Recently the new FOREX rules have been published in The Malawi Gazette under Government Notice No. 27. They are already dated 4.4. but it always takes a while ..
The provisions relevant to the NGOS are contained in sections 8 and 9. In our opinion, the NGO concerns are thus taken into account: there is only a 50% mandatory exchange at ReserveBank. But only when it is needed (at any time). The immediate mandatory exchange of 70% within two working days of receipt of the money is therefore off the table.
Forex could also be used to pay for deliveries from abroad (Section 8 (3)) without the compulsory exchange of 50% (Section 8 (4)).
According to § 9, the local partners NGOS must now also submit an annual report to the central bank on the funds, due by January 31 of the following year.
However, this was already included in the old regulation of 12.12.2024.
The German Embassy and Ambassador Ute König herself have done a lot for us here. THANK YOU for that!