World Bank rates Malawi as world’s lowest Gross National Income: 51 years of independence

As Malawi celebrates 51 years of independence from Great Britain on Monday 6 July, the World Bank has stated in its latest global rankings based on per capita Gross National Income (GNI) that the country has the world’s lowest reported GNI per capita at US$250.

President Mutharika and his Finance Minister Goodall Gondwe

President Mutharika and his Finance Minister Goodall Gondwe

Malawi Minister of Foreign Affairs George Chaponda with Kenya vice president William Ruto

Malawi Minister of Foreign Affairs George Chaponda with Kenya vice president William Ruto

The World Bank said at the release of the country ratings: “Gross National Income per capita continues to show improved economic performance in many low-income countries.”

The World Bank noted the chasm between the poorest and richest nations: “Malawi has the world’s lowest reported GNI per capita at US$250, while Monaco has the highest, at more than US$100,000 – more than 400 times more per person than in Malawi.”

The bank also noted that poor nations like Malawi move only very slowly up the earnings brackets over the years: In 1990, the nation’s GNI per capita was US$180; 24 years later, it had grown by just US$70.

GNI is a broad-based measure of income generated by a nation’s residents from international and domestic activity.

World Bank chief economist and senior vice-president Kaushik Basu said: “GNI per capita measures the average amount of resources available to persons residing in a given economy, and reflects the average economic well-being of a population.

“While we need to measure development progress in different ways, income-based measures such as GNI remain the central yardstick for assessing economic performance.

Independence Day

Malawi’s 51st independence celebrations will take place at Kamuzu Stadium, with Zambia President Edgar Lungu and Kenya Deputy President William Ruto expected to be among senior foreign dignitaries gracing the event.

Former Mozambican President Joachim Chissano is also expected to join Malawians in the celebrations under the theme, toward transformation and inclusive development.

Minister of Finance, Economic Planning and Development Goodall Gondwe told reporters on Sunday that Government plans to spend about K300 million.

The Theme is in line with Malawi vision in trying to move the country moving forward in its development agenda countrywide and beyond.

“All this can be achieved if there is delivery of public services. In other 50 years to come, we would like to see Malawi being a producing and exporting country,” said Gondwe.

“This government is looking for unity among all Malawians and it is a function that everyone is supposed to come regardless of any affiliations,” said Gondwe.

Blantyre City Council (BCC) Mayor Noel Chalamanda was excited with government’s choice of Blantyre for the celebrations.

He said the city has iconic features like the Independence Ark, and promised to make it more beautiful with the Keep Blantyre Clean and Green Initiative.

“Despite facing much vandalism, Blantyre is still on the right track. May I ask anybody in the city to look for the infrastructures well? Vandalism has heavily affected BCC operations,” said Chalamanda adding that street lights have been a victim of vandalism in the city.

Later, Minister of Information Tourism and Culture Kondwani Nankhumwa and Blantyre Mayor Noel Chalamanda commissioned independence celebrations lights at the Clock Tower Round About.

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Makhuwira
Guest

Malawi is the only southern African country without good roads and underdeveloped town and rich in nepotism where only one tribe is favoured this can not take us any far .

SOTHINI MBWENU-MBWENU
Guest
SOTHINI MBWENU-MBWENU

WESTERN OR EASTERN GIANTS ARE NOT smart WHEN DOING TRANSACTIONS WITH THIS NATION. OUR CHIEF EARNER OF INCOME IS AGRICULTURE, THE CROPS LIKE TOBACCO, GROUNDNUTS, COTTON; THEY ARE BOUGHT AT VERY GIVE AWAY PRICES. INSTANCE, ZAMBIA SAME TOBACCO IS BOUGHT AT FOUR, FIVE TIMES PER KILOGRAMME AM TELLING YOU THAN HERE. WE PRODUCE MORE TONNAGES THAN THEM, AGAIN, IMAGINE.
THESE BUYERS COME WITH LOTS OF FABRICATIONS,; POOR GOVERNANCE, QUALITY, SO MANY NEGATIVE OBSERVATIONS.
ONLY GOD KNOWS.

The Truthful One from the West
Guest
The Truthful One from the West
Malawi’s position as the poorest country in the world is due to two major reasons; namely: a) natural factors- a large and rapidly growing population on a limited space of land with limited commercially exploitable natural resources. b) Man-made factors-bad political and economic governance right from the one party state of Kamuzu Banda to the multiparty era from 1994. For example due to the greed of Bakili Muluzi who wanted to extend his term of office the transition from Muluzi to Bingu wa Mutharika went badly wrong. It led to the birth of DPP and the demise of UDF. DPP… Read more »
mbani
Guest

stupid that’s what we want

Njavwa
Guest

celebrations without salary loli..

Chawanangwa
Guest

So we are poorer than Haiti, Djibouti, Cape Verde etc. Zamanyazi and yet Mutharika and co are celebrating this 6th July and wasting taxpayer’s money. There is nothing to celebrate – why celebrate mediocrity? I think we celebrated independence during Kamuzu’s reign and there is no need to celebrate if there is nothing tangible. This is like a 50-year old man celebrating passing standard eight exams that he sat 4 decades ago! Kodi sumupanga manyazi?

Makwasa
Guest

Oh no no no we are a rich country… Who paid the World Bank for bad publicity? We are very rich.

Kent Y.G.Mphepo
Guest
Andy, actually my worry is not so much have to do with the “running order” of the celebration. My worry has everything to do with the “software” behind the running order of this independence celebratio. My argument is that changing the format of the program is something that they can easily do. The question I am trying to ask is: should we expect them to do anything new or innovative in improving the econony if they are failing to contextualise & innovate on this simple matter? So yes, my worry might sound simplistic at face value. But if you think… Read more »
Noel Fabiano
Guest

Umbava Ndi Umbanda Mene Wakuliramu ,anthu Kumangophedwa,winawe Nkumati Dziko Lili Pa Ufulu Za Zii,.

agnes wanzeru
Guest

Most Malawians are poor coz of laziness. They expect govt to do things for them. They work less than 8 hours a day. Busy with funerals, weddings, gossips, chatting, excessive praying etc. When some people work hard and get rich, basi kuwanena kuti ndi a satanic. Nthawi zonse blaming politicians for their poverty. Malawians wake up to work hard to develop ur homes.
Poor people are the ones making the country poorer.

wpDiscuz

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