FDH Bank plc has unveiled an ambitious 2026 growth strategy that places the mining sector at its core, with plans to formalise gold trading, boost foreign exchange inflows and deepen its footprint in the extractive industry.
In his remarks during the 2026 Investor Forum in Blantyre yesterday, FDH Bank plc managing director Noel Mkulichi said the strategy will focus on partnering with the State-owned Malawi Mining Investment Company to support structured gold marketing systems to bring small-scale miners into a formalised trading framework.
Under the proposed arrangement, he said small-scale miners will be organised into cooperatives to sell their gold through FDH Bank branches and receive immediate payments to improve transparency and reduce illegal trading.
Mkulichi said the model will help curb gold smuggling, improve traceability of mineral resources and boost foreign exchange inflows at a time Malawi continues to experience acute forex shortages.
He said mining presents a strategic opportunity for the Malawi Stock Exchange-listed home-grown bank to diversify its operations and support formalisation of the sector that contributed about one percent to the country’s gross domestic product.
“We are positioning ourselves to participate in structured mineral trading systems that allow miners to access markets efficiently while ensuring transparency and value creation,” he said.
Mkulichi said the bank’s immediate focus is to establish strong operational systems within the mining value chain before expanding its footprint further into the sector.
He said integrating banking services into mining will support trade while also improve regulation and financial inclusion for small-scale miners.
On his part, Minority Shareholders Association of Listed Companies secretary general Frank Harawa welcomed the bank’s entry into the mining sector, but urged it to broaden its focus into agriculture, saying the sector also offers strong export potential and foreign exchange earnings.
He said FDH Bank plc could also explore value chains such as cotton, macadamia and groundnuts, where structured export systems can directly generate foreign currency for the institution and support farmers.
“For example, the bank could be buying groundnuts from farmers and exporting them directly so that proceeds come straight into the bank,” said Harawa.
He suggested that the bank could also establish a dedicated agricultural export function to link farmers to large international markets.
During the meeting, FDH Bank also announced that its profit after-tax for the year ended December 2025 doubled to K147.7 billion from K74 billion in 2024.
FDH Bank plc board chairperson Charity Mseka said the performance was driven by disciplined lending and strong internal controls, which helped the bank to maintain stability while expanding its growth agenda.
She said the bank has already explored opportunities in Zambia, including establishing a forex bureau as part of a phased market entry strategy.
FDH Bank plc is 74.05 percent owned by FDH Financial Holdings Limited with 20 percent owned by the public, 4.75 percent by Malawi Government and 0.4 percent by employees.
