By William Kumwembe:
Malawi is among African countries that would participate at the 2020 United Kingdom (UK)-Africa Investment Summit in London slatted for January next year, the British High Commission has said.
British High Commission Malawi Chargé d’Affaires, Gary Leslie, made the revelation last week on the sidelines of the unveiling of the Malawi Innovation Challenge Fund’s $2 million fund to support financial sector development in the country.
The UK would host the summit on January 20 2020, bringing representatives of businesses, governments and international institutions to showcase and promote the breadth and quality of investment opportunities across the continent.
“And I am delighted to reveal that Malawi has been identified as a priority investment market,” Leslie said.
He said quality, sustainable and transparent investment into Malawi business, infrastructure and communities was critical securing clean growth and long term prosperity for the country.
This, Leslie said, would help Malawi move beyond aid.
The development comes at a time Malawi is on a drive to migrate from a pre-dominantly importing and consuming nation to a producing and exporting one.
It also comes as Malawi is among 54 African countries that have signed the African Continental Free Trade Area but, like 28 other countries, it is yet to ratify it.
If successful, the continental free-trade zone would unite 1.3 billion people, create a $3.4 trillion economic bloc and usher in a new era of development.
In 2018, the UK-Africa trade was worth 33 billion euros and about 2,000 British businesses operate in Africa.
Today’s top business story: Top Commercial Banks In Malawi