Malawi's President Mutharika brings hope as he vows to rebuild ailing economy

As he was sworn in on Saturday, President Peter Mutharika offered new hope for Malawians and the country’s ailing economy.

In his inaugural speech, he vowed to root out government corruption, rebuild the economy, and restore integrity and efficiency in public service.

Mutharika takes over as Malawi faces acute food shortages, cost-of-living pressures, and a lack of foreign exchange.

Heavily reliant on agriculture, the country has also been hit by recent climate shocks, including a devastating cyclone in 2023 and a drought last year that destroyed crops.

"Malawi is in the middle of a crisis. There's no food, there's no forex, a fuel shortage, and the cost of living is sky high. There's no money in the government, poverty is extremely high and nobody knows where the borrowed money went," he said.

Eighty-give-year-old Mutharika, who was president from 2014 to 2020, warned however that the transformation would not be easy.

“I don’t promise you milk and honey. I promise you hard work, tough, and painful decisions. The honeymoon of looting government is over,“ he said.

A supporter of his Democratic Progressive Party, Edina Mzungu, said that people were grateful for his promise to resolve the hunger situation.

"As he is being sworn in today, the prices of the grain have already started reducing on the market,” she said.

Soaring inflation and fuel and food shortages led to deep discontent with the leadership of  outgoing president Lazarus Chakwera.

Mutharika also called on the international community to invest in Malawi, saying the country wanted partnerships, not handouts.

“Just come and invest in Malawi, and I will work with you to improve the lives of our citizens and guarantee sustainable growth and development,” he said.

He added that a delegation will soon travel to Washington to negotiate the country’s prospects, especially after cuts in US foreign aid that have hurt Malawi.

Chakwera did not attend Mutharika's inauguration, but his Malawi Congress Party sent a message of goodwill.