Africa-Press – Malawi. Minister of Finance, Simplex Chithyola Banda, has strongly dismissed as false and malicious the claims circulating on social media suggesting that government plans to devalue the Malawi kwacha by 150% after the elections.
“These are fabrications by disgruntled individuals bent on tarnishing government’s image,” Chithyola Banda said. “The so-called cabinet paper making rounds is not signed, lacks context, and is clearly a desperate attempt to mislead the public.”
The Minister’s remarks follow a similar statement from the Reserve Bank of Malawi (RBM), which recently denied any plans for devaluation. RBM Governor, Dr. Mafuta Mwale, stressed that the central bank’s focus is not on currency devaluation but on stabilising the economy through inflation control and improved foreign exchange supply.
Dr. Mwale noted that inflation has been falling for four consecutive months and highlighted government’s interventions such as maize imports to cushion food prices. He described the rumours as “fake news designed to sow panic” and urged Malawians to pay attention to tangible economic progress rather than fear-mongering.
The document in circulation — falsely presented as a cabinet paper dated August 2025 — claims that President Lazarus Chakwera intends to devalue the kwacha, increase fuel prices by 100%, retrench public service workers, and raise PAYE. Government has dismissed all these allegations as outright lies.
As Malawians prepare to cast their votes on September 16 for President, Members of Parliament, and councillors, analysts warn that such fake news is a deliberate ploy by opposition elements to manipulate public opinion and erode trust in government.
Officials maintain that Malawi’s economic recovery efforts remain on track, and that spreading baseless rumours of massive devaluation is not only irresponsible but also a direct attack on the stability of the nation’s financial system.
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