Suleman Chitera 
By Suleman Chitera
Economist and consumer rights activist John Kapito has raised fresh concerns over Malawi’s foreign currency situation, arguing that the country may have more foreign exchange than official figures suggest.
Kapito says some individuals are allegedly holding foreign currency in their homes instead of putting it into the formal financial system, while others are trading it through unauthorized markets.
He further claims that some people have accumulated unexplained wealth through the illegal hoarding and trading of foreign currency.
Kapito says Malawi must confront the behaviour if the country is to address its persistent foreign exchange shortages, arguing that the problem cannot be solved through official interventions alone.
“There is too much greed in this country,” Kapito says, calling for stronger measures to ensure foreign currency circulates through the formal economy.
His remarks are likely to intensify debate over Malawi’s foreign exchange crisis and whether the country is suffering from a genuine shortage—or partly from foreign currency being held outside the formal system.
Read also: Where were you on June 10, 2024?” — A day that changed everything
Read also: MEC calls for patience, condemns protests
Read also: Roza Mbilizi Pushes for Fair Tobacco Prices and Stronger Market Regulation to Protect Malawi Farmers
