Malawi

MW · MWI · 454AfricaMWK MK16 methods

3 sources

Mobile money account penetration is 46%, well above the 25% formal banking rate.

~6M

online population

~25%

banked adults

~2%

credit card population

Mix Methods Behaviour Banks Sources Facts

Payment mix

share of e-commerce spend

CategoryShare

Cash50%
Mobile Money42%
Bank Transfer5%
Card2%
Other1%

Methods in use

top 8 of 16

MethodType

All 16 methods in Malawi →

Checkout behaviour

USSD is the primary access technology for mobile money, reflecting low smartphone penetration.

The National Financial Inclusion Strategy 2024–2028 targets 95% formal financial access by 2028.

Facts

ISO 3166: MW · MWI · 454
Region: Africa
Population: ~21M
Currency: MWK MK
Banked adults: ~25%
Methods live: 16
Banks covered: 13

Largest banks

Compare with

Zambia Burkina Faso Mali Chad

Sources

Something out of date?

Every figure on this page carries a source. Corrections are reviewed within a week.

Edit this country →

Figures are compiled from public sources, may be estimates and are not advice. Report an error · How we source data

Logos are trademarks of their owners. Trademarks and takedown →