LILONGWE — The Bankers Association of Malawi (BAM) has commended President Professor Arthur Peter Mutharika for championing economic reforms that the association says are helping steer Malawi’s economy towards recovery.
BAM President Philip Madinga made the remarks on Friday at Kamuzu Palace after meeting with President Mutharika.
Madinga pointed to declining inflation and a reduction in the interest rate as key indicators of improving economic conditions.
According to figures cited by BAM, inflation fell from 28.2 percent in August 2025 to 20.0 percent in August 2026, while the interest rate declined from 26.0 percent in August 2025 to 24.0 percent in August 2026.
“We have commended the President because, since he returned to power, we have seen economic progress.
Inflation is going down, and significant strides are being made toward economic recovery,” Madinga said.
Madinga said the banking sector was ready to support efforts aimed at strengthening the economy and promoting investment across key sectors.
President Mutharika, speaking after the meeting, welcomed BAM’s commitment to working with government, particularly in areas considered critical to economic development.
He said the two sides had agreed to collaborate in sectors including agriculture, mining, infrastructure development and tourism.
“We had an extremely fruitful meeting. Crucially, we have agreed to work together to advance the country’s economy in key sectors such as agriculture, mining, and infrastructure development,” President Mutharika said.
The engagement comes as government seeks greater private-sector participation in efforts to stimulate economic growth, attract investment and support recovery.
