MCA-Malawi appeals for energy investment

MCA-Malawi appeals for energy investment

Millennium Challenge Account Malawi has pleaded with investors to invest in the energy sector.

Speaking during a media orientation workshop in Blantyre, Xilani Khonje, communication and outreach director for MCA-Malawi said currently the entity has provided a conducive environment for energy through its ongoing energy sector reforms.

“We have so far helped in the review of energy and mining act which has the potential of accommodating private companies to invest in the Malawi’s energy sector,” said Khonje

Among others the communication director said MCA-Malawi has managed to establish Electricity Generating Company and reached 51% of its compact agreement hence progressing well.

“Components of Millennium Challenge Corporation are infrastructure development, energy sector reform as well as environmental and natural resources management” Khonje said.

The 350.7 million dollars project began in 2013 and will phase out on 20 September 2018.

Deputy director of MCA-Malawi Lameck Mithi said Under the project the Trust is constructing 5 new stations, power lines and rehabilitating Nkula A hydropower station.

“Currently only 10 percent of Malawi’s population access electricity which is also unreliable therefore the project was introduce to help generate more electricity which is key to economic growth hence reducing poverty,” explained Mithi

Malawi estimates that by 2013 the population which will have access to electricity will increase to 30 percent and by 2040 to 60 percent.

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