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Investing in MALAWI 2013 the Conference Is Supported By INVESTING IN MALAWI 2013 The conference is supported by Conference Hosts Foreword FOREWORD By Michael Nevin Her Majesty’s High Commissioner to Malawi S commercial agriculture, energy, mining, coal-producing Tete in Mozambique, with ONE tourism, and physical infrastructure opportunities in the service, banking, who development, including information and retail and other sectors as a result. communication technology (ICT). I sense Areturned to a new seriousness in Malawi to open up Malawi also offers stability. There is no Malawi only a to business and to create the conditions history of civil war. It is a functioning few months for private sector led development, democracy, with an independent judicial ago, after some increasingly moving the emphasis from system, including special commercial years away, it is aid to trade. courts. Malawians are known regionally a great pleasure and internationally for their hard work. to welcome you all to this Second To attract investment, Malawi is gearing The country has a varied but wonderful UK-Malawi Investment Forum here in itself towards creating an enabling climate. There are challenges, which the London, United Kingdom. environment for doing business. This Government is aware of and increasingly includes providing business incentives focused on. But like many of the The First UK-Malawi Investment Forum in and streamlining cumbersome business opportunities currently being developed 2008 ignited a lot of interest and enthusiasm. processes. I have heard Her Excellency in Africa, it is important for companies It generated further dialogue between The President on several occasions to realise the potential early in order potential investors and government challenge her government to promote to take advantage of market presence officials. New British investments in Malawi into the top 100 of the World and knowledge. agriculture (sugar, fruit processing, crop Bank’s “cost of doing business” index farming) and mining located Malawi as an within the next five years. This Forum could not have taken place investment destination. at a better time than now. It could also As well as promoting macro-economic not have been held in a better country Since 2008 there have been, as we all stability, the government is also investing than the United Kingdom, a country with know, issues which have caused rifts in heavily in infrastructure, especially which Malawi has enjoyed warm relations Malawi’s relations with the international in improving export corridors and over many years and which remains a key community. However, in April of last electricity generation and supply. In development partner for the country. year Joyce Banda was duly sworn in as this regard, Malawi’s membership of When I presented my credentials to the new President of the Republic. Her the Southern African Development President Banda last year, I promised Government swiftly published Malawi’s Community (SADC) is an asset (a SADC her that I would champion Malawi. This Economic Recovery Plan (ERP) as an Infrastructure Master Plan was agreed Forum helps champion Malawi’s cause, intervention to stimulate growth in the by the Community’s Heads of State late and its opportunities. economy in the immediate, short and last year). I agree with Malawi’s strategic medium term. approach to regional integration as the I would like to express my gratitude to catalyst to the country’s development Her Excellency The President and her Related to the ERP is the recently agenda. I believe that investors should Ministers and officials for making the launched Export Strategy. The strategy look at Malawi’s potential not just within journey to London and to Developing sensibly seeks to build on Malawi’s the confines of its own borders, but as Markets Associates for their great work existing commercial base. Agri-produce, a regional gateway. Mozambique, Tanzania, in putting this forum together. I trust mining and manufacturing are among Zambia are just some of the countries that this is only the beginning of a those sectors set to benefit from whose economies are doing well. Yet, productive relationship. increased government and private in some cases, English-speaking Malawi sector promotion. Malawi is setting in is a more convenient base than capitals Michael Nevin train a transformation of the economy, of the countries concerned. Blantyre, Her Majesty’s High and actively seeking investment in for example, is the closest major city to Commissioner to Malawi 2013 INVESTING IN MALAWI 1 INTRODUCTION AND WELCOME By Atam Sandhu, CEO, Developing Markets Associates N also impacts on youth employment, it potential Malawian partners, those is mainly at the subsistence level, and companies which have taken the time it is inevitably exposed to the vagaries and trouble to come to London with this of nature, both drought and flood. in mind. You will also hear from outside OBEHALF OF Nevertheless, government programmes companies which have established DEVELOPING of fertiliser subsidies have dramatically themselves in Malawi in the last few MARKETS boosted output in recent years, making years, and of their experiences. All in all, ASSOCIATES may Malawi a net food exporter. Meanwhile I hope that the day will provide you with I welcome you mining and construction have recently an update on a country in the process of all to Draper’s begun to account for a larger share in change from the perspective of business. Hall. May I also extend an especially warm the economy. welcome to the delegation from Malawi, More than that, though, I hope that it will led by Her Excellency, Dr Joyce Banda, In very recent years, too, there have been contribute to setting aside preconceptions President of Malawi, for being prepared issues of difficult relations with donor and indeed trigger an interest to go and to come to London to meet investors countries, notably the US and UK, with explore opportunities for yourselves. As when there are many pressing issues the International Monetary Fund and the Chinese proverb tells us, the journey facing the government. A welcome too, with neighbouring states. All of these are of a thousand miles begins with a single to the Malawi companies which have well documented. However, President step. Investment decisions are not made chosen to come to the Forum today Banda’s government has already reached lightly and not made hastily. If however in order to seek potential partners. out to its neighbours, with positive effect. today marks the single step to begin that The concept of partnership – be it a There is the government’s national journey then it has achieved its objective, joint venture between companies or development plan, the Malawi Growth for the delegation, for the companies the introduction of new investment to and Development Strategy (MGDS II, here today, and for DMA. help boost economic development – is 2011-2016), which identifies nine key the essence of what DMA’s trade and priority areas, some of which you will hear I wish you an interesting and investment events are all about. about today. And there are possibilities productive day. for new areas of development, such as Malawi remains one of the world’s for example eco-tourism. In addition, poorest countries and has faced growing looking ahead, Malawi should benefit macroeconomic management challenges from new links to the outside world for several years. The economy performed – essential for a landlocked country – well over much of the last decade, with through the infrastructure master plan growth of around 7.0%, well above the of the Southern Africa Development sub-Saharan Africa average, but that has Community (SADC). slowed in the last two years. Nevertheless the figure is still expected to be at 5.3% Today’s Forum provides an opportunity Atam Sandhu in 2013. Agriculture continues to be the to connect not only with representatives Chief Executive main economic activity, an issue which of the new government but also with Developing Markets Associates 2 INVESTING IN MALAWI 2013 Contents CONTENTS 01 FOREWORD 02 INTRODUCTION 03 CONTENTS 04 OVERVIEW 10 AGRICULTURE 14 INFRASTRUCTURE 18 EXTRACTIVE 22 TOURISM 25 PROGRammE 26 OUR PARTNERS 28 MAP Publisher: Chris Gerrard Contributors: Jonathan Levack, Natalia Debczak-Debski, Brian Naughton, Roger Murray Art Director: Steven Jones Conference Team: Deanne Lintorn, Frazer Lang, Rebecca Isaacs, Alison Hamilton Conference Directors: Leon Isaacs, Atam Sandhu, Roger Martin Correspondence Developing Markets Associates Ltd (DMA), 150 Tooley Street, London, SE1 2TU email: [email protected] | web: www.developingmarkets.com | www.moneymove.org | www.sendmoneypacific.org DMA acknowledge the assistance of all the individuals and organisations who have contributed to this publication. The views expressed herein are the opinions of the authors, and do not necessarily represent the High Commission of Malawi, the Government of Malawi or DMA. All rights reserved. No part of this publication may be reproduced or transmitted in any form without the written permission of the publisher. Published by Developing Markets Associates Ltd (DMA) Printed by Woodrow Press Picture credits: i-stockphoto.com © Developing Markets Associates Ltd 2013 INVESTING IN MALAWI 3 Economic Overview by Jonathan Levack ECONOMIC OVERVIEW FTER YEARS OF ECONOMIC maintain average per annum growth of Furthermore, despite growth, Malawi TURMOIL, Malawi’s 6.7% through to 2017 – both above the remains in a vulnerable position. Overly prospects have changed for average for sub-Saharan African. reliant on agriculture and foreign aid, the better. The unexpected the landlocked country is susceptible Atransition of power in the capital A VULNERABLE to the whim of mother nature, global Lilongwe in April 2012 offers real STARTING POINT commodity prices and international hope for the country and its 16 million donors. Agriculture has long been the citizens. The new government led by On the surface, Malawi’s economic backbone of the Malawian economy. President Joyce Banda has embarked performance over the last decade 80% of the population are engaged in on an ambitious programme of reform has also been encouraging.
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