Update: The Reserve Bank of Malawi has revoked the licenses of 11 trustees of the Public Service Pension Trust Fund after they failed to comply with orders to unwind the controversial $51 million purchase of the Amaryllis Hotel Blantyre, according to the Mail & Guardian. The Malawi Congress of Trade Unions has demanded a full recovery of the pension funds as the Anti-Corruption Bureau intensifies its probe into the financial transaction.
Recent National Statistical Office data shows Malawi's trade deficit widened by 18.5 percent in the first quarter of 2026 to reach $789 million, or approximately K1.3 trillion, Nation Online reports. On the monetary policy front, the Reserve Bank of Malawi has outlined new plans to develop a central bank digital currency.
In the commercial banking sector, NBS Bank has launched a dedicated Chinese banking service to facilitate cross-border trade, according to Nyasa Times. The service features a Mandarin-speaking relationship management team designed to ease language and cultural barriers for local enterprises and Chinese investors. Additionally, FDH Bank has released its 2026 growth strategy, placing the mining sector at the core of its corporate plans, Nation Online reports.
Update: President Arthur Peter Mutharika reaffirmed his administration's economic recovery plans during a Friday meeting at Sanjika Palace, pledging to resolve chronic fuel and foreign exchange shortages, according to Pan African Visions. During the address, Mutharika also personally dismissed ongoing rumors regarding his health, denying reports that he had traveled to South Africa for medical treatment.