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VISA REMOVAL TO BOOST FOREX – MADINGA

The government’s decision to heed calls for the removal of visa restrictions into Malawi will help the country increase inflows of foreign currency, Chief Executive Officer of Standard Bank Plc, Phillip Madinga has said.

Madinga, whose bank has been advocating for the relaxation of the visa requirements described the government’s decision as timely as the country continues to devise strategies to increase forex inflows.

“The development will help Malawi become an attractive tourism destination and boost foreign currency flows in the long term,” he said.

US Dollar: One of the most sought after foreign currencies.

Removal of visa restrictions is one of the bottlenecks identified during the bank-led Business Leadership Round-Table, a forum where government, regulatory agencies, donors and the private sector meet to discuss policy reforms.

Home Affairs Minister, Ken Zikhale N’goma, announced the removal of the entry restrictions in a gazette published on Wednesday.

The gazette indicates that the government has lifted the restrictions for 48 countries including the USA, United Kingdom, Germany, France, Australia, China and Russia which are considered key source markets for international tourism and business arrivals into Malawi.

Visa not required in 48 countries including the USA & UK.

The visa exemptions also apply to all SADC and COMESA member states, including some multilateral institutions that do business with the Malawi Government.

Watch the video below  to see the full list of countries.

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