Malawi will be expecting the President of the African Export-Import Bank (AFRIEXIM), Prof. Benedict Oramah, on July 17th. One of the objectives of the visit is to sign a Memorandum of Understanding (MoU) with President Prof. Peter Mutharika on a number of projects to be executed in the next five years.
According to the Deputy Director in the Ministry of Industry, Trade and Tourism, Silas Sindi, some of the projects that will be signed for will be the construction of Matindi Industrial Park in Blantyre, an International Airport as well as a five Star Hotel in Mangochi and another industrial park at Area 55 in Lilongwe and Liwonde Dry Port.
“We are happy as a Council to have such projects they comes with it huge benefits.” said District Commissioner (DC) for Blantyre, Bennet Nkasala, “The District’s Labour Office receives a minimum of 3, 000 job applications per month. This is a clear indication that a lot of people, especially the youth do not have any form of employment.”
African Export–Import Bank, also referred to as Afreximbank, is a pan-African multilateral trade finance institution created in 1993 under the auspices of the African Development Bank. It is headquartered in Cairo, Egypt. Afreximbank’s Vision is: To be the trade finance bank for Africa.Its Mission Statement is: To stimulate a consistent expansion and diversification of African trade, so as to rapidly increase Africa’s share of global trade; and in doing so, to operate as a first-class, profit-oriented, socially responsible financial institution and a “Centre of Excellence in African Trade Matters.”