Malawi ranked 8th poorest in Africa, World’s fastest growing consumer

Malawi has been ranked as the eighth poorest country on the continent and the fastest growing consumer market in the world .

Malawi fastest growing conumer and eigth poorest in Africa - Photo by Amos gumulila, getty images

Malawi fastest growing conumer and eigth poorest in Africa – Photo by Amos gumulila, getty images

Richest Lifestyle, a publication that is dedicated to the lifestyle of celebrities, rich and fabulous people around the globe, as of 2004, 54 percent of Malawians lived under the poverty line on less than $1 (about K460) a day while the country is faced with the shortage of foreign exchange, leading to its failure to pay for some imports.

In another report, Euromonitor found after analyzing markets by expected consumer expenditure and annual real growth this year that Malawi is fastest world growing consumer.

Consumer spending iis set to grow 18.2 percent year-on-year in 2014, the report said.

Malawi’s total consumer expenditure will likely reach $5.6 billion by the end of this year, translating into spending of only $335 per capita, the research firm said.

The growth may be fast, but Euromonitor analysts cautioned that such a low level of spending inevitably limits business opportunities.

Furthermore, finding ways to invest in Malawi can also be challenging, as barriers to investment include a shortage of foreign exchange and poor infrastructure.

“In the short term, consumer market growth in Malawi will be supported by the country’s improved economic performance (which will help to raise incomes) and slowing consumer price inflation (which will raise consumer demand),” Euromonitor said.

Last year, another report ranked Malawi as the second world’s worst performing economy, according to ranking by the International Monetary Fund (IMF) which rates countries by at least one measure.

President Peter Mutharika, speaking during his inauguration said government will take a bottom-up approach that involves and directly benefits ordinary people.

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36 thoughts on “Malawi ranked 8th poorest in Africa, World’s fastest growing consumer”

  1. Yusuf says:

    I think MALAWI is now giving hope

  2. Koma ma politicians zawo zikuyenda koma enafe tidikire ufumu ukudzawo

  3. Angoni says:

    We r nt poor infact we r rich coz we r de fastest consumer. To b a consumer it means we have resources dat we exchange for something such fertilizers,cloths cars,food etc. The more we consume=the more we produce, in this scenario we cannot b the fastest consumers if we produce less.all in all for us to realise dat we rich we nid sit down and reduce imports for luxuries, this is so coz outsiders get little from us and we get more from dem as such we make dem rich.what am saying is we nid concetrate on using locally available resources for development.

  4. Kadakwiza says:

    Yes, Malawi is one of the poorest country in Africa. Why? (1) Because northerners I mean ( these Tumbukas) were not given a chance to rule or lead the country. (2) Because of Kamuzu dictatorship style. (3) Because of corrupt and selfish leadears as from Day one back in 1964. (4) Because Malawi don’t need donors but investors, (5) Because Malawi is not govern by the minority

  5. Malawi Patriot says:

    We can change this if we start appreciating what politics is and what it entails. Politics is not about being in state house to abuse resources and allow other people to benefit without looking at a bigger picture of the nation. Next time let us all vote wisely bearing in mind the facts we have on the ground.

  6. mafiloe says:

    you must no that there z a very big gap between the poor and the rich so how can u expect the country to develop in this way. it doesnt mean that Malawian r lazy they r hard workers bt the problem they lack suport 4 example lets go to fertilizer subsidy program the aim of that program was to help those who cannot manage to buy fertilizer at its original price bt u will agree with me that most of the people who manage to buy this fertilizer r rich people jst becoz they hoave got much money. how can u expect the country to develop in this way its imposible.

  7. Anonymous says:

    i dont care whether Malawi is poorest in the world what what i care is that we will all die at the end of the day, answer me if rich countries people they dont die, one thing i like in this life is that whether you eat expensive food and another eat common papa or nsima we both full in our stomach, you are educated am not educated to me its the same we all chasing the wind, and please do me afavor stop annoucing that Malawi is poor, when you say is poor who do you compare with we are not in cimpetetion Bingu was right chasing you people we dont need you charitable funds its alluminate devil worshipers so called Unicef, WHO, USAID, UN you can have all the kind of money you have as long as we are breathing stupit Americans or whoever wrote this article am very angry, NOTE you can have all type of money but i dont eat at your house so stop annoucing our poverty, we not poverty we are rich in Spirt of God Almighty the Father of the whole universe

  8. shangingo says:

    This is very pathetic and indeed the situation on the ground shows that we are a damn poor nation. But let me emphasise the fact that our nation is not doomed in terms of resources , in fact it is one of the most blessed but our mind set or rather mentality has let us into this kind of a mess. We have always had greedy leaders who do not put the welfare of the people at heart instead they misplace priorities . Billions & billions of Tax payers & donors funds are circulating in the hands of a few privileged & selfish individuals , who do not even think of investing the money into businesses that may create job opportunities to others. But instead billions of kwacha are being invested into mansions which are not even used by these children of the devil. Perhaps if we could invest most of our money into farming industry and then create more food processing industries to produce good quality product for export, this cud have helped . But the people in authority are busy spending the hard earned money on trip allowances , very sad. God have mercy on Mother Malawi.

  9. Achimidzimidzi says:

    Mr Reporter, I like the point where you say,”barriers to investment include shortage of foreign exchange and poor infrastructure.” I think our priorities are not in order.

    Some of these people have tarmac roads up to their door step and had built mansons in their village and then the University which was to be built in Lilongwe is in their farm. However, some areas where investors can put their money have earth ungraded roads all the year, rightaway from the DC’s office to Capital Hill, except MI road.

    Whatever, people will say, let them use the infrastructures in their areas and when they die, they can take the mansons and the university with them to the world of the died. I will also go as poor as I am and we will meet there.

    I cannot sympathise with crooks unless they regard us as fellow Malawians.

  10. chinambalala says:

    The country is not poor, we have all the resources but we have GREEDY leaders who always enriches themselves. Its the pple who are poor!!

  11. masa masina says:

    we are not a producing country but only a consuming nation. We play bawo all day and expect a meal at the end of the day. We want good jobs and yet do not work hard in school. We are busy building churches, mosques instead of building schools, colleges. We want to get rich through miracles instead of working hard. The Gods wont develop this country for us. This country can only develop if we work really hard in whatever we do.

    1. jimbo says:

      Masa Masina you have hit the nail on the head. Churches and mosques benefit nobody. Often the finest building in a community is a church while the people around are living in miserable houses with no sanitation, water supply or decent roads. What is God doing for those people? How are all their prayers and hymns in church benefiting them? Leave God out of it and get working hard to improve your lives.

  12. Chipwilikiti says:

    What Malawians know is kukwata ndi kubeleka basi .I think we don’t deserve to live on this planet, may be at Mars, just thinking aloud.

  13. masa masina says:

    we are not a producing country but only a consuming nation. We play bawo all and expect a meal at the end of the day. We want good jobs and yet do not work hard in school. We are busy building churches, mosques instead of building schools, colleges. We want to get rich through miracles instead of working hard. The Gods wont develop this country for us. This country can only develop if we work really hard in whatever we do.

  14. Ma says:

    True nothing knew for me as a country we compete on even phones, cars, suits etc no culture of savings. .we even buy suits on loans, cars loan, phone loan, furniture loan , house loan no wonder they are biggest consumers. ..they don’t live within means but want to show off always. …kkkkkk ku account nothing no balance…he he he! !!

  15. zedediya says:

    We will remain as such unless we change our mindset. We need some sought of dictatorship to push our lazy minds to work. We have the worst civil service with no performance measures. Think of the inefficiencies at government departments like Road Traffic and Immigration just to mention a few.We also need a strong political will to overhaul the country’s infrastructure to make it good for investments. Our construction and transport system should be regulated by government to meet standards, etc. But all this is my fantasy as it is almost impossible with the corrupt nature of our minds

  16. Livulezi river says:

    Tidzingolira muno nthawi zonse because instead of govt setting up rules of our country to foriengers & these crooked Indians, its them (Indians) who are dictating things to us what to do simply because they have monies!!!! Za utsiru zeni zeni!!!!!!!!!!!!

  17. i hope since we have a learned president with a phd we will see better things in malawi

  18. Livulezi river says:

    In marketing, we call it a recipe for disaster! Even in one’s home, if you spend more than what you get, you are destined for a doom!! We are in this trap deliberately by govt. This started during Muluzi era whereby he thought of today only forgetting about tomorrow. How could he ( Muluzi ) sell David Whitehead & Sons for a song to Mapeto? Mapeto instead of turning the company into a formidable force, he then lowers it down with the aim of promoting clothes from his motherland India. He then turned half of the factory bulidings into motor vehicle tyres warehouses. It’s high time govt scrutinize these Indians businesses properly so as to ascertain their eligibility. Apo biiii, tidzingolira muno nthawi zonse because of our govt setting up rules of our country to these crooked Indians, its them who are dictating things to us simply because they have monies!!! Za utsiru zeni zeni!!!!!!!

  19. we malawians are destroying our country,speeking bad of the country insteady of working together u r the ones who go to other nations about ur nation.Despite having ranked 8 poorest,spiritually is no. 1.Someone can live in richiest natiom but spiritually ranked zero.Lets continue praying hard so that we shall win in heaven but the losers on earth.May almighty load bless ur people and give us hope in the name of Jesus christ.

  20. Newborn. says:

    No need to be PANIC.

  21. Mtupatupa says:

    That’s the badness of democracy! If one does or say a word, people are free to analyse and come up with what he meant, if the whole Minister brings the motion of : 1 Antfeiting, 2 injunction and empowering the a certain minister to ban a radio, or any publication, what is that? If the ruling party cadles are moving with pangas in the streets in broad daysunshine, critics houses are torched to ashes, what was/ is that? People have to voice out, even in Egypt, when the Israelis were crying, their voices riched heaven for God interventions

  22. The Patriot says:

    One will always reap what one sows! In Malawi our leaders are just good at giving themselves, wives or kin heft allowances but no development agenda! We are the laughing stock of the world, we are ranked at the bottom together with war torn countries! In fact we are a war torn country too, wars between regions and tribes! No shots fired but as one can see, the bombs of marginalization and nepotism keep on exploding every day hindering development! Every tribe now wants its own grouping , borrowing a tribalistic leaf from the most well financed and government connected tribal grouping on the land, you know them!!

  23. Citizen 'O' says:

    Mr. Dying Breed;
    Does a rich country survive on aid? You are not serious. The problem Malawi has is that it doesn’t manufacture anything right from toothpicks to aeroplanes. A country as miserable as this can’t develop.

    If you read your history books you will discover than as far back as 1000 AD, our forefathers had vibrant iron-smelting, salt-making and textile industries. But today, almost 1000 years later, all these industries have collapsed due to our dependence on the West. Imagine that we are even importing dirty second-hand underwears. Should somebody be day-dreaming that we were developed five years ago? Search me!

  24. petrol kali says:

    paul mphwiyo ukumva zimenezi!!!!!!!!!!!!!!!!!!!!!

  25. Concerned says:

    The figures below tell a different story, that Malawi is third from the bottom worldwide. See the complete table at: http://data.worldbank.org/indicator/NY.GNP.PCAP.PP.CD/countries?display=default

    GNI per capita, PPP (current international $)

    Country 2009 2010 2011 2012 2013
    Centr. Afr. Republic 830 880 910 950 600
    DRC 560 590 620 660 680
    Malawi 680 710 730 730 750
    Burundi 690 710 730 750 820
    Liberia 540 580 670 730 790

    Comparing nominal GNI puts it almost at the bottom: http://en.wikipedia.org/wiki/List_of_countries_by_GNI_(nominal,_Atlas_method)_per_capita

  26. mpalestina vyankhanthu says:

    dzenje timazikumbira tokha aMalawi majerasi tho, koma akabwera wakunja eeee kunjenjema ngati tawona zodabwitsa aaaa kaya

  27. Zi says:

    im not surprised at all. On the infrastructure point. I can’t believe how our international airport look both in the air and after landing oh my God. Its the smallest and angriest inter airport I hv ever seen. Just go to our neighboring countries. .zambia. Mozambique. DrC etc. Don’t tell its because we have no minerals etc. Hw about using the long term grants from china to build a new airport in Lilongwe instead of using the same money building a stadium. Like really if we want investors to jet in lets start with where they land. Mr president should do something about this. Chinese would build a state of the art airport within a blink of an aye. They are doing it in other african countries why can’t our leader convince them. They are taking lots of money here. Building an airport wouldn’t be a big deal. That’s what I would do if I was one of the leaders

  28. Kalulu says:

    It is number 8 – why Bangwe residents stay for 5 months without water I do not understand. Interestingly people are quite letting the Mayor shout about clean the city campaign and the MP do his medical shop. Please Bangwe residents work up and do something that must tell Malawi that something is wrong at Bangwe. Otherwise you will suffer in silence.

  29. MADALA TEAM says:

    MALAWI IS POOR COS OF THE SO CALLED CASHGATERS OTHERWISE THIS COUNTRY CAN DO MUCH MUCH BETTER IF THESE CASHGATERS CAN BE TAKEN TO BOOK ONCE AND FOR ALL !! MALAWIANS ARE HARD WORKERS BOTH MEN AND WOMEN BUT FEW INDIVIDUALS MAKE US SUFFER !! MAY GOD HELP US !!

  30. nkhedu says:

    pa eight ndiye bolatu nanga potha zaka 5 zikubwerazi? tiyeni tizingomwa bibidayu basi osati kumanamizanapo apa kuti awa atukula malawi,za zii! mbava zokhazokha

  31. MADALA TEAM says:

    HOW CAN A COUNTRY DEVELOP WITH A FEW SELFISH PEOPLE SIPHONING MONEY FROM GOVERNMENT COFFERS WHICH IS INTENDED TO DEVELOP THE COUNTRY ???

  32. Gunz says:

    I have problems with the bottom up approach, of course also with the top down approach. My take is the bottom are too poor almost all there life, less skilled to have high efficiency and productivity necessary to change the fortunes for Malawi. The top is greedy and encourage inequality. We should however concentrate on the middle class. Highly innovative, better skilled and efficient. Most of them have many dependants for survival, school fees and the like. The benefits would easily passthrough to the bottom. Why should we commit the little we have to more consuming, less productive ppo limited by their skills level when we can put our resources to the more productive, innovative, investing middle class.

  33. Dying Breed says:

    Because when we start doing well, you the same Malawian writers and your bed fellows…you went up to UN claiming that we have the worst human rights record!!! Thereby requesting the donor community to suspend aid to this country. You even carried out stories brandishing them on the front pages that Malawi is not a good destination for investors!?…scaring them away letting the go to even war-torn DRC, Politically unstable Moza, etc etc condemning this country as a failed state and yet you know it has so far made so may strides despite having no major natural resources like Sea ports or minerals. All that bad publicity because you or your aunt has not been picked into cabinet??! Shame on you publishers of exaggerated and scaring stories.

    1. Wakwithu says:

      Dying breed should know that donors or investors do not only rely on articles published by journalists for information. They have other sources. For example, the Americans have United States Information Office while the British have the British Council. They carry out their own investigations before taking any action. When you tell them lies they know it. They can also buy information from high ranking officials using their spy agents. So please stop blaming the Malawi media or anybody for investor drought. They know we have unreliable power supply among other challenges which have the potential to scare potential investors. By the way, Malawian charity organisations should stop giving uselessly support to Malawians. I have noted that many such organizations give people sewing machines to make clothes when the majority of Malawians are wearing kaunjika. They also tell people to be making zidebe when many people are using plastic pails. How can a country develop like this? Are we going to export the zidebes and dresses made by local khonde tailors? Let us be serious.

    2. Chikadzakowani says:

      It boggles the mind that 27 people could agree with the notion that Malawi is extremely poor because NGO’s and journalists tell scaring stories.

      The truth of the matter is that Malawi is poor because since independence Malawi has been cursed with poor leadership. Granted there has been some infrastructure development over the years, but the main preoccupation of all our 5 presidents has been living in untold luxury and keeping the electorate docile and compliant through fear or the giving of handouts – including FISP (which actually benefits the rich more than the poor through logistics charges). Because of lack of critical thinking the poor citizens end up cheering the predatory leaders.

      With countries like Paul Kagame’s Rwanda (similar to Malawi in many ways – land locked, densely populated and very little mineral wealth) making notable progress in reducing poverty, time is running out for Malawi’s leaders to keep making excuses. With visionary and financially prudent leadership Malawi can achieve remarkable progress – even in 5 years. Why APM does not copy what Kagame is doing is a mystery. In Asia Japan led the way , and everyone else emulated Japan. Today Asia has some of the world’s best performing economies…

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