Political instability scaring investors – Mutharika


President Arthur Peter Mutharika says the current political instability is scaring potential investors from investing in the country.

President Mutharika was speaking to journalists Saturday at Kamuzu International Airport (KIA) in Lilongwe on arrival from Sochi, Russia where he attended the first ever Russia-Africa Summit.

Mutharika: back home

He said some foreign leaders and business executives he interacted with at the summit were wary of the instability in the country which could adversely affect their investments should they decide to come and invest.

Malawi has been characterised by violent protests since May 21 Tripartite Elections which some opposition political parties say were incredible and marred by irregularities.

Opposition Malawi Congress Party (MCP) and UTM Party leaders Lazarus Chakwera and Saulos Chilima are in court challenging the Presidential poll results which Malawi Electoral Commission (MEC) declared Mutharika as winner.

Human Rights Defenders Coalition (HRDC) has been organising what it calls peaceful demonstrations to force MEC chairperson Justice Dr Jane Ansah SC and commissioners to resign for alleged mismanagement of the polls.

Ansah has refused to resign saying she would wait for the outcome of the court proceedings.

Ironically, the demonstrations are characterised by violence, burning and looting of both public and private property to the surprise of the world at large which has ever regarded Malawi as among the most peaceful countries.

The President and his government have been asking the demonstrators to stop the protests and wait for the outcome of the court proceedings.

To this effect, President Mutharika told journalists at KIA that he is ready to work with everyone in the country, including the opposition parties and civil society organisations, to build a better future for Malawi.

Mutharika said the summit was aimed at building a new structure of relationship between Russia and Africa that would mutually benefit all countries involved.

The President further said there are a number of Russian investors interested in investing in Africa and Malawi, in particular, in the areas of agriculture, mining and information and communications technology, among other sectors.

“What we have to do now is to sit down and identify areas that these investors can invest in.

“After identifying the areas, we can then invite them to come and invest in identified areas,” Mutharika said.

President Mutharika left the country on Monday to attend the first ever Russia-Africa Summit.

Over 40 Heads of State and Government and more than 3000 delegates from across Russia and Africa attended the summit.

The President was accompanied by Minister of Finance Joseph Mwanamvekha, Minister of Foreign Affairs Francis Kasaila and Minister of Trade Salim Bagus at the summit.

Report by Manasse Nyirenda Malawi News Agency