The Reserve Bank of Malawi (RBM) has unveiled a new National Payments Systems Vision and Strategy Framework (2026–2030), setting out a roadmap to modernise the country’s financial ecosystem.
The strategy represents a national commitment to building a payments system that supports inclusive economic growth and resilience, says Kisu Simwaka, deputy governor (operations) of the RBM.
The framework goes beyond policy direction and aims to ensure the movement of money enables broad participation in the economy, according to Simwaka.
Malawi has made progress in strengthening infrastructure, including the introduction of the Malawi Interbank Transfer and Settlement System in 2002 to improve transaction efficiency.
The new strategy seeks to expand infrastructure and improve affordability for low-income users while strengthening resilience against power and connectivity failures.
Further reforms previously included the rollout of the National Switch in 2015, which linked banks, mobile money platforms and automated teller machines into a unified network.
Despite these gains, Simwaka acknowledged persistent gaps in the system, particularly in rural areas where access to digital financial services remains limited.
The framework prioritises enhanced cybersecurity measures to counter digital threats and promotes fintech innovation to accelerate the transition from cash-based transactions.
Regulatory modernisation and closer regional integration are also emphasised in the strategy, positioning Malawi to align with continental payment systems.
A robust and inclusive payments system is critical to achieving long-term national development goals under Malawi Vision 2063, Simwaka notes.
The RBM expects the framework to guide reforms over the next five years to build a more secure and accessible financial system that supports economic participation across all sectors.
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