During the first 2020 Monetary Policy Committee (MPC) meeting, the Reserve Bank of Malawi (RBM) announced that private sector credit for 2019 went up 11.5%, registering an impressive 21.3% increment.

RBM Governor Dalitso Kabambe outlined that the 13.5 interest rate brought stability in the country as commercial banks have for a great part of the year also maintained their lending rates.

A statement summarizing the MPC gathering also notes that apart from the tradition borrowers, notable expansions were observed in energy and mining sectors. Meanwhile Kabambe outlined that should credit to the private sector remain stable, the country will see businesses expanding, jobs created, more output realised and more wealth created which will reduce poverty.