Malawi taps diaspora in bid to boost mining sector
As African nations increasingly look to chart their economic courses, all eyes will be on Malawi to see if this innovative approach pays dividends.
LILONGWE, Malawi— In a move that echoes strategies seen in emerging markets worldwide, Malawi is reaching across its borders to court its citizens abroad for investment in its fledgling mining industry, writes Winston Mwale.
The Malawi Ministry of Mining announced Thursday it will host a virtual investment forum on July 13, targeting Malawians living overseas.
This digital outreach, a follow-up to an earlier physical forum, signals Malawi's intent to modernize its approach to resource development.
The two-hour event will feature a roster of government heavyweights, including engagement in discussions and Q&A sessions with key stakeholders and decision-makers, in what appears to be a full-court press to attract foreign direct investment.
Malawi's play comes as many resource-rich African nations grapple with how to leverage their natural wealth without falling into the infamous "resource curse."
By tapping its diaspora, Malawi may be hoping to thread that needle.
As African nations increasingly look to chart their economic courses, all eyes will be on Malawi to see if this innovative approach pays dividends.
From Lilongwe, Malawi’s capital, it's clear that the game of global resource development is changing, and Malawi is determined to be a player.