The Ntha Foundation was privileged to attend the launch of the 19th edition of the Malawi Economic Monitor, titled “Reforming with Urgency – Malawi’s Path to Economic Stability,” with a special focus on “Investing in Adaptive Safety Nets.”
This significant event, held at Sunbird Capital Hotel, in Lilongwe brought together policymakers, economists, and development partners to discuss the pressing economic challenges facing Malawi and the urgent reforms needed to stabilize the economy and support vulnerable households.
Representing Ntha Foundation was our Managing Director, Rhoda Kamwaza, along with her dedicated team. Their presence underscored our commitment to engaging with and contributing to national dialogues on economic stability and social protection.
Event Highlights:
The event commenced with a detailed presentation of the report’s findings. Here are some key points:
- Economic Growth and Challenges: Economic growth in Malawi has been slower than expected, with projections for 2024 revised downward to 2% due to an El Niño-induced drought and incomplete reform agendas. The drought has exacerbated existing macroeconomic imbalances, resulting in large fiscal deficits, balance-of-payments challenges, unsustainable debt, and price instability.
- Food Insecurity: The weak harvest has intensified food insecurity, with a significant portion of households unable to access sufficient nutrition. The upcoming lean season is expected to be particularly challenging, highlighting the urgent need for increased grain imports and policy measures to build resilience.
- Urgent Reforms Needed: The report emphasizes the importance of immediate emergency-response efforts and structural reforms to stabilize the economy. Key focus areas include restoring macroeconomic stability, bolstering food security, protecting vulnerable households, and strengthening productive capacity.
- Social Protection: The report’s special topic highlights improvements in Malawi’s social protection system, including innovations in climate adaptation and household-level support. However, challenges such as institutional fragmentation and incomplete policy frameworks remain.
Keynote Speakers:
The event featured insightful presentations from several distinguished speakers:
- Hon. Jean Sendeza, Minister of Gender, Community Development & Social Welfare, outlined the government’s commitment to the reform agenda and the steps being taken to address fiscal and external imbalances.
- Firas Raad, World Bank Country Manager for Malawi, emphasized the critical role of international partnerships and the importance of implementing planned reforms to ensure long-term economic stability.
- Maxwell Mkwezalamba, an esteemed economist and former Minister of Finance, provided a detailed analysis of the current economic situation and the necessary measures to build resilience against future shocks.
For the Ntha Foundation, attending this event was a significant opportunity to reinforce our commitment to contributing to national efforts towards economic stability and social development. We are dedicated to working alongside the government, private sector, and other stakeholders to implement the necessary reforms and create a more resilient and prosperous future for Malawi.
As we continue to engage in these vital conversations and initiatives, we invite our partners and the broader community to join us in this mission. Together, we can build a stronger, more inclusive Malawi where every citizen has the opportunity to thrive.
Work With Us
Want to partner on or fund one of our programmes / initiatives? We are always open to collaborations and partnerships. Contact our Business Development Associate; Ms. Abigail Zingani via contact@kwathucentre.org, or give us a call(direct or WhatsApp) on +265991850749.
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