The Reserve Bank of Malawi has issued a final notice warning that it will take legal action against named exporters for failing to repatriate and reconcile export proceeds in line with Malawi’s foreign exchange requirements. Under the Foreign Exchange Act, 2025 and the Foreign Exchange (Repatriation of Export Proceeds) Directive, 2025, exporters must repatriate all export proceeds to Malawi within 120 days from the date of export. Where proceeds are not repatriated within the prescribed period, the exporter is presumed to have received the proceeds unless proven otherwise to the Bank’s satisfaction, and non-compliance constitutes an offence attracting a monetary penalty equivalent to 150% of the value of the goods or services whose proceeds were not repatriated. The notice lists 25 exporters with overdue unreconciled export proceeds totalling USD 16,560,817, and states that failure to repatriate and reconcile the outstanding amounts by 31 January 2026 will trigger legal action without further notice.
Reserve Bank of Malawi 2026-01-30
Reserve Bank of Malawi issues final notice to 25 exporters over USD 16.56m in unrepatriated export proceeds and sets 31 January 2026 deadline
The Reserve Bank of Malawi has issued a final notice to 25 exporters, warning of legal action for failing to repatriate and reconcile export proceeds totaling USD 16,560,817 by 31 January 2026, as required under the Foreign Exchange Act, 2025 and related directives. Non-compliance will result in penalties of 150% of the value of the unrepatriated goods or services.