After the announcement that Malawi will be expecting the President of the African Export-Import Bank (AFRIEXIM), Prof. Benedict Oramah, he arrived in the country and announced that his firm would commit said his bank has earmarked $1.4 billion (K1.1 trillion) for investment in Malawi.

“We have $1.4 billion in the pipeline for development for Malawi, we will explain all the programmes once I have met all the investors,” Oramah told journalists during an interview after his arrival. A concept note prepared by Export Development Fund (EDF) has hinted that the funding will go towards the Mangochi International Airport, a holiday resort at Cape Maclear and a logistics park in Mangochi, industrial parks in Blantyre and Lilongwe.

Countrywide Group of Companies director Mike Mlombwa is expectant of $20 million from the bank, for the expansion of holiday resorts and apartments. “There are a lot of us who have come, we have hope that this will help us. We have many business persons in Malawi, as Countrywide, we have asked $ 20 million for hotels, resorts and apartments, it’s up to them to buy our projects,” he said.

Oramah is on a three-day visit to the country to meet businesspersons with bankable projects. He is also expected to sign finance agreements with President Peter Mutharika this afternoon.