Africa-Press – Malawi. Two years ago, Atupele Muluzi ignited a national conversation around the creation of a Sovereign Wealth Fund (SWF)—a bold idea outlined extensively in his “Business First” strategy. His argument was simple but compelling: Malawi must take control of its mineral wealth and reinvest it in the future of its people. Today, that vision is finally being embraced at the highest levels of government.
This week, government officials, civil society leaders, private sector players, and academics gathered in Lilongwe for a two-day workshop on mining revenue management, under the Open Government Partnership (OGP). The centerpiece of the discussions? The establishment of a Sovereign Wealth Fund.
Speaking at the event, Deputy Secretary to the President and Cabinet, Janet Banda, reaffirmed government’s commitment to setting up the fund, describing the workshop as “timely” and acknowledging the urgent need to build technical capacity in this area.
A statement released after the workshop confirmed that the SWF is now firmly on the government’s agenda, with a feasibility study already commissioned under the OGP National Action Plan (2023–25).
Reacting to the news, Atupele Muluzi welcomed the government’s move:
“I am pleased to see that the ideas we’ve long championed are beginning to take root. A Sovereign Wealth Fund is not just a policy instrument—it’s a promise to future generations that the wealth from our land will serve our people, not political interests,” said Muluzi.
His Business First strategy laid out a clear blueprint for responsible resource management, arguing that mining revenues—estimated to reach up to $600 million (about K1.05 trillion) annually by 2034—should be safeguarded in a professionally managed fund, free from political interference and aligned with Malawi 2063 (MW2063) development goals.
Participants at the workshop echoed Muluzi’s long-standing view that the fund must be transparent, rules-based, and shielded from political manipulation.
With several high-value mining projects on the horizon, Malawi is on the cusp of a minerals-driven transformation. The decision to pursue a Sovereign Wealth Fund could mark a turning point—not only in how the country manages its natural wealth but also in how it secures a more stable and prosperous economic future.
Muluzi’s early advocacy for the fund now looks increasingly prophetic—and Malawi may be all the better for it.
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