Africa-Press – Malawi. Standard Bank Plc has welcomed the new administration’s commitment to restoring economic stability, predictability, and strong governance, describing the move as a critical step toward rebuilding investor confidence and national growth.
Speaking on the sidelines of the Presidential Inauguration Ceremony at Kamuzu Stadium in Blantyre, Standard Bank Chief Executive Officer, Phillip Madinga, said the bank is ready to work hand in hand with government and other key stakeholders to help implement President Arthur Peter Mutharika’s plan to tackle the country’s pressing macroeconomic challenges.
“Attracting foreign direct investment from key economies such as the United States and China, as outlined in President Mutharika’s inauguration speech, is crucial to unlocking Malawi’s growth potential and achieving meaningful recovery,” Madinga said.
He also commended the President’s determination to renew diplomatic relations with the United States, saying his special friendship with U.S. President Donald Trump could pave the way for stronger economic and trade ties.
“Easing diplomatic hurdles with the U.S. should set the stage for dialogue aimed at finding lasting solutions for Malawi’s economy, trade, and diplomatic relations,” he added.
Madinga noted that the loss of development and technical assistance following USAID’s departure had negatively affected the country, emphasizing the need for renewed engagement and open dialogue to explore sustainable solutions.
The Standard Bank CEO further highlighted the importance of a strong public-private partnership during the next three months of the government’s transition period, describing it as a crucial window to re-set the country’s economic trajectory.
“Malawi must now reaffirm its resolve to restore stability through fiscal discipline, good governance, and meaningful dialogue with bilateral and multilateral donors and creditors. The foundation for a stronger, more resilient economy must be laid now,” Madinga concluded.
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