Malawi Eyes Three-Year US$55 Billion US Package For Africa

The 2nd US-Africa Leaders’ Summit has accorded Malawi an opportunity to break the trade and investment barriers and fully participate in Africa’s cooperation with the world’s largest economy.

In the various deliberations I have had with delegates to the summit, US President Joe Biden inclusive, it is becoming clear that Africa is now permanently positioned as a key investment destination.

In the short term, Malawi is poised to benefit from a three-year US$55 billion package committed by the US towards development projects and programs on the African continent.

We will also remain abreast in exploring opportunities that arrive with the newly-signed memorandum of understanding between Washington and the Africa Continental Free Trade Area (AfCTA) and Africa’s prospects of permanent membership in the Group of 20 economies (G20).

Malawi joined Africa in Washington DC to seek consensus on equitable development and mutual success with the US. I am glad we have established a refreshed stable foundation to unlock trade and investment opportunities for our economy.