According to Nyasa Times, Finance Minister Joseph Mwanamvekha claimed during a Democratic Progressive Party rally in Machinga that Malawi's economy is stabilizing. Mwanamvekha stated that foreign exchange availability has improved and the kwacha has strengthened, asserting that the exchange rate moved from K4,800 to K3,500 against the US dollar. He also highlighted a drop in the price of maize from K120,000 to K30,000 per 50kg bag as evidence of a stabilizing cost of living. Opposition figures, including former finance minister Simplex Chithyola Banda, quickly challenged his statements, arguing that the minister's claims do not match the daily economic reality experienced by most households.
In the financial and agricultural sectors, Airtel Money Malawi has partnered with the Agricultural Development and Marketing Corporation (ADMARC) to roll out digital payment options. According to business reports, the collaboration allows customers and farmers to buy and sell agricultural produce using mobile money wallets. The initiative aims to modernize payments, increase efficiency, and reduce cash handling risks at ADMARC facilities across the economy.
Meanwhile, the Malawi Council of Churches is advocating for reforms to the national tax system. The World Council of Churches reports that Reverend Alemekezeke Chikondi Phiri, the council's general secretary, criticized outdated agreements such as the UK-Malawi double taxation treaty. Phiri noted that corporate tax incentives cost Malawi an estimated $87 million annually in lost revenue that could otherwise fund healthcare and education. He pointed to a 15-year tax arrangement with Australian mining company Paladin Energy to illustrate an unfair system that favors large corporations.