The Reserve Bank of Malawi (RBM) has unveiled a National Payments Systems Strategy to accelerate the country’s transition to a digital economy between 2026 and 2030, building on gains in financial inclusion and digital transactions.
Speaking during the launch, Deputy Governor (Operations) Kisu Simwaka underlined the shift from cash reliance: “We’ve come from a purely cash-based system to where we now have multiple ways of transacting, including mobile money and card payments.”
Mobile money operators said they are central to this transformation.General Manager of TNM MPamba, Christopher Sukasuka, emphasised their contribution, noting: “About 69 percent of financial inclusion is coming from mobile money.”
Adding on the same, Airtel Money Managing Director Thokozani Santhe underscored the sector’s impact, stating: “Mobile money has really been an enabler with over 8 million users across the country.”
On challenges, Santhe pointed to infrastructure costs.
“We need to work together so that the cost that the customer is incurring by doing a digital transaction also goes down.”
The Central Bank said collaboration will be key to addressing fraud, infrastructure gaps and expanding services to rural areas.
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