About 150 local companies are expected to attend the Malawi Investment Forum (MIF) 2016 financiers summit in Blantyre next Tuesday, Ministry of Industry, Trade and Tourism has confirmed.
The meeting, jointly organised by Malawi Investment and Trade Centre (Mitc) and the ministry, will enable the local private sector to learn models of project financing from their counterparts.
Ministry of Industry, Trade and Tourism assistant director of trade Wiskes Nkombezi, in an interview on Wednesday, said one of the key factors leading to lower private investment uptake in Malawi is lack of long-term capital financing.
“To satisfy this need, government has opted to host an event where owners of capital meet with users of capital to enhance access to capital on Malawian projects,” he said.
Mitc spokesperson Deliby Chimbalu, in a separate interview, said Malawi is expected to benefit from the proposed MIF 2016 financiers forum.
“We want to use this avenue as a launch pad for the upcoming MIF 2016 which is scheduled to take place in October 2016,” she said.
Some of the financial institutions to attend the financiers forum include Afrexim Bank, African Development Bank (AfDB), PTA Bank, Overseas Private Investment Corporation (Opic) of United States, United Kingdom Export Finance Agency and Industrial Development Corporation.
MIF is an initiative to attract foreign direct investment (FDI).