Business captains say Chakwera’s tough economic policies bearing fruits
Business captains are saluting President Dr Lazarus McCarthy Chakwera for tough and decisive economic policies which they say are now paying off.
The Malawi Confederation of Chambers of Commerce and Industry (MCCCI)
President Lekani Katandula said this on Friday during a cocktail State House organised for business captains.
Katandula said the recent decision by the government to devalue the Malawi Kwacha against the United States Dollar is now bearing fruit with many positive economic effects on the economy.
“Though the decision was not popular at the time it led to the immediate qualification for the ECF (Extended Credit Facility and consequently resumption of direct budget support,” said Katandula.
Addressing the business captains, Dr Chakwera urged the business community to think outside the box and start providing tangible solutions to economic problems facing Malawi.
Chakwera encouraged the private sector to build more synergies among themselves if Malawi is to prosper in line with the Malawi2063 agenda.
He said on Friday evening at Sanjika Palace in Blantyre during a Presidential Business Captains Dinner that he hosted for business captains from across all sectors.
The President said the business community must be looked at as one bloc that has potential to spur economic growth.
He bemoaned the current tendency of segregating the contingent based on racial or cultural disparities.
He said going forward, focus should only be on how businesses can contribute to an export-driven economic trajectory in line with the Industrialization pillar within the Malawi2063 framework.
The event provided an opportunity for an introspection into the welfare of the economy and opportunities that are available within the current business environment.
