The Malawi Stock Exchange (MSE) and National Planning Commission (NPC) have underscored the importance of the stock market in realising economic development aspirations embedded in Malawi 2063, a long-term national development blueprint launched recently.
The vision aspires to make Malawi an inclusively wealthy and self-reliant nation by 2063 and hit middle-income economy status by 2030.
This is contained in the MSE 5th Magazine which details some major developments the stock market undertook last year.
According to the local bourse, achieving these aspirations will, to a great extent, depend on ability of the country’s financial system to provide long-term finance to support development projects.
“The financial sector will have to play its rightful role of efficiently mobilising and allocating domestic financial resources from surplus sectors of the economy to those that can put them into productive use,” reads the report.
The nation aspires to be an industrialised upper middle-income country which finances its own development needs.
NPC Communications Specialist Thom Khanje said in an interview that the local bourse accords Malawians a chance to create sustainable wealth by investing in listed companies among other avenues.
Khanje said the market should, however, increase awareness in peri-urban and rural areas to widen its investors’ base.
“They have to embark on awareness and, in these days of mobile phones, they can partner with telecommunications companies such as Airtel and TNM to create a facility where people can buy shares even using mobile phones,” he said.
As one way of creating awareness, the MSE has created a WhatsApp platform where potential investors can learn about investments.
MSE Chief Executive Officer John Kamanga said in an earlier interview that they would engage other awareness means to increase investors.
The stock market currently has 16 counters where people can buy shares for as low as K12 per share.
Justin Mkweu is a fast growing reporter who currently works with Times Group on the business desk.
He is however flexible as he also writes about current affairs and national issues.