By Burnett Munthali
Minister of Mining Ken Zikhale Ng’oma has emphasized the critical role of Malawi’s mining sector in driving economic stability and growth, urging both government and private sector players to invest in the industry’s development. Speaking at the Bingu International Convention Centre (BICC) in Lilongwe, where the World Bank launched the 20th edition of the Malawi Economic Monitor, Ng’oma highlighted the vast potential of the country’s mineral resources in boosting revenue and fostering sustainable development.
“The presence of substantial deposits of rutile, graphite, and other rare earth minerals presents an opportunity for the government to generate revenue through taxation,” Ng’oma said. He noted that with proper investment and regulatory support, mining could become a major contributor to Malawi’s economy, reducing reliance on traditional sectors such as agriculture.
However, the minister acknowledged that significant challenges remain in unlocking the full potential of the mining sector. He pointed out that inadequate infrastructure, weak regulatory frameworks, and a lack of modern mining technologies have slowed progress in the industry. “Critical infrastructure and regulatory frameworks must be developed to support the sector’s growth,” he stressed.
Ng’oma called for stronger collaboration between the government and private investors to address these gaps. He encouraged the private sector to play an active role in developing Malawi’s mineral wealth, noting that strategic partnerships would be key in ensuring long-term success. “By working together, we can unlock the mining sector’s potential, drive economic transformation, and ensure that its benefits are equitably shared among all Malawians,” he said.
The launch of the Malawi Economic Monitor provided a platform for government officials, economists, and industry stakeholders to discuss strategies for strengthening the country’s economic position. Mining was identified as a priority sector, with discussions focusing on the need for policy reforms, investment in infrastructure, and improved governance to attract investors.
Ng’oma reaffirmed the government’s commitment to creating a conducive environment for mining investments. He highlighted ongoing efforts to review the legal and policy frameworks governing the sector, ensuring that they align with global best practices. Additionally, he pointed out that efforts are underway to improve transparency in mining contracts and revenue management to maximize benefits for the nation.
As Malawi looks to diversify its economy, the mining sector is expected to play an increasingly vital role in shaping the country’s financial future. With the right investments and policy interventions, stakeholders believe the industry could emerge as a cornerstone of economic growth, creating jobs, increasing exports, and contributing significantly to national development.
The coming years will be crucial in determining whether Malawi can successfully harness its mineral resources for sustainable economic progress. The government’s ability to implement necessary reforms and attract long-term investors will ultimately define the success of the sector and its contribution to the country’s economic stability.
