Nico Holdings plc says it has engaged 25 potential United States (US) investors who are exploring business opportunities in Malawi’s mining, tourism, agriculture and manufacturing sectors.
The Malawi Stock Exchange-listed financial services group has partnered Ministry of Industrialisation, Business, Trade and Tourism to showcase investment opportunities and strengthen Malawi’s position as an attractive destination for foreign direct investment (FDI).
Nico Holdings plc group managing director Vizenge Kumwenda said in an interview on Friday that the US investors, who are on a two-week economic tour of the country, are getting first-hand experience and knowledge of the investment opportunities available in the country.
“The objective is to give investors first-hand exposure to Malawi’s investment landscape and a deeper understanding of the opportunities available across the market,” he said.
Kumwenda said through the initiative, Malawi is better positioned to attract additional capital and encourage investors to consider the country as a long-term investment destination.
He said the initiative brings together Nico Group’s financial expertise and business networks with the Malawi Government’s investment and industrialisation agenda, focusing on connecting potential US investors with investment opportunities
Kumwenda said through the partnership, Nico Group and the ministry are promoting Malawi’s investment potential.
Minister of Industrialisation, Business, Trade and Tourism Simon Itaye said in a separate interview that agriculture, tourism, mining and manufacturing (ATMM), private sector development, industrialisation, export growth, value addition and job creation are central pillars for transforming the economy.
He said there is need for increased investor participation to boost the country’s standing to attract FDI inflows.
Said Itaye: “Malawi is open for business and presents a range of investment opportunities for domestic, regional and international investors.
“The country is strategically positioned in Southern Africa and offers access to a growing domestic market as well as regional and continental markets through the Southern African Development Community, the Common Market for Eastern and Southern Africa and the African Continental Free Trade Area.”
In a statement, Africap LLC president Robert Shcarar, whose firm is also part of the delegation to Malawi, described Malawi as a promising market with significant long-term opportunities for investment.
He said: “It [Malawi] offers a compelling investment environment, underpinned by a welcoming population, a growing consumer class and a range of opportunities across sectors.
“For investors with a long-term perspective, we see considerable scope to participate in Malawi’s economic growth.”
Through Malaiw Investment and Trade Centre, the country has over the years engaged in a number of initiative to boost foreign and local investment.
