Malawi Business Leaders Demand Policy Certainty to Drive Capital Growth

Key Business Points

• Policy stability is essential for investor confidence, production growth and expanded tax bases.
• Reliable infrastructure—especially electricity and transport—must keep pace with reforms to attract financing.
• Coordinated government‑private sector action is needed to unlock Malawi’s mineral resources and generate jobs.

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Blantyre hosted a high‑level business breakfast yesterday, bringing together senior officials from government, Nico Holdings plc, Old Mutual Malawi Limited and Press Corporation plc to tackle Malawi’s investment challenges. The gathering, organized by the three corporate giants, highlighted a shared urgency: creating a predictable policy environment that encourages businesses to invest, produce and expand.

Press Corporation plc group chief executive officer Ronald Mangani stressed that policy stability, particularly in taxation and labour matters, underpins investor confidence. He warned that delayed resolution of labour disputes can produce awards that “do not make economic or commercial sense” and may discourage investment. Mangani added that a tax system should incentivise production rather than stifle it, noting that a broader tax base grows only when companies can keep producing while paying taxes.

Old Mutual Malawi chief executive officer Tavona Biza pointed out that policy consistency across ministries is equally vital. Investors need clear guidance when evaluating projects, he said, and conflicting directives from different ministries create uncertainty about which rule takes precedence. “You can find that there can be policy clashes between one ministry and another ministry and then you are not always clear which one precedes or supersedes the other,” he observed.

Vizenge Kumwenda, group managing director of Nico Holdings plc, linked policy stability to reliable infrastructure. He argued that without dependable power and transport networks, even well‑designed projects will struggle to attract financing. Kumwenda emphasized that well‑prepared and bankable projects are critical for unlocking capital, noting that investors look for certainty in both the rule‑making environment and the physical assets that support operations.

The dialogue unfolded against a backdrop of declining private sector investment. The Malawi Confederation of Chambers of Commerce and Industry warns that the downward trend is undermining productive expansion, job creation and overall economic growth. World Bank data from June 2026 shows gross investment fell to 11.1 percent of GDP in 2024, down from more than 20 percent recorded between 2017 and 2019.

Minister of Industrialisation, Business, Trade and Tourism Simon Itaye affirmed the government’s commitment to a conducive investment environment that delivers broader economic value. He stressed that successful investments should generate not only raw materials but also businesses, jobs, skills, infrastructure and industries. “If we get this right, a mining investment will not simply produce a mineral, but it will also produce businesses, jobs, skills, infrastructure and industries,” he said.

Minister of Mining Thoko Tembo added that unlocking Malawi’s mineral potential requires coordinated effort from all stakeholders. He called for a unified approach that aligns policy, infrastructure development and capacity building to ensure that mining benefits the wider economy.

Throughout the discussions, several Chichewa expressions resonated with local entrepreneurs: “Kusamalira ndi zipatso” (stable environment and benefits), “Kufufuza kwa zipatso” (search for investment opportunities) and “Kudzera mu negocio” (enter business). These phrases underscore the cultural importance of reliability and collective progress in Malawi’s business landscape.

The breakfast concluded with a clear message: stability, infrastructure and coordination are not optional—they are the foundation for restoring investor confidence, boosting private sector growth and positioning Malawi for sustainable economic development. Business leaders and policymakers now have a practical roadmap to act upon, offering Malawians new opportunities to expand enterprises, create employment and harness the country’s untapped mineral wealth.

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