Key Business Points
- Private sector leadership is crucial for Malawi’s prosperity, with a focus on championing justice, accountability, and governance to achieve the Malawi 2063 (MW2063) vision of inclusive wealth creation.
- Fiscal discipline, strong institutions, and transparent systems are essential for economic growth, and the private sector must play a key role in shaping the governance landscape through initiatives like the Malawi International Arbitration Centre (Miac).
- Government support and stability are necessary for a thriving private sector, with a need for fair regulation, infrastructure development, and honoring agreements to drive innovation, job creation, investment, and competitiveness.
The recent Economics Association of Malawi (Ecama) Annual Conference in Mangochi highlighted the importance of the private sector in driving Malawi’s economic growth and achieving the MW2063 vision. Private practice lawyer Patrick Mpaka emphasized that justice, accountability, and governance are essential for prosperity, and that the private sector must take the lead in championing these values. He also stressed the need for fiscal discipline, strong institutions, and transparent systems to support economic growth. The Malawi International Arbitration Centre (Miac), launched in March 2025, is a key initiative that will provide a private sector-led law enforcement arm to alleviate pressure on the judiciary and promote good governance.
Economic statistician Alick Nyasulu also presented at the conference, emphasizing the crucial role of the private sector in driving innovation, job creation, investment, and competitiveness. He urged the government to ensure stability, infrastructure, and fair regulation to support the private sector’s growth. Nyasulu also warned against abrupt policy reversals, retroactive tax changes, and failure to honour agreements, which can hinder economic progress. The conference theme, ‘Beyond the crises: Reshaping the economy’, reflected the need for Malawi’s business community to come together to address the country’s economic challenges and work towards a more prosperous future. As Mpaka noted, the private sector must "shape the governance landscape" to achieve MW2063, and initiatives like Miac are a step in the right direction. By working together, Malawi’s business community can drive growth, create jobs, and promote "tsogolo lathu lothumbikitsa" (a prosperous future) for all.
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