By Françios Kwatani

Malawi University of Business and Applied Sciences (MUBAS) based economist Betchani Tchereni says the move by investors to resume operations in the country signifies confidence that the foreign exchange situation is improving.

The remark follows the resuming of airline ticket servicing by the Ethiopian Airlines in Malawi effective June 9 this year just after the devaluation of the Malawi Kwacha.

Ethiopian Airlines ceased the ticketing services three weeks ago due to shortage of foreign exchange in the country.

Tchereni said the devaluation of Kwacha has made foreign exchange to be expensive therefore allowing its supply on the market, a development which will help boost the country’s economy.

“There is enough confidence among investors that when they need to have some of their resources remitted, it will be possible for them as foreign currency is now available in Malawi after selling tobacco and soya to foreign countries,” Tchereni said.

However, Tchereni said the recommencement of ticket servicing might bring high demand for the available foreign exchange which in return will result in its depletion.