The Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has said the current economic landscape and outlook is shaky. MCCCI Chief Executive Officer, Chancellor Kaferapanjira said that under such an environment, businesses can barely thrive.

Macroeconomic indicators have registered a mixed performance in the first half of 2019 as headline inflation, seen at 8.9% in May 2019, has been within a single digit band. On the other hand, interest rates have been going down after the Reserve Bank of Malawi slashed its policy rate twice this year alone to stand at 13.5%. Such ups and downs have gotten mixed reactions in the business environment. For instance, National Bank of Malawi (NBM) said that the current business environment remains subdued, despite a policy rate that was lowered twice this year. This is due to pre/post election tension in the country, according to the bank’s half year financial statement.

The negative effects of the policy rate slash, coupled with the post-election demonstrations that saw the destruction and looting of various business and personal property. The Daily Times newspaper revealed that the 26 individuals have summoned the Human Rights Defenders Coalition to court, following damage to property worth K545,802,450 that was destroyed during the anti-Jane Ansah demonstrations.

According to Daily Times, one individual alone has claimed a that about a fifth of the amount above, was his property. “Dennis Moyo also claims in the summons that property worth K150 million was damaged at his house during the demonstrations” says the headlining news.