LILONGWE-(MaraviPost)-President Lazarus Chakwera on Monday, June 30, 2025 successfully returned from 32nd Annual Meetings of the African Export-Import (Afrexim) Bank in Abuja.
Upon arrival, Chakwera described the trip as fruitful citing the commencement of the Magwero Industrial Park project next month.
The President disclosed that Afrexim Bank will fully financially support the project.
“I have returned from fruitful 32nd Annual Meetings of the African Export-Import (Afrexim) Bank in Abuja.
“Chief among the exciting outcomes from the trip is the firm assurance from the bank on commencement of the Magwero Industrial Park project next month,” says Chakwera.
The Malawi leader adds, “Located on 417 hectares of land, the US$200 million project will have state-of-art infrastructure to host and support a wide range of functions across multi-industry value chains in manufacturing, packaging, research and innovation, logistics and storage, and dry port services.
“Upon completion, the facility will have substantial impacts on the country’s economy some of which include; US$685 million foreign direct investment in the next three to five years, creation of over 132,000 jobs, improved tax base and exports resulting in more forex, and stabilisation of the economy”.
Chakwera explains further on the trip, “I also took opportunity of the event to engage some of Africa’s leading investor’s namely; Alhaji Aliko Dangote and Tony Elumelu. Both have pledged to venture into the Malawi market with substantial investments.
“We will pursue our goals with them up until they establish their business ventures in our economy”.