Africa-Press – Malawi. PayChangu, Malawi’s homegrown digital payment gateway designed to simplify and secure transactions, has welcomed its nomination for the “Top Invest in Malawi” recognition, describing it as more than an award but a strong validation that the country’s e-commerce ecosystem is evolving and local innovation is gaining high-level recognition.
PayChangu Chief Operations Officer, Joshua Mwendo, said in an interview on Wednesday that the recognition reflects the growing impact of the platform across Malawi’s digital economy.
“This means a lot. It shows that what we are doing is being recognised and that it is having an impact on Malawi’s e-commerce ecosystem. It also shows that Malawi has a future and that we are moving in the right direction,” said Mwendo.
He said the company’s growth from a startup to a major fintech player serving over 10,000 merchants has exceeded initial expectations.
“We did not expect to reach this level so quickly. We now have over 10,000 merchants using PayChangu across different sectors, including government, NGOs, the private sector, and SMEs. The response has been tremendous, and we are encouraged by the progress,” he said.
Mwendo noted that the growing client base demonstrates increasing trust in locally developed fintech solutions, with both public and private institutions adopting the platform for payment processing.
He further said the nomination also reflects a broader policy shift in support of innovation and digital entrepreneurship in Malawi.
“Innovations like ours are now being recognised by government, and there is a clear effort to encourage local innovators. This means a lot not only to me and my company, but to the wider innovation ecosystem,” he said.
PayChangu has since expanded its operations, opening a second office in Blantyre to complement its headquarters in Lilongwe. The company says its teams are currently focused on system upgrades and developing tailored solutions for businesses still relying on traditional payment collection systems.
Mwendo explained that part of PayChangu’s early growth challenge was market education, as many users were familiar with mobile money platforms such as Airtel Money and TNM Mpamba, but not payment gateways.
“Most people understand Airtel Money and Mpamba, which are payment methods. PayChangu is different. It is a payment gateway that integrates these systems into one platform for businesses,” he said.
He added that the platform enables businesses to receive payments through multiple channels with a single integration.
“That one integration gives businesses access to mobile money platforms, bank payments, and international card payments such as Visa and Mastercard from markets including the US, UK, China, Australia, and France,” he said.
Mwendo further explained that PayChangu also facilitates settlement of funds, including foreign currency, directly into merchants’ foreign currency denominated (FCD) accounts, reducing reconciliation challenges for businesses.
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