By Staff reporter
The Bankers Association of Malawi (BAM) has commended President Professor Arthur Peter Mutharika for championing bold reforms that are steering the country’s economy in the right direction.
BAM President Philip Madinga made the remarks on Friday at Kamuzu Palace after meeting with President Mutharika.
Madinga cited clear evidence that the economy is healing under President Mutharika’s leadership.
He said falling inflation which dropped from 28.2% in August 2025 to 20.0% in August 2026 and a lower interest rate which moved from 26.0% in August 2025 to 24.0% this August are key indicators that the economy is moving in the right direction.
“We have commended the President because since he returned to power we have seen economic progress. Inflation is going down and significant strides are being made toward economic recovery,” Madinga said.
This is a huge statement coming from bankers who understand the economy better than any politician.
When bankers say the economy is recovering, it means it is recovering for real. This is not politics. These are numbers from the Reserve Bank.
The hard truth is that when President Mutharika took over a year ago, the economy was on its deathbed. Inflation was at 28.2% and interest rates at 26%. Prices were going up every day. Banks were not lending. Businesses were collapsing under MCP.
In just one year, President Mutharika has managed to bring inflation down by over 8 percentage points.
This is what transformational leadership does. He is not just talking about fixing the economy, he is fixing it.
Speaking after meeting with the Bankers Association, President Mutharika expressed enthusiasm that BAM is prepared to partner with the government in key sectors such as tourism, agriculture, infrastructure and mining.
“We had an extremely fruitful meeting. Crucially, we have agreed to work together to advance the country’s economy in key sectors such as agriculture, mining and infrastructure development,” President Mutharika said.
This is the Malawi we want. A Malawi where government and the private sector work together.
A Malawi where banks invest in agriculture, mining and tourism instead of just buying government treasury bills.
While MCP was fighting banks and calling them names, President Mutharika is bringing them to the table to rebuild Malawi.
Malawi is indeed in safe and wise hands.
