By Rahim Abdul
Malawi’s Ministry of Mining has signed a landmark Memorandum of Understanding (MoU) with Chinese multinational Hunan Sunwalk Technology Group, securing a $7 billion investment in the country’s mining sector.
The agreement, signed on on Monday aims to strengthen bilateral cooperation and promote sustainable investment, technological innovation, and capacity building.
The MoU marks the beginning of a strategic partnership designed to unlock Malawi’s mineral wealth and drive long-term economic growth.
According to Minister of Mining, Hon. Kenneth Zikhale Ng’oma, the decision to partner with Hunan Sunwalk followed thorough evaluations, including environmental and social impact assessments.
The investment is expected to bring numerous benefits, including job creation, technology transfer, and economic development.
Hunan Sunwalk Group’s Founder and CEO, Mr. Hou Xingwang, highlighted the potential for collaboration in other sectors, such as agriculture.
The partnership is expected to have a significant impact on Malawi’s economy, with potential benefits extending beyond the mining sector.
This is the first time Malawi has signed such a comprehensive MoU with a multinational corporation in the mining sector.
The deal sets a positive precedent for future investments and demonstrates the government’s efforts to create a favorable business environment.
