Mutharika courts New York business tycoon to invest in Malawi

President Peter Mutharika on Wednesday met New York business tycoon, Thomas Barry, President and Chief Executive Officer for Zephyr Management and discussed business opportunities the company may bring to Malawi.

Zephyr Management is a global emerging markets manager, specializing in the creation and management of highly focused private equity funds.

In an interview after the meeting, Barry said one of the areas of his interest in Malawi is to bring entrepreneurial training so that the youth are able to start their own businesses.

He commended Mutharika for initiating community technical colleges and pledged his support towards the initiative.

“We discussed community technical colleges, job creation opportunities when one finishes technical colleges.

“One of the innovative ideas is both entrepreneurial and small businesses and what has to be done is bring training and start small new businesses in Malawi,” said Barry.

He said it was important to promote community technical colleges to enable the youth start own businesses because most manufacturing and other companies employ graduates from other colleges and not technical colleges.

“So, we shall bring entrepreneurial training to Malawi,” said Barry.

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Mutharika’s administration has so far constructed 28 community technical colleges and he has pledged to construct a community technical college in each constituency.

“Madam Speaker, through the 28 community technical colleges we have established, we are training our youths in vocational skills. We want our youths to employ themselves and create jobs for others.

“I want our youths to drive our industrialization programme,” said Mutharika in his State- of- the- Nation Address for the 2019/2020 financial year Budget in Malawi.

Mutharika said he is committed to promoting a high quality, skilled and productive youth for them to participate in sustainable economic growth for our country.

“In order to respond to high unemployment among the youth, my government adopted the first- ever Graduate Youth internship Programme.

“We deployed over 4000 graduate Interns to various public institutions for them to gain work experience. Let me repeat what I have said before, we will offer jobs to all the youths under this internship programme,” he said.

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