Afrexim Bank to assist Malawi in development

Afrexim Bank President and Chairman of Board of Directors Benedict Oramah has expressed commitment to assist Malawi in its development agenda

Oramah was speaking in Accra Ghana after holding a closed door meeting with President Lazarus Chakwera and Malawian delegation

He said Afrexim bank is helping in developing two industrial parks in Lilongwe as well as Blantyre and will assist government in developing mega farms

“We share a long term partnership with Malawi as over the years the bank has been supporting the country in many ways,” Oramah

Afrexim Bank President said right now there are transformative projects and have done all studies to commence the works following Chakwera’s directive to make them come to light very quickly in order to create jobs and exports thereby stabilizing the economy

He added that Afrexim Bank will also assist Malawi in searching for investors who will help in development of mega farms which are one of Chakwera’s flagship programmes.

In his remarks Chakwera said the discussions centered around Malawi’s economic plight in the face of excessive debt the country incurred with the bank years back.

The president added that since he assumed office has engaged with the bank on a clear roadmap that will help the country address the issue of debt sustainability through a viable debt management plan

He said the anomalies that underlined commencement of that debt have disrupted Malawi’s positioning with multilateral lending institutions such as International Monetary Fund.

Therefore Chakwera has reassured Afreximbank that Malawi will not stray from the agreeable path.

He revealed that other equally important issues on the table were the bank’s commitment to support some of programs such as mega farms.