Mike Mlombwa, chairman of the Indigenous Businessmen Association of Malawi said foreign investors are scared to put their US dollars in the country because of the unpredictable shaky and dwindling economy.
According to Mlombwa the instability of the kwacha and the high inflation rate, among others are some of the reasons that chase away investors and this dent Malawi as a risk country for investment.
“I attended the Japan/Africa summit in Kenya recently. Most investors said they cannot come to Malawi because the country is a risk country in investment. I urged and pleaded with them to come because their coming would improve the situation,” he said.
Malawi Investment and Trade Centre spokesperson Delby Chimbalu said the country has attracted 12 foreign investors who are bringing US$300m.