The Minority Shareholders association of Listed Companies( MISALICO), says the country stands to make strides from financial inclusive initiatives if only populace into the long term instruments such as stock market.
Secretary general for the yet to be launched organization, Frank Harawa told the media in Blantyre that investments in long term Instruments such as the stock market is reliable as compared to other instruments since it is not prone to economic shocks.
He said the country needs to borrow a leaf from other neighbouring countries such as Zambia, South Africa, Zimbabwe where the populace are benefiting a lot from investing into the stock market instruments.
“We need to see a lot of Malawians saving their money into the stock markets by buying shares of the listed companies such as Airtel or Tnm, ” said Harawa.
Harawa attributed the poor participation of Malawians into the stock market instruments to in adequate awareness among the players.
“Investing in the stock markets is a viable strategy to widen the financial inclusiveness being lobbied the the reserve bank of Malawi and other players in the stock market. However, it seems the awareness is not reaching its intended purpose as witnessed by the low participation of investors, ” said Harawa.
Among others, Harawa called upon the government enforce the law to see many companies listed on the Malawi stock exchange market to ensure competitiveness and diversity among the players.
Harawa also asked government to hands off the stock market regulation to ensure independency.
In a separate interview, the associations’ director, William Matewere, said Malawians needs to be economically empowered through investing into the stock market as a viable and long term instrument.
He said his group will join the government in its bid of financial inclusiveness by increasing awareness of the stock market to increase knowledge and participation in the capital investments.
” We want to see more Malawians participating in this sector for economic development of the country, ” said Matewere.
Meanwhile, the organization is set to be launched in November 4, 2022 in Blantyre where the minister of finance Sosten Gwengwe will be the guest of honour.
The minority shareholders of listed companies ( MISALIKO) was established in 2018 to among other things help shareholders improve their understanding of the operations of the stock market.