Standard Bank Malawi says the next five years are critical for developing the skills that will allow Malawi\u2019s youth to meaningfully add to the dynamism of a growing agricultural, services and manufacturing economy.<\/p>\n
The bank\u2019s Chief Executive Officer Andrew Mashanda has said however that if youth are not sufficiently engaged within the next decade, the demographic dividend might become a burden to the country.<\/p>\n
Mashanda said a growth rate of between eight to 10 percent would be ideal to achieve this.<\/p>\n
\u201cMalawi\u2019s vast agricultural beneficiation and supply chain development potential is being supported by the rehabilitation of the country\u2019s two hydro-power stations, the management of siltation in the Shire River system that powers these stations, and the maintenance and expansion of the country\u2019s distribution grid,\u201d he said.<\/p>\n
Mashanda added that combined with one of the youngest populations in Africa, this presents an opportunity for Malawi to develop a globally competitive export-led economy.<\/p>\n
\u201cThis can be achieved through mass youth employment in coordinated, high tech and globally competitive agricultural production.<\/p>\n
\u201cBut Implementation is key to reaching and sustaining the kind of accelerated growth levels that would turn Malawi\u2019s youth into a development asset,\u201d he said.<\/p>\n
Mashanda further noted that Malawi is surrounded by three of East Africa\u2019s fastest growing economies; Tanzania, Mozambique and Zambia, all with rapidly growing middle classes.<\/p>\n
\u201cThis bodes well for the development of Malawi\u2019s agricultural sector while also presenting potential as a services, logistics and transport hub once enabling legislation is in place, government efficiencies are improved, and market-oriented skills and infrastructure developed.<\/p>\n
\u201cTourism, mining, services and industrial production, servicing the needs of a large domestic and much larger regional market, all presented opportunities for youth in a growing economy,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Standard Bank Malawi says the next five years are critical for developing the skills that will allow Malawi\u2019s youth to meaningfully add to the dynamism of a growing agricultural, services and manufacturing economy. The bank\u2019s Chief Executive Officer Andrew Mashanda has said however that if youth are not sufficiently engaged within the next decade, the […]<\/p>\n","protected":false},"author":3,"featured_media":45045,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-45086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/45086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=45086"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/45086\/revisions"}],"predecessor-version":[{"id":45090,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/45086\/revisions\/45090"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/45045"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=45086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=45086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=45086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}