By Jones Gadama
Standard Bank plc has pledged stronger support for Malawi’s National Economic Recovery Plan, arguing that the country’s economic turnaround will depend less on new policies and more on disciplined implementation and private sector partnership.
Speaking through Chief Executive Phillip Madinga, who also serves as President of the Bankers Association of Malawi, Standard Bank said the NERP provides a credible foundation but warned that confidence and execution will determine its success.
“Malawi’s economic recovery hinges on confidence. Confidence in its fiscal discipline, faith in a stable foreign exchange market, assurance in governance systems and in the commitments made by institutions,” Madinga stated.
The bank outlined five critical requirements for implementation drawn from a recent workshop: clear prioritisation of high-impact interventions, strong coordination across institutions, accountability and performance management, transparency in public financial management, and rigorous monitoring with course correction. “In simple terms, execution must become the strategy,” Madinga said.
Standard Bank cited practical examples of public-private partnerships already delivering results. As lead arranger for funding the Dr Saulos Klaus Chilima Highway, the bank demonstrated how innovative financing can unlock large-scale infrastructure.
It also noted pilot support for fuel imports that helped maintain energy supply and economic stability during periods of pressure.
The financial institution said the private sector is ready to partner with government, development partners and civil society to translate the NERP into tangible outcomes such as jobs, business growth, higher exports and improved livelihoods.
Madinga added that Standard Bank will deploy capital, support enterprise development and enable inclusive growth as part of its commitment to Malawi.
On financial inclusion, the bank highlighted digital platforms like Business Online and Enterprise Online, plus its 247 banking channels, as tools equipping businesses and individuals to operate more effectively.
The recent rollout of agency banking was described as a critical step in bringing services closer to communities and reducing barriers for underserved and unbanked Malawians.
Market data published alongside the commentary showed mixed regional performance.
Kenya’s stock market recorded a 13.39% year-to-date return as of 16 June 2025, while South Africa was down 0.24%, Zambia down 9.93% and Malawi down 14.12%. The World Bank projects Malawi’s real GDP growth to rise gradually from 1.9% in 2025 to 3.0% by 2028.
Madinga concluded that while the path to recovery will not be easy, discipline, partnership and a relentless focus on execution can make it achievable.
“As a purpose-driven organisation, Standard Bank is clear in our role: Malawi is our home, and we are committed to driving her growth.”
