The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has reaffirmed its commitment to support the long-delayed Mpatamanga Hydropower Project, giving fresh hope for a more stable electricity supply in Malawi.
The announcement was made during a bilateral meeting in Washington, D.C. between Malawi’s Minister of Finance, Economic Planning and Development, Joseph Mwanamvekha, and IFC Vice President for Africa, Ethiopis Tafara, following the conclusion of the IMF and World Bank Annual Meetings yesterday.
The Mpatamanga Hydropower Project, located along the Shire River, is expected to generate over 300 megawatts of electricity.
Minister Mwanamvekha welcomed the IFC’s renewed backing, saying the project’s implementation could transform the economy.
“Reliable energy is essential for production, healthcare, and job creation. We want to see Mpatamanga move forward without delay,” he said.
IFC Vice President Tafara assured Malawi that the financing process for Mpatamanga is advancing well.
“We are on track to reach financial close soon. IFC remains committed to working with Malawi to deliver this transformative project,” he said.
Across the country, the news has been received with optimism.
Mary Phiri, a bakery owner in Blantyre, said constant blackouts have affected her business.
“Sometimes we throw away spoiled dough because power goes out mid-baking. We just need reliable electricity to grow,” she said.
Alinafe Chibisa, an electronics repairman in Lilongwe, added:
“This is the kind of progress we have been waiting for. Generators are expensive. We want stable power.”
The government and IFC are now working to complete the remaining legal and technical steps before construction begins.
Once finalized, the Mpatamanga project is expected to create thousands of jobs and strengthen Malawi’s industrial base.
