Chakwera, bankerstalk industrialisation
Bankers Association of Malawi (BAM) has pledged to support government’s agriculture, tourism and mining (ATM) strategy which is President Lazarus Chakwera’s flagship programme for transforming the economy.
Speaking after a meeting at Kamuzu Palace in Lilongwe on Tuesday, BAM president Phillip Madinga said the banks, among others, aim to provide loans for the development of ATM sectors.
He said: “We are now calling it ATM Squared where the President emphasised on export manufacturing where we talked about the role of banks.”
Madinga, who is Standard Bank plc chief executive officer, said agriculture is a critical sector for the economy, adding their discussion with the President also dwelt on mega farms.
He said: “Agriculture activity supports the agenda of financial inclusion, which is being supported by the banks. We want to support the big corporations, small and medium enterprises and even subsistence farming.
“In tourism there are lots of opportunities that we can look at as a country. While in mining we have large opportunities such as Kayelekera and also artisanal small-scale mining.”
Presidential press secretary Anthony Kasunda said the meeting was primarily aimed at extendig condolences to the President on the death of the former vice-president Saulos Chilima and eight others in a plane crash on June 10.
“The loss has been very traumatising to the President as they were working closely. However, BAM also took the opportunity to express their support for several government initiatives,” he said.
