Minister of Finance delivers a public lecture at MUBAS

News   MUBAS   May 17, 2023
PIC: Right: Hon. Minister Gwengwe
The Malawi University of Business and Applied Sciences (MUBAS) hosted a lecture by the Minister of Finance and Economic Affairs, Hon. Sosten Gwengwe, MP, on 9th May, 2023.

The lecture, titled “Leveraging on Digitalisation to Boost Domestic Revenue”, took place both physically in the School of Engineering Auditorium and virtually.   

At the beginning of his lecture, Hon. Gwengwe highlighted the need for Malawi to be a sovereign state. He advised that being a sovereign state starts with economic independence and that for Malawi to achieve sovereignty, there is need to enhance revenue collection so that Malawi can balance her budget. Gwengwe said:

“If we are going to claim sovereignty as a nation, first and foremost, we must finance our own budget.”

The Finance and Economic Affairs Minister categorically advocated for digitalization as a means of boosting domestic revenue collection. Hon. Gwengwe said:

“At the core of domestic revenue mobilization strategy is harnessing technology in tax and non-tax revenue collection. We cannot collect without digitalization.” 

Speaking earlier in welcoming the Minister, Executive Dean of the School of Business and Economic Sciences, Assoc. Professor Dr. Betchani Tcheleni, in a preamble, foreshadowed the Minister’s position on how Malawi can mobilize resources domestically by alluding to the importance of digitalization in supporting MW 2063 Agenda as he said:

“If we are going to talk about all the good things we talk about, all the good things in Vision 2063, we need resources, and perhaps, digitalization is the route,” said Tcheleni.

In welcoming the Honourable Minister in a special way, the Vice Chancellor of MUBAS, Assoc. Professor Dr. Nancy Chitera, hinted on her high anticipation of the transformative impact that the lecture would have on the audience as she said:

“The discussion will be one that will change us; that will move us to a certain direction as well as economic growth of our nation.”

Hon. Gwengwe took advantage of his presence at the University and toured the campus to appreciate some of the facilities and projects taking place at MUBAS, especially those that may facilitate the University’s agenda in support of Malawi’s vision. 

The Minister took a stop at MUBAS’s Design Studio, Mechanical Engineering Department, and Mining Engineering Department where he pledged to support some of the projects. 

The public lecture was attended by Deputy Governor of the Reserve Bank of Malawi, Mr. William Matambo; the Secretary to the Treasury, Dr. Mafuta Mwale; Chairperson of Budget and Finance Committee, Hon. Gladys Ganda; Chairperson of Public Accounts Committee, Hon. Mark Botomani; Commissioner General of the Malawi Revenue Authority, Mr. John Bizwick; students, Management and lecturers of MUBAS; and many more dignitaries from both the private and the public sectors.

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