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Anglican bishop urges fair investment in Likoma

Anglican Diocese of Northern Malawi Bishop Fanuel Magangani says any investment on Likoma Island should be structured in a model that ensures a win-win scenario for the government and communities.

The cleric made the suggestion in a written response yesterday amid revelations that an investor was set to lease Lake Malawi’s largest island for tourism developments.

Magangani said a win-win scenario could entail investors holding a majority stake of say 51 percent with the government retaining 30 percent and local communities 19 percent of an investment on the island.

Magangani: Investments should be structured

He said: “This model not only ensures equitable profit-sharing but also empowers communities to thrive. Or anything that will work out for everyone to benefit but not to sale it outright and then after spending the money they have nothing for themselves and next generation.”

The bishop, whose church has a historic cathedral and hospital on the island, urged the need for Malawi to safeguard her sovereignty against exploitative investors who prioritise profit over the well-being of local communities, including exploiting their natural resources.

Earlier, Minister of Tourism Vera Kumtukule took to Facebook to give an update on her recent visit to the island to address concerns about the alleged sale of the Island to a casino investor, Augustus Group.

She said government has not proposed selling Likoma Island per se, saying the investor submitted a proposal which after a vetting process, was judged awkward and misaligned with Malawi’s policies.

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