Think outside box, industry told

President Lazarus Chakwera on Friday urged the business community in the country to pursue innovative business models while providing tangible solutions to economic problems gripping Malawi. “Break those boxes. In this country, I hear so many answers to our problems almost every day but I hear little solutions to these problems.

Let us change, going forward,” said the Malawi leader. Chakwera said the country has a lot of potential to turn into a productive, industrialised as well as a wealthy economy as envisioned by the Malawi Vision 2063 but stressed that the private sector is key in realising such a vision. Industrialisation is one of the three pillars of the Malawi 2063 Vision while private sector dynamism is one of the seven enablers of the same blueprint.

Speaking earlier, Malawi Confederation of Chambers of Commerce and Industry President Lekani Katandula commended the government for formulating tough but “decisive” economic policies which, he said, are now bearing fruits. He cited the recent 44 percent devaluation of the Kwacha which he said has started to unleash positive multiplier effects on the economy. “Now as a result of such decisions, we immediately qualified for a new ECF [Extended Credit Facility] programme and also we have seen the resumption of direct budget support,” he said.