Oil prices are higher because of strong demand, limited investment in new production and geopolitical tensions. This means higher transportation costs, which further add to the price pressures on goods. Food prices are also being affected by extreme weather that has reduced harvests. And strong demand for housing, in the face of limited supply, has pushed those prices up.
For this, I would like to thank the board and management of CDHIB for ensuring that the bank’s customers are provided with modern facilities. Mr Chairman, the acquisition of the building by your bank demonstrates your strong commitment as a long term investor in Malawi. Malawi requires committed strategic investors if the country is to progress economically.