By Chisomo Phiri
Reserve Bank of Malawi (RBM) governor Wilson Banda has emphasized the importance of strong partnerships among economic agents to achieve the country’s goals of industrialization, structural transformation, job creation, high export revenues, and wealth generation.
Speaking at a Stakeholders Engagement Forum in Lilongwe organized by the Export Development Fund (EDF) on Wednesday,Banda noted that no single economic player can drive the country’s progress alone.
He commended EDF for introducing a Project Preparation Window, which helps turn concepts and ideas into viable projects.
“Studies have shown that significant domestic resources are available to support development, but often, there are no readily available investment opportunities that are well-packaged and de-risked,” said Banda.
On his part,Minister of Finance Simplex Chithyola highlighted that Malawi’s membership in the African Continental Free Trade Agreement (AfCFTA) provides access to a vast market of over 1.4 billion people, with a GDP of $3.4 trillion, making it the world’s largest trading bloc. Chithyola stressed,
“Malawi must strategically position itself to capitalize on the opportunities presented by this free trade area to drive economic growth and development,” he said.
The forum aimed to gather key stakeholders for a dialogue on “Unlocking Malawi’s International Competitiveness” and showcase EDF’s role in supporting the country’s industrialization and international trade.
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