Former Reserve Bank of Malawi Governor Dalitso Kabambe has urged the country to adopt a new development approach, emphasizing industrialization as key to achieving sustainable growth.
Speaking at a public lecture at the Catholic University of Malawi, Kabambe noted that Malawi’s economy has stagnated, with only 4% growth over the past 60 years.
He stressed the need for a “paradigm shift” in development strategy to drive industrialization.
Kabambe praised the university for the opportunity to engage with students and faculty, expressing gratitude for their warm welcome and thoughtful questions.
He emphasized the importance of bright minds managing district councils, not just focusing on Capital Hill, to resuscitate the economy.
The lecture was part of the Catholic University’s public lecture series, and Kabambe’s remarks built on his previous call for a shift in Malawi’s development framework.
As the country approaches its fifth decade, Kabambe believes industrialization is crucial for achieving sustainable development and realizing Malawi’s full potential.
Kabambe’s economic expertise was evident during his tenure at the Reserve Bank, where he reduced inflation and stabilized the exchange rate.
His vision for Malawi’s industrialization and sustainable growth resonated with the audience, inspiring hope for a brighter economic future.
