Malawi officially the Republic of Malawi, is a landlocked country in Southeastern Africa that was formerly known as Nyasaland has an area of 118,480 sq. km (45,745 sq. mi), of which 24,400 sq. km (9,420 sq. mi). its capital lies in Lilongwe. It is bordered by Zambia, Tanzania to the north and northeast, and Mozambique to the east, south, and southwest.
Malawi is a presidential representative democratic republic with a multi-party system since 1995. The head of state and head of government is President Lazarus McCarthy Chakwera who has served as President of Malawi since June 2020. As of 20,611,209 as of Monday, July 3, 2023, based on Worldometer elaboration of the latest United Nations data.
In the long-term, Malawi Exports are projected to trend around 80379.15 MWK Million in 2022 and 80383.59 MWK Million in 2023, according to our econometric models. Malawi’s main export is tobacco which accounts for 55% of total exports. Others include: uranium, sugar, tea, and coffee
Malawi remains one of the poorest countries in the world despite making significant economic and structural reforms to sustain economic growth. The economy of Malawi is predominantly agricultural, with about 80% of the population living in rural areas.
Malawi’s population is largely youthful with 80% of its population aged below 35 years and with a median age of 17. Malawi’s Jobs for Youth Project is part of AfDB’s Jobs for Young People in Africa (JfYA) 2016-2025 strategy. It seeks to reduce the vulnerability of unemployment in the country. Strategic and multisectoral investments in youth are critical pieces of national growth and development.
The Malawi Growth and Development Strategy (MGDS) III 2017-2022 aims at building a productive, competitive, and resilient nation by consolidating the achievements of the earlier strategies.
Business opportunities in Malawi
Investment opportunities in Malawi include the agriculture, mining, and tourism sectors. Agriculture is the mainstay of Malawi’s economy, with a majority of the population relying on it for their livelihoods. There is a growing demand for food in the country and the region, making it an attractive sector for investors.
