The newly inaugurated Finance and Corporate strategy Professor, James Kamwachale Khomba of the Polytechnic has urged Malawians to translate brilliant plans they have into action in order to turn around the country’s economic stand.
Professor Khomba, made the remarks on Friday during the 23rd University of Malawi Professorial inaugural lecture in Blantyre.
The lecture which uses Umunthu (humanness) model focuses on renaissance of the African Umunthu culture, wealth creation and corporate conscience.
These, according to professor Khomba, provide possible solutions to challenges faced by developing countries for instance Malawi.
Professor Khomba said it is disheartening to note that Malawians never put into action some developmental plans due to laziness and individualism.
“After the democratization of politics, Malawi lost many of its Umunthu socio-cultural values to the extent that they want to reap where they did not sow. Cashgate scandal is a typical example,” emphasized the first ever Finance and Corporate Strategy professor.
He said it is high time Malawians utilized the available resources and use entrepreneurial and innovative culture to build up the nation’s economy.
“Malawi is the richest country endowed with numerous resources; however it needs entrepreneurial and innovative culture to transform the resources we have into economic gains.
“We fought for and achieved our political independence over 50 years ago. We can also fight for and achieve our financial independence starting immediately,” he said.
He also advised that Malawi being a developing country, needs to move away from highly consumptive culture to investing culture.
On his part, Professor Frans Vermaak of University of Pretoria congratulated Professor Khomba’s research findings saying it will provide possible solutions to global and local challenges.
Vice chancellor of UNIMA professor John Saka described the research findings as no mean achievement
He added that the lecture has demonstrated the three core values of university thus professionalism, integrity and responsiveness.
Since 2004, University of Malawi has inaugurated eleven professors.
The theme of the lecture is “Turnaround Strategies for Creating a Sustainable Financial Independence for Malawi: Evolution or Revolution?”