BLANTYRE-(MaraviPost)—Vice President Saulos Chilima has challenged Malawians to reflect deeply on what needs to be done to bolster the private sector, in order for the sector to drive productivity, create jobs, bestow incomes, and generate the much needed revenue for social spending and poverty reduction by the government.
Chilima said this a while ago at Bingu International Convention Center (BICC) where he presided over the launch of the World Bank Group’s Country Private Sector Diagnostics (CPSD) report which aims to identify sectors where private sector solutions can create or expand markets and make substantial contributions to development impact.
“What will each of us do to promote the building of a strong private sector in Malawi to spur more economic activity? Let there be no spectators or Monday coaches,” he said as quoted by The Nation.
The new World Bank report observes that tackling challenges facing the private sector requires prudent macro- economic management, and actions to ensure the stability of Malawi’s financial sector in the current turbulent times.
The document highlights specific sectors of energy, connectivity, and agribusiness—which it says are tightly interconnected and together are crucial for Malawi to meet the challenge of creating jobs and revitalizing economic transformation.