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Thursday, June 13, 2024

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    Last Friday, President Dr. Lazarus McCarthy Chakwera organized a cocktail at Sanjika Palace for business captains from the private sector. The private sector, being the chief contributor to economic development, persuaded the state president to engage them on how to build concrete and enduring symbiosis within and across sectors that would accelerate growth through increased tax revenue and job creation.

    In his speech at the function, Chakwera advised business captains to think unconventionally and start providing tactile solutions to economic problems. The state president emphatically encouraged the private sector to build synergies among themselves in order for Malawi to register economic development in line with the 2063 agenda.

    Speaking on behalf of the business captains, the Malawi Confederation of Chambers of Commerce and Industry (MCCCI) President Lekani Katanduka hailed Chakwera for the tough and decisive economic policies that are now bearing fruits. The MCCCI boss highlighted the recent bold decision by the state leadership to devalue the Malawi Kwacha against the United States Dollar as among the policy decisions that have positive impact on the economy.

    “Though the decision was not popular at the time, it led to the immediate qualification for the Extended Credit Facility (ECF) and consequently resumption of direct budget support,” said Katandula.

    According to the Enabler 4 of the Malawi 2063 agenda, the nation envisages to create a private sector that is dynamic and competitive to facilitate the structural transformation of the economy and spur the development of a vibrant and significant middle class.


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