Malawi Stock Exchange Rings in 2026 with Record Growth, Fueling Business Momentum
Key Business Points
- Market capitalisation on the Malawi Stock Exchange (MSE) surged by 247 percent to K32.56 trillion on the first trading day of 2026, compared to K9.38 trillion in 2025, presenting opportunities for local investors to grow their wealth.
- Daily turnover increased more than 80-fold to K711.67 billion, indicating heightened market activity and interest in listed companies, with the number of deals jumping to 1,713 from 49.
- The Malawi All Share Index more than tripled to 598,062.80 points, signifying a significant boost in investor confidence and a positive outlook for the market, with the Domestic Share Index rising to 405,749.03 points and the Foreign Share Index increasing to 158,350.47 points.
The Malawi Stock Exchange (MSE) commenced trading in 2026 with a remarkable performance, marked by substantial increases in market capitalisation and turnover. This surge in activity is a positive indicator for Malawi’s business sector, suggesting growing interest in the stock market as an investment avenue. The zokonda za mawonekedwe, or stock market performance, has been improving, with the MSE experiencing significant growth in recent years. As MSE chief operating officer Keline Kondowe noted, awareness of the Stock Exchange has increased, laying a strong foundation for future growth.
The kuchita malipo, or dividend yield, rose to 7.26 percent, while the price-to-earnings ratio increased to 40.95, indicating a favorable environment for investors. The weighted average price-to-book value ratio also rose to 14.10, suggesting a positive outlook for the market. On the first trading day of 2026, six counters recorded gains, led by Nico Holdings, while six counters recorded losses, with FMB Capital Holdings and Airtel Malawi being among them.
Telekom Networks Malawi (TNM) dominated trading, recording the highest volume at 10.86 million shares traded, compared to 168,728 shares on the first trading day of 2025. FDH Bank followed, with 349,533 shares traded, compared to 1.09 million shares a year earlier. Counter prices showed broad appreciation, with TNM closing at K31.47, up from K25.00 a year earlier, and FDH Bank rising to K599.92 from K148.22.
The National Bank of Malawi recorded the highest price gain, closing at K11,995.00 compared to K3,462.17 on the opening day of 2025. NBS Bank increased to K913.78 from K174.00, while NICO Holdings rose to K1,737.88 from K419.02. As the MSE continues to grow, it is likely to attract more investors, both local and foreign, providing opportunities for businesses to raise capital and drive economic growth. With the kugulitsa malonda, or stock market, gaining momentum, Malawian entrepreneurs and investors should consider exploring opportunities in the MSE to grow their businesses and wealth.
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