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Arise IIP signs deal with Malawi to build R3bn SEZ, dry port

26th February 2024

By: Irma Venter

Creamer Media Senior Deputy Editor

     

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Arise Integrated Industrial Platforms (ARISE IIP) has signed a development agreement with the government of Malawi for the construction of a R3-billion special economic zone (SEZ) and dry port in the north of Lilongwe, Area 55.

Arise IIP is owned by Africa Finance Corporation, Afreximbank, and the Africa Transformation and Industrialisation Fund, and is a developer and operator of industrial ecosystems across the continent.

The development agreement, in line with Arise IIP’s ambition to unlock Africa’s industrial potential, will support Malawi in advancing the country's long-term vision of becoming “an inclusively wealthy and self-reliant industrialised upper-middle income country by 2063”.

The SEZ will aim to stimulate and attract multisector investments in the country, both industrial and commercial, and will offer logistics and inland container depot services to enterprises in Malawi.

It will seek to promote the local processing of raw materials into high value-added finished products, with an emphasis on agricultural products and inputs.

Arise IIP will oversee the majority of the project, holding a 65% stake, while the remaining 35% will be shared by the Malawian government and local investors.

Construction work is scheduled to begin this year, with the zone expected to become operational from 2026.

The project promises to create a minimum of 132 000 direct jobs and more than 26 000 indirect jobs.

“This collaboration with Arise IIP represents a significant opportunity to boost trade, investment and job creation in the country,” says Malawi Trade and Industry Minister Sosten Alfred Gwengwe.

“Given Arise IIP's proven success in developing major projects across Africa, we look forward to seeing the positive impact of our joint efforts.”

Arise IIP has initiated 12 integrated industrial zones in Africa. For example, in Benin, the group manages the Glo-Djigbé Industrial Zone dedicated to the local processing of agricultural raw materials such as cotton, cashew nuts, pineapples, shea nuts, soya, and so forth.

 

Edited by Creamer Media Reporter

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