Stock market gains momentum after Kwacha’s devaluation

A number of potential companies among other customers are making inquiries to list on the stock market following the devaluation of the Malawi kwacha by 48.18 percent, Operations manager of the Malawi Stock Exchange John Kamanga disclosed.

Kamanga said the devaluation has substantially created the availability of forex in the commercial banks.

He said “the economic reforms by the current administration are boosting business on the local bourse.”

The stock exchange had experienced very little activity in the previous years after most of the potential investors engaged in a wait and see situation following the numerous economic challenges that rocked the country.

At least 15 local companies are listed of the Malawi stock exchange.