LONDON (MaraviPost): Yesterday evening, Prof. Arthur Peter Mutharika held positive talks with business tycoons from Israel, Ukraine, France and Morocco who are based in the United Kingdom.
The team was led by Mr. Akbar Asif, chairman of British Marine Limited and Mr. Nir Gess, a board member. During the meeting, President Mutharika managed to secure a deal on establishing a state-of the art fertilizer manufacturing company. He also urged the investors on the need to invest in Malawi’s mining and shipping sectors.
Spoke Person for the Malawi promises that a high-powered delegation from the business tycoons will be coming to Malawi to do a feasibility study next week.
investments in the Malawi’s energy and agriculture
President Prof. Arthur Peter Mutharika met in audience Mr. Graham Wigley, Chairman of Commonwealth Development Corporation (CDC). He was accompanied by his Chief Executive Officer Mr. Nick O’Donohoe.
During the meeting, the corporation committed to invest in the Malawi’s energy, agriculture, large-scale irrigation and finance sectors. CDC is the UK’s leading development finance institution that works with the private sector and has a footprint in Malawi.
They are supporting the production of macadamia nuts in the north of Malawi and this time around; they want to do more.
Meanwhile, the corporation will soon send a team of experts to Malawi to have discussions with local experts to look at the operational issues about their expansion the team’ visits will be followed up with the Chairman’s visit in November to finalize the processes.
Inflation Under Control
President Professor Arthur Peter Mutharika says the country’s inflation has been in the single digit with a stable local currency for the last four years. According to the Malawi, Inflation was at the average of 8.8 percent throughout 2019, At the same time, reducing interest rate down to 13 percent.
“By the way, interest rate was 47 percent when I took government in 2014,” adds Mutharika.
The Malawi leader said this during the UK-Malawi Investment Forum in London, UK on Wednesday, January 22, 2020.