Standard Bank Malawi has expressed interest in strengthening collaboration with the Ministry of Labour following a courtesy call made on the Minister of Labour, Hon. Joel Chigona, MP, this morning.
Led by Public Sector Manager Mwayi Kamwendo, the bank’s delegation discussed potential partnerships aimed at enhancing skills development and supporting young people entering the world of work.
The talks centred on how the financial institution can complement government efforts in empowering TEVET graduates and strengthening technical training institutions across the country.
Kamwendo and Chigona
During the meeting, Hon. Chigona urged Standard Bank to consider establishing start-up loan facilities tailored for TEVET graduates. He emphasised that many skilled young people struggle to progress in their trades due to lack of capital.
“Our job market cannot absorb everyone. Loan facilities would enable our graduates to grow and excel in their respective trades,” he said.
The Minister further appealed to the bank to support technical colleges that are fully constructed but not yet operational, suggesting that the provision of essential training equipment through Corporate Social Responsibility (CSR) initiatives would help unlock their potential.
In response, Standard Bank assured the Ministry that it will assess the proposed collaboration areas. The bank expressed willingness to explore support programmes in entrepreneurship development, graduate internships, and the rollout of its Financial Fitness Academy a programme designed to enhance financial literacy and foster a culture of savings and investment among youth.
The meeting marked a promising step toward strengthening public private partnerships aimed at empowering Malawi’s future workforce.
Minister of Finance, Economic Planning and Decentralisation, Joseph Mwanamvekha, has announced that the government has implemented measures to address the root causes of food insecurity in Malawi.
He made the remarks in Lilongwe when Press Corporation handed over K300 million to the government to support its Lean Season Food Response Programme.
Mwanamvekha explained that the government is planning to scale up irrigation and provide subsidized farm inputs, among other initiatives, to build the resilience of households affected by food insecurity each year.
He commended Press Corporation for the support, emphasizing that partnerships between government and the private sector are critical in addressing national challenges.
The Minister assured Press Corporation that the funds will be utilized transparently and efficiently to meet the intended needs of vulnerable communities.
Board Chairperson of Press Corporation, Randson Mwadiwa, said their contribution underscores the importance of collaboration to strengthen the country’s resilience and capacity to overcome climate-related challenges.
Mwadiwa reaffirmed Press Corporation’s commitment to safeguarding the wellbeing and dignity of Malawians through interventions such as this.
The K300 million donation from Press Corporation is in addition to a similar contribution made by National Bank, bringing the total support for the Lean Season Food Response Programme to K600 million.
This partnership between government and private sector actors is expected to enhance food security, reduce vulnerability during lean periods, and strengthen community resilience against climate and economic shocks.
The government and its partners continue to call for sustained collaboration to ensure that Malawi can effectively address recurring food insecurity challenges.
Bashir Sharriff and Sheila Chinkhandwe were crowned champions in the men’s and women’s divisions respectively; at the inaugural National Bank of Malawi plc (NBM) Seniors Golf Competition held at the Country Club Limbe on Saturday.
With a handicap of 20, Sharriff topped the field with a gross score of 90 and a net 70 points, earning him K200,000 and the trophy.
He was followed by NBM plc Pension Administration Limited (PAL) Chief Executive Officer (CEO), William Mabulekesi, who returned a gross of 84 and a net of 70 points to claim K150,000, while Mac Hanjahanja finished third with a gross of 87 and a net 71 to walk away with K100,000.
In her category, Chinkhandwe led with a gross score of 108 and a net 85, earning her K200,000, followed by Khungekile Madise who posted a gross of 124 and a net 89, receiving K150,000.
The tournament also recognised specialty performances, with Hanjahanja winning the nearest-to-the-pin prize and High Court Judge Justice Masauko Msungama taking the longest-drive award.
They both received K50,000 for their achievements.
Reflecting on his victory, Sharriff expressed his appreciation to NBM plc and his playing partners for a memorable day on the course.
“I have been playing this game for about 45 to 48 years. Today, I had the privilege to play with the sponsor, and I enjoyed my day on the course. I scored 45 on the front nine and 45 on the back nine. With my handicap of 20, I ended up with a net score of 70, which made me the winner of this National Bank Seniors Championship today,” said Sharriff.
Chinkhandwe, while celebrating her win, also encouraged greater participation of senior lady golfers.
“Only two ladies participated, which I found really disappointing. There are many senior lady golfers in Malawi, but for different reasons, most were unable to attend. I hope that next year we will have more women joining the competition,” said Chinkhandwe.
Speaking on the motivation behind NBM plc’s sponsorship, Mabulekesi, stressed the Bank’s commitment to wellness and active ageing.
“The National Bank takes the well-being of people seriously. We established the Wellness Programme to encourage physical activity and help people unwind from stress. When we looked at the Senior Golfers Society of Malawi, we saw retirees who needed a space to remain active, interact, and build bonds. Participating in golf keeps them physically fit and mentally engaged, helping them manage conditions like hypertension, high blood pressure, diabetes, and dementia,” said Mabulekesi.
Chairman and Captain of the Senior Golfers Society of Malawi, Eric Chinkanda, applauded NBM plc for its support of the event.
“One of our key challenges is securing sponsorships for our exclusive tournaments. Reaching out to corporate entities has been difficult, but in Blantyre we have received support from a few organisations, with the National Bank being one of the notable sponsors,” said Chinkanda.
The event was supported through a K11.2 million sponsorship package from NBM plc, which included cash prizes and golf apparel, further demonstrating the Bank’s commitment to sport, wellness, and community engagement.
The Walkers Social Club, a group of diverse professionals who walk every Saturday morning, will, in collaboration with the Queen Elizabeth Central hospital (QECH) Children’s Cancer Ward conduct a fun walk to raise funds for children suffering from cancer at the referral hospital.
Paediatric Oncologist at QECH Dr Beatrice Chikaphonya Phiri said in an interview yesterday that they decided to partner with The Walkers Social Club for the fun walk since the group is well established and can help them raise money for the Cancer Children’s ward.
Chiwawa Msimuko-Madise
The fun walk will be held from 6am on Saturday 6 December from QECH via Masauko Chipembere Highway up to Chichiri Roundabout and back to QECH.
“We believe our partnership with The Walkers will yield intended results. We have not restricted this to the Walkers Social Club members only, but anyone who is free to participate can do so or can contribute to this cause. Little innocent children are suffering because of Cancer and we need to step up and help,” said Chikaphonya Phiri.
She further said the Children’s Cancer Ward has a dedicated team who serves both in- and out-patients in the 34-bed ward and also runs outpatient clinics daily and diagnoses about 250 children with cancer annually.
“This year we would like to raise awareness of childhood cancer, encourage coordinated action, advocate for improved access to care for children with cancer and overcome the challenges and inequalities encountered by the children with cancer, their families and the healthcare personnel looking after them.”
“These challenges include; shortage of essential equipment and drugs, delayed diagnosis and treatment abandonment which is largely due to the financial burden on the families, poor access to amenities and support, and lack of awareness on childhood cancer. We sincerely request any generous support to address the various material gaps impacting delivery of quality of care for the children in the Children’s Cancer Ward at QECH,” said Chikaphonya Phiri.
The Walkers Social Club Coordinator Chiwawa Msimuko-Madise said they feel humbled to partner QECH to raise funds for the Children’s Cancer ward saying this is one of their objectives.
“As the Walkers Social Club, one of our objectives is to promote wellness, community engagement, and charitable impact through walking and social events and this partnership provides that opportunity to raise funds so that we can help our children and the Cancer ward.”
“We have encouraged all our members in our various chapters in Zombo, Thyolo, Lilongwe, Salima and Mzuzu to take part in the fun walk and raise funds. We are also appealing to others who are not in our group but would want to help to this cause to do so,” said Msimuko-Madise.
She challenged the Walkers to increase the distance of the proposed route to raise more funds.
Chikaphonya Phiri said participants to the walk are expected to pay a minimum registration fee of K5,000 and those who would want to support in cash can do so directly to the following account; QECH Children’s Cancer Ward, National Bank of Malawi, Top Mandala Branch, account number: 1013370897.
The global gold market, valued at USD 291.68 billion in 2024, is projected to grow from USD 308.32 billion in 2025 to USD 457.90 billion by 2032, with a CAGR of 5.80%.
Gold is prized for its luster, conductivity, and resistance to tarnish, making it essential in jewellery, electronics, dentistry, and as an investment hedge. With the Asia Pacific region leading demand, Malawi’s untapped gold reserves present a significant opportunity.
Malawi’s gold sector holds significant potential. As part of the Agriculture, Tourism, and Mining (ATM) Strategy, boosting gold production and exports could drive economic growth, create jobs, and enhance revenue. Transparency will be key to unlocking this resource, aligning with Malawi’s 2063 Vision. With the new government focusing on local mineral processing and aligning with the African Mining Vision (AMV), the future looks bright.
But how can the country capitalize on this growing market?
BOOST SUPPORT FOR ASMs
It is no secret that Malawi produces a significant amount of gold, though serious attention from the authorities has only begun in recent years. To fully unlock this potential, the country must boost support for Artisanal and Small-Scale Miners (ASMs) the backbone of Malawi’s gold sector.
Malawi’s gold industry is dominated by ASMs, yet limited support has left most miners under-equipped and operating informally. To maximize production, promote formalization, and curb smuggling estimated to cost the country over $85 million annually,government intervention is essential.Providing access to finance, modern equipment, and technical training would increase output, encourage miners to formalize, and strengthen regulatory compliance.
Gold is currently mined in several districts across the country, including Lilongwe, Kasungu, Mangochi, Machinga, Nkhotakota, Ntcheu, Nsanje, and Nkhata Bay, highlighting the mineral’s wide geographic spread and national economic potential.
SCALE UP BUYING AND EXPORT
The Reserve Bank Of Malawi (RBM), empowered under Section 28(b) of its Act, began buying gold through Export Development Fund(EDF) in 2021 with a target of 1.5 tons by 2025. However, only 540 kg (~$70 million) has been acquired so far.
According to RBM, its current gold stock consists of assayed gold bars processed at around 95% purity, with plans to refine them to the monetary gold standard of 99.9%.
EDF has also significantly increased its gold purchases in 2025. It is important to monitor how this affects miners including whether EDF provides any technical, financial, or capacity-building support to gold dealers and miners participating in its program. To enhance accountability and generate additional revenue, the government could require all gold dealers and miners trading with EDF to hold a PPDA certificate, as is standard for other government suppliers.
While building national gold reserves is important for long-term stability, Malawi’s immediate priority should be maximizing gold exports.
For example, the country could plan to start exporting gold from the first quarter of 2026 at around 100 kg per month, with the target reviewed every six months. Achieving this level of verified exports worth over $10 million monthly would strengthen forex reserves, stabilize the kwacha, support essential imports, and stimulate economic growth.
EDF/RBM BUYING STRATEGY — KEY RISKS AND THE NEED FOR INTERNATIONAL STANDARDS
EDF is currently buying gold at about MK400,000/gram, far above the international price, making Malawi one of the highest gold buyers in the world. The current gold price is around $4,054.88 per ounce or $130.35 per gram, as of November 23,2025. Experts warn this could lead to major financial losses, market distortion, strain on forex reserves, and attract smuggled gold from neighboring countries.
For EDF and RBM to operate efficiently, they must be guided by international standards set by the World Gold Council, World Jewellery Confederation – (CIBJO) and Responsible Jewellery Council (RJC).
Alignment with these standards is critical as it improves transparency, strengthens governance, builds investor confidence, prevents market abuse, and ensures Malawi’s gold meets global credibility and competitiveness benchmarks.
STRENGTHEN GOLD AUTHENTICATION
Fast-track the procurement of an Independent gold Assessor, as advertised in January /February and re-advertised with reference RBM/FM/01/25.
The goal is to ensure transparency, verify the authenticity and weight of purchased gold, and align with best practices.With rumors of over 50kg of counterfeit gold bought by EDF in 2023, this step is urgent. Proposals were due by April 15, 2025, but it’s been over 7 months with no public update time to push for progress and transparency.
Given the limited number of local gold experts, Malawi Government should invest in training and capacity building, leveraging international partnerships to equip professionals with skills in gold authentication, grading, and market standards
ESTABLISH LOCAL PROCESSING
The RBM and EDF in collaboration with Department of Mines , Mining and Minerals Regulatory Authority (MMRA) and MAMICO should set up a local gold processing and refining plant, or partner with established regional refineries in Southern Africa. While the RBM has been buying gold since 2021, the absence of a clear refining strategy remains a concern.
Recently, through spokesperson Boston Maliketi Banda, RBM noted: “Meanwhile, we are exploring refining options within the region… We do not know of a gold refinery that would purify the purchased gold to monetary gold standard.”
It is time to move beyond exploration. Establishing a local refining facility would add value to Malawi’s gold, reduce export costs, and enhance transparency in the sector. Beyond financial benefits, local processing would create skilled and semi-skilled job opportunities, promote technical capacity development, and stimulate ancillary industries such as logistics, security, and equipment maintenance. A domestic gold refinery would also strengthen the entire value chain, ensuring that Malawi captures a larger share of the revenue from its natural resources.
IMPROVE TRANSPARENCY AND REPORTING
Malawi should strengthen the collection and publication of accurate gold production, export, and pricing data. Clear and verified statistics build investor confidence, support responsible mining, deter smuggling, and ensure fair market practices. To operate efficiently and gain credibility in global markets, the sector must adopt international standards, aligning with bodies such as the World Gold Council, CIBJO, and RJC, which further enhance transparency, governance, and competitiveness.
LEARN FROM NEIGHBORS
Malawi can learn from neighboring countries such as Zimbabwe, Tanzania, Zambia, and Mozambique, which are generating billions of dollars annually from gold, most of which is mined by artisanal and small-scale miners (ASMs). Adopting best practices in policies, training, and traceability systems for both gold and gemstones would help Malawi compete regionally and maximize its mineral wealth.
CONCLUSION
Malawi’s gold sector holds immense potential, but much of it remains untapped due to limited support for artisanal miners, underdeveloped infrastructure, and gaps in governance and market regulation.
By boosting ASM support, strengthening authentication, scaling exports, establishing local processing, improving transparency, and aligning with international standards, Malawi can transform its gold industry into a significant driver of economic growth.
Learning from neighboring countries and adopting global best practices will ensure that gold mining benefits both the national economy and local communities. The path is clear,addressing these challenges can unlock Malawi’s gold wealth and secure a more prosperous future.
