JB’s son queries borrowing

Zomba Malosa Constituency Member of Parliament (PP) Roy Kachale Banda, son to former president Joyce Banda, says Malawi needs answers to the continued over-borrowing by governments, literally mortgaging the country.

Kachale Banda said this in his contribution to the debate on the Multinational-Nacala Road Corridor Development Project which seeks to authorise the Malawi Government to borrow $63.5 million (about K25. 4 billion) from the African Development Fund (ADF) for the construction of the 75-kilometre road connecting Liwonde and Mangochi.

He said: “Malawi has had five governments in total, thus MCP [Malawi Congress Party], UDF [United Democratic Front], DPP [Democratic Progressive Party], and PP [People ’s Party] and now back to DPP. All these have been borrowing money for different developmental projects with the debt repayment stretching over to as far as 40 years for some of the loans.

“I wish someone could explain to the nation through this House how much we owe who and the duration of all the outstanding loans hovering on our shoulders because I foresee a future Malawi riddled with loans and that does not give hope to youths like me. We are borrowing too much as a country.”

Commenting on the road, Kachale Banda asked government to take into consideration the Balaka-Liwonde and Liwonde-Machinga roads which, he said, are in bad shape.

Presenting the bill earlier on, Minister of Finance, Economic Planning and Development Goodall Gondwe said the project will also include construction of two one-stop border posts.

“The project will contribute to the improving of transport services in Balaka, Machinga and Mangochi districts which will in turn be expected to support local economic activities which includes agriculture, fisheries and tourism, just to mention a few.

“The loan will also see the construction of one-stop border posts at Chiponde in Mangochi and Mchinji, procurement and installation of equipment and software at the two border posts and it will also improve some critical feeder roads in Balaka and Mangochi while at the same time creating employment through 400 temporary and 100 permanent jobs during implementation of the project and afterwards,” explained Gondwe.

Spokespersons for finance for all political parties supported the bill, with MCP’s Jacob Hara asking government to be vigilant on implementation.