Danish Investment firm eyes Malawi

The goodwill that has come with the new administration of Joyce Banda has attracted the Danish Investment Fund for Developing Countries (IFU) to finance business deals in the country.

The multi-billion dollar investment fund run by the Danish Government has already been in touch with the country’s business community to discuss joint venture deals in various sectors.

Founded  in 1967, IFU  aims to promote economic activity, advising and investing in developing countries.

”The economic environment has changed and we thought we should come back and explore investment opportunities that Malawi has…we have been talking to Press Corporation and met its chairperson Dean Lungu,” said IFU department director Peter Schwalbe.

Early this year, Scwalbe, accompanied by Johnny Ohgron Hansen —head of IFU southern Africa — met several business leaders to discuss joint venture deals.

”We are setting business opportunities and so far we are looking at financing joint ventures in the food processing industry, fisheries and industrial building,” Hansen said in a telephone interview from Johannesburg.

Lungu in an interview confirmed that PCL has been discussing possibilities of business opportunities with IFU in recent months.

“Discussions have been held and we are looking forward to more of this and possible joint ventures in the near future,” he said.

The economy desperately needs new investment to create more jobs and bolster the foreign exchange position which has been below the recommended three months of import cover for at least three years.