Malawi has this summer experienced some of the harshest temperatures. With some areas reaching a maximum of 44 Degrees Celsius on the thermometer reading, it is safe to say Africa’s warm heart has been a fulcrum of massive hydrogen convergence. Indeed, smooth survival in this last quarter of 2019 goes down to who possesses cold water and an air conditioner.
However, that is not the heat we are here for. We are here to talk of the heat that has engulfed the Central African nation economically. The early days of November have seen a rise in prices of petrol, diesel and paraffin. After months of cushioning the prices of these commodities, the Malawi Energy Regulatory Authority (MERA) came to an eventual decision to hike the prices. Coupled with the fuel hike has been the deterioration of kwacha’s exchange prowess. From K739.25/USD, now the kwacha can be exchanged at K742.25/USD. The beloved maize has also come under a heavy spell. Presently, someone in Zingwangwa has to cough a high K280.00 to get a kilogram, K247.00 in Lilongwe rural while Mzuzu will demand K200.00 for the only commodity that is a fruit and a crop. There has been a heavy contrast on the prices as November last year registered K150.00, K128.00 and K107.00 per kg in Zingwangwa, Lilongwe rural and Mzuzu in that order.
Consequently, we should expect to sail in marquee waters. First of all, the price of commodities is expected to go up due to this rise in fuel. The kwacha’s exchange rate dropping will mean importers will have to pay more for the same quantity of goods they imported last month. This too will put pressure on commodities on the market.
Is this period the present day 1926 great economic depression? Or is it a relative to the 2008 financial fracas? Maybe not. The similarity, nonetheless lies in how we are going to survive it.
The eleven lines firmly call for the Malawian to be cautious with the dear wallet. Abraham Maslow’s hierarchy of needs should come into play. During this period, needs should be of priority as compared to wants. Let us make sure we have enough to purchase food, utilities, energy and other day to day commodities. This should be critical as we approach the festive period, an era where most individuals would like to part ways with their remaining dear kwacha at every possible opportunity without being weary of the famous ‘January’.
We are looking forward to better days for the kwacha, fuel and maize prices. As for now, brethren and sistren, let us survive the heat.
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