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Get to Know About Malawi
Malawi is a landlocked country in southeast Africa surrounded by Tanzania, Mozambique, and Zambia. It covers a land area of 118,484 square kilometers with a population of 17,563,749. The capital is Lilongwe, which is the largest city as well. Malawians speak English and Chichewa and use the Kwacha as their currency when buying goods and services. Most Malawians are Christians with a minority of them Islam. Malawi’s climate is hot in the southern areas and temperate in the northern highlands.
The Gross Domestic Product (GDP) in Malawi is worth 7.06 billion US dollars, and its GDP per capita is $516.80. The Corporate Tax Rate in the country stands at 30 percent, which is a little bit high despite the low salary companies pay to their employees.
When doing business in Malawi, do due diligence first. According to the latest annual ratings of the World Bank, Malawi is ranked 111 among 190 economies in the ease of doing business. Passport holders from most of the British Commonwealth countries, USA, Japan, and the European Union do not require a visa to enter the country for tourism purposes. But other nationals who do need to obtain a visa need to apply for one from The Embassy of the Republic of Malawi. The country also offers a visa on arrival and plans to introduce the e-Visa system in 2019.
The challenges in Malawi include market challenges (barriers to market entry that lead to high transport costs), unreliable water and power supplies, lack of skilled and semi-skilled labor (since proper education does not reach those in rural areas) and a high HIV/AIDS infection rate. Though the country is doing its best to solve these problems, still Malawi is one of the least developed and most impoverished countries in the world.