lack of investment in energy generation Affects business environment-MCCCI

The Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has said in spite of the Covid-19 pandemic, the business environment in Malawi continues to be poor for it to stimulate private sector in terms of increased output as well as making new investments.

In its submission of private sector pre-budget inputs for the 2020/21 fiscal year to Finance Minister, Joseph Mwanamvekha, MCCCI says the 2019 Malawi Business Climate Survey which is an annual survey it conducts revealed many obstacles to doing business for manufacturers in Malawi.

MCCCI says although there has been a slight improvement in electricity supply during the 2019/20 fiscal period compared to the previous years, it has still been associated with uncertainty of black outs and high fixed costs.

According to MCCCI, is due to a lack of investment in energy generation as planned.

MCCCI says the private sector expects full support by the government on energy generation initiatives by among others improving governance in Escom to ensure that resources from increased tariffs are used for intended purposes.