Plan to introduce a MK5000 elicits mixed reactions in Malawians

Nov 07, 2017
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LILONGWE – The idea to introduce the MK5000 note is a sign that Malawi’s economy is not growing, Malawians have said.

Others have, however, hailed the move.

Malawi24 caught up with Malawians in Malawi’s capital, Lilongwe and some them said that Malawi’s economy is not growing while others hailed the move.

Prisca Mankhwanda told Malawi24 that government should be serious before it comes to the final conclusion of the move since it will tell the world that the country’s currency is of no value.

“MK5000 note? I think this idea is not good since this means that our economy is not that good,” Mankhwanda told Malawi24.

But another Lilongwe resident Brian Chirombo seconded the move saying it will help Malawians to contain its economy.

The idea is coming barely a year after Malawi introduced a K2,000 bank note.
Finance Ministry Goodall Gondwe confirmed the plans on Monday.

“It costs eight million dollars (about K5.8 Billion) for ordering new bank notes and it is a lie that when we come up with this new bank note then we will have prices of goods on the market increasing,” Gondwe said.

He said Malawi remains the sole nation in the SADC region with the least bank note.

Government had said the K2000 note came about because the current highest note of K1000 had lost value.

– Malawi24.

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