Firm in wealth creation drive

Sycamore Consult Limited says resilience and reinvention in a tough economic environment is key to business success and wealth creation.
Speaking on Friday during a press conference on the firm’s upcoming Wealth Creation Conference, Sycamore Consult Limited managing director Audrey Mwala said the conference seeks to contribute to the country’s wealth creation agenda by including and encouraging individuals to take part in the campaign.

She said: “What we need is to create a wealth creation mindset and set Malawias on fire to go and claim that wealth. We need to challenge people to find ways of collecting that money.

“You don’t get money by complaining. We need to find a way of giving people the reason why they should give them money and it is done when people see that a person has created value. It is up to us as individuals and countries to create value.”
Mwala said the annual conference, which has been hosted for the past four years,is significant, especially now when the economy is facing various challenges on the macro-economic front.

“We need to correct the situation because if we don’t, we are going to be in perpetual poverty,” she said.
World Bank data shows that in Malawi, the poverty rate was 50.7 percent in 2010 and has remained broadly unchanged during the last decade.
The last poverty measure in 2019 showed that 50.7 percent of the country’s population or nine million people, were living in poverty.

The Malawi 2063, the country’s long-term development strategy, seeks to transform Malawi into a wealthy and self-reliant industrialised upper middle-income country by 2063
The blueprint also projects that if the economy grows at an annual average rate of six percent, Malawi could attain the low-middle-income status by 2030, with a per capita income of between $1 006 (about K1 million) and $3 955 9 (about K4 million).

The conference, which is slated for August 31 2023 at Amaryllis Hotel in Blantyre, will, among others, be graced by Finance Minister Sosten Gwengwe as guest of honour and Mwala, who is also a PPP and personal finance expert, as main speaker.
Business moguls Haroon Sacraine of ZST investments, Abdul Rashid Suleman of Siku Group of Companies, Jimmy Mpatsa of Mpatsa Holdings, Mayamiko Nkoloma of iMoSyS and Ngabaghila Chatata of Thanthwe Farms will also speak at the event