By Chisomo Phiri
Chief Executive Officer (CEO) for Press Corporation Plc Dr. Ronald Mangani has emphasized the importance of collaboration between the private sector and government to drive economic growth.
Speaking at CEO Roundtable Conference in Blantyre on Friday, Mangani highlighted the need for a private sector-led mixed economy, where both sectors play distinct roles to address key constraints.
He noted that while the private sector is the engine for growth, the public sector must provide the necessary support to propel the economy forward.
Said Mangani:”Effective collaboration, governance, accountability, and transparency are essential for success.
“The agricultural sector was singled out as critical for development, with a focus on improving performance to drive industrialization.
“The government’s efforts to address challenges in this sector are commendable, and the private sector is urged to invest in agro-processing and value addition.”
He cited high interest rates as a significant challenge for private operators, and suggested rethinking monetary policy to entice private sector borrowing and investment.
Mangani stressed the need for a production-focused approach to economic management, highlighting the challenges faced by the country and the importance of collaboration to achieve economic growth.
On his part, CEO Africa Roundtable Chairperson in Malawi George Damson, shared insights on Malawi’s forex challenges, attributing the issue to a balance of trade problem.
“We are importing more than we are exporting,” he said, emphasizing the need to reduce the import bill and increase exports.
To boost exports, Damson suggested making Malawi’s products more competitive in the international market and providing incentives to the private sector.
“We need to make sure that we have enough incentives to the private sector so that they don’t feel hamstrung when they want to export their products outside,” he said.
He further highlighted the importance of fully utilizing the trade offices in Malawi’s embassies abroad to market the country’s products.
Damson also stressed the need for collaboration between the private and public sectors to address the forex challenge.
“I think Malawi is blessed with a lot of human capital. People know what needs to be done, and I believe that the fundamentals to make sure that we correct this situation are in place already,” he said.
Furthermore, Damson suggested relaxing bureaucracy in approvals and certifications to improve the business environment.
“We can eliminate some of the processes that are unnecessary and make it easier for businesses to operate,” he said.
Damson expressed optimism about Malawi’s potential to address its forex challenges and promote economic growth.
