Visa removal to boost forex—Standard Bank Chief Executive Madinga
Following Malawi Government’s decision to heed calls for removal of Visa restrictions into Malawi, Standard Bank Plc Chief Executive, Phillip Madinga says this will help the country increase inflows of scarce foreign currency.
Madinga, whose bank has been advocating for the relaxation of the Visa requirement, described the government’s decision as timely as the country continues to battle foreign currency shortage, saying: “This will help make Malawi an attractive tourism destination and boost foreign currency flows in the long-term.”
Removal of Visa restrictions is one of bottlenecks identified during the bank’s-led Business Leadership Round-Table on December 12 — the high-level forum that brings together government, regulatory agencies, donors and private sector to discuss areas of economic policy reform.
Home Affairs Minister, Ken Zikhale N’goma announced the removal of the entry restrictions in a Gazette published on Wednesday that said the the restrictions have been lifted for 48 countries including USA, United Kingdom, Germany, France, Australia, China and Russia — which are considered key source markets for international tourism and business arrivals into Malawi.
The Visa exemptions also apply to all Southern Africa Development Community (SADC) and Common Market for Eastern & Southern Africa (COMESA) member states, including some multilateral institutions that do business with the Malawi government.
