Malawi and Mozambique on Thursday signed three agreements to enhance the movement of people and goods between the two neighboring countries.
The agreements, signed after bilateral talks between President Lazarus Chakwera and Mozambican President Daniel Chapo, include the establishment of a One Stop Border Post, implementation of digital systems, and introduction of direct flights between the two countries.
Chalo and Chakwera
In an interview with journalists,Minister of Foreign Affairs Nancy Tembo revealed that the agreements aim to simplify travel and trade between Malawi and Mozambique.
Tembo highlighted the challenges posed by the current lack of direct flights, which force travelers to take connecting flights through South Africa and Zambia.
She said the new direct flights will greatly ease travel between the two nations.
President Chapo who is in the country is expected to engage in several activities, including a tour of the Parliament Building, a visit to the Kamuzu Mausoleum, and a lunch meeting with Malawian business leaders.
The Small and Medium Enterprises Development Institute (SMEDI) and Southern Africa Trade and Connectivity (SATC) are optimistic about Malawi’s potential to boost its export base by empowering small business owners with value addition skills and quality product production.
Speaking to journalists in Mwanza on Thursday,SMEDI Training Manager Francis Mwamadi,said the organization is currently conducting trainings in Phalombe, Mwanza, and Neno to strengthen small-scale business operators’ capacity to export goods to neighboring countries, particularly Mozambique and Zambia.
Francis Mwamadi
Mwamadi said the trainings aim to equip small businesses with the ability to produce quality goods that meet export standards.
He emphasized that the focus is on small businesses with export potential, highlighting the importance of building a strong export base for Malawi’s economic growth.
On his part,(SATC) Communications Specialist Joab Chakhaza revealed that revenue authorities and bureau of standards from Malawi, Mozambique, and Zambia are collaborating to remove cross-border trade barriers.
He said the initiative is part of a World Bank-funded project that has allocated K390 million to SMEDI to provide trainings to export-potential small and medium enterprises in 15 districts along the Beira and Nacala Corridor and border districts.
FDH Bank Plc says the Vaa Vroom Promotion has received tremendous support from customers as excitement builds for the Grand Prizes of two VW Golf 7 GTI vehicles.
FDH Bank Plc Senior Manager for Digital Sales, Yamikani Mbawala, said the promotion has excited most customers who regularly transact of the bank’s POS machines and the Bank’s mobile banking facility, FDH Mobile.
“The Vaa Vroom Promotion is giving a chance to two people to win the grand prize of a VW Golf 7 GTI or K100 000 to 50 people per month,” said Mbawala.
“The grand prizes are very exciting to people as most grand prizes usually go to one person, but this is an opportunity for two people to win a VW Golf 7 GTI each,” he added
Mbawala added that the bank is committed to offering customers excellent banking experience and innovative digital solutions.
The promotion runs from 11 February 2024 to 31 July 2025.
FDH Bank plc has reported a record-breaking profit after tax of K74 billion for the year ending December 31, 2024 marking a staggering 108% growth from K35.6 billion recorded in 2023.
This was revealed during the bank’s Annual General Meeting held on May 30, 2025, at the Thomson Frank Mpinganjira (TFM) Centre of Excellence where the board and shareholders celebrated what was described as an ‘excellent performance’ amid a turbulent economic landscape.
The profit growth was largely driven by a 90% increase in revenue, reaching K195 billion, alongside significant growth in net interest income which rose by 136% to K141 billion, up from K60 billion in the previous year.
Charity Mseka
The bank’s total assets grew by 119%, surpassing K1.2 trillion, while customer deposits nearly doubled to K883 billion reflecting a 99% increase.
Commenting on the performance, the bank’s board chairperson, Charity Mseka, commended employees for dedication and hard work despite turmoil economic hardships the country is currently striding to maneuver through.
Mseka said; “We are very excited that we achieved such a great performance. It reflects the dedication of our staff, our innovative approach, and the strategic path we continue to follow.”
In the year under review, another bank’s key milestones was the launch of FDH Salama Banking Solution, a pioneering service offering Shariah-compliant banking to Malawians.
This marked a significant step in financial inclusion, as it became Malawi’s first bank to offer Islamic banking products tailored to serve both individuals and businesses seeking banking solutions aligned with Islamic principles.
“The Salama solution opens new opportunities for unbanked and underserved communities, broadening our reach and inclusivity,” said Noel Mkulichi, Bank’s Managing Director
In a further show of its commitment to reach its more clientele, the financial institution became the only commercial bank with a physical branch on Likoma Island, solidifying its position as the most accessible banking partner in the country’s most remote areas.
Meanwhile, the bank’s market capitalization has also surpassed K2.1 trillion, reinforcing its dominance on the Malawi Stock Exchange (MSE).
Shareholders received K35.1 billion in dividends for the year, up by 79% from 2023, representing K5.09 per share.
Commenting on the development, a member of Minority Shareholders of Listed Companies of Malawi (MISALICO), Lovemore Tinto, hailed the bank for the outstanding performance.
“As shareholders, we are proud and satisfied with the direction FDH Bank is taking. The results speak volumes about the quality of leadership and long-term vision,” said Tinto.
Despite its stellar performance, the bank navigated through macroeconomic challenges, including high inflation, forex shortages, and slow GDP growth.
Operating expenses rose by 42%, largely due to investments in digital infrastructure and delivery channels.
However, the increase in customer deposits and advances to customers helped sustain growth.
Looking ahead, the local economy remains uncertain in 2025, with inflation projected to average 29.2%, while GDP growth is expected at 4.0%, up from 1.8% in 2024.
“We will continue to focus on profitability, diversification, and digital transformation while supporting Malawi’s development agenda,” said Mseka.
With its bold expansion plans, solid financial footing, and innovations such as Shariah-compliant banking, FDH Bank is positioning itself not just as a leading financial institution in Malawi, but as a competitive player in the broader regional market.
Just a few hours after the death of Deputy Minister of Local Government and Mwanza West Parliamentarian Joyce Chitsulo, death has also been announced of Councillor for Mankhamba Ward in Mtakataka, Dedza district, Gift Balaka.
Balaka who was Malawi Congress Party (MCP) Councillor is reported to have died following a road accident that took place at Katelera in Salima district on Friday afternoon.
Gift Balaka
Meanwhile the body of the late Gift Balaka is being kept at Salima District Hospital’s mortuary.
Details for the burial arrangements are expected to be announced later this evening.
