Persistent power outage and a tough operating environment characterised by run-way inflation and high interest rates will likely overshadow commemorations to mark one year since the establishment of the Buy Malawi Day.
On March 18, 2016, President Peter Mutharika launched the Buy Malawi Strategy in a bid to promote locally produced goods and services.
The strategy included a goal of setting aside March 18 to celebrate Malawi’s uniqueness through the consumption of locally produced goods and services.
At the time, Mutharika asked every Malawian to prioritise local products over imported goods and to be proud of the country’s heritage by supporting local industries.
However, unreliable electricity supply continues to raise concerns over the availability of Malawian products on the market as the power deficit has disrupted production processes of many industries. This coupled with high interest rates has seen some local industries either shutting down or scaling operations.
But the Malawi Confederation of Chambers of Commerce and Industry (MCCCI) which has been chosen to head the committee to oversee the implementation of the strategy has called for patience describing the process as multifaceted and requiring time to begin bearing fruits.
MCCCI President, Karl Chokhotho, said it was too early to lose confidence in the strategy as the committee to oversee its implementation has just been constituted.
“There are a lot of things that we need to do such as issues to do with capacity, policy, financing as well as engaging various sectors. It is a full package and the results will not happen overnight,” he said.
Concerns have been rife over an influx of foreign products on the market raising questions whether the country is still pushing forward its strategy to promote local products on the domestic market as well other markets outside Malawi.
The foreign products often offer cheap alternatives to products made in Malawi.
Analysts earlier faulted authorities for not giving much support to the initiative and failing to work on strategies to improve the business environment which is threatening the competitiveness of Malawian products.
Professor of Economics at Chancellor College, Ben Kalua, earlier said constraints prevailing in the Malawi economy have affected the effectiveness of the strategy and appeal of products made in Malawi.
According to Kalua, energy has now become a binding constraint affecting production processes which are key to availability of Malawian products on the domestic market.
And Board Chaiman of the Comesa Competition Commission, Mathews Chikankheni, earlier told us that the problem is that it is not clear who is championing the strategy.
He said the success of the strategy will be dependent on it being sustained to achieve long-term success.
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