His Excellency, Dr. Lazarus McCarthy Chakwera, President of the Republic of Malawi, recently launched the Magwero Industrial Park project in Lilongwe. The launch event took place on 1st June 2024 in Magwero, Lilongwe and was attended by Mr. Gagan Gupta, President-Founder of ARISE IIP, and Prof. Benedict Okey Oramah, President of Afreximbank.
The launch event is a follow up to a contract signed in June 2023, between the Government of Malawi, represented by the Export Development Fund (EDF), and ARISE Integrated Industrial Platforms (ARISE IIP). Under a public-private partnership, this agreement defines the development of an integrated industrial park in area 55, Lilongwe.
Ownership structure entails 65% held by ARISE IIP and 35% by Export Development Fund (EDF), emphasizing a collaborative approach towards industrial advancement.
The financing for this ambitious venture, totaling USD 300 million, will be facilitated by Afreximbank, a financial partner of ARISE IIP.
The Magwero Industrial Park is poised to drive Malawi’s industrialization by leveraging diversified economic activities and natural resources. It is expected to generate an annual revenue of approximately $600 by accommodating various industrial units. These units will include local processing facilities for agricultural products such as soybeans, cotton, tomatoes, maize, and peanuts, as well as manufacturing enterprises specializing in glass production, construction materials, LED accessories, plywood, and paper.
Beyond economic diversification, the project aims to create employment opportunities. Approximately 15,000 jobs are anticipated to be generated.
Spanning 417 hectares, the industrial park strategically sits about 10 km from Kamuzu International Airport and Lilongwe’s city center. Its proximity to the Malawian railway network enhances accessibility and logistical convenience. The park will feature an industrial zone, logistics warehouses, residential quarters, an Internal Container Depot Terminal (ICDT), and “Plug and Play” infrastructure tailored for small and medium-sized enterprises.
EDF’s commitment to the Magwero Industrial Park is pivotal for Malawi’s industrialization efforts. With a substantial ownership stake, EDF plays a crucial role in driving economic growth and ensuring the project’s success for the nation.
