The Reserve Bank of Malawi (RBM) has hailed commercial banks and other financial institutions for resilience amid the economic shocks that have affected the country.
Speaking on Monday during the 2025 Lakeshore Compliance Conference in Mangochi, RBM Deputy Governor for economics and regulation Kisu Simwaka commended the banking sector for maintaining stability and commitment despite facing multiple economic challenges.
of shocks. | Ayamba Kandodo
“Since 2020, we have faced quite a number of shocks, but the banking sector has been resilient up to this time. This is something worth applauding because it is not easy,” he said.
Simwaka observed that the sector continues to perform well in terms of capitalisation, liquidity and profitability, adding that is an encouraging sign for Malawi’s economic development.
“We have seen non-performing loans decline to below five percent at a time when our economy has gone through difficult situations. That is not a mean achievement,” he observed.
Simwaka urged financial institutions to continue adopting strategies that enhance resilience and ensure survival during economic turbulence, especially in the evolving digital age where data protection, privacy and cybersecurity are central to financial system stability.
“Compliance must be seen as an investment in trust, essential for financial stability and inclusive growth.
“It should not be viewed as a mere obligation, but as a shared commitment to building a stable and credible financial system that supports Malawi’s growth ambitions,” he said.
In her remarks, Financial Sector Compliance Committee chairperson Chikondi Kapyepye described the conference as an eye-opening platform for financial institutions to share experiences, build capabilities and learn from one another.
“We will take compliance as part of our core business and culture, not merely as an obligation,” she said.
Kapyepye, who is Standard Bank plc head of compliance, pledged the sector’s continued commitment to upholding professional standards and regulatory requirements.
Bankers Association of Malawi chief executive officer Lyness Nkungula said the conference was organised to enhance participants’ understanding of compliance and regulatory issues while promoting the exchange of insights and best practices that strengthen the financial system.
“Bankers Association of Malawi will continue convening such conferences to ensure that players in the banking and financial sectors stay updated on regulations and compliance matters as these are critical pillars of a sound financial system,” she said.
The conference was held under the theme ‘From regulation to resilience: Strengthening compliance for a secure and stable financial future’.
