Ahead of the third Malawi Investment Forum (MIF) in June this year, Malawi Investment and Trade Centre (Mitc)—a one-stop investment centre—has outlined three projects to roll out this year.
The projects, according to Mitc spokesperson Deliby Chimbalu, are the construction of Lilongwe Grand Business Park and five-star hotel along the Lilongwe West Bypass Road, the fertiliser project between Nkhotakota-based Mtalimanja Holdings Limited and an Indian investor and construction of 2 500 housing units in Lilongwe, Blantyre and Mzuzu by South African investor Nedebe Group, a company that focuses on infrastructure and property development.
This will be done in conjunction with the Malawi Housing Corporation (MHC).
Last year, Mitc postponed the 2017 MIF as it wanted to make follow-ups and consolidate projects that attract interests from investors.
Already, construction of the Lilongwe Grand Business Park and five-star hotel, expected to cost $100 million (about K73 billion), started in November and is expected to directly create 1 500 jobs and 2 500 indirect jobs.
The project is being undertaken by a Chinese firm China-Lilongwe Grand Holding Corporation Limited.
In an interview on Thursday, Chimbalu said discussions for the other two projects, whose memoranda of understanding (MoUs) were signed, are progressing well.
“When we postponed the MIF last year, some thought there is nothing that is going on, but things are moving on the ground.
“Discussions between the investor partner with Mtalimanja Holdings are at an advanced stage and the other partnership like the Nedebe and Malawi Housing Corporation is also showing impressive signs in view of the discussions,” she said.
Nedebe, according to Nyale, also wants to construct an office block at Capital Hill, a heritage site and other infrastructure at Area 32 near Kamuzu Central Hospital.
Both MHC and Mtalimanja Holdings Limited officials could not be reached to state when the projects will roll out.
But in an earlier interview, Mtalimanja Holdings Limited director David Kamchacha indicated his company’s readiness to partner an Indian investor in the project.
In a statement on Friday, Mitc said the 2018 MIF will be held on June 11 and 12 in Lilongwe.
According to a statement, this year’s forum will focus on five sectors, namely agriculture and agro-processing, energy, transport and infrastructure, tourism and manufacturing.
Reads the statement: “The MIF 2018 will focus much on investment projects in the five sectors which we are promoting. These projects we are soliciting from both the public and private sector. It is our plea to all those who have bankable projects to work with us in packaging them for the investment forum.”
As has always been the case during MIF, there will be side events such as financier’s forum, which his is a platform for project promoters to interact with potential financiers for their various projects.
MIF 2018 is targeting 1 000 participants from both Malawi and beyond, according to the statement. n