Malawi’s Stock Market Soars: NBS Shares Ride 209% Wave
Key Business Points
- Invest in locally-listed companies, such as NBS Bank plc, which has seen a 209.9 percent increase in share price year-to-date, making it one of the top-performing counters on the Malawi Stock Exchange (MSE).
- Leveraging digital services and improving credit management can boost investor confidence, as seen in NBS Bank’s transformation.
- The MSE has experienced elevated demand from investors, leading to an upward push in prices, with many companies expected to declare interim dividends in the near future.
Malawi’s business community is witnessing a remarkable surge in the capital market, with several listed companies recording substantial gains. NBS Bank plc, in particular, has posted exceptional growth, with its share price rising to K539 per share as of June 17, up from K344 per share at the start of the year. This represents a 209.9 percent increase year-to-date, making NBS Bank one of the top-performing counters on the MSE in 2025. Within the past two weeks, NBS Bank share prices grew by 56.7 percent, a dramatic upward trajectory that has captivated investors.
The stock surge can be attributed to the bank’s strong operational and financial performance, with a 148 percent rise in profit-after-tax in the 2024 financial year, climbing from K29 billion in 2023 to a record K73 billion. Enhanced digital services, improved credit management, and strategic investments in core banking systems have underpinned NBS Bank’s transformation, boosting investor confidence.
Other counters on the MSE have also registered significant gains, with FDH Bank more than doubling its share price since January, rising from K148.22 to K314. FMB Capital Holdings has posted an impressive rally, with its stock appreciating from K555 to just over K1,000. Illovo Sugar, National Bank, Nico, and Old Mutual have also seen notable surges, while Standard Bank emerged as one of the top performers, registering a steep climb from K6,483.95 to K10,999.54.
MSE Chief Executive Officer John Kamanga attributes the market’s upward trend to elevated demand from investors, who are expecting a good performance from listed companies and seeking to benefit from interim dividends. Growing investor confidence, utilizing the market as a safe haven to hedge against inflation and exchange rate erosion, is also a contributing factor. Capital market analyst Kondwani Makwakwa notes that the current surge may be driven by positive sentiment around past performance and the belief that these companies will continue to perform well, given the current operating environment. As the MSE approaches the half-year reporting period, investors are likely to continue favoring companies with strong track records and growth prospects, presenting opportunities for local entrepreneurs and businesses to tap into the rising market.
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