Chakwera Defends K500,000 Baby Bank Plan, Calls It a Long-Term Investment in Future Generations
Published on July 22, 2025 at 8:30 AM by Evance Kapito
President Lazarus Chakwera has defended his campaign promise to open a bank account worth K500,000 for every child born in Malawi, describing the idea as a visionary step aimed at producing self-reliant future generations.
Speaking on Monday at Kamuzu Palace during a meeting with youth and women’s rights advocacy groups, Chakwera said the initiative is designed to empower young Malawians by giving them a financial head start when they reach adulthood.
“This is a high-impact idea,” said Chakwera. “The child will only access the money at the age of 18, giving it time to grow through interest. If such a plan had existed 20 years ago, we would already be seeing its fruits today.”
During the event, the president also signed a pledge document from the youth and women’s rights coalitions, reaffirming his administration’s commitment to supporting and uplifting these groups if re-elected in the upcoming September 16 election.
