By Watipaso Mzungu
South Africa-based Xioma Investment Limited has invested K76. 5 billion at its poultry farm in Mchinji, a development that will likely boost the poultry industry in Malawi as well as create employment opportunities for many job seekers.
The company is also into construction of roads and is currently liaising with the Malawi Government on possible financing of road projects.
The Roads Authority (RA) recently told Xioma Investment Limited that the government requires US$3.5 billion to construct modern projects and that the company is at liberty to choose which projects it can manage.
The company’s strategic partner Prophet Andrew Kambeja, told Malawi Voice on Monday that the investments are aimed at accelerating the social and economic growth of Malawi.
Kambeja, who is also a renowned Blantyre-based church founder and leader, disclosed the company has received abundant support from the Malawi Government.
“We have primarily been into several businesses in the past and right now we have decided to get into a business of rearing of chickens, which in a cycle of 5 weeks, we’re producing over two million chickens for supply both within and outside Malawi. This investment will allow the transfer of technology—particularly in the form of new varieties of capital inputs—that cannot be achieved through financial investments or trade in goods and services,” he said.
Kambeja said the company is excited to be given the opportunity to contribute to the socioeconomic development of Malawi.
“Currently, we are in talks with the Malawi Government for possible of funding Malawian projects. The Malawi Government has given us a number of projects for us to look at and source financing for them,” he explained.
On the other hand, Kambeja disclosed that he has invested an additional K120 million into tobacco production through his Hanan Holdings Limited.
The Minister of Trade Sosten Gwengwe said the government is committed to creating a favourable environment for foreign direct investments and initiatives aimed at actualizing the Southern African Development Community (SADC) regional economic integration.