Located in southern Africa, Malawi is landlocked and shares a border with Mozambique, Zambia and Tanzania.
In the past decade, Malawi has been able to make significant economic and structural reforms and sustain economic growth but remains one of the least developed countries in the world. The economy is heavily dependent on agriculture, and it is vulnerable to external shocks.
The country’s development is guided by the Malawi Growth and Development Strategy (MGDS), a series of five-year plans that contribute to the long-term development goals outlined in Vision 2020. Currently in MGDS III, with the theme “Building a Productive, Competitive and Resilient Nation,” will run through 2022 and focuses on education, energy, agriculture, health and tourism.
Malawi’s most important export crop is tobacco. The country also relies heavily on tea, sugarcane and coffee, with these three plus tobacco making up more than 90% of Malawi’s export revenue. Malawi has few exploitable mineral resources. A South-African Australian consortium exploits uranium at a mine near Karonga. Coal is being extracted in Mzimba District.
HLB Malawi is a leading firm of tax and audit consultants helping clients meet their growth objectives in Malawi.
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