Treasury wants financial inclusion to rise to 90% by 2028
Ministry of Finance and Economic Affairs says it wants financial inclusion of the country’s adult population increased from the current 74 percent to 90 percent by 2028.
In its National Strategy for Financial Inclusion III, the ministry says it is banking on the creation of strong and innovative financial services providers and enhanced legal and regulatory environment.

In a statement accompanying the strategy, Secretary to the Treasury Betchani Tchereni said government will continue with its efforts to ensure that all Malawians have access to financial services and actively participate in the financial system.
“By providing individuals the means to transact, save, borrow, invest and plan for the future, we will enable them to seize opportunities, weather economic shocks and improve their overall well-being,” he said.
Minister of Finance and Economic Affairs Simplex Chithyola Banda said in an interview on Tuesday that the strategy draws lessons from the successes and failures of past strategies and has been aligned with the Southern African Development Community regional financial inclusion strategy.
“It is the purpose of this strategy to increase financial inclusion in Malawi to support economic growth, create wealth and employment and improve household welfare and resilience,” he said.
The International Monetary Fund (IMF) Financial Access Survey shows that Malawi’s access to formal financial markets and services has risen in the last five years, sustained by non-traditional financial platforms.
The IMF notes that access to finance has changed, with traditional financial access points gradually declining.