President Lazarus Chakwera has assured South African investors of the Government of Malawi’s support in clearing all bottlenecks that stifle investment opportunities into Malawi in order to accelerate economic growth in the country.
The president said this on Tuesday at Davinci Hotel when he met South African investors with diverse investment interests.
One of the investors, Natal East India said the company which deals in rice farming, milling and distribution in South Africa has committed about U$20million dollars towards establishment of a rice mega farm in Malawi.
This was disclosed after the investor and other South African investors met president Chakwera Tuesday to discuss investment opportunities.
In an interview after the meeting, the company’s representative, Thami Shande said the company targets production of up to 100, 000 tons of rice on 10,000 hectares of land.
He said the meeting was very important as they were able to inform the president and his team about the rice specifications their clients want in South Africa.
“This will make Malawi the Champion of rice production not only in South Africa, but also the whole SADC region.
“The president has assured us that in terms of licensing it will be completed within this quarter and we will be able to start implementing before the end of the year,” he said.
Another investor, Blue Energy representative, Marcel Steinberg said he was encouraged by the government of Malawi’s commitment to economic growth and industrialization and identifying the link between energy security and economic growth.
He said his team will be in Malawi from September 5 for site visits to at least 10 areas and also to do feasibility study.
He added that his company has already identified customers in Malawi and a lot of ground work has already been done.
Minister of Finance Sosten Gwengwe said the introduction of more energy investors in Malawi would lessen the pressure on the grid and create a conducive environment for economic development.
He further said that investment in rice mega farms will give an opportunity to local farmers in districts such as Nkhotakota and Salima among others to benefit from the available south African market.
He said the president has urged his team to clear all investment blocks in order for Malawi to develop.
The president also met other investors who are interested in investing in hospitality and tourism, among others.
Theh Malawi leader is in South Africa to attend the 15th BRICS summit currently underway in South Africa at the invitation by South African president, Cyril Ramaphosa.