LOCAL INVESTORS NOT FORTH COMING -PPPC

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The Public Private Partnership Commission PPPC has faulted local investors for not showing interest in joint ventures with foreigners especially in PPPC’s facilitated deals.

The body’s Chief Executive Officer Jimmy Lipunga said this following the brokering of Ethiopian Airlines and Simba NET for Aviation business and Fiber optic connection respectively.

In both categories it was noted that the investors will  the projects on a solo ticket.
“It is not our wish to sideline local investors in these deals; we cannot force someone to invest, if the locals are not interested we cannot do otherwise.

“We did not receive bidders from the locals when were advertising fora potential air Malawi strategic investor, we could not delay furtherthe processes in waiting for the locals to come forward, we found it wise to go on with the interested bidders regardless of the origin of the interested investor.” Lipunga said.

Though some locals had expressed interest to run the then sinking flag carrier, it was realized that they did not bid when authorities opened up for a possible takeover.

It is not clear whether these investors are willing to buy 31% which has been reserved for local investors one year after the airliner’s kick off.

On the other hand, Lipunga said it was the responsibility of the locals to initiate a possible partnership with the entrusted preferred bidder: Simba Net.

However, in a separate interview, The Indigenous Business Association of Malawi –IBAM president Mike Mlombwa differed with the PPPC boss,saying local investors have been left behind in big investments where according to him conditions are favoring foreigners.

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Robert Ngwira
Attended Our Future Private Secondary School in Rumphi from 2006-2009 Holder of Diploma in Journalism from Malawi Institute of Journalism (MIJ) Hobbies, reading newspapers, going out with friends, listening to radio and watching football. Email: info@faceofmalawi.com

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