Private sector still key driver for economy—UK

British High Commissioner Holly Tett says the country’s economy can only grow further if the private sector takes a leading role in coming up with innovations.

Speaking in an interview yesterday on the sidelines of the first-ever Umodzi Park Business Leaders’ Breakfast in Lilongwe, the envoy said the private sector—which is touted as the engine of economic growth—is crucial to spur the country’s socio-economic development.

She said innovations and ideas such as the business leaders’ breakfast could help business captains network and find solutions to challenges rocking the country and also improve their businesses.

“I find the idea of organising the business breakfast by Umodzi Park beneficial because in Malawi, what will drive the economy is the private sector. Networking among peers is beneficial and as the British High Commission, we are also excited that is why I came to meet the business gurus,” said Tett.

She said Britain is also taking a leading role in supporting small-scale enterprises.

Said Tett: “There are many opportunities in Malawi. As UK, we are supporting horticulture business because it has potential as well as another enterprise involved in egg production.

“Through Common Development Corporation [CDC], we have set aside 70 million pounds [K64 billion] to stimulate growth of medium enterprise.”

On his part, Economics Association of Malawi (Ecama) president Chikumbutso Kalilombe advised management of Umodzi Park to include a theme in the forthcoming business breakfast meeting to make them more exciting.

“The whole idea to bring business captains to a networking breakfast is brilliant, but in future if they should add a theme on any topical issue,” he said.

Umodzi Park general manager David Church said the event was organised to bring together business captains to network.

“We will make this a quarterly activity as this is a good platform for everyone. We are coming up with various innovations to excite our customers, including business captains,” he said.

Umodzi Park manages The President’s Walmont Hotel, Bingu International Convention Centre and Presidential Villas in Lilongwe.