MZUZU-(MaraviPost)-The Reserve Bank of Malawi (RBM) Governor says if the economy of the country is to flourish, players in the economy need to diversify rather than relying on sector.
Speaking on Thursday at the opening of a two day media training on economic and business reporting in Mzuzu, the RBM boss, Dr Dalitso Kabambe, said Malawi’s economy has heavily relied on rain fed agriculture for so so long.
He further said due to that, the nation has been unable to develop significantly as there has been a lot of weather shocks in some years; affecting performance of crops in the process.
“As a country, we need to work hard to restructure our economy. Our over reliance on agriculture; particularly on crops like tobacco, has not changed the game. It is, therefore, high time we invested heavily in other sectors such as Tourism and Mining so as to revamp the economy,” said Kabambe.
The RBM boss also said for the country to register meaningful trends in development, the Government needs to minimise domestic and foreign borrowing for unsastainable projects.
One of the facilitators of training, who is also a highly respected journalist in financial and business journalism, Ephraim Muthali, also hinted that the economy of the country needs a lot of sources in order to improve tremendously.
The training which ends today Friday aims at equipping journalists with strong reporting skills on business and economic matters.
