The Reserve Bank of Malawi has granted a Payment Service Provider licence to local fintech firm PayChangu to support digital payments and financial inclusion, according to Nyasa Times. The regulatory approval allows the company to offer payment aggregation services nationwide, combining bank transfers, mobile money, and card transactions into a single platform for local businesses.
Update: To address the fuel shortages stalling domestic trade, 287 fuel tankers are expected to arrive in Malawi this week after an intervention by President Peter Mutharika. According to Nyasa Times, the Transporters Association of Malawi stated that the President helped resolve a weeks-long loading delay at regional ports. The association confirmed that fleets have now secured fuel supplies in Dar es Salaam, Tanzania, and Beira, Mozambique.
Update: Malawi's foreign exchange deficit continues to generate debate regarding government spending priorities. According to Nyasa Times, Archbishop Thomas Luke Msusa of Blantyre publicly criticized the situation, questioning why foreign currency is available for vehicle imports but not for public hospital medicines or fuel. On the monetary front, Nation Online reports that the Reserve Bank of Malawi recently recorded an increase in gross foreign exchange reserves to $616.3 million. However, economists note this amount provides only 2.5 months of import cover, keeping the country below the recommended three-month macroeconomic safety threshold.