MCP UK Wing leader welcomes Mlusu’s budget “Diaspora Development Bond”
The Chairperson of Malawi Congress Party Diaspora UK Wing Nelson Ngulube has welcomed the inclusion of proposals for Diaspora development fund in the budget that was delivered by finance Minister Felix Mlusu today. The Diaspora development fund will aim at empowering the diaspora community to make various investments in Malawi.
Speaking to Maravi Post, Ngulube said it was an honour that the diaspora community has been thought of in the budget in the first place as it highlights that the diaspora is now recognized as another productive community for aiding Malawi development.
“We thank the government, that it has shown its seriousness in wanting to work with Malawians living in diaspora. We have been saying in the past that the diaspora is beyond just remittances – we have abundant of skilled people and investors that when properly utilised will aid in the job creation, which is one of the government keys areas said Ngulube
Speaking when delivering the budget, Hon Mlusu said “My ministry in collaboration with Reserve bank of Malawi is working on modalities towards the issuance of a diaspora development bond. He said this will be one way of encouraging Malawians in the diaspora to invest in the country
Mlusu went further to announce that the reserve bank has created an Information portal and in collaboration with the Ministry of Foreign Affairs is profiling the diaspora communities as part of information gathering.
In his remarks Ngulube said the MCP diaspora will do whatever it can to help government establish further strong relationship with people in the diaspora ”We are setting a new beginning , a few years ago , government did release the diaspora engagement policy which despite promising much delivered little , however the Tonse government will leave no stone unturned as it Is an inclusive government that is willing to listen to the voice of the diaspora”
In his budget statement Finance Minister Mlusu assured the house that the proposed initiative has been tried in several other countries and has so far proved a success. Ethiopia which has made a success of the same initiative has seen diaspora projects that has had positive impact in health, education, water and sanitation facilities, agricultural development, technology, small scale entrepreneurship and other income and employment generating projects
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