By Chisomo Phiri
Minister of Tourism Vera Kamtukule has encouraged Malawians to invest in the tourism sector, particularly in shares, to boost the country’s economic growth and development.
She made the remarks during the Blantyre Hotels Limited (BHL) plc Rights Offer Cocktail on Friday.
According to Kamtukule, creating a middle class and mobilizing people to invest in shares is vital for the country’s economic growth.
“By investing in shares, Malawians can contribute to the growth of the tourism sector and benefit from potential financial gains.
“This can possibly promote economic development and create a middle class,” said Kamtukule.
BHL plc, listed on the Malawi Stock Exchange(MSE), plans to raise K62.4 billion through a rights issue to complete the construction of a 180-bed hotel at Lilongwe Golf Club.
The rights issue is set to open on November 25 and close on December 26, 2024.
BHL plc chairperson Vizenge Kumwenda expressed optimism about the project, stating that it will have a positive impact on the economy.
Said Kumwenda:”The construction of the new hotel at Lilongwe Golf Club is expected to have a positive impact on the economy, and the rights issue provides an opportunity for Malawians to be part of this growth.”
