The Government is pursuing the acquisition of new vessels to replace the ageing MV Ilala as part of efforts to modernise water transport on Lake Malawi and reduce the cost of doing business.
Minister of Transport and Public Works, Hon. Jappie Mhango, M.P., disclosed this in Parliament, saying Government is currently engaging the National Bank of Malawi and other prospective investors to finance the procurement of modern vessels.
The Minister noted that MV Ilala, which has been operating on Lake Malawi since 1951, has served the nation for 75 years and has outlived its operational lifespan. He said replacing the vessel is a priority under Government's broader strategy to modernise the country's water transport system.
Mhango revealed that the National Bank of Malawi has expressed its willingness to support the acquisition of two new vessels, while discussions are also underway with other investors interested in investing in Malawi's water transport sector.
He further emphasised that increasing the use of rail and water transport for cargo movement will lower transportation costs, reduce pressure on the road network, and enhance the efficiency and sustainability of the country's logistics system.