National Bank of Malawi has 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.

Signed by directors Macfussy Kawawa, Masauko Katsala, George Partridge and Dorothy Ngwira, the statement celebrates a 7% increase in after-tax-profit in the first half from K8.5 billion in 2018 to K9.1 billion.

Since the May 21 elections results were announced on May 27,  businesses have suffered as opposition political parties are disputing election results in court. Businesses in Lilongwe, Blantyre, Zomba and Mzuzu cities and other districts remained closed while those open were poorly patronised.