Local firms join K19 billion UK investment pitch

Local Malawi firms join K19 billion UK investment pitch

Post was last updated: May 26, 2020

CHIMBALU—This is a great opportunity

The Malawi Investment and Trade Center (MITC) has encouraged players in the energy sector to participate in the United Kingdom (UK) virtual brokerage where successful pitchers will secure investment partnerships under the Innovate UK Energy Catalyst Round 8.

The initiative will provide a platform for companies in the renewable energy sector in sub-Saharan Africa and South Asia to participate in one on one virtual meetings with UK potential investors.

According to information available on the Energy Catalyst Round 8 Virtual Marketplace website, an estimated £21 million (about K19 billion) would be disbursed to support businesses develop highly innovative, sustainable energy technologies and business models.

By Thursday last week, the website showed that out of the 238 that had registered, only four were local companies.

“Aim of these webinars and virtual marketplace is to help organisations gain an understanding of the energy access issues in a particular country and develop equitable partnerships leading to a collaborative application for Energy Catalyst Round 8,” reads in part information on the website.

MITC Public Relations Manager, Deliby Chimbalu, said this is a great opportunity for Malawi to tap into the resources available and build business relationships internationally.

“The initial plan was to have the Innovate UK visit Malawi in July this year. But because of the Covid-19 pandemic, the visit has been postponed hence, the virtual market place,” Chimbalu said.

The virtual market place is expected to commence on June 1, 2020 and company registration will end on May 29, 2020.

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