June 30, 2025
The 417-hectare Magwero Industrial Park will cost US$200 million to construct and will have state-of-art infrastructure to host and support a wide range of functions across multi-industry value chains in manufacturing, packaging, research and innovation, logistics and storage, and dry port services before
His Excellency Dr. Lazarus McCarthy Chakwera says one of the best outcomes of his trip to the 32nd African Export-Import (AFREXIM) Bank in Nigeria is the firm assurance that construction of the 417-hectare Magwero Industrial Park will begin next month.
The President told the media upon arrival at Kamuzu Palace that Afrexim Bank has now finalized all technical and administrative processes which will now yield into construction works within weeks.
Located adjacent to Kamuzu International Airport, the US$200 million Magwero Industrial Park Project will have state-of-art infrastructure to host and support a wide range of functions across multi-industry value chains in manufacturing, packaging, research and innovation, logistics and storage, and dry port services before the commodities are exported.
It was conceptualised to foster economic development through industrialization and is being financed by Afrexim Bank and ARISE Integrated Industrial Platforms.
Upon completion, the facility will have substantial impacts on the country’s economy some of which include; US$685 million foreign direct investment in the next three to five years, creation of over 132,000 jobs, improved tax base and exports resulting in more forex, and stabilisation of the economy.
The Chakwera administration will soon start construction of similar facilities at Matindi and Chigumula in Blantyre, and Dunduzu in Mzuzu.
