The Minister of Finance and Economic Affairs, Simplex Chithyola Banda, Friday officially launched the Power of Data initiative in Lilongwe
The Power of Data initiative is an extensive programme designed to utilise data to enhance decision-making processes, improve operational efficiency, and drive innovation across various sectors of the economy.
The minister said the initiative will aid in assessing sectoral needs, forecasting economic trends, and optimizing resource allocation, promoting fiscal responsibility and guaranteeing that every kwacha spent supports Malawi’s sustainable growth.
“It will enhance our ability to monitor progress toward the Malawi Vision 2063 and it will serve as a critical tool in our commitment to the Sustainable Development Goals,” said Banda.
Chithyola Banda among others also highlighted three key pillars of the initiative: strengthening data infrastructure, building data literacy and capacity, and promoting greater accessibility and transparency of data.
He further underscored the significance of the programme, noting its potential to improve resource allocation, enhance decision-making, and foster innovation in both public and private sectors calling for close collaboration between all parties to build a data ecosystem that benefits everyone.
Said Chithyola: “I have faith that by working together, we can bring about long-lasting change and open fresh avenues for social and economic advancement.”
Also speaking at the event, the Secretary to the President and Cabinet, Collen Zamba, emphasised the transformative potential of the data initiative in providing valuable insights that could shape future trends and accelerate development.
She stressed the importance of policymakers remaining vigilant and ensuring that policies are aligned with the Sustainable Development Goals (SDGs), with a clear focus on achieving meaningful progress by 2030.
“As we have heard today, better data is the indispensable scaffolding that supports progress across all Sustainable Development Goals and is one of the means of implementation that we are showcasing today across the High Impact Initiatives,” adding that “reliable and responsive data is essential in achieving socio-economic and development goals. Data gaps result in missed opportunities.” she said.
Commissioner of Statistical at the National Statistics Office (NSO), Shelton Kanyanda, said that data helps policy and decision makers especially in government to understand complex issues that they would find difficult to comprehend and understand.
Adding voice to the initiative, United Nations Population Fund (UNFPA) deputy country representative Ezizgeldi Hellenov, said the UN family and other agencies ‘will work together with the Government of Malawi to take further power of data.’
The initiative is expected to be a cornerstone in Malawi’s efforts to modernise governance and create an evidence-based framework for sustainable development.
United Nations resident coordinator for Malawi, Rebecca Adah-Donto was among the high level delegates at the launch event.
