Your Excellency, The State President of the Republic of Malawi;
Dr.Bingu wa Mutharika, our visionary leader and premier Economist for Malawi,

• Minister of Finance, Honourable Goodall Gondwe, MP,

• Mr Bright Msaka, Chief Secretary in the Office of the President & Cabinet,

• Distinguished DDP Party Officials,

• All Protocols Observed.

• Ladies and Gentlemen.

Today marks an important milestone on the Malawi Nation’s economic roadmap.  Accordingly,  I would like to thank you, Your Excellency, for kindly agreeing to grace this important occasion of laying the foundation stone for the construction of the Reserve Bank of Malawi Mzuzu Branch with Your Excellency’s presence.

Your Excellency, Distinguished Ladies and Gentlemen, please allow me to briefly give a background to a stable monetary and financial system and a safe, flexible and robust payments infrastructure. To better serve the country’s economic needs, the Mzuzu Branch Project. The Reserve Bank of Malawi was established in 1965 to provide the nation with the Reserve Bank of Malawi Head Office was moved from Blantyre to the Capital City, Lilongwe, in 1981. In 1998, the Blantyre Branch was moved from Victoria Avenue to a new magnificent building at the corner of Henderson Avenue and Hannover Street within the same city.

Your Excellency, the Reserve Bank  of Malawi currently rents sub chests owned by National Bank of Malawi and Standard Bank to store and meet currency requirements of the Northern Region. In the past few years this arrangement has not only become inadequate but the frequent trips between Lilongwe and Mzuzu to replenish currency stocks pose serious operational  challenges and security risks. 

In the 43 years since the establishment of the Reserve Bank of Malawi, the Northern Region’s economic significance has increased tremendously. As the City of Mzuzu and the Northern Region have grown both in size and economic importance so have their banking and currency needs and requirements.

Your Excellency, Distinguished Ladies and Gentlemen, allow me to comment on the Project and developments that have taken place so far. The Reserve Bank of Malawi plans to build a decent central bank structure that will meet developmental challenges and aspirations of the Malawi Government. While the building will emphasize the mandate of the central bank in the Northern Region, its outlook should make it approachable and enhance the beauty of the Mzuzu landscape.

The Project consists of a five storey main building and a security wall fence, among others. The main building will contain all core facilities, including management and staff offices and equipment necessary for full operations of a central bank branch.

The Project will be in two phases. The first phase which has since started, involves the construction on the foundation structure and all associated civil works.  Construction of phase one of the Project is being undertaken by PLEM Construction and City Building Joint Venture  following a competitive tender process.  The second phase is expected to commence around October, 2008 and will involve the construction of the superstructure and all associated finishes, fittings and landscaping.

The Project is expected to take three years and is estimated to cost K4.7 billion, inclusive of all taxes.

Your Excellency, the contract for the design and supervision of construction of the Mzuzu Branch was awarded to the Norman and Dawbarn Consortium following a competitive tender process.  I am very pleased to inform you, Your Excellency, that the Norman and Dawbarn Consortium comprises seven Malawian consulting firms, namely:

(a) Architects:   Norman & Dawbarn and DDC
    Designs

(b) Quantity Surveyors:   Fitzwilliam Partnership

(c) Civil/Structural Engineer: RD Consultants

(d) Electrical Engineers: M & E Associates Ltd

     (e) Mechanical Engineer:  Prime Engineering

     (f) Landscape Architect:        YE Kambewankako Associates
 

• Your Excellency, The State President of the Republic of Malawi;

Dr.Bingu wa Mutharika, our visionary leader and premier Economist for Malawi,

• Minister of Finance, Honourable Goodall Gondwe, MP,

• Mr Bright Msaka, Chief Secretary in the Office of the President & Cabinet,

• Distinguished DDP Party Officials,

• All Protocols Observed.

• Ladies and Gentlemen.

Today marks an important milestone on the Malawi Nation’s economic roadmap.  Accordingly,  I would like to thank you, Your Excellency, for kindly agreeing to grace this important occasion of laying the foundation stone for the construction of the Reserve Bank of Malawi Mzuzu Branch with Your Excellency’s presence.

Your Excellency, Distinguished Ladies and Gentlemen, please allow me to briefly give a background to a stable monetary and financial system and a safe, flexible and robust payments infrastructure. To better serve the country’s economic needs, the Mzuzu Branch Project. The Reserve Bank of Malawi was established in 1965 to provide the nation with the Reserve Bank of Malawi Head Office was moved from Blantyre to the Capital City, Lilongwe, in 1981. In 1998, the Blantyre Branch was moved from Victoria Avenue to a new magnificent building at the corner of Henderson Avenue and Hannover Street within the same city.

Your Excellency, the Reserve Bank  of Malawi currently rents sub chests owned by National Bank of Malawi and Standard Bank to store and meet currency requirements of the Northern Region. In the past few years this arrangement has not only become inadequate but the frequent trips between Lilongwe and Mzuzu to replenish currency stocks pose serious operational  challenges and security risks. 

In the 43 years since the establishment of the Reserve Bank of Malawi, the Northern Region’s economic significance has increased tremendously. As the City of Mzuzu and the Northern Region have grown both in size and economic importance so have their banking and currency needs and requirements.

Your Excellency, Distinguished Ladies and Gentlemen, allow me to comment on the Project and developments that have taken place so far. The Reserve Bank of Malawi plans to build a decent central bank structure that will meet developmental challenges and aspirations of the Malawi Government. While the building will emphasize the mandate of the central bank in the Northern Region, its outlook should make it approachable and enhance the beauty of the Mzuzu landscape.

The Project consists of a five storey main building and a security wall fence, among others. The main building will contain all core facilities, including management and staff offices and equipment necessary for full operations of a central bank branch.

The Project will be in two phases. The first phase which has since started, involves the construction on the foundation structure and all associated civil works.  Construction of phase one of the Project is being undertaken by PLEM Construction and City Building Joint Venture  following a competitive tender process.  The second phase is expected to commence around October, 2008 and will involve the construction of the superstructure and all associated finishes, fittings and landscaping.

The Project is expected to take three years and is estimated to cost K4.7 billion, inclusive of all taxes.

Your Excellency, the contract for the design and supervision of construction of the Mzuzu Branch was awarded to the Norman and Dawbarn Consortium following a competitive tender process.  I am very pleased to inform you, Your Excellency, that the Norman and Dawbarn Consortium comprises seven Malawian consulting firms, namely:

 (a) Architects:   Norman & Dawbarn and DDC
    Designs

(b) Quantity Surveyors:   Fitzwilliam Partnership

(c) Civil/Structural Engineer: RD Consultants

(d) Electrical Engineers: M & E Associates Ltd

(e) Mechanical Engineer:  Prime Engineering

 (f) Landscape Architect:        YE Kambewankako Associates 

May I request representatives of the Norman and Dawbarn Consortium to stand up where ever they are so that His Excellency and the people gathered here may see them.  Your Excellency, the people in this Consortium are true sons of Malawi who have trained and qualified abroad but have chosen to return home and participate in building the infrastructure needed by this country for its economic development.

Your Excellency, Distinguished Ladies and Gentlemen, as we gather today to celebrate the laying of the foundation stone, I would like to publicly appreciate the role played by many dedicated individuals and organisations on this Project. First, I would like to thank the current and former Board of Directors of the Reserve Bank of Malawi for their support and policy guidance on this Project.

I would also like to commend the Ministry of Lands, Housing and Surveys and Regional Commissioner for Lands (North); the Norman & Dawbarn Consortium; Management and staff of the Mzuzu City Assembly; PLEM Construction and City Building Joint Venture; and, the Reserve Bank Project Team.  To these individuals and organisations, I would like to appreciate their dedication, commitment and support for the successful execution of the Project so far.

Lastly, on behalf of the Board, Management and staff of the Reserve Bank of Malawi, I wish to register our deep sense of gratitude and appreciation to you, Your Excellency, and Government for approving and supporting this Project.

This Project truly reflects Your Excellency’s vision to build a stronger economic infrastructure for Malawi and improve economic growth and development and also bring prosperity to all Malawians.

Your Excellency, Distinguished Ladies and Gentlemen I thank you all for your attention.

THANK YOU, YOUR EXCELLENCY.