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MITC claims investor confidence has improved

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By Chimwemwe Mangazi:

Malawi Investment and Trade Centre (MITC) has said it is overwhelmed with the rising numbers of local and foreign investors seeking to pump money in various projects.

MITC’s Public Relations Manager, Deliby Chimbalu, said the development has prompted the centre to develop a dependable database of bankable projects to facilitate funding or equity partnership opportunities.

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Chimbalu said MITC has been receiving queries from potential investors who ask for local partners or bankable projects to fund and are scrutinising some of the applications.

“From time to time, investors approach us requesting either [details of] local partners or for projects to fund. Others present to us prospects of grants for commercially viable and impacting projects and some equity investors do seek local partners who have bankable operational businesses [into] which they wish to inject their investment capital.

“But most of the times we do not have such projects handy and we might be losing out [on] opportunities,” Chimbalu said.

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She added MITC hopes that the private sector would take advantage of the opportunities and submit bankable projects for MITC.

Chimbalu attributed investor excitement to recent trends in the economy where local authorities and international monitors such as the International Monetary Fund have indicated that the economy would maintain its stability in the medium term before it starts to grow.

Previously, investors used to claim that Malawi was not a viable investment destination because of its fragile economy coupled with intermittent power supply.

MITC has since 2014 been producing a compendium of investment projects which is one of the main marketing tools of Malawi’s investment opportunities.

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