Update: The Reserve Bank of Malawi has frozen a significant portion of K72.6 billion traced from the Public Service Pension Trust Fund in connection with the Amaryllis Hotel transaction, according to Nation Online. Director of Pension and Insurance Supervision Kaluso Chihana informed the parliamentary Public Accounts Committee that the central bank intervened after discovering serious governance breaches. Face of Malawi reports that regulators imposed a K40 million administrative penalty on each trustee for failing to submit the required sale agreement documentation on time.
In the banking sector, Standard Bank plc recorded a K121.7 billion after-tax profit, representing a 41 percent increase, reports Nyasa Times. Speaking at the 2026 Investor Forum in Blantyre, Chief Executive Officer Phillip Madinga attributed the financial growth to investments in digital platforms and tight risk management. The profit surge occurred during difficult economic conditions, as businesses and consumers face high interest rates and elevated inflation.
To address currency durability and pricing issues, the Reserve Bank of Malawi will introduce new K20 and K50 coins starting April 24, 2026, according to the Malawi Broadcasting Corporation. RBM Governor George Partridge announced the change as a cost-saving measure, explaining that low-value banknotes deteriorate quickly, while coins can circulate for up to two decades. Nyasa Times notes that the central bank hopes the smaller denominations will maintain pricing precision and discourage vendors from rounding up costs.