Malawi is seeking to borrow 120 million US dollars from the African Export-Import Bank to procure fuel, as severe foreign exchange shortages leave the country unable to pay for petroleum imports.
Information Minister Shadric Namalomba indicated that national fuel reserves are depleted, with supply disruptions linked to ongoing Middle East conflict. The proposed financing is expected to secure about 120 million litres of fuel to ease the crisis, which has triggered long queues at filling stations nationwide.
On April 1, the Malawi Energy Regulatory Authority increased fuel prices by an average of 35 per cent, citing rising global oil costs. Meanwhile, on Monday, Agriculture Minister Roza Mbilizi said the government is relying on proceeds from the 2026 tobacco marketing season to boost foreign exchange reserves and improve import capacity.