BLANTYRE-(MaraviPost)-President Lazarus Chakwera has reaffirmed his government’s commitment to supporting export-oriented companies, highlighting the significance of such investments in boosting the country’s economy.
The president made this statement during the official commissioning of the Bakhresa oil refinery plant in Blantyre, a $100 million investment that is set to revolutionize the country’s agro-processing sector.
The Bakhresa oil refinery plant, which is expected to be completed by October this year, will have the capacity to crush 500 metric tonnes of soya beans per day and create around 500 jobs.
According to Richard Tchereko, Human Resource and Compliance Manager at Bakhresa Malawi Limited, the plant will not only generate employment opportunities but also provide a ready market for local soya bean farmers, stimulating crop diversification and increasing the country’s foreign exchange earnings through the export of value-added products such as soya cake and lecithin.
President Chakwera’s remarks underscore the importance of public-private partnerships in driving Malawi’s economic growth.
The Bakhresa Group’s investment in the oil refinery plant aligns with the country’s National Export Strategy and Malawi 2063 aspirations, which focus on industrialization, agriculture productivity, and job creation.
The commissioning of the Bakhresa oil refinery plant marks a significant milestone in Malawi’s industrial development.
Chakwera’s pledge to support export-oriented companies is expected to encourage more investors to tap into the country’s growth potential.
