Citizens speak out as Malawi's economic woes worsen

Malawi: Many countries all over the world have had a difficult few years. What was expected to be a period of healing and financial recovery after the Covid 19 pandemic hit hard between 2019 and 2021 has turned out to be not only devastating but also a period of ongoing financial hardships.

The Covid 19 pandemic, which slowed travel and halted challenges to exports and imports in various parts of the world, has left many countries around the world in difficult economic situations.

The country has also seen a drop in exports, causing several businesses to close down while others continue to operate in difficult conditions.

Things are also becoming unbearable for small business owners, employees, and citizens in general.

Celina Thomas (not her real name) is a female entrepreneur who runs her small catering business to support herself and her son.

She gets up around 5 a.m. every morning to prepare for her business and plan her day. She makes nsima, relish, chips, and has a mini braai stand outside the small room she rents for her restaurant in Manase, Blantyre.

Celina works hard as a single mother in her business. She makes it a point to show up every day to prepare meals for her clients, who are mostly locals, in order to make ends meet and generate income for herself.

"Every day is a struggle; everything seems to be going up; commodity prices on the market are currently very volatile, making it difficult for small businesses like mine to survive; but I'm still trying," she says.

"The most dreadful thing right now is the price of cooking oil, as well as the market price of potatoes. I can barely afford a bag of potatoes, and I'm finding it difficult to continue making Chips because it appears that I'm losing money rather than profiting,” Thomas expresses her dissatisfaction.

With her prices slightly raised due to the rise in food prices, Thomas says she is only hoping for the best in the coming months as the business is becoming increasingly frustrating.

Gift Banda (real name withheld), a taxi driver, has similar concerns about the country's frustrating financial situation.

"I will continue to push and hope that things improve for our country. Money has little value these days, so we can only hope for the best. We can only hope that things improve quickly," he says.

Banda works as a taxi driver in Blantyre and says things have never been as difficult as they are now.

He sighs helplessly, taking deep breaths and explaining how he is unsure how he will fend for himself in the days ahead.

"I used to believe that this business was ideal and that I would be able to support myself financially, but things are now even more difficult than before. Fuel prices have risen, and the government appears to be doing little to address the current situation on the ground, which is extremely damaging "Banda elaborates.

After nearly a decade, Malawi devalued its currency, Kwacha, by 25% on May 27 this year, owing to inflation and dwindling foreign exchange reserves, as well as declining revenue from tobacco, Malawi's main export.