Market Research in Malawi
The Republic of Malawi is an East African landlocked country. Its surrounding neighbors are Zambia, Tanzania, and Mozambique. The official languages are English and Chewa. Of course, there are other languages spoken in varying regions. The most prevalent ethnic group within the population is the Chewa tribe. In addition, you will find other minor ethnicities such as Lomwe, Yao, and Ngoni. Still, no official religion influences the country. Over half the population practices Christianity, especially Protestantism. Its currency is the Malawian kwacha.
Agriculture is the key industry of Malawi. Indeed, most of the working population find employment within that sector. In addition, the primary agricultural product of Malawi is tobacco, which makes up a significant part of the country’s exports. Malawian farmers also produce teas, sugar, and cotton, but on a smaller scale.
Corn is the main crop, but beans, peas, peanuts, cassavas, bananas, pulses, and rice are grown. Many Malawians also rear chicken, sheep, cattle, and goats on a subsistence level.
The manufacturing sector works to cut back on importing goods and materials. Thus, it is finding ways to produce textiles, shoes, canned goods, tools, radios, and sugar for local consumption.
Lilongwe is the largest, most populated, and capital city of Malawi. In fact, Lilongwe has two subdivisions: The New and Old City. Moreover, as their names suggest, they hold modern and traditional structures and businesses.
Blantyre is the second most populated city in Malawi. This city is also famous, but for its parks and its preservation of history and culture. It maintains the British colonial architecture but also has museums showcasing Malawian culture.
Trends in Malawi
The COVID-19 pandemic has caused significant setbacks on the social scene, with social distancing and quarantine in effect over different periods. Technology has filled the gap created by the lack of face-to-face interactions, so Internet users have increased by 639,000 between 2020 to January 2021. The country of Malawi has finally caught on to the digital culture of the world.
Benefits and strengths of the market in Malawi
The strength of Malawi’s economy lies in its estates. Indeed, the tobacco exports carry Malawi’s trade relations. Even though tobacco is thriving in the country, the estate owners are diversifying their produce. The cultivation of sugar, cotton, nuts, and other crops is also picking up steam. In addition, Malawi has the soil type, land space, and workforce to support its estates. Thus, an investment in the agricultural sector is sure to thrive.
When the pandemic hit, business in Malawi took a hit as well. Many consumers are still regaining financial stability. They tend to buy simple commodities such as food, household items, and clothing. But, in more urban areas, digital devices and internet services are all the rage. People earn higher incomes in these areas, so well-off Malawian youth splurge on entertainment, media, and merch. They also spend lots of time and money keeping up with pop culture.
Why you should grow your business in the Malawian market
It’s easy for both local and foreign investors to register and start a business in Malawi. The process is also swift, and it sets your business off to a good start. In addition, Malawi is one of the most peaceful countries in the world with excellent trade relations.
Malawi’s leading trading partner is South Africa. But it also has large nations like China, India, and even the United States as trading partners. Additionally, other African nations engage in trade with Malawi. Furthermore, the location and excellent trade relations of this country are a definite plus. They grant your business access to what Malawi has to offer and its international ties.
About market research in Malawi
Doing business in Malawi can be much easier with market research. We can provide focus groups, interviews, and surveys. We also undertake Quantitative, Qualitative, and Strategy Research for the Malawian market. Then, we compile the findings to give you an overview of your potential investment. Let us help you and your business thrive in Malawi.