United Transformation Movement (UTM) president Dr. Dalitso Kabambe has revealed plans to extract oil and gas from Lake Malawi using technology that he says will not harm the lake’s ecosystem, as part of efforts to boost the country’s economy through the mining sector.
Speaking during a whistle-stop rally at Thavite Trading Centre in Salima North on Thursday, Dr. Kabambe said Malawi, like resource-rich nations such as South Africa, Botswana and Dubai, can achieve prosperity by fully utilizing its natural resources.
“We need to think hard as a nation about what will turn Malawi’s development around. In my view, we must move quickly on oil and gas, which fetch high returns. We also need to focus on minerals as long as we add value through beneficiation,” he said.
Kabambe retaliated the party's plans to invest K500 billion annually in the mining sector, highlighting plans to commission more than 10 mining projects across the country within five years.
“I can guarantee you that when we form government after 16th September, we will rework the national budget to consistently allocate K500 billion to the mining sector, bring in experts, and ensure the projects are delivered on time,” he added.
Beyond mining, the former Reserve Bank Governor pledged to stabilize the economy, reduce prices of essential commodities such as sugar, cement, and fertilizer, while revealing plans to establish manufacturing companies to process farm produce like tomatoes and rice, creating jobs for young people.
Kabambe challenged Malawians to vote for UTM candidates from the President to members of parliament and councilors, if they want these promises delivered.
On Thursday, his whistle-stop tour started at Liwaladzi before proceeding to Nkhotakota Boma, Mkaika in Nkhotakota district and concluded at Thavite in Salima district where he told supporters that the September 16 polls present a chance for Malawi to “unlock its natural wealth and create lasting prosperity.”
He is among 17 candidates vying for the presidency.
