Old Mutual calls for post covid-19 recovery plan for Malawi

Premier financial services provider, Old Mutual Malawi Limited, says a robust post Covid-19 recovery plan for Malawi, with implementation involving public and private sector collaborations and partnerships, is a must for the country to economically get back on its feet and move on.

The company’s Chief Executive Officer (CEO), Edith Jiya, made the remarks during a panel discussion the company hosted on Friday evening in Lilongwe.

The discussion was held under the title: The Role of Private Sector Towards a Sustainable Recovery Agenda-Post Covid-19 Recovery Plan for Malawi.

State Vice President Dr. Saulos Klaus Chilima was the Guest of Honour at the event, which attracted top officials from the public and private sectors.

The panel discussion was an inaugural conversation of the newly introduced Old Mutual Partnership Conversation Series.

With an overarching theme: “The power of partnerships to unlock opportunities”, the series is a platform for public and private sector leaders to discuss and share practical solutions to a range of issues affecting people, the economy and the environment.

Jiya emphasized that this is an opportune time for Malawi to question herself if it has any post covid-19 recovery plan.

“As a nation, we have sung the lamenting songs of how the effects of Covid-19 have battered our livelihoods and economy. We have diligently documented the economic casualties this pandemic has caused.

“It is now time to execute our plans to contribute towards a recovery plan for the benefit of our nation. A time when we should work together as partners to truly re-imagine our future. If we fail now to act together, decisively and with purpose, then we are failing future generations,” said Jiya.

She added that from the time the Covid-19 pandemic struck, Old Mutual Malawi Limited has responded swiftly to the urgent need to help the government in slowing down the virus, providing relief and mobilizing resources to fight the pandemic.

“The fruits of such partnership represent the epitome of what can be achieved through collaboration between government, private sector and other professional bodies. Our partnerships need to be aligned to creating and maintaining a brighter future for our people whilst ensuring that profits are sustainably earned.

“The post-pandemic recovery should collectively leverage these investments to create a more resilient and prosperous nation. A nation ready for sustainable growth. As Old Mutual, we will act decisively and with purpose as we re-imagine and reconstruct our sustainable collective futures,” she said.

In his remarks, Chilima emphasized that the government takes the issue of post Covid-19 recovery plan seriously.

He added the Ministry of Economic Planning, Development and Public Sector Reforms, which he heads, is already developing a Malawi Covid-19 Social Economic Recovery Plan.

According to the Veep, the overall aim of the plan will be “to enhance the capacity of Malawi and its people to effectively recover from the adverse effects of the covid-19 pandemic and facilitate the transition to effective implementation and realization of their development aspirations as espoused under the Malawi 2063”.

“We are aware and recognize that the plan will require strategic and sustainable investments in areas such as health and education systems strengthening, protecting people especially the vulnerable and creating an enabling environment for sustainable economic recovery.

“The finer details of the plan will come out soon. We will involve all relevant stakeholders including the private sector, development partners, civil society, academia and media,” said Chilima.

He commended Old Mutual Malawi Limited for introducing the Partnership Conversation Series initiative, saying the private sector must be strategic and reliable and move with time.

“We surely require a public and private sector partnership that can create jobs and boost small-scale businesses for the people of Malawi especially in the face of the adverse effects of covid-19,” he said.

Panelists to Friday’s panel discussion included: the chief executive officer of the Malawi Confederation of Chambers of Commerce and Industry Chancellor Kafelapanjira, United Nations resident coordinator Maria Torres Macho, Secretary for the Ministry of Economic Planning Winford Masanjala and Old Mutual Malawi Limited Chief operations officer Khumbo Phiri.

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