Malawi urges diaspora to invest in mining sector, boost economy
Malawi's push to develop its mining sector comes as the country seeks to reduce its reliance on agriculture and diversify its economy.
LILONGWE, Malawi— Malawi's government is calling on its citizens living abroad to invest in the country's burgeoning mining sector, part of a broader strategy to diversify the economy and create jobs, writes Winston Mwale.
Minister of Mining Monica Chang'anamuno addressed the 2024 Malawi Mining Investment Forum for Malawians in Diaspora on Saturday, highlighting opportunities in uranium, rare earth elements, and gemstones.
"We are eager to partner with investors who share our vision of sustainable development and who are willing to engage with local communities to ensure mutual benefits and long-term success," Chang'anamuno said during the virtual meeting.
The forum follows April's inaugural Malawi Mining Investment Forum in Lilongwe, which was opened by President Lazarus McCarthy Chakwera.
It aligns with the country's Vision 2063 development blueprint and the Agriculture, Tourism and Mining (ATM) Strategy.
Chang'anamuno emphasized the government's efforts to create a favorable investment climate.
"We are actively working to streamline procedures, enhance infrastructure and strengthen governance to facilitate and safeguard investments in our mining sector," she said.
The minister addressed concerns about regulatory transparency and efficiency, stating, "The Malawi government is committed to creating a conducive environment for investment, with transparent regulations, efficient permitting processes, and support for responsible mining practices."
Malawi's push to develop its mining sector comes as the country seeks to reduce its reliance on agriculture and diversify its economy.
The government sees the involvement of its diaspora community as crucial to achieving this goal.
"Together, we can harness the potential of Malawi's mining sector to drive economic growth, create employment opportunities, and contribute to the prosperity of our nation," Chang'anamuno concluded.
The forum included presentations on specific investment opportunities and a question-and-answer session aimed at fostering partnerships between the government and potential diaspora investors.