The Reserve Bank of Malawi (RBM)&rsquo;s Monetary Policy Committee (MPC)maintained the policy rate at 14 percent. The central bank indicated that the move was aimed at arresting runaway inflation, which by then was at 19.1 percent, from 15.7 percent in the preceding month.

Reserve Bank of Malawi (RBM) revised upwards the policy rate to 14 percent in May this year from 12 percent

Enact interest cap legislation to limit interest rates charged by commercial banks at no more than 5% above the Reserve Bank of Malawi (RBM) Base Lending Rates

The Malawi government together with the Directorate for &nbsp;Rural Development will be extending the Transforming Agriculture Diversification Entrepreneurship program (TRADE) to four new districts namely Mzimba, Chikwawa, Phalombe, Ntcheu and Dowa with the aim of alligning with the nations vision of &nbsp;Agriculture Commercialization and Productivity. Three interconnected components work together to implement the program: they support investments in the enabling environment, foster connections between smallholder farmers and commodity actors, and strengthen institutional development to improve knowledge management, local government authorities' capacity building, and program management.

'Government expands TRADE program

Encourage value chain addition and agroprocessing to imrpove gross margins for farmers

Minister of Transport and Public Works has told parliament the Public Procurement and Disposal of Assets Authority (PPDA) has approved K315 billion devaluation-induced price adjustments for stalled road projects. And the approval of these contracts will see project resumption and see an implementation of the transport master plan

PPDA approves K315bn revised road contracts

Implement and fund the Transport Master Plan

Government Introduced the Solar Home Systems component of MEAP which has diversified the power generation in Malawi&nbsp;

Government installs Solar Systems for residents

Diversify energy sources

Using the Malawi Electricity Access Project (MEAP), government has been able to connect 58,000 households to the grid.

Goverment enhances access to power in households

Increase access to electricity to 60% within the next five years

In the 2023/2024 financial year, NEEF alone disbursed a total of 34.7 billion Kwacha in loans to 107,505 MSMEs, while 51 billion Kwacha has been disbursed to 43,887 MSMEs through the FInES project

Funds availed for women and youth projects for empowerment

Set up a bank foused on giving credit to youth and women to enhance their participation in the country's economy

Government has established the Malawi Development Corporation Holding Limited (MDCHL) to spearhead investment in strategic sectors of the economy, because we want the resources of Malawians to be used for production and development that yield exponential returns.

Malawi Development Corporation Holding Limited spearhead state investments

Create a favourable environment for the private sector to facilitate investments and growth of a robust economy to benefit Malawians

Government has increased the number of airlines traveling to Malawi and are in the process of designing a Malawi Flight Plan for increased air access, but we have also concluded three Bilateral Air Service Agreements with Mozambique, Uganda, and Kuwait to introduce direct flights into Malawi, while talks with the Democratic Republic of Congo, Mauritius, and Nigeria to do the same are in progress.

Ministry works to boost airtravel into Malawi on track

Improve infrastructure network to grant tourists access to facilities

The government has been offering incentives for the development of special packages for Malawians to boost local tourism as part of efforts to implement the Domestic Tourism Marketing Strategy.

Government offers incentives to stimulate tourism.

Promote a wide range of incentives over and above the existing tax incentives to promote tourism in the country

Government has &nbsp;trained 134 Artisanal Small-scale Miners members across various regions on mineral tenement, acquisition, and cooperative management. Additionally, 296 Artisanal Small-scale Miners participants from 12 mining groups have also undergone training on Safety, Health, and Sustainable Mining Practices

Ministry of mines pushes to promote artisanal and small scall miners

Implement the Artisanal and Small-scale Mining (ASM) policy

Government has repealed the Mines and Minerals Act and replaced it with a new one so that the law protects the interests of Malawians in all mining activities.

Government repeals Mines and  Minerals Act

Develop the mining's local content policy to ensure Malawians benefit from mining investments

Government has completed works at Shire Valley Transformation Program with the first 6 km of the main Canal having been completed including the Coffer dam to increase irrigable land in Malawi.

'Works at Shire Valley irrigation project complete

Raise the irrigable hectarage to over 50% within the next five years

Government through diplomatic efforts has secured new markets for Malawian products including a market in the United Kingdom for &nbsp;coffee, soybeans and groundnuts in China, sesame and guan seeds in India

New markets secured for Malawian products

Facilitate market expansions for agricultural products by creating pathways to new markets and enhaning relationships with current trade partners

&nbsp;Malawi Communications Regulatory Authority has signed a Memorandum of Understanding (MoU) with the African Smart Cities Innovation Foundation which will begin works to develop the urban city

Mvera city project commences in July

Ensure more coordinated planning and development of urban areas to ensure all developments meet set minimum standards

According to a statement released by ministry of Foreign Affairs, the president will travel to Kinshasa to hold bilateral talks with DRC president-elect Felix Tshisekedi Tshilombo on the sidelines of his inauguration on 20th January.

President Chakwera resumes foreign trips.

Implement policies to keep inflation levels down to single digit values

Government through the Ministry of Agriculture reopened ADMARC after having closed the entire parastatal in 2022 to pave way for a restructuring process.

Admarc fully operational, hires 1300 new employees

Revitalise the Agricultural Development and Marketing Corporation (ADMARC)

Malawi Revenue Authority developed a taxing policy where they identify and group tax payers in a geographical location &nbsp;in a such a way that they can be assigned officials to manage all taxpayers within their given zone or block. This has allowed them to raise over K40bn in revenue

'New Malawi taxing policy developed

Develop a comprehensive tax policy

Malawi Innovation Hub trained youths with entrepreneurial skills and awarded grants in Nkhotakota District to start their businesses. mHub in partnership with the Nkhotakota district also held a 2 day job and opportunity fair where the district commissioner argued that this initiative gave youths an opportunity to improve their skills in business plan development

Malawi Innovation Hub empowers youths in Nkhotakota

Promote the development of Small and Medium Enterprises (SMEs) and Cooperatives

the Ministry of Tourism launched a 'Visit Malawi' branded taxi that operates in London in a bid to promote Malawi as a tourist destination.&nbsp;

Visit Malawi' taxi launched in london

Organise regular tourism promotion events

Malawi signed two agreements with the African Export-Import Bank (Afreximbank) for the promotion and development of export diversification projects in the country, including mega farms. The second deal involves funding for the provision of advisory services for the development of two mega farms and in it there is a third component which is establishment of export trading companies.

Malawi signs two agreements with African Export-Import Bank

Strengthen agro-value chains to improve access to finance and markets for farmers

Malawi Government in partnership with Standard Bank of Malawi &nbsp;signed a K34.5 billion investment towards improvement of Lilongwe's transport network .

Partnerships on the K34.5 billion Kenyatta - Mzimba road development

Improve the design of urban or residential road network

The government launched the National Export Strategy ll (2021 -2022).&nbsp;

The National Export Strategy ll (2021 -2022) launched.

Ensure a predictable operating environment for doing business to support private sector and attract FDI

Offer domestic operation licenses to other MCP MANIFESTO 31 2019-2024 operators

President Lazarus Chakwera has ordered a review of all land laws enacted in 2017, blaming them for the country&rsquo;s chaotic scramble for land by both individuals and businesses. He issued the directive in Parliament in Lilongwe on Wednesday during his second session of Questions to the President.

President Chakwera orders a review of all land laws

Repossess and redistribute land that remains idle and undeveloped beyond the specified development period

President Chakwera &nbsp;confirmed holding talks with Masiyiwa as the Malawi leader looks to get Malawi connected to high speed internet.The meeting comes after Chakwera recently expressed concern over the high cost of data in Malawi.

Malawi President holds talks with Masiyiwa over provision of cheap internet

Remove all tariff and non-tariff barriers on internet facilities

AGCOM Project supported by the World Bank provided a $184000 grant for a youth cooperative.

Acadis Youth Farmers Cooperative receive funding from te World Bank.

Incentivize Financial Service Providers (FSPs) to provide products based on the the needs and  wants of young entrepreneurs

Malawi has launched the second phase of the national fibre backbone project; will include nearly 3,000 kilometres of fibre optic cables to connect over 100,000 businesses and homes across the country.

Second phase of the national fibre backbone project lauched

Extend fibre optic cable network to all urban and rural centres

Malawi has inaugurated National Data Centre in Blantyre constructed by Information and Communication (ICT) provider Huawei. The facility will see different types of data being housed in one places accessed everywhere at a little cost.

Malawi inaugurates National Data Centre

Create an enabling environment for the growth of ICT and telecommunication

President Lazarus Chakwera has opted for recapitalisation of the technically insolvent national flag carrier, Malawi Airlines, rather than to let it go under, State House has confirmed.

President Chakwera recapitalised Malawi Airlines.

Establish a new National Airliner

Nkhata Bay Construction has commenced under the Northern Region Water Board.

Nkhata Bay Construction has commenced .

Upgrade all existing port facilities at Chilumba, Nkhata Bay, Nkhota-kota, Chipoka and Monkey Bay and construct new ones

President Chakwera says the rehabilitation of the M1 Road is crucial to the country's economic development.

M1 road Rehabilitation Launched.

Upgrade M1 road from Nsanje to Chitipa

launched the 20-year Malawi National Tourism Investment Masterplan in Lilongwe. The masterplan, scheduled from 2022 to 2042, is a guide on how Malawi will implement 10 priority tourism projects across the country as one way of transforming the country through tourism development

Chakwera launched a 20 year  National Tourism Investment Masterplan in Lilongwe.

Develop a tourism marketing plan

Malawi's President Lazarus Chakwera has announced plans to reform the country's mining sector to boost the economy and crack down on rampant, illegal mining and mineral smuggling. Chakwera said, if properly regulated, mining could play a major role in Malawi's economy, currently one of the poorest in Africa.

Chakwera announces major reforms to mining

Develop and operationalise laboratory services to test both mineral and petroleum samples locally

Taxpayers with mining projects will be charged taxable income at 30 percent provided that an additional tax of 5 percent of taxable income will be charged for taxpayers whose companies are not incorporated in Malawi. This applies to taxpayers not resident in Malawi.

Government amends tax laws for taxpayers with mining projects.

Promote transparency and accountability in the issuance of mining licenses and management of proceeds

The Reserve Bank of Malawi buying gold from licensed and non-licensed miners. The bank was simultaneously buying and working with the Ministry of Mining to licence miners to formalise the industry.

The Reserve Bank of Malawi buying gold from licensed and non-licensed miners.

Implement the new mining policy

Trade and Industry Minister said the launched (Nes II) targets to increase exports of locally made products and services through export promotion, export development, export facilitation and organisation efficiency and effectiveness.

Malawi National Export Strategy(Nes) II,   launched

Review and improve the National Export Strategy

The government already earmarked 624 hectares across three regions to develop the special economic zones which will transform cities and provide jobs through value-addition of export oriented products and other products that can compete favourably with imports.

Government earmarked 624 hectares across three regions to develop special economic zones

Establish four fully serviced economic zones

Malawi government and Elsewedy Electric of Egypt &nbsp;signed a Memorandum of Understanding (MoU) for the construction of a 50 megawatts solar power plant, a move government says is key towards addressing the country&rsquo;s power deficit

Government signs MOU with Elsewedy Electricals to construct 50MW solar power plant.

Promote energy programming, budgeting and monitoring

Malawi and Mozambique launch a power transmission project to help Malawi meet an increasing demand for electricity. The new project is expected to generate 50 megawatts for the country when completed

New power transmission project launched by Malawi and Mozambique

Expand electricity generation capacity to 2000 megawatts within the first two years and to 5000 megawatts within the next 5 to 10 years.

The government has secured $600 million from the World Bank for the rehabilitation of Kapichiri Dam&nbsp;

$600 secured for Kapachiri Dam rehabilitation

Construct a mega dam with the capacity to generate 2000 megawatts

President Lazarus Chakwera on Saturday launched this year&rsquo;s Affordable Inputs Programme (AIP) in Chiradzulu where he hinted that government is working on an &ldquo;exit strategy&rdquo; for the pogramme.This year&rsquo;s programme is designed to benefit 3.7 million farming households who will be expected to cough K7 500 for a 50 kilogramme (kg) bag, up from the highly heralded K4 495 implemented last year.

President Chakwera launched the Affordable Inputs Programme (AIP) in Chiradzulu

Introduce universal Farm Input Subsidy Programme

The government made a decision to change the fiscal year from one that starts on July 1 and ends on June 30, to one that will start on April 1 and end on March 31

Fiscal year to start on the 1st of April

Change the fiscal year to run from 1st April to 31st March

Malawi's president has announced a plan to help the country's struggling economy recover from the impact of the COVID-19 pandemic. The plan, which includes government-wide spending cuts, follows nationwide protests against the high cost of living in Malawi

Malawi President Announces Economic Recovery Plan

Ensure that the rate of economic growth is higher than population growth rate with an annual growth rate of 6% for the next 10 years

Reduce the level of domestic and external debt from the current MK 3.5 Trillion to less than MK 1 Trillion within the next five years

Support women farmers' collectives and savings groups

Revamp and upgrade all airports, particularly Nyika, Chitipa, Salima, Mangochi, Mulanje and Chikwawa.

Malawi Revenue Authority (MRA) launches the Taxpayer Charter which stipulates the rights and obligations of taxpayers. It also contains standards for service committed to taxpayers and other stakeholders. MRA believes that the implementation of the Charter will enhance service delivery, improve tax compliance and build trust between MRA and the public.

Malawi Revenue Authority (MRA) launches the Taxpayer Charter

Review and promote a fair and effective taxation system

President Chakwera assents to the controversial Non-Governmental Organisations (NGO) (Amendment) Bill. Bill defines roles of the NGO Board and Council for Non-Governmental Organisations in Malawi (Congoma) besides demanding accountability for funds. CSOs had urged Chakwera not to assent to the Bill, arguing it is aimed at gagging operations of CSOs and undermining human rights and democracy.

President assents to the controversial Non-Governmental Organisations (NGO) Amendment Bill

Create a favourable environment for Civil Society Organisations (CSOs) to participate in the economy and contribute to national development

Malawi President invited Development Partners and Private sector to partner in the development of lakeshore areas

Development of lakeshore areas

Establish new Lake Malawi tourist cities in Karonga, Salima and Mangochi

Connect all government offices and public facilities to broadband internet

Allow new entrants to ICT sector

The Ministry of Transport and Public Works has issued a licence to Khama Airlines Limited&nbsp;

Licence to Khama Airlines Limited

Review policies and constraints affecting the airline industry and increase the fleet of aircrafts for domestic operators

Introduce more modern water transport vessels for both cargo and passenger services on Lake Malawi.

Revamp support institutions for water transport safety

Review the water transport concession agreements

The National Planning Commission made a decree that national projects will not have to be shuffled around at the discretion of those who hold political power.

National Planning Commission's Decree

Depoliticise road development programmes

Reintroduce the district Roads Improvement and Maintenance Programme (DRIMP)

Exploit social media as an instrument for promoting Malawi as an attractive tourist destination.

Forecast human resource needs and ensure our people attain knowledge fit for exploitation of non-renewable resourced

Develop a Comprehensive Mining Strategy (CMS)

Finalise geo-mineral resource mapping and develop a comprehensive exploitation plan

Identify potential mineral buyers and re-establish Gemstone Marketing Centers

Domesticate the AMV by establishing a workable and investment-based Country Mining Vision (CMV)

Malawi to receive K50 billion in royalties from Lopusa Mining investment in line with current laws

Malawi to receive K50 billion  from Lopusa Mining investment

Ensure strict adhere and compliance with laws to promote investment in mining by both local and international companies

Undertake investment promotion to enhance industrialisation and attract FDI

Establish village factories

Create designated spaces in metropoles as markets for Malawian merchandize and promote a Buy Malawi strategy

Integrate the Malawi economy into the global market

Introduce a differentiated tax incentive scheme

Promote rural industrialization

Establish an Economic Empowerment Fund (EEF) with affordable interest rates for SMEs

Enhance participation of indigenous Malawians in major government procurement and investment initiatives

Prioritise local participation in FDIs

Ensure that the country has adequate production, supply, and stock of petroleum fuels at all times

Improve the adequacy, quality and and quantity of energy distribution faciliticies

Construct waste management plants in Blantyre, Lilongwe, Mzuzu and Zomba

Reintroduce training of extension personnel

Reduce post-harvest losses to less than 10% especially among smallholder farmers

Turn maize into a cash crop by removing bottlenecks the undermine maize marketing

Ministry of Finance announces new monthly PAYE schedule &nbsp;where those earning K0 to K100,000 will be taxed 0 percent

New monthly PAYE schedule

Raise the zero-rated Pay As You Earn (PAYE) tax threshold from MK 35,000 to MK 100,000

Multiply the current legume export value by five-fold plus, contributing towards domestic resource mobilisation drive

Government through the Reserve Bank of Malawi established a structured minerals market and commenced buying gold on 1st May 2021

Establishment of a structured minerals market

Promote the use of structured markets to mobilize domestic resources to multiply commodity exports more than five fold

The Ministry of Finance produced a Domestic Resource Mobilisation Strategy

Promise

Promise History

Reserve Bank of Malawi (RBM) revised upwards the policy rate to 14 percent in May this year from 12 percent