Malawi Stock Exchange courts firms to list
The Malawi Stock Exchange (MSE) has urged the private sector to utilise the market in raising capital to ensure survival and growth amid the Covid pandemic.
In an interview on Tuesday, MSE Chief Operations Manager Kelline Kanyangala said the stock exchange has a critical role to play in recovery of the economy from effects of the pandemic but that will be achieved if companies utilise the platform.
“One of the key issues in the recovery process is infrastructural development and such projects are capital intensive which can be raised through the stock market.
“Also individual companies have been impacted by the pandemic and may be looking for financing which can be raised on the market,” Kanyangala said.
She said the local bourse has in recent years also reaped the most of growth in pension funds in the country.
Recent statistics from the Reserve Bank of Malawi show that pension assets increased to K1.02 trillion, representing 14.7 percent of the country’s gross domestic products by September 2020 from K74 billion in 2011.
It further indicates that quarterly pension contributions are now averaging K27 billion whereas pension assets earned investment income of around K99.7 billion.
Pension members also increased to 466,920 in September 2020 from 73,837 in June 2011.
