Mutharika cautions on Africa investments

President Peter Mutharika has advised African governments to negotiate terms and conditions that will benefit their countries and not leave them exploited as has been the case in the past.

The President said this on Tuesday at the University of London’s School of African and Oriental Studies (SOAS) in United Kingdom (UK) during a discussion that followed his public lecture.

Mutharika: It is an exciting opportunity

The academic community sought to understand why investment summits between Africa and major counties have suddenly soared.

In his explanation, Mutharika said: “What we are seeing is, in a positive sense, a new scramble for Africa.  People now realise that Africa is no longer a burden, but the continent that can be engaged for mutual benefit.”

Mutharika, who acknowledged that the continent has been exploited both in terms of trade and mineral resources, said the new rush for Africa should be welcomed with caution and governments have the responsibility of protecting their countries.

Baroness Valerie Amos, who moderated the lecture, said the new rush for Africa was an interesting development that could help spur or impinge Africa’s growth. Mutharika is in London for the inaugural UK-Africa Investment Summit and a series of meetings, including a Malawi Investment Forum on Wednesday.

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