Export Development Fund (EDF), in collaboration with the Ministry of Trade and Industry, Afreximbank, and ARISE Integrated Industrial Platforms, recently hosted a Business Roundtable Discussion focused on advancing Malawi’s export manufacturing sector to stimulate economic growth and development. The event provided a collaborative platform for business leaders and policymakers to share insights, discuss challenges, and identify actionable strategies for boosting export manufacturing, particularly through the utilization of special economic zones (SEZs).
This initiative aligns with Malawi's ongoing agenda to enhance its export manufacturing capabilities. The government acknowledges the sector's critical role in driving economic growth, contributing significantly to GDP, employment, and foreign exchange earnings.
In his opening remarks, Minister of Trade and Industry Honourable Sosten Gwengwe reiterated the government's commitment to supporting export manufacturing industries.
"The government is dedicated to providing the necessary policy support to boost export manufacturing. Through initiatives such as special economic zones and industrial parks, we aim to transform Malawi into a predominantly producing and exporting country. However, to achieve this, we need the financial sector and private sector to capitalize on the opportunities created by these initiatives and develop financial solutions that support the growth of export-oriented industries,” said Gwengwe.
The roundtable was moderated by Mr. Vizinge Kumwenda, Group Managing Director of Nico Holdings. Panellists included Ms. Christina Zakeyo, Secretary for Trade and Industry, Dr. Lyton Chithambo from Press Corporation, Mr. Nyasha Mtengwa from the World Food Programme, Ms. Oluranti Doherty, Director of Export Development at Afreximbank, and Mr. Philip Madinga, Chief Executive of Standard Bank Malawi. Doherty emphasized the importance of public-private partnerships in enhancing access to finance and fostering industrial growth in Malawi. This sentiment was echoed by Madinga, who highlighted the critical role of collaboration between the private sector and the government in diversifying the country's export base.
The Business Roundtable Discussion served as a catalyst for collaboration among government entities, industry leaders, and financial institutions. The focus on SEZs and improved access to finance were identified as key drivers for achieving economic transformation through a robust export manufacturing sector. The collective commitment from both public and private sectors positions Malawi to significantly enhance its export manufacturing sector and achieve sustainable economic growth.