The Bank Gives Malawi Investment Forum MK50 million Boost

Standard Bank has contributed MWK50 Million to the government through the Ministry of Trade to help in preparations for the Malawi Investment Forum (MIF) to be hosted in Johannesburg later this month.

The MIF will take place from May 24 to 25.

Chief Executive Phillip Madinga said at the presentation that it is part of the bank’s initiative to promote and stimulate dialogue on trade policy while helping create markets for Malawian products.

“Standard Bank is championing Malawi’s trade agenda because we fully appreciate the critical role of regional and international trade in anchoring the economy. Being a part of Africa’s biggest bank by assets—the Standard Bank Group—gives our partners leverage to regional and international markets in Europe and Asia, hence the upcoming forum augers very well with our positioning,” he said.

Madinga said Standard Bank’s commitment to help shape trade agenda is backed by specialized expertise in trade financing and corporate investment banking and challenged participants to the upcoming MIF to bring bankable projects to the bank’s attention for solutions.

He said locally the bank has launched the Trade Round Table Series to create a platform for engagement of key stakeholders on trade.  At the regional level, the Standard Bank group is a  partner in dialogue forums on the African Continental Free Trade Area (AfCFTA) agreement, he said.

“When fully implemented, the AfCFTA has potential to expand the size of Africa’s economy to US$29 trillion by 2050 and turn Africa into an unparalleled global economic powerhouse given the continent’s vast natural endowments and a growing youth population,” said Madinga.

Minister of Trade Simplex Chithyola said the maiden Malawi Investment Forum is important to the country as it will help to expose opportunities available in Malawi to foreign investors.

“These investors are crucial towards fulfilling our industrialization drive, forex generation drive as well as job creation drive,” he said.

Speaking about the event, Malawi’s High Commissioner to South Africa, Mrs. Stella Ndau said it has been organized to showcase the immerse and mostly greenfield investment opportunities available in Malawi, in various sectors, to South African based potential Investors and beyond.

As a country, Malawi is expected to benefit from any investments which will be achieved and secured at this event and that investors will also benefit and see value in the country’s rich and abundant natural resources, favourable climate for agriculture, and various tourist attractions among others,” she said.

Over 300 delegates are expected to attend the forum from May 24-25 under the theme; A Prosperous Malawi through Strategic Investment Partnerships”.