Renowned entrepreneur Anthony Mukumbwa has revealed ambitious plans to construct a state-of-the-art hotel in Mzuzu City.
Mukumbwa said the hotel will be called Rayoni International Convention Centre.
He said construction works will roll out in January 2026, with an initial capital of $2.7 million already raised.
“Malawians should know that this project is happening and they should know that for the first time ever, Mzuzu City will have a modern convention centre,” he said.
The $14 million project will also introduce a modernised property ownership structure where individuals will be given an opportunity to legally own certain sections within the hotel.
Malawians who will purchase space in the hotel will earn 20 percent in dividends regardless of whether the facility makes profit or not.
“We are going to use sectional Titles Act of 2024 which gives power to individuals or firms to purchase or own distinct sections of a building,” said Mukumbwa.
The entrepreneur has since launched the project at a function which was held on Wednesday in Mzuzu City.
National Bank of Malawi service manager responsible for Mzuzu City, Sam Mzungu commended Mukumbwa for coming up with the initiative, describing it as a step in the right direction.
“What Mr Mukumbwa is doing here is great and in line with the country’s development aspirations of agenda 2063,” Mzungu said.
The development follows an announcement made last month by Mukumbwa that his company, Rayoni Holdings Limited has signed dry lease agreements for four Airbus Aircraft with its partners from United Arab Emirates and Ireland.
