Govt expects increased diaspora investment
Government says it anticipates increased investments from Malawians in diaspora following the passing in Parliament of the reviewed Citizenship Bill which provides for dual citizenship.
Minister of Foreign Affairs and International Cooperation Emmanuel Fabiano said this when he launched a new bus company, Borneo Limited, which is offering passenger coach services.
The company is owned by two United States of America citizens of Malawian origin, Samuel Mtunga and Alindine Mkwezalamba, who also own and run a real estate company in the US.
Said Fabiano: “As government, we are engaging Malawians that live outside the country to come home and make investments. This is being done through the Malawi Diaspora Engagement Policy which we are implementing since last year.
“But more recently, we also passed the amended Citizenship Bill whereby Malawians will be allowed to have citizenship in Malawi as well as outside Malawi and this is going to increase investment participation of Malawians who live outside the country”.
The minister urged Malawians living in diaspora and have assets to invest back home.
In her remarks, Mkwezalamba said the investment into the Borneo passenger coaches is a response to existing gaps in the passenger coach services in the transport sector.
“We are focusing on the customer needs, safety and we are also breathalysing our drivers before they get behind the wheel to ensure they are sober when driving. We are also bringing the ability of people to book online, make payments and book their seats without them physically coming to our offices,” she said.
Commenting on the Citizenship Bill that allows dual citizenship, Mtunga, who is Borneo Limited president, said there are a lot of Malawians with the US citizenship who want to invest in Malawi, and it is encouraging for him and others to learn they can now have citizenship in Malawi, saying it will ease investment processes.
According to Mkwezalamba, the two buses will start with the Blantyre-Lilongwe routes before expanding to other areas.
RBM projects that by end of this year, there will be at least $200 million remitted into Malawi from different types of investments. n
