LILONGWE-(MANA)-The country’s social-economic experts have hailed the participation of President Lazarus Chakwera’s at the Unites States (US) Africa Business Summit in Dallas and at the Africa Fertilizer and Soil Health Summit in Nairobi, Kenya, saying it will help boost the countrys economy and improve the the livelihoods of Malawians.
In an interview with Malawi News Agency (MANA), renowned Political and Socio-Economic Commentator, Humphreys Mvula, said the Millennium Challenge Corporation-MCC Compact 2 initiative is likely to transform the transportation sector by constructing roads, which will create a conducive environment in tourism, agriculture, and mining sectors, resulting in job creation for the people.
“The trip taken by President Chakwera looks very promising in the process of amplifying and implementing the ATM strategy, which he is spearheading to revamp the country’s economy.
Through the initiative we should expect a number of both white and blue collar workers to be employed resulting in wealth creation among Malawians” said Mvula
He commended President Chakwera for his continued efforts in mobilising resources to ensure the livelihoods of Malawians are taken care of.
Mvula insisted on the need for Malawians to rally behind President Chakwera to make Malawi a transformative nation through various development initiatives.
Executive Director for the Centre for Social Accountability and Transparency (CSAT), Willy Kambwandira, expressed his appreciation for the outstanding progress of the project and has urged President Chakwera to ensure that the projects are successfully implemented.
Kambwandira also expressed his optimism for positive results from the trip and said he looks forward to seeing the fruits of their labour.
In his remarks, Minister of Information and Digitalisation, Moses Kunkuyu said Malawi’s recent participation in the US-Africa Business Summit witnessed the launch of the Millennium Challenge Corporation (MCC) Transportation and Land Compact worth $350 million during MCC’s 20th Anniversary Tribute Dinner.
“The compact, which will focus on the country’s transportation infrastructure and land productivity, aligns with Malawi’s Agriculture, Tourism and Mining (ATM) Strategy and Malawi’s development blueprint, the Malawi 2063 Vision” said kunkuyu.
He stated the compact which will significantly bolster critical infrastructure projects in the country, including road upgrades in key agriculture, tourism and mining areas, is poised to enhance the transportation of goods and services, to boost trade, tourism, investment and economic growth.
He indicated that through the $244,950,000 Accelerated Growth Corridors (AGC) Project, the compact will help Malawi address transportation challenges for agricultural commodities from farm to market.
The project will also help to create a transparent and competitive environment for transporters among other things. This will stimulate more agro-economic activities in these corridors and boost agriculture commercialisation in the country.
He also disclosed that the American Catalyst Facility for Development (ACFD) Project of the compact is also set to bolster investment in the country.
He said the project is designed to facilitate United States International Development Finance Corporation (DFC) investment in Malawi to catalyse private investment in the country.
Additionally, through the Increased Land Productivity Project worth over 44 million dollars, the compact will support efforts to improve land use and management. The project will help citizens to utilise land efficiently as well as improve agricultural productivity.
Kunkuyu said that Malawian companies will also benefit from the compact for they have the opportunity to participate in the projects. This will both improve local companies’ financial standing and job creation in the country.
He said President Chakwera’s attendance at the Africa Fertilizer and Soil Health Summit in Kenya also yielded unprecedented results for agriculture in the country. On the sidelines of the summit, the Alliance for a Green Revolution in Africa (AGRA) assured President Chakwera of 45 million dollars to support agricultural productivity, enhancing fertilizer and soil health. The investment will significantly address Malawi’s food security challenges and boost socioeconomic development.
Kunkuyu further said that the MCC, AGRA and other agreements that Malawi has made during the two summits will have a transformative impact on the country’s development agenda.
The agreements will help Malawi improve its transportation infrastructure and agriculture productivity, springboarding Malawi into a more self-sufficient nation.
On arrival on Friday from the USA and Kenya President Chakwera announced the launch of the US$350 million MCC Compact 2 and various agreements the Malawi delegation made with investors on the sidelines of these two summits.
