Kuwait company to invest in Malawi

Alghanim Group president Tarek Issa has pledged to invest in Malawi’s energy sector.

This should be good news to businesses that are failing to perform to full capacity because of intermittent power supply facing the country.

Issa made the pledge when he met Malawi President Joyce Banda in Dubai, United Arab Emirates where she is attending the World Energy Forum.

“We are specialised in power generation and infrastructure development. Last year, President Banda invited us to visit Malawi and see for ourselves business potential that exist in that country.

“We will send a delegation of experts to Malawi in November this year to examine the situation,” he said.

Issa said his company is interested to invest in Malawi because of the good things they have heard about the country.

Minister of Climate Change and Environmental Affairs Catherine Gotani Hara said it is the wish of government to boost the energy sector, which she described as the engine of economic development.

“The energy sector is one of President Banda’s five priority areas which is why she is inviting as many potential investors in the area as possible,” said Gotani Hara.

She said the President realises that the economy can only grow if it has reliable energy supply and Alghanim is ready to provide that.

The minister has, however, bemoaned unnecessary bureaucracy which  frustrates potential investors.

Gotani Hara said the President has since asked the ministers and some top officials in government to remove bottlenecks that discourage business investments.