Friday
November 19
2021

Malawi $1 Billion Energy Deal To Boost Economy

By Nomvuyo Tena

Malawi is open for business: The East African country is pursuing various investment and trade deals to help boost their economy and in line with this have signed a $1 billion deal with Egyptian multinational electrical company, Elsewedy Electric.

Following negotiations between President Dr Lazarus Chakwera and President and CEO of Elsewedy Electric, Ahmed Elsewedy, the Minister of Trade, Sosten Gwengwe signed the memorandum of understanding (MoU) on behalf of the government in Durban, South Africa.

Photo courtesy of Lukas Bato.

Source: ESI Africa (link opens in a new window)

Categories
Energy, Finance
Tags
energy access, manufacturing, tourism