Fuel Market Worsens Underperformance View

Malawi is one of the least developed and most densely populated countries in the world with an economy based almost entirely on agriculture. In fact, agriculture is a source of income for more than 80% of the population, accounting for 30% of GDP and 90% of export revenues, according to the World Bank. Therefore, improved infrastructure and transport availability across both passenger and commercial segments is crucial for future economic growth. To this end, BMI is beginning to see green shoots emerge from the currently underdeveloped Malawian autos market, and we are forecasting car sales to grow slowly but steadily at 3% over the next 5 years.

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