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Financial Sector Overview

Malawi officially the Republic of Malawi, is a landlocked country in southeast Africa that was formerly known as Nyasaland. It is bordered by Zambia to the northwest, Tanzania to the northeast, and Mozambique on the east, south and west. Malawi is over 118,000 km2 (45,560 sq mi) with an estimated population of 18,091,575 (as at July 2016). Lake Malawi takes up about a third of Malawi's area. Its capital is Lilongwe, which is also Malawi's largest city; the second largest is Blantyre, the third is Mzuzu and the fourth largest is its old capital Zomba. The name Malawi comes from the Maravi, an old name of the Nyanja people that inhabit the area. The country is also nicknamed "The Warm Heart of Africa"

At a Glance

Source
Population in thousands (2017): 18,622.1
GDP per capita (current US$) 2017 - World Average 10,721.61: 338.48
Account (%) age 15+) - (2014 vs 2017): 18% | 34%
Agriculture Orientation Index - Credit ( Agriculture, Forestry and Fisheries share of GDP) (2015 vs 2016): 1.00 | 0.88
Financial Inclusion Strategies: • The Malawi National Strategy for Financial Inclusion (2010–2014)• SADC Financial Inclusion Strategy 2016-2021
Domestic credit provided by financial sector (% of GDP) 2017: n/a
Made or received digital payments in the past year (% age 15+) (2014 vs 2017): 11% | 28%
Remittances % of GDP for 2017: 0.006
Mortgage Interest Rate / Mortgage Term (years): 35.5% | 10

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Latest News & Events

May 03, 2019 | Nyasa Times; All Africa
The Reserve Bank of Malawi (RBM) has resolved to slash the policy rate - the bank rate - a key driver of interest rates on loans to 13.5 percent in…

Latest Publications

Sep 30, 2018 | X Gine, j. Goldberg | The World Bank
Jul 31, 2018 | FinMark Trust | FinMark Trust
Jun 14, 2017 | S. Truen, W. Jitsing, K. Kgaphola et al. | FinMark Trust
May 31, 2017 | A.B. Fanta, K. Mutsonziwa, B. Berkowitz et al. | FinMark Trust
Apr 30, 2017 | A.B. Fanta, K. Mutsonziwa, B. Berkowitz et al. | FinMark Trust
Dec 31, 2016 | A.B. Fanta, K. Mutsonziwa, R. Goosen et al. | FinMark Trust