Bank of America to Energize Malawi Private Sector- Mutharika

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    President Peter Mutharika says there is a possibility for the private sector to be energized following interest of The Bank of America to invest in the country.

    Mutharika made the remarks after meeting Yvone Ike who is the Managing Director and Head of Sub-Saharan Africa at the Bank of America.

    He said the coming of the Bank to Malawi would help the private sector access affordable loans that could energize the private sector.

    “During the UK-Malawi Investment Summit, I also had a successful discussion with Yvonne Ike who is the Managing Director and Head of Sub-Saharan Africa at the Bank of America,”

    “The Bank of America is interested to establish itself in Malawi. Their indicative interest rates are competitive and I told them they are welcome to do business in Malawi,” he said.

    Mutharika said the UK visit was fruitful as the country managed to interact with several potential investors.

    “We used our visit to the UK to tell our story in a bold way,”

    “Several Malawian companies that were part of my delegation had an opportunity to interact with investors and pitch their business proposals there,” he said.

    Mutharika left the UK yesterday after atteding the UK -Africa Investment Summit. He is expected to land at Kamuzu International Airtport in Lilongwe this afternoon.