Govt urges banks to boost investment in tourism infrastructure

Government through  Minister of Tourism  has called on the financial sector to take a leading role in supporting tourism related infrastructure projects, citing the importance of the Tourism Investment Masterplan in enhancing the sector’s growth.

Speaking in Lilongwe at a ceremony marking National Bank’s donation of 50 million kwacha towards the upcoming tourism expo, Minister  of Tourism  Vera Kamtukule stressed the urgent need to improve roads leading to major tourist destinations such as Nyika and Mangochi.

She proposed that banks consider funding such developments and recovering investments through tollgate fees. The Minister confirmed that preparations for this year’s Tourism Expo, scheduled to start on Thursday in the capital, are complete.

The event is expected to host international tourism agents who will assess Malawi’s tourism potential, while stakeholders engage in sector driven discussions.

National Bank Regional Manager Shadreck Malenga expressed the bank’s commitment to tourism, recognizing its potential as a key economic pillar. He said the institution felt compelled to support the expo and is keen on further contributing to the development of the tourism industry.