BLANTYRE-(MaraviPost)-Key stakeholders have urged speedy action to fix the country’s ailing economy in the first 100 days after the September 16, 2025 elections.
The call is contained in a White Paper released Thursday by Standard Bank Plc following the bank’s facilitated multi-stakeholder round-table dialogue held in Lilongwe under the theme; “Towards Economic Recovery and Growth by Bringing the ATMM Strategy to Life”.
The Growth Conversations round table series are a dialogue platform convened by Standard Bank Plc.
Attended by senior level representatives from government, regulatory bodies, donors, United Nations, the private sector and Reserve Bank of Malawi (RBM), the stakeholders agreed on a raft of recommendations requiring urgent implementation to reverse economic decline.
“Delegates acknowledged the urgency of fast-tracking several economic reforms to catch up with development targets.
The forum explored how the ATMM strategy could be applied to address perennial macroeconomic challenges,” reads the paper.
It lists addressing shortages in food, forex and fuel, finalizing debt restructuring, tightening expenditures, concluding mining development agreements, rebalancing agriculture spending and implementing an accelerator program for the first implementation phase of #MW2063 national vision as the key actions that need to be implemented immediately.
During the forum, commercial banks were challenged to increase funding towards the real sector comprising agriculture, tourism, mining and manufacturing which together make up the government’s ATMM strategy.
The White Paper said a joint analysis by the Economics Association of Malawi (Ecama) and the National Planning Commission showed that little funding was going towards the ATMM strategy sectors and challenged both government and commercial banks to reprioritize their focus.
“Banks are challenged to increase credit to the private sector where the key ATMM players are, as opposed to the current scenario where most credit is going to government. For its part, the government must clearly identify funding needs for ATMM sectors and position them for investment,” reads the paper.
During the round table discussion, the Minister of Agriculture Sam Kawale cited reduction of AIP expenditure AIP by 67%, de-risking of agriculture by increasing irrigation and insurance, and financing smallholder farmers through NEEF to prepare them transition into the mega farm initiative, as some of the reforms underway.
Tourism Minister Vera Kamtukule told the round-table that key reforms in her sector include establishment of the Tourism Council, a coordinating unit to drive national tourism development, enactment of the 2025 Tourism Act replacing the 1968 Act, a blueprint to upgrade Malawi Institute of Tourism into a college and Club Makokola in Mangochi into international airport, and the Brand Malawi Project which aims to integrate tourism marketing.
Convenor of the round table, Standard Bank Chief Executive Phillip Madinga reaffirmed the bank’s commitment to continue leading in dialogue aimed at facilitating economic recovery in line with the bank’s purpose to drive growth.
“These conversations are a catalyst for action, as what we agree in this forum gets followed through with tangible results. Since 2022, we have seen some reforms gaining traction after their tabling on this platform, and this third edition of Growth Conversations builds on that progress,” said Madinga who is also President of Bankers Association of Malawi (BAM).
He described the country’s macroeconomic situation as being at a crossroads, with both risk and opportunity clearly visible. He cited Malawi’s MW2063 Vision, the Malawi 2063 First 10-Year Implementation Plan (MIP-1), and the ATMM strategy as key opportunity strands. However, he also highlighted economic uncertainty characterised by food-driven inflation, forex shortages, and rising debt as major downsides.
The dialogue, which included a panel discussion featuring the two cabinet ministers, stressed the need for cohesion and collaboration amongst key stakeholders.