President Dr. Lazarus McCarthy Chakwera joined thousands of Malawians at Mzuzu Stadium on Wednesday to commemorate Kamuzu Day, a national holiday honoring the country’s founding father and first president, Dr. Hastings Kamuzu Banda.
Despite rainy skies and unpredictable weather, the atmosphere was filled with patriotic energy as citizens gathered under the theme: “Kamuzu: The Benchmark of Servant Leadership, Uniting Malawians and Prospering Together.”
During the event, President Chakwera not only paid tribute to Kamuzu Banda’s legacy but also took the opportunity to announce a transformative economic plan: the conversion of the National Economic Empowerment Fund (NEEF) into a fully-fledged government-owned bank by next year.
Speaking during the event, Chakwera said the move is part of his administration’s broader strategy to empower Malawi’s youth and catalyze inclusive economic growth. The proposed NEEF bank will provide soft loans at low interest rates, specifically targeting young entrepreneurs to enable them to launch or expand businesses.
“The establishment of this bank will ensure that young people across Malawi have access to affordable capital. This is not just a financial reform—this is an investment in the future of our nation,” Chakwera said, drawing cheers from the crowd.
The President condemned the decision by a previous regime, under the Democratic Progressive Party (DPP), to sell the Malawi Savings Bank (MSB), a bank initially established by Kamuzu Banda to serve Malawians.
He emphasized that the creation of the new bank is not merely a policy move but part of a larger effort to rebuild the developmental foundations laid by Kamuzu across critical sectors like finance, agriculture, and infrastructure.
Chakwera highlighted that Kamuzu Banda believed in establishing permanent solutions for Malawi’s development, a vision his administration is determined to uphold.
“In the spirit of Kamuzu, we are working tirelessly to revamp agriculture by promoting irrigation schemes across the country,” the President said. “Our goal is food security, economic resilience, and national prosperity.”
Rt Rev Yohane Suzgo Nyirenda, Bishop of the Mzuzu Diocese of the Roman Catholic Church, also spoke during the event and praised Kamuzu Banda’s long-lasting contributions, noting that much of the infrastructure built during his tenure still serves the nation today.
“Kamuzu believed in durable development. As we head towards the elections, our leaders must ask themselves whether they are running to serve Malawians or to serve themselves,” he challenged.
The transformation of NEEF into a bank marks a bold step forward in reshaping Malawi’s economic future with the same conviction that once built a nation. As the commemorations concluded, one message was clear: Kamuzu Banda’s spirit of servant leadership lives on, and President Chakwera is determined to honor that legacy—not just in speeches, but in policy and action.
