STANDARD BANK PUMPS 50 MILLION INTO MALAWI INVESTMENT FORUM

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Madinga presenting the donation to Chonthyola

Minister of Trade and Industry Simplex Chonthyola has expressed delight with the MK50 million support from Standard bank towards the Malawi Investment Forum (MIF) scheduled for the Republic of South Africa later this month.

Chithyola made the sentiments in Lilongwe when he received the cheque of MK50 million on behalf of the government of Malawi on Friday.

He said the MIF was key to woo investors into the country as well as finding international markets for Malawian products.

“This forum slated for 24 and 25 of this month in South Africa is critical in for Malawi as it brings opportunities for Malawi to woo investors as well as sell our products for the much needed forex. And this is in line with the Malawi 2063 development agenda. And when partners like Standard bank comes in to support we know we are in a right direction. We are excited as government with this support from standard bank” said Chithyola.

And presenting the cheque Standard Bank Chief Executive Phillip Madinga disclosed that the bank was committed in supporting government to attract investors.

“At Standard Bank, we believe that Malawi is our home and we drive her growth. So in driving the growth we are excited to announce that we have given the ministry of trade this money towards the Malawi trade and investment forum. We are excited because it is through this investment that we will grow our economy as a country, ” he said.

Madinga said the upcoming Malawi Investment Forum augers very well with Standard Bank’s position to continue playing an active role in financing the country’s trade agenda as it also provides the bank a platform to put its expertise in financing trade and opening international and regional trade corridors at the disposal of key trade partners.

“As the Forum will showcase bankable projects in a cross-section of economic sectors, stakeholders will be glad to cherry pick those products and services that suit their trade requirements. As a lead private sector partner for the MIF, Standard Bank looks forward to welcoming the new opportunities that the forum will create. We are keen to work with all the partners that will bring bankable projects in the identified key sectors of energy, tourism, mining, agriculture, ICT, manufacturing, and infrastructure. Malawi is faced with a myriad of challenges which can best be addressed by improving our economic efficiencies. As trade sits at center of the country’s inter-connected economy, it is one of the catalysts to help grow our country socially and economically,” Madinga said.

The Malawi Investment Forum will be held at Emperors Palace in Johannesburg, South Africa under the theme a prosperous Malawi through strategic investment from 24 to 25 of this month.

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