LILONGWE-(MaraviPost)-MPICO, a member of the Old Mutual Group in Malawi, has declared a dividend of MK1.149 billion for 2025 to its stakeholders, representing 50 Tambala per share.
This is a sharp increase from MK988,160 million in 2024, representing 43 Tambala per share.
The dividend therefore will be payable on Friday, July 24, 2026 to those shareholders appearing in the register of members by close of business on Friday 17, July this year.
However, MPICO plc shares will trade ex-dividend from Wednesday, July 15, 2026.
Shareholders of Mpico plc have approved a final dividend of K1.14 billion at the company’s 53rd Annual General Meeting in Lilongwe today.
This was revealed during MPICO’s 53rd Annual General Meeting (AG) on Monday, June 29, 2026 in the capital Lilongwe.
According to MPICO’s board chairperson Edmund Hami, revenue grew by 44% compared to 2024, driven by a 16% increase in rental income to MK9.31 billion (from MK8.06 billion in 2024) following rent reviews, and a 63% increase in fair value gains to MK19.63 billion (from MK12.07 billion in 2024).
“Total operating expenditure rose by 20% to MK8.07 billion (from MK6.74 billion in 2024), largely reflecting inflationary to higher rental income and property fair value gains .
“Government rental arrears, however, rose to MK724 billion as at 31 December 2025 (up from MK34 billion in 2024), which continued to adversely affect the Group’s operations,” declares MPICO plc Group’s results for the year ended 31 December 2025.
Here is full board chairperson Hami statement
Malawi’s economic performance in 2025 showed a modest recovery relative to 2024, with Gross Domestic Product (GDP) growth estimated at 24% up from 18% in 2024, supported by a partial rebound in agricultural output following Improved weather conditions and a gradual recovery in selected service sectors.
However, persistent foreign currency shortages, high import costs, and subdued industrial activity continued to constrain speedy economic recovery.
Headline inflation remained elevated, averaging 28.4% in 2025, slightly lower than the 32.2% recorded in 2024, reflecting some easing in food prices due to higher humanitarian food support towards year-end, and positive base effects. That said, continued pressure from exchange rate pass-through, fuel costs, and fiscal adjustments persisted.
The Reserve Bank of Malawi (RBM) maintained the Policy rate at 26.0% (since February 2024 when it was hiked by 200 basis points) to contain second-round inflation effects and stabilize inflation expectations.
Listed equities sustained strong returns, recording an annual capital gain of 247.6% in 2025 (2024: 55.1%), underpinned by inflation-hedging demand and solid earnings growth in selected counters.
Fixed income investments continued to post negative real returns, particularly on the short end of the yield curve, amid high inflation, while property investments delivered nominal appreciation albeit constrained in real terms due to elevated construction costs and weak effective demand
Group Performance
The Board of MPICO pic is pleased to announce the Group’s results for the year ended 31 December 2025.
Revenue grew by 44% compared to 2024, driven by a 16% increase in rental income to MK9.31 billion (from MK8.06 billion in 2024) following rent reviews, and a 63% increase in fair value gains to MK19.63 billion (from MK12.07 billion in 2024).
Total operating expenditure rose by 20% to MK8.07 billion (from MK6.74 billion in 2024), largely reflecting inflationary to higher rental income and property VER gains
Government rental arrears, however, toss to MK724 billion as at 31 December 2025 up from MK34 billion in 2024), which continued to adversely affect the Group’s operations
Property Market in Malawi
The real estate sector continued to be resilient amidst the challenging operating environment with rising inflation, high interest rates, fuel shortages and sporadic supply of construction materials. The retail and residential sector remained the strongest as shown by developers increasingly investing in mid-range shopping centers and housing with strong demand for smaller unit shops and smaller housing units
The office market remained relatively stable, with Occupancy levels averaging around 85%. Rent reviews improved as most landlords achieved rent escalations in the range of 20% to 28%. This was an improvement on the 18% achieved in a Similar reporting period of 2024. The relocation of some Government offices and parastatals From Lilongwe to Blantyre will possibly have a negative impact on the Lilongwe market in the short to medium term and have a positive mpact on the Blantyre and Zomba markets Despite slow construction progress, the office Duildings are being constructed in the Central Business Districts (CBD) in the major cities.
Prospects for 2026
In addition to development of office space and mid-range open plan mix use complexes, tudent accommodation is becoming attractive locations near public and private universities. The developments are largely undertaken by mall to medium investors.
The enacting of 2024 Sectional Titles Act where person owns a specific unit within a larger uilding or development, together with a shared mterest in common areas may boost the real state sector by stimulating growth, maximizing nd use and improving urban development and nodernization.
Group Property Portfolio Performance
The Group property portfolio performance improved in 2025. The occupancy rate for the group increased to 96% in 2025 from 92% in 024. The drivers for the strong performance were property refurbishments, demarcation of larger units at The Gateway into smaller units, and prime location of the property portfolio
Building maintenance works were implemented which resulted into the refurbishment of 9,503 square meters of space. As at 31 December 2025, overall execution stood at 75%, compared to the annual target of 90%. The variance is mainly attributable to budgetary constraints arising from significant increases in the cost of maintenance materials. The continued rehabilitation and maintenance works are keeping MPICO pic’s property portfolio in a good state of repair.
Rehabilitation of Tikwere House which was damaged by fire in May 2023 was completed by third quarter 2025.
Economic Outlook
Economic growth in 2026 is projected to remain positive, albeit subdued, projected at 2.2%, according to the International Monetary Fund (IMF), contingent on agricultural performance, progress in securing external financing, and improved foreign exchange inflows.
Shifts in macroeconomic policy direction, including renewed emphasis on fiscal consolidation, public debt restructuring, and re-engagement with development partners to unlock concessional financing will likely continue. Inflation is expected to gradually decelerate in 2026, provided food supply improves and exchange rate pressures ease; however, risks remain including lower than expected agricultural output, a steep exchange rate depreciation, global commodity supply disruptions due to the United States geopolitical conflicts and further hikes in energy prices as well as utility tariffs.
Iran geopolitical conflict and further hikes in energy prices as well as utility tariffs
Signed by Edmund Hami Board Chairperson
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