By Chisomo Phiri
Minister of Finance and Economic Affairs, Simplex Chithyola Banda, on Friday officially launched the Power of Data initiative, which aims to enhance decision-making and foster innovation in the country.
The extensive program will utilize data to improve decision-making processes, operational efficiency, and drive innovation across various sectors of the economy.
Speaking during the launch Lilongwe, Banda described the Power of Data Initiative as a key tool in assessing sectoral needs, forecasting economic trends, and optimizing resources allocation.
He highlighted three key pillars of the initiative: strengthening data infrastructure, building data literacy and capacity, and promoting greater accessibility and transparency of data.
Banda emphasized that collaboration and participation from all parties involved are essential to the initiative’s success.
He noted that building a data ecosystem that benefits everyone requires collaboration across ministries, departments, agencies, the United Nations family, corporate sector partners, and communities.
The Minister also underscored the program’s significance in improving resource allocation in public and private sectors.
Secretary to the President and Cabinet, Colleen Zamba, appealed for effective collaboration and collective efforts, highlighting data’s integral role in policy-making decisions.
Zamba emphasized the transformative potential of the data initiative in providing valuable insights that could shape future trends and accelerate development.
She stressed the importance of policymakers remaining vigilant and ensuring that policies align with the Sustainable Development Goals (SDGs), focusing on achieving meaningful progress by 2030.
Zamba added that the initiative is expected to be a cornerstone in Malawi’s efforts to modernize governance and create an evidence-based framework for sustainable development.
Commissioner of Statistics Dr. Shelton Kanyanda said Malawi has joined fellow African countries in driving national data partnerships to advance progress across several key transitions that require an integrated approach to investment and programming to accelerate actions on the Sustainable Development Goals (SDGs).
Dr. Kanyanda also disclosed that the National Statistical System, through the National Statistic Office (NSO), is at an advanced stage of developing the successor National Strategy for Development of statistics to address imaging priorities, including data sharing, strengthening information management systems, gender statistics, and environment and climate change statistics.
