Malawi Tourism Association on Friday appealed to commercial banks to be flexible on repayment of loans that business operators accessed in anticipation of the African Union Summit which has since been shifted to Ethiopia.
In a statement, the association said tourism players have been affected by the cancelation to host the AU summit.
‚ÄúThe association would like to appeal to finance lending institutions to assist tourism operators who may be affected by allowing them to re-negotiate re-payment arrangements because the situation has arisen from circumstances beyond their control,‚ÄĚ reads the statement.
The tourism operators say it is regrettable that the cancellation occurred when they had already invested in their businesses.
‚ÄúThe association appreciates the seriousness of the reason for the withdrawal, however it is regrettable that the decision came after many members had already spent a lot of money,‚ÄĚ reads the statement adding;
‚ÄúThe expectation, of course, was that they would make considerable profits during the Summit to help them recover the resources they spent to prepare for the Summit‚ÄĚ.
The Malawi government refused to allow war crimes suspect Sudanese President Omar Al-Bashir to attend the summit a decision that forced African Union to shift the summit to Ethiopia.