BLANTYRE-(MaraviPost)-The country’s central bank, Reserve Bank of Malawi (RBM) has maintained policy rate at 26.0 percent.
This means commercial banks will maintain interest rates.
In press statement issued on Thursday, RBM governor, Dr MacDonald Mafuta Mwale, justifies the decision following reviews on recent economic development in the country.
Dr Mwale said Bank’s Monetary Policy Committee (MPC) met on 28 and 29 October, 2025, to review recent economic developments hence the decision.
The statement however says inflation rose from 28.0 to 28.1 percent in the third quarter, with inflation projection for the year revised from 28.5 to 28.9 percent, mainly due to increase in fuel pump prices.
However, the economy is expected to grow by 2.8 percent from 1.7 percent last year.
This comes as the country’s forex base is picking barely a month after tripartite elections.
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BLANTYRE-(MaraviPost)-Select Financial Services, one of Malawi’s lending institutions, has called for stronger collaboration between the government and the microfinance sector to sustain financial inclusion amid Malawi’s current economic challenges.
Founded in 2007, Select Financial Services provides credit and financial solutions to both public and private sector employees.
The company’s Chief Executive Officer (CEO), Akuzike Kafwamba said that despite inflationary pressures and currency fluctuations, the microfinance sector continues to play a vital role in helping Malawians build financial resilience, hence the need for collaboration.
“We have seen how access to affordable financial services can transform lives. Our focus remains on providing practical solutions that help individuals and businesses stay afloat, even in difficult economic times,” said Kafwamba.
Kafwamba said the institution’s 17 years of experience have deepened its understanding of Malawi’s financial realities, enabling it to serve clients often excluded by traditional banking systems.
“Our goal is not only to lend money but to empower people with financial knowledge and tools that promote stability and growth,” said Kafwamba.
He urged policy makers to establish frameworks that support innovation, reduce barriers to access, and promote collaboration between regulators and financial service providers.
“If we work together, government, private sector, and communities, we can build a more inclusive financial system that works for every Malawian,” added Kafwamba.
A finance expert and senior lecturer in accounting and finance at Millennium University, Richard Tembo commenting on the matter, stressed Select Finance Services’ call on the importance of collaboration between the government and microfinance institutions.
“The government provides policy direction and ensures financial stability, while microfinance institutions turn those policies into real financial access for people. Working together ensures support mechanisms like consumer protection, financial literacy programs, and responsible lending standards are well aligned.”
“During economic turbulence, timely access to small loans allows households to manage shocks, maintain consumption, and invest in small ventures. That’s where institutions like Select come in handy,” said Tembo.
Select Financial Services operates in all the four regions in Malawi and is part of the broader Select Africa Group, which offers microfinance products in multiple African countries including Lesotho, Eswatini, Kenya, Uganda, and Namibia.
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LILONGWE-(MaraviPost)—Standard Bank has announced the de-commissioning of the Unayo payments platform effective October 31, 2025.
While Unayo is also undergoing de-commissioning in other African countries, the Malawi decision becomes effective from October 31, 2025.
Between June 2025 to the effective date of de-commissioning, Standard Bank Plc has been undertaking a seamless transition and transfer of our customers from Unayo to other payments channels available under the 247 Digital Banking ecosystem.
Unayo was launched in Malawi in September 2021.
Said Head of Brand and Marketing Tamanda N’gombe; “Our immediate priority is to ensure a seamless transition for all affected clients, merchants, and partners. A comprehensive closure plan was designed to minimize any disruption, including providing clear communication, guidance on alternative solutions as well as required support.”
Ng’ombe said in arriving at its decision, Standard Bank Plc put weighty and comprehensive consideration into consultations with key stakeholders, review of their feedback and needs, and exploring alternative approaches and solutions to maintain seamless digital payment services.
“We would like to reassure all our stakeholders that this decision will not deter Standard Bank Malawi from exploring new and more innovative solutions that will continue to benefit communities, businesses and many others,” she said.
The Head of Brand and Marketing added that Standard Bank remains deeply committed to the success of this nation and will continue to be guided by our purpose, which is Driving Malawi’s Growth.
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BLANTYRE-(MaraviPost)-A fintech company, MoPay and agriculture manufacturing firm Thanthwe Farms emerged top winners of the 2025 Phuka micro, small and medium enterprises (MSME) awards sponsored by Standard Bank Plc.
The Phuka awards came amidst calls by Standard Bank Plc and government for small businesses to step up efforts in contributing to much-needed foreign currency by intensifying the export drive.
MoPay and Thanthwe Farms dominated the awards by winning in their respective categories of technology and manufacturing before capping the glittering awards night on Wednesday in Lilongwe as overall winners in the Best SME and Best Woman-led business of year, respectively. Each received a total of K9 million.
Leading calls for export intensification, Chief Executive Phillip Madinga said the MSME sector which accounts for 47 percent of GDP, has the potential to reverse years of foreign currency shortages in Malawi.
He estimated its export value at U$2 billion annually if each of the country’s 1.6 million MSMEs exported a minimum of U$100 worth of goods monthly.
“We can only hope to achieve this if we work collectively to harness the potential of small business. Our decision to partner SMEDI and government for these awards aligns with our track record of supporting MSMEs in economic recovery and growth efforts,” said Madinga.
He said entrepreneurship thrives on responding to challenges and solving complex economic and societal problems.
“Through these prestigious awards Standard Bank Plc would like to recognize and partner those MSMEs rising to the occasion in helping address Malawi’s economic problems through innovative approaches,” he added.
New Principal Secretary in the reconstituted Ministry of Industrialisation, Business, Trade and Tourism Wiskes Nkombezi hailed the partnership by Standard Bank and the Small and Medium Enteprises Development Institute (SMEDI) Corporation to recognise the MSME sector through the Phuka awards.
“SMEs represent the backbone of our economy. They play a crucial role in employment generation, providing jobs and opportunities within our communities which promotes inclusive growth and social cohesion,” said Nkombezi.
For his part SMEDI Acting CEO Otaniele Chezani said the awards represented the power of turning every dream into reality and in the transformation of the country’s economy.
“The power to transform Malawi does not only rest in the ivory tower boardrooms, but in the workshops, farms, and small factories of the every day dreamers who don’t give up,” said Chezani.
Other category winners of the 2025 Phuka awards are Feco Investments (Agribusiness), Adventures by Colby (Tourism), Yami Gemstones (Mining), EnviroSolutions (Green Business), and Milanzi Interiors (Furniture and Joinery).
Category finalists each received K2 million and a certificate of recognition.
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LILONGWE-(MaraviPost)-Former President Joyce Banda has called for stronger and more strategic investment in Malawi’s mining sector, describing it as a potential catalyst for the country’s economic transformation.
Speaking on Monday upon her arrival at Kamuzu International Airport in Lilongwe from Addis Ababa, Ethiopia, where she attended the TANA High-Level Forum on Peace and Security, Dr. Banda emphasized that Malawi must move decisively to protect and fully benefit from its mineral resources.
She noted that the global demand for Africa’s natural resources is intensifying, urging government and investors to ensure that the country’s mineral wealth particularly the rutile deposits in Kasiya, Salima District is properly managed for the benefit of Malawians.
“The world is scrambling for Africa’s resources, and Malawi must not be left behind. We need to safeguard our minerals and ensure they contribute to transforming our economy,” said Banda.
She highlighted that the continent currently faces more than 50 conflicts, many of which she said are fuelled by external interests that exploit divisions and corruption to destabilize African nations.
“The forum provided an opportunity for African leaders to reflect on homegrown solutions for peace and development,” said Banda.
The TANA Forum is a premier African platform that brings together heads of state, policymakers, and development partners to deliberate on pressing peace and security challenges affecting the continent, and to propose innovative, sustainable solutions.
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LILONGWE-(MaraviPost)-In a heartfelt demonstration of compassion and social responsibility, Diplomats Car Hire has donated MK5 million to Think Pink Malawi in support of the 2025 Breast Cancer Awareness Campaign.
The contribution reflects the company’s enduring commitment to empowering women and giving back to the community.
During the official cheque handover ceremony held in Lilongwe, Wezi Chiweta, representing Dr. Triephornia Mpinganjira, Managing Director of Diplomats Car Hire, reaffirmed the company’s dedication to supporting this vital cause, emphasizing that a healthy woman means a happy home and a healthy nation.”
The donation, she notes, is part of the company’s broader contribution toward building a stronger and healthier Malawi.
“Cancer affects more than just individuals — it paralyses families, workplaces, and entire communities. No woman should ever feel alone in this fight. Dr. Triephornia Mpinganjira therefore encourages women and girls in particular, and all people in general, to go for cancer screening. at The International Blantyre Cancer Centre in Blantyre , Nyambandwe. The International Blantyre Cancer Centre is one such institution that offers free annual cancer screening, amongst others.
Accepting the donation on behalf of Think Pink Malawi, Eleanor Nkosi, Co-Founder of the organization, expressed sincere gratitude for the company’s generosity.
“We are deeply grateful to Diplomats Car Hire for this significant and timely contribution. Their support will help us expand our reach — providing more women with vital breast cancer information, early detection services, and emotional support. Partnerships like this form the foundation of lasting impact,” said Nkosi.
She further emphasized that private sector engagement is crucial in advancing awareness efforts, particularly in rural communities where access to healthcare services remains limited.
Founded in 2014 by the late Blandina Khondowe, Think Pink Malawi continues to lead nationwide advocacy and awareness initiatives in the fight against breast cancer.
This year’s campaign, themed,“Think Pink, Walk Proud,” will feature a walk from the Parliament Buildings to the Bingu International Convention Centre (BICC) Gardens, followed by a Family Food Festival aimed at promoting health education and community unity.
Diplomats Car Hire, owned by Dr. Triephornia Thomson Mpinganjira, is one of Malawi’s leading vehicle rental companies — renowned for its professionalism, corporate social responsibility, and unwavering commitment to national development.
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