Malawi, South East Africa
The Malawi Mining Sector
The current administration in Malawi is implementing a series of sweeping legislative reforms to boost the mining sector and increase its contribution to the country’s economy, including the creation of the country’s first Mines and Minerals Policy. The World Bank and EU are also supporting Malawi as it embarks upon a Mining Governance and Growth Support program, which will provide detailed geological mapping for the country.
- Mining sector historically accounted for 3% of GDP
- Mining sector now accounts for 10% GDP
- The government aim to grow the contribution of mining to 20% of GDP within 10 years
- Eventually, it is predicted that mining will surpass agriculture in contributing more than 30% to the country’s economy
Video: Malawi President Joyce Banda at the Launch of the Mining Governanace & Growth Support Program
Politically and Economically Stable
Malawi was under UK rule until 1964. As a result, the country has a legal system that is similar to the UK and English is widely spoken. It has been a multi-party democracy since 1994. Current president, Joyce Banda, came to power in April 2012 following the death of the previous incumbent.
- Population 16.4 million
- Nominal GDP $4.212 billion
- GDP growth is forecast at 5.5% for 2013 and 6.1% in 2014
- With the exception of 2012, annual GDP growth in Malawi has been consistently higher than the African average since 2008
Routes to International Markets
Despite its landlocked geographical position, there are existing trade routes that link Malawi to Mozambique’s ports on the Indian Ocean.
Seasons and Climate
Malawi’s climate is hot in the low-lying areas in the south of the country and temperate in the northern highlands. The altitude moderates what would otherwise be an equatorial climate.
Between November and April the temperature is warm with equatorial rains and thunderstorms, with the rainy season reaching its peak in late March. After March, the rainfall rapidly diminishes. From May to September wet mists float from the highlands into the plateaus, with almost no rainfall during these months.