Minister of Finance an Economic Affairs Simplex Chithyola Banda says a data initiative launched in Lilongwe on Friday will empower policymakers through data-driven insights.
He said the initiative jointly launched by the Malawi Government and the United Nations Population Fund (UNFPA) will help Malawi to achieve its socio-economic and development goals by equipping decision-makers with robust data for informed policy-making.
Speaking in Lilongwe on Friday at an event attended by development partners, including United Nations resident coordinator Rebecca Ada-Dontoh and UNFPA deputy director Ezizgeldi Hellenov, Chithyola Banda said the initiative will complement the government’s economic planning and development.
He said: “Data driven-research and policy interventions will help the government to direct the country’s scarce resources to areas where they will have the most impact.
“This initiative aids in assessing sectoral needs, forecasting economic trends and optimising resource allocation, promoting fiscal responsibility and guaranteeing that every kwacha spent supports Malawi’s sustainable growth.”
Hellenov, whose organisation is leading the coordination between government and its partners, said for every dollar they spend on data collection, they are generating about $32 (about K56 000) in gains from implementing the right policies.
“Our planning and coordination improves by investing in accurate and reliable data,” he said
Secretary to the President and Cabinet Colleen Zamba said reliable and responsive data will help stakeholders in economic planning and ensure that the country adjusts to a dynamic and ever-changing environment.
“Accurate data can help local farmers prepare for erratic weather patterns. With the right tools, we can provide local farmers with tracking data on the onset of rains and the amount of rain to expect,” she said.
Zamba said such information can also help farmers to improve their resilience to erratic weather patterns, which last year alone slowed economic growth from a projected 3.2 percent to 2.3 percent and has placed 5.7 million people on the brink of food insecurity.
National Statistical Office commissioner of statistics Shelton Kanyanda called for capacity building in ministries, departments and agencies to capitalise on the opportunities for data-driven research presented by the initiative.
The initiative is expected to establish a unified national data strategy and develop and implement a cohesive national data strategy to guide data-related efforts across sectors through the National Statistic System.
The initiative will also complement the Malawi 2063, the country’s long-term development strategy and its First 10-Year Implementation Plan.
Through the data, policymakers can generate insights, uncover hidden patterns and utilise predictive analytics to forecast future trends.
