Energizing Malawi’s Economy: Key Strategies for Sustainable Growth and Prosperity
Key Business Points
- The Economics Association of Malawi (Ecama) and Malawi Confederation of Chambers of Commerce and Industry (MCCCI) are urging the new government to prioritize food security, stabilize the exchange rate, and rebuild fiscal space to achieve macroeconomic stability.
- Policy consistency and predictability are crucial in restoring investor confidence and addressing structural challenges, according to Ecama president Bertha Bangara-Chikadza.
- The government needs to diversify exports beyond traditional commodities and add value to agricultural products to boost foreign exchange earnings and promote long-term growth.
The Economics Association of Malawi (Ecama) and Malawi Confederation of Chambers of Commerce and Industry (MCCCI) have advised the new Democratic Progressive Party (DPP) administration to take immediate action to stabilize the economy. With the recent formation of a new government and the announcement of a partial Cabinet, business leaders are eagerly awaiting policy decisions that will impact the investment climate. The MCCCI has already expressed concerns about the worsening business environment between July and September, which has weakened the local investment climate and affected foreign direct investment.
According to Ecama president Bertha Bangara-Chikadza, food security, exchange rate stability, and fiscal space rebuilding are essential to addressing the current economic challenges. She emphasizes that policy consistency will be critical in ensuring predictability for businesses and investors. Bangara-Chikadza, who also teaches economics at the University of Malawi, suggests that the government should diversify exports and add value to agricultural products to boost foreign exchange earnings.
MCCCI CEO Daisy Kambalame agrees that restoring macroeconomic stability requires a well-coordinated policy approach that targets fundamental factors such as runaway inflation and export diversification. She warns that without decisive reforms, Malawi risks backsliding into deeper instability. Kambalame believes that the new government’s ability to deliver both short-term stabilisation and long-term structural change will be critical to the country’s economic trajectory heading into 2026.
In the Chichewa language, this concept is often referred to as "kutengera nthaka", which means to stabilize or strengthen the economy. The Malawi Union of Micro, Small and Medium Enterprises president James Chiutsi also emphasizes the need for food price stability, which would stabilize inflation and interest rates and boost production. As President Peter Mutharika has already highlighted food security, fertiliser procurement, and stabilising fuel availability as key priorities in his inaugural speech, business owners and entrepreneurs are hoping for swift action to address the economic challenges facing the country.
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