Malawi seeks serious investors

Malawi Minister of Industry and Trade John Bande said only serious investors should come to Malawi.

He said last week government is wary of investors who run businesses which Malawians can do.

Bande said this in Lilongwe when he toured the site where Sogecoa Golden Peacock is constructing a shopping complex and extending its hotel at City Centre.

“We want only those investors with serious business ideas and not those who come to do petty businesses.

“We want them to be in towns and construct buildings such as these [Sogecoa hotel and shopping complex],” said Bande.

He said Sogecoa shopping complex will bring life at the City Centre, observing that the area lacked a shopping mall and recreation site where individuals and their families would go.

Sogecoa assistant manager Emily Shen said they expect to open the shopping complex to the public by December 16, adding it is almost fully booked by occupants.

She said upon completion of the project, the company will have invested about K10 billion (about $40m) into the hotel and shopping complex.