The President of Malawi, Peter Mutharika, has lifted sanctions placed on oil and gas exploration exercise on Lake Malawi, Minister of Foreign Affairs revealed.

The president had in 2014 postponed oil and gas exploration on the lake due to claims that the granting of licences to foreign companies was suspiciously done. The lifting of the sanction, is to now grant oil and gas companies access to start searching for hydro-carbons.

According to the Minister of Foreign Affairs, George Chaponda, Georgia and Kazakhstan, are part of countries that have approached Malawi on oil and gas exploration. He said these these countries will provide their technical know-how and share their knowledge.

Some business and civic leaders in the country have seen the move as a welcomed development for the government to act with swiftness on the oil licensing decisions, Nyasa Times reports.

Anita Fatunji