President Peter Mutharika has praised Standard Bank Malawi for its long‑standing support of the country’s economic growth and urged the institution to scale up investments to accelerate national development.
Speaking on Friday at Sanjika Palace in Blantyre during a meeting with Standard Bank officials, the President said the private sector remains central to national progress.
Mutharika emphasised that the private sector is critical to national progress, noting that no country has ever developed without its involvement.
“Even at the foundation of this country, while the government established schools and hospitals, the economy was built by the private sector. The Mandalas, the tea and tobacco estates and the mega-farms of the past—not ang’ono-ang’ono—were all private sector initiatives,” he said.
Mutharika welcomed the bank’s intention to expand investments in infrastructure, road maintenance, rail and mining, and commended its 57 years of operation in Malawi and its role in supporting economic growth.
Standard Bank Malawi chief executive Philip Madinga said the bank supports the President’s efforts to rebuild the country and pledged to partner with government to unlock more than K4 trillion in investments across priority sectors despite global economic and geopolitical uncertainty.
“The bank is ready to invest in rebuilding roads, boosting climate‑smart agriculture and food security, unlocking mining potential and supporting the education and healthcare sectors,” Madinga said.
“As your partner in driving Malawi’s growth, we stand ready as financier, adviser and execution partner to support Malawi’s economic recovery and help drive long‑term, inclusive growth.”
Madinga said the bank’s assessment indicates K4.24 trillion is needed to support the government’s recovery plans in the immediate to medium term. He broke down the estimate as follows: K2.3 trillion for health and education, K900 billion for agriculture, K665 billion for infrastructure, and K352 billion for mining and energy.
He highlighted Standard Bank’s recent role as lead financier on major projects, including the six‑lane SKC Highway in Lilongwe, the $55 million Kapichira Hydropower Station, facilitation of the Nacala rail corridor rehabilitation, and progress on mining development agreements — examples he said demonstrate the bank’s capacity as a financial partner.
Madinga also said the bank will convene public–private dialogue through its Growth Conversations initiative and is prepared to finance the K200 billion road rehabilitation and maintenance programme managed by the Roads Fund Administration.
He added that Standard Bank will be a lead sponsor of the Mining, Energy and Infrastructure conferences planned for later this year and aims to be a strategic partner in developing Malawi’s digital economy, including a roadmap for harnessing artificial intelligence.
Standard Bank is listed on the Malawi Stock Exchange and, according to Madinga, is strategically positioned to support the government’s ambitious development targets.
