President Chakwera launches Malawi mining funding firm, appoints Professor Kalindekafe as CEO

By Twink Jones Gadama

In a bid to spice up Malawi’s economic system, President Lazarus Chakwera has launched the Malawi Mining Investment Company (MAMICO), a state-owned enterprise aimed toward selling the nation’s mineral sources. Professor Leonard Kalindekafe, a famend professional within the subject of mining, has been appointed as the corporate’s first CEO.

MAMICO, which is able to function below the Malawi Development Corporation (MDC), goals to harness the nation’s mineral wealth, together with uncommon earth minerals, gold, uranium, niobium, and graphite, to generate international change earnings. According to President Chakwera, the corporate will concentrate on exploiting these minerals to learn the nation and its residents.

The launch of MAMICO is a big milestone in President Chakwera’s efforts to diversify Malawi’s economic system and cut back its dependence on tobacco exports. The mining sector is predicted to play a vital function within the nation’s financial progress, with the potential to create jobs, stimulate financial exercise, and generate income for the federal government.

Professor Kalindekafe, who has in depth expertise within the mining trade, is well-placed to guide MAMICO. His appointment as CEO is seen as a strategic transfer to make sure the corporate’s success, given his experience in mining and his understanding of the trade’s challenges and alternatives.

Under Professor Kalindekafe’s management, MAMICO is predicted to concentrate on a number of key areas, together with mineral exploration, mining improvement, and funding promotion. The firm can even work intently with native communities, civil society organizations, and different stakeholders to make sure that the mining sector advantages all Malawians.

President Chakwera’s resolution to launch MAMICO and appoint Professor Kalindekafe as its CEO demonstrates his dedication to reworking Malawi’s economic system and bettering the lives of its residents. As the nation continues to face financial challenges, the success of MAMICO shall be essential in driving progress, creating jobs, and decreasing poverty.

In his remarks throughout the launch, President Chakwera emphasised the significance of the mining sector in Malawi’s financial improvement. He famous that the nation has huge mineral sources, which, if exploited responsibly, can generate important income and create jobs for Malawians.

The launch of MAMICO is a optimistic step in direction of realizing President Chakwera’s imaginative and prescient of a affluent and inclusive Malawi. As the corporate begins its operations, it’s anticipated to make a big impression on the nation’s economic system and enhance the lives of its residents.