The Reserve Bank of Malawi (RBM) has expressed satisfaction with the prevailing economic environment in the country, saying it is conducive for investment.
RBM general counsel and bank secretary Samuel Malitoni said this on Monday at Sunbird Nkopola Lodge in Mangochi during the opening of Financial Services Lawyers Forum aimed at sharing knowledge on various legal aspects affecting the financial sector.
He observed that Malawi Stock Exchange (MSE) has been stagnant in terms of new listings because of the economic performance, which resulted in poor sustenance of macro-economic stability and growth.
“But now we are excited with the rebound of the economy. It is against this background that RBM has taken an initiative of providing information to the public, investing in community and companies to ensure that they list on the MSE,” said Malitoni.
Since 2008 when TNM plc listed on MSE, there has been no new listings.
But instead two companies—Packaging Industries (Malawi) Limited now trading as Nampak Malawi and Real Insurance Company of Malawi Limited now Britam—have delisted on the 13-counter stock exchange.
Malitoni called on lawyers in the financial sector to get acquainted with pieces of legislations governing the sector to better advise their principals or clients on financial matters.
MSE chief executive officer John Kamanga advised lawyers in the financial sector to have in-depth knowledge of MSE transactions to fully advise their companies or clients what is taking place on the stock market to make better investment decisions.