LILONGWE-(MaraviPost)-As Malawi celebrates the recent stability of the Kwacha on the foreign exchange market, many citizens say the benefit of the strengthened currency is yet to be felt in their daily lives.
While the stability of the Kwacha has brought hope of improved economic conditions, some Malawians are raising concerns over the scarcity of cash in circulation, saying access to money has become increasingly difficult.
For minibus driver LLoyd Banda, the situation presents a painful contradiction a stable currency with little money available for ordinary people to earn and spend.
Banda says during the previous administration of the Malawi Congress Party (MCP), the Kwacha was losing value frequently and prices of goods and services continued to rise, but money was still circulating among citizens.
“The Kwacha was losing value almost every day and things were becoming expensive, but at least the money was available for people to do business and survive,” Banda said.
He explained that his earnings from minibus operations have significantly dropped compared to previous years.
“There was a time when we could make around MK60,000 from one trip. Even during difficult times, we could still make about MK40,000. But now, we are struggling to make even MK20,000,” he said.
Banda believes that while maintaining a stable currency is important, government should also focus on ensuring that money reaches ordinary Malawians through increased economic activity and opportunities.
“Government should find ways of making money available to citizens regardless of the economic strategies being used to keep the Kwacha stable,” he added.
An Area 23-based kaunjika (second-hand clothes) trader has echoed Banda’s sentiments, saying that although bale prices have become stable due to the improved exchange rate, business remains slow because many customers are struggling with cash shortages.
She said most people are now prioritising basic needs such as food over buying clothes, a situation that has affected sales for traders who depend on kaunjika businesses for their livelihoods.
“The bale prices are stable now, but the challenge is that people do not have enough money to buy. Many are choosing to spend their little income on food instead of clothes,” she said.
Economic experts have often emphasized that currency stability alone does not automatically translate into improved living standards unless citizens can access income, jobs, and affordable goods and services.
For many Malawians like Banda, the real measure of economic recovery is not only a stable Kwacha, but whether families can feel the impact through improved livelihoods and increased purchasing power.
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