Minister Matola pleads for Investment in Africa countries
In a fervent appeal to the global financial community, Malawi’s Minister of Energy, Ibrahim Matola has emphasized the urgent need for financial aid and investment in African nations’ towards resilient low-carbon transportation systems and the mobilization of finance without conditions.
Matola made the remarks when he was addressing a high-level panel at the Transforming Transportation 2024 (TT24) event in Washington D.C, United States of America (USA).
He said despite being a landlocked nation, Malawi is rife with issues surrounding energy and transport that challenge its development.
“The issues of energy and transport are intertwined. They cannot be separated. It’s a chicken and egg situation,” Matola said.
He urged the international community not to leave Africa behind, and to consider African nations as partners in global development. Pressing the World Bank and other global finance bodies for a partnership approach towards financial aid.
Matola added: “When it comes to infrastructure, you give us many pages of conditions to fulfil, and in the end, you label us a risk country where you cannot invest.”
Citing an urgent need for education reform in Africa, Matola underscored the importance of investing in education and innovation, drawing parallels with China and India’s meteoric development in the past two decades.
He also pointed out Africa’s untapped potential, saying that Africans are natural engineers and innovators that require support from the global community.
Discussing the detriment of imposed structural adjustments and lack of viable infrastructure, the issue of wasted resources due to the archaic and inadequate transport system.
He stressed the need for energy and viable transport systems to ensure rural communities, like those in Malawi, have access to essentials such as vaccines and drugs.
Committed towards the global shift to e-mobility, Matola highlighted that while Malawi spends nearly half a billion U.S dollars on fossil fuels, the country is eager to be a part of the e-mobility transition.
In a laudable effort, the Malawian government, led by President Dr. Lazarus McCarthy Chakwera, is on the path of reviewing laws to fit in with emerging technologies and has opened doors to accommodate the private sector in energy and transportation, however, financial aid is sought for a more profound change.
Matola emphasized Malawi’s shift towards harnessing clean energy resources, like hydro and solar power.
“We need your investment. Don’t label Africa or Malawi, or the whole continent, as fragile. Yes, there are some fragile states in the continent, but don’t label the continent of Africa or countries in Africa as a whole as fragile,” he said
Matola’s heartfelt speech resonated with an earnest plea to break free of the shackles of conditional aids, and see Africa as an equal partner in global development, offering a comprehensive roadmap for propelling African nations towards a sustainable future.
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