His excellence, Dr. Lazarus McCarthy Chakwera, President of the Republic of Malawi, Professor Benedict Okey Oramah, Chairman of Afreximbank and the Bank’s Board of Directors, and the Founding Chairman of ARISE Integrated Industrial Platforms (ARISE IIP), a pan-African developer and operator of world-class industrial ecosystems, Mr. Gagan Gupta, unveiled the “Malawi Industrial Park [Magwero Industrial Park], an integrated industrial park located 10 km from the capital, Lilongwe. More than 5,000 guests attended this high-level ceremony, including many international and national project partners as well as local communities.
The ceremony follows the framework contract signed on June 19, 2023 between the Republic of Malawi, represented by the Malawi Export Development Fund [Malawi Export Development Fund], and ARISE IIP for the development of an integrated industrial park around Lilongwe as part of a public-private partnership. Afreximbank, the main financial partner of ARISE IIP, will finance the project to the tune of US$300 million.
Designed to accelerate Malawi’s industrialization process through two pillars, the diversification of its economy and the valorization of its natural resources, the industrial park is expected to accommodate industrial units from different sectors, including:
- There local processing of agricultural products such as soybeans, cotton, tomatoes, corn, peanuts and retail food products.
- manufacturing industryincluding glass production units, building materials, lighting products such as LED accessories, plywood and paper production.
With an area of 417 hectaresthe industrial park enjoys a strategic location, approximately 10 km from Kamuzu International Airport and the capital of Malawi, while being close to the Malawian rail network.
The park will include an industrial zone, logistics warehouses, a residential zone, an internal container depot terminal (ICDT) and a “Plug and Play” infrastructure, providing ready-to-use hangars for small and medium-sized businesses.
His Excellency, Dr. Lazarus McCarthy Chakwera, President of the Republic of Malawi, said: “As part of promoting economic development through industrialization, we have officially started the construction of the first special economic zone in Malawi with the help of Afreximbank and ARISE Integrated Industrial Platforms.” He added that the Magwero Industrial Park project will have state-of-the-art infrastructure to accommodate and support a wide range of functions in multi-industrial value chains in manufacturing, packaging, research and innovation, logistics and storage, and dry port services before the products are exported.
Professor Benedict Okey Oramah, Chairman of Afreximbank and of the Board of Directors of the Bank, highlighted the significant potential of the project to contribute to the development and diversification of Malawi’s economy: “We expect the Magwero Industrial Park to generate at least 15,000 jobs for Malawians, US$600 million of annual export earnings and approximately US$600 million in foreign direct investment. This will significantly boost Malawi’s economy and improve the quality of life of its citizens while positioning the country as an active and dominant player in the emerging single continental market. He added that “strong political will and leadership supported by African capital and innovation represent a powerful force that will lead to positive economic transformation.”
Mr. Gagan Gupta, Founding President of ARISE IIPsaid : ” We are extremely proud of this new partnership with the Government of Malawi. The Magwero Industrial Park is more than just an economic zone, it is a particularly impactful project for Malawi and aims to catalyze investment and local job creation. This lasting partnership which is taking shape today with the Republic of Malawi aims to catalyze the industrialization of the country by creating industrial value chains supported by international investors. »
