The Likoma Port Project, valued at 10 billion kwacha, has missed its deadline for the fourth time since its launch on May 29, 2019.
Initially expected to be completed within 36 months, the project remains stalled, with construction halted mid-last year.
Minister of Transport and Public Works Jacob Hara attributed the delay to price escalations of goods and services, citing the Kwacha's value realignment as a major factor.
Hara stated that negotiations with contractors and suppliers are ongoing, and the project's resumption hinges on the outcome of these discussions.
Additionally, Ports Director Joseph Sheketeni Banda noted that rising water levels in Lake Malawi also contributed to the delay.
This necessitated the hiring of South African diving experts to handle underwater construction.
The prolonged delay has left ship users reliant on small boats and manual labor for embarkation and disembarkation.
Senior Traditional Authority Mkumpha 3 expressed gratitude for the government's initiative, hoping the project's completion will reduce accidents and deaths.
The government has promised to introduce new water vessels to boost the local economy, investment, and tourism.
While the project's future remains uncertain, the potential benefits to the region's development and safety are significant.
CDH Investment Bank has reported strong interim results for the first half of the year ending 30 June, 2024, posting K8.3 billion profit after tax — a 53 percent increase from the K5.5 billion reported in the same period last year. The unaudited results published in a statement have been endorsed by the bank’s board and executive.
There was Jubilation at desert ground in Bangwe township in Blantyre when Coca-cola Beverages Malawi Limited was re-launching 'Iwe Umati initiative' aimed at giving back to the community.
The Roads Authority (RA) says a tendering process is underway to identify contractors and ascertain the final costs for works to reinstate bridges which were damaged by Cyclone Freddy last year.