In a bid to expand, one of the country’s mining firms, the GDP Capital and Minerals Group Ltd, trading as GDP Capital, has rebranded to African Minerals and Energy Holdings Limited.
In a statement,the firm’s founder Lumbani Mbale said the move is aimed at aligning the company with its vision to become the largest mining and energy group in Malawi and southern Africa.
He said: “As a truly African mineral exploration, mining and energy group, we exist to contribute significantly to Malawi’s economic development through the provision of innovative and sustainable mining and energy solutions to the Malawian population.”
Mbale said the rebranding also includes the group’s Zambian mining subsidiary which has also rebranded to African Minerals and Energy (Zambia) Limited.
Meanwhile, the group has acquired 25 percent shareholding in a newly established Malawian firm African Rail Corporation (ARC).
Mbale said the rail company is currently awaiting regulatory approvals and once given the greenlight, the company will operate on the Beira, Nacala and Mbeya routes, transporting various commodities to and from Malawi.
He said the acquisition of the rail company will add a lot of value to the group’s operations.
According to experts, poor road infrastructure contributes to high cost of doing business and debates have been ongoing on the need to utlise rail and water transport as cheap means of transport that would help reduce costs businesses incur.
Apart from the newly acquired rail firm, African Minerals and Energy Holdings Ltd holds 51 percent shareholding in African Energy and Power Limited, which importats and distributes of liquid fuels and develops power solutions in Malawi.
Government has projected mining, among others, as an economic niche to contribute to national development.
In his State of the Nation Address, President Lazarus Chakwera outlined his administration’s policy on mining to support government’s efforts to restructure the country’s agro-based economy.