Malawi’s forex shortage is threatening operations in the airline business, creating uncertainty on the future of the industry, Business News has learnt.
Frustrated by events in the foreign exchange market in the country, some sources in the airline business have confided in Business News that some operators are now seeking an audience with key economic agencies in the country such as Reserve Bank of Malawi (RBM), ministries of Finance and Economic Affairs as well as Ministry of Transport and Public Works while gauging the future of their respective businesses.
The sources say as it stands, it is proving difficult for most airline operators to convert local currency and transfer such currency into their foreign currency denominated accounts as stipulated in their respective bilateral agreements.
A senior official from the aviation industry told Business News on condition of anonymity that it is impossible to rule out that some operators may suspend their businesses in Malawi.
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