MALAWI CATCH BITCOIN IF YOU CAN
Pacharo Nyirenda published two months ago, redited August 10, 2025.
Bitcoin is not for everyone but open for everyone. As a teenager, Bitcoin has already seen massive sprout growth surpassing Amazon's market value, becoming the fifth most valuable asset in the world and aiming to surpass gold that has been around us for the last 5,000 years.
According to coinworld, Bitcoin trails only behind Apple, Microsoft, NVIDIA and of course the shiny yellow metal of antiquity, gold in terms of market capitalization. It’s clear to see the hormones are firing. Institutional adoption, regulation clarity, geopolitics, inflation are all fueling speedy growth and adoption for Bitcoin around the world.
As we witness this unprecedented speedy growth of Bitcoin, the decentralized network of consensus, nodes and mining power, its toes are reaching the ceiling of the shoe. Most countries are going bullish on Bitcoin.
The rush hour is on, they are either making Bitcoin legal tender, crafting regulatory policies, establishing strategic reserves, Bitcoin ETFs, Bitcoin educational programs and developing smart contracts. Bitcoin is indeed decentralized, dusting off the old double spending centralized ledger, transforming the way we approach finance.
In the midst of all this Bitcoin fuss, one may wonder, what's Malawi's position on Bitcoin? Where does Malawi place Bitcoin? What's the state of affairs for Bitcoin and Crypto currencies in Malawi? Is Malawi noticing the trends, is the sky any orange?
Are there any bitcoiners? Like Grey Jabesi, one of the earliest voices of Bitcoin in Malawi, a young successful crypto currency investor born and raised in the dust and rags of area 25? A special article will be written for this incredible gentleman.
Do we have miners, nodes? Can Malawi place itself in a position to benefit from this Bitcoin phenomenon? Do we have any free energy resources to utilize for Bitcoin mining, policy framework, regulation and make it actually legal tender? Is there even any interest in Bitcoin at all in Malawi?
The state of affairs for Bitcoin
in Malawi is as bright and promising however, it’s going to take a shovel,
digging and getting dirty. In a nutshell, lets explore the brief historical
background of Bitcoin in Malawi, BitcoinBoma organization & education,
Women of Satoshi initiative & of course, Malawi catch Bitcoin if you can.
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| Trezor & BitcoinBoma Seminar at MUBAS, Blantyre Malawi 2025 |
BRIEF BUT SKETCHY HISTORICAL BACKGROUND
There may be other unofficial record (s) to the specific historical background of Bitcoin and Crypto currencies in Malawi which have been missed in this article at the time of writing. Write a comment if you have any information regarding the historical background of crypto currencies and Bitcoin and ill re-edit this post with acknowledgement.
As Bitcoin is heading for the economic throne, the Malawian Kwacha continues to dwindle down the tunnel. Purchasing power seems to slip and fall on the muddy economic road to a point where a basic necessity, sugar has hit a record high price of MWK 5,000.00.
Prices are the sponge, soaking all excess printing of currency generated by commercial banks and our central bank which by the way is the ultimate guardian of the Malawian kwacha currency. Speaking of the lender of last resort, a report by Miriam Banire on Crypto adoption around the world 2022: Malawi stated, " Reserve Bank made it clear that cryptocurrencies are not considered legal tender and their use remains illegal."
The report further highlighted stating, " RBM bears the exclusive mandate to issue legal tender, thus, bank notes and coins in Malawi, and to date, has not issued any form of cryptocurrency. The general public is encouraged to fully understand and be aware of the risks associated with the use of cryptocurrencies and similar online trading schemes, which include money laundering, vulnerability to cybercrimes, hacking and other fraudulent activities.” A statement from the former Governor of RBM, Dr. Dalitso Kabambe.
In the light of this, 2022 seems to be the official opening entry of Bitcoin and all crypto currency discussions in Malawi. Bitcoin was treated as just any other cryptocurrency and assumably needing a more careful approach to it.
A strong emphasis that the RBM bears exclusive rights to issue legal tender currency in form of notes and coins drew a clear line, underlining risks such as fraudulent schemes, money laundering and cybercrimes if not monitored or regulated by the central bank.
In
2023, the same report stated that RBM was aware of cryptocurrency trade
activities and there was mounting pressure from organizations such as ICT
Association of Malawi as well as Economic Association of Malawi on formulating
a regulatory policy and giving a clear stand on legal status for
cryptocurrencies.
The secretary of RBM and general
counsel mentioned in further development in the report of engaging various
stakeholders in crypto regulation and having a neutral stand. This implies that
the government’s position was not clear. However, they were aware and their attention is undivided.
https://times.mw/reserve-bank-of-malawi-cautions-on-crypto-virtual-assets-trading/
Malawi is also a member of the World Economic Forum. An international independent agency that aims at improving the state of the world by involving the business communities, governments and institutions in crafting policies, guidelines and really put in effect agendas seeming fitting for a cause.
Does it sound like Malawi perhaps may have been trying to explore its first Central Banking Digital currency? W.E.F clearly advocates for a cashless society and has pushed for central banks in its membership to craft a Central Banking Digital Currency.
As word on the corner travels so fast, Malawi seems to have called for consultations for a CBDC which its prototype patent is called the ‘e-kwacha.' A digital currency that will be issued by the state, perhaps that will also go side to side with the physical notes of the Kwacha. Progress of this project has so far gone under the sheets as not much has been heard or speculated but we have our three eyes and three ears open to see the unfoldings.
BITCOINBOMA, EDUCATION AND
WOMEN OF SATOSHI
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Bitcoin Boma & Trezor Academy 2024, MHub Area 15, Lilongwe after completing a three phase seminar workshop |
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| Live Session of the MEM-POOL and Bitcoin's Blockchain Seminar session 2024 |
All roads to Bitcoin Boma began in 2022, when Malawi including the rest of the world were recovering from aftermath of COVID-19 pandemic which was declared by World Health Organization. By this time a lot of business activities had slowed down, most private sector had been on a lock down and others working remotely.
Demand and supply command lines had drastically dropped. Masks had to be worn in all public places and atmosphere was utterly dry. Physical meetings seemed a challenge, gathering as crowd suddenly was a taboo but as history continually speaks and repeats, such times on the opposite side, opportunities loom for light. Two gentlemen, Nick Twayman and Grant Gombwa were actively sparkling Bitcoin conversations, deliberating Bitcoin and its state in Malawi.
They started hosting space talks, engaging with fellow bitcoiner’s and audiences across the world via on twitter (X).As if they were men on a mission to the Creature of the Jerky Island to draft a BitcoinBoma bill, it is believed that in 2023, August was the first time a Bitcoin physical Meet up happened in Malawi, right in the heart of the capital city at M-Hub Area 15, Lilongwe. There were fifteen participants and amongst many things they shared ideas of Bitcoin, state of legality, education and awareness as well as its adoption in Malawi.
The aftermath of this meeting
encouraged Grant and Nick to develop an idea of an organization. Interestingly,
it was the wife of Nick that came up with the name "BitcoinBoma."
Perfectly fitting, the name "Boma" stands for "place where
people live" also it stands for " Government." Bitcoin being for
the people, serves the society, a universal digital currency, the name
absolutely placed everything in order fitting the context and representation.
Bitcoin Boma was born in August, 2023 and made its first steps by integrating the themes of social interaction, environmental awareness and economic empowerment of Malawians. This organization advocates for the use case of Bitcoin as a legal tender currency, offering an alternative alongside the Kwacha, seeking framework and acceptance as means of payment for goods and services. Bitcoin finally had a home in Malawi, Bitcoin Boma.
Later, Ian Foster, a chartered accountant, economist, business analyst and of course a Bitcoin maxi teamed up with the cofounders of BitcoinBoma and went together for a Bitcoin voyage conference in South Africa towards the end of 2023.
After this conference, he later joined Bitcoin Boma & also highlighted his personal efforts of engaging Malawi government on the Bitcoin course which amongst other things included negotiating with the government of Malawi, through the Ministry of energy resources and Mining.
He proposed an opportunity to utilize the water energy which powers the electric hydro-power plant grid that powers and generates electricity for Malawi. In the proposal, the abstract was utilizing and bolstering efficiency of generating electricity through Bitcoin mining.
Later in May, 2024 BitcoinBoma
collaborated with Trezor academy to host their first Bitcoin Education seminar
and it happened in the month of July, 2024.
They were 12 participants who completed a 3-day seminar series, scooping
certificates of attendance, crafting cyber hornets of Bitcoin to preach the
gospel of Bitcoin to the masses. These efforts proved a success and opened the
door of an opportunity to embark on the first BitcoinBoma Diploma education
journey.
Towards the year end of 2024, Bitcoin Boma successfully launched the Bitcoin Diploma education campaign and registered its first Cohort students to embark on an education program. November 16th, 2024 was a special day. It was packed like it’s a Christmas day where all relatives are sitting and laughing on a round table. BitcoinBoma hosted a Bitcoin 101 session with a special guest who later has become an incredible pillar of strength in Bitcoin Boma.
Talking of electrical Engineer a Bitcoin powerhouse, vastly experienced, some grey hair we were privileged to meet and have Olev Maimets, all the way from Canada. He detailed the significance of Bitcoin, why Bitcoin and how his life has changed by embarking on Bitcoin. To this day, Olev is an anchor, a tutor, an aid and alley of Bitcoin Boma.
Later, Ian travelled to El- Salvador, where his mission was to raise awareness and apply for BitcoinBoma to be a Mi Primer Bitcoin node and on 5th January, 2025 Bitcoin Boma took its first step embarking on its first education program. On the February 12, 2025 BitcoinBoma received an upvote representation of 56 votes to become a light node.
As history of BitcoinBoma continued to unfold, a new alley emerged from
the shores of the fresh waters of Malawi. A brilliant, creative and passionate
Doctor and a junior Bitcoin protocol developer who cofounded a cooperative
initiative called Women of Satoshi.
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| Inside the session a deep dive to Why Bitcoin? |
WOMEN OF SATOSHI
This young ambitious professional doctor and a junior Bitcoin developer by the name of Yankho Ngoleka took advantage of his challenging profession turning tables to a golden opportunity by concentrating on how marginalized, vulnerable young women and women can re-build their lives from scratch by using Bitcoin education and developing cooperative bitcoin circular market structure using an idea known as 'Sats Mkhonde.'
The idea loiters a common traditional women's' Bank m'mKhonde, where women can form a cooperative, create a common fund using bitcoin Sats, loan each other to invest and craft businesses and save their gains in Sats. Women of Satoshi is supporting these women who don’t qualify in the traditional banking system. They have no National Identity, no bank records, no education qualifications but support their families. The name, “Sats Mkhonde” “Mkhonde” is a vernacular Chichewa national language, an imagery that means, ' the Bank is within the veranda’ so to say, ' the Bank is close to you.'
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| Graduating Women of Satoshi who succesfully completed African Bitcoiner Course |
Earlier, it was highlighted how small-scale businesses are really the skeleton of Malawi's economy. One of their major drawbacks is how FIAT currencies wash off the purchasing power for their gains in the small businesses they run. In the long run if these businesses erode with hyperinflation, then chances are they won’t survive. Absence of these businesses means a cut in business supply chains, collapse of production and destruction of a family unit. How can these businesses be recession proof? Women of Satoshi has a unique answer. If these businesses have access and adopt Bitcoin as alternative digital currency portfolio then it stretches the life span of their investment and savings. Bitcoin is a store of value and fares well with time.
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| Founder of Women of Satoshi Yankho Ngolleka, presenting at MUBAS university, Blantyre Malawi. |
Women of Satoshi aims to educate and let women pioneer 'Sats Mkhonde' initiative which will be a catalyst in creating a Bitcoin circular economy. As Bitcoin Boma picked its perks, it partnered together with Women of Satoshi and shared together the vision of awareness and education for Bitcoin in Malawi.
MALAWI CATCH BITCOIN IF YOU
CAN
When there's a dead rat in the ceiling, no matter how much you clean the house, the scent will keep you outside the house. When you have a currency plundered by catastrophic loss of purchasing power, it will keep you out of reach for prosperity.
There is a lot of mirage on the state of affairs of the Kwacha. It seems the more we use it as a medium of exchange and store of value, the greater it plunges. The rate of its velocity seems to concur to the speed of light and prices are soaring to the point they can break the firmament dome.
The underwhelming performance of the Kwacha places every citizen on blink of loss, financial paralysis, uncertainty and instability of the nation. There are a lot of schools of thoughts, we have brilliant economists, well-grounded institutions that act as an eye and they have solid data with all the charts in place.
As of writing, trading economists, reports an exchange rate rise of MWK 1,734/1 USD recording a 0.02% increase as of 10th June, 2025. In contrast, the Kwacha performed lower last month giving a 0.02% & a lower turnover of 0.03% from the previous twelve months check on the opposite side, the reality speaks a different language.
Regardless of the slight gain, prices of commodities which are an indicator to the purchasing power of the currency continue to climb up. Every commodity seems to react with any speculation, rumor mill, geopolitics and of course trends with the US Dollar, cases of both white market (Bank rate) & black market (Unregulated US Dollar market rate).
Fuel availability is also one catalyst that sets the
wildest fires of price hikes. Just a slight hint of fuel shortage, sets ablaze
prices of every commodity leaving a wallet only ashes and dust.
A fuel shortage can get the price of fuel at MWK 10,000 or above per liter as compared to the official pump price of MWK 2,530 for Petrol and MWK 2,734 for diesel as of writing. According to Statista, Malawi has one of the highest, in fact the first country on the list for the highest gasoline prices. Confidence & purchasing power of the Kwacha is extremely reliant towards availability of US Dollar. What institutions of trust miss as guardians of the Kwacha is we legitimize the Kwacha to another collapsing currency, the US dollar.
The dollar standard since 1971 has never maintained any purchasing power. It has in fact failed to keep its grip as a store of value as time can attest its stability and strength. This is the case with all FIAT currencies throughout history. Price inflation of commodities has always signaled a weak currency due to over excessive printing, government deficit spending for social programs, ever ending construction works, social cash transfers amongst other things.
Whenever, the money supply
is tampered with, a loss in the purchasing power is inevitable. The
institutions we trust to save guard the purchasing power of the currency fail
to uphold the principle and never mention or question the money supply problem.
They chose shortcuts that bypass the natural principles of free markets.
This is like keeping a dead rat in a home, if you can't locate it, the smell will choke the nostrils. If we are to reverse the situation, we need to fix our home by addressing the problem of this dead rat. A deep search, proper cleaning utensils and some odor deodorant should aid the cleaning process.
Malawi should properly position itself on the stand of legalizing use of Bitcoin and handling FIAT currencies. The fate of the Malawian Kwacha is sealed and will continue to dwindle, losing its purchasing power as currency supply is never ending always fueled by excessive spending and debt by the government.
This where Malawi must Catch Bitcoin if it can. Loss of purchasing power and currency debasements is an ever-ending circus. Excessive spending is a key feature for governments and when future prosperity is spent presently disasters looming in the future are always unavoidable. So how can Malawi avoid such catastrophes? Allowing Bitcoin side with the Malawian Kwacha, it can combat forex challenges. Bitcoin doesn't have an exchange rate. It is 'the money itself.'
It has a use case backed by
computational power, network and cryptographic integrated security. Nations can
use Bitcoin to exchange value and communicate bilateral agreements without
holding each other’s currencies to facilitate trade.
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| https://malawi24.com/2025/02/28/malawis-public-debt-hits-k16-19-trillion/ |
There's no risking sabotaging the whole nation using primarily one instrument and medium of exchange. Bitcoin can allow Malawi to engage and exchange value, talents, resources and boom emerging markets with Bitcoin provided a framework is put in place to support Bitcoin.
Using Bitcoin, will bypass almost all barriers to access international goods as well as export locally made goods to other countries. Again, Bitcoin offers an alternative to the currency. No forex? No currency printer? Well, no problem, we have a stable alternative that can be used and still have access to international market.
The 'one option only' conveys to limitation. Malawi markets are very vibrant, possibilities are limitless. We have producers who produce more and consume less. The pieces all collapse if there's one firm point holding the entire financial infrastructure.
So, if the dollar collapses, the Kwacha must follow trend. As all FIAT are nothing but IOUs, backed by the faith, trust and reliance of government. When the government seizures, the currency will follow too. Alternatively, this is not the case with Bitcoin. Built in scarcity and difficulty adjustment in its release, it keeps its inflation in check, having an equilibrium supply and creating more demand that brings about stability in the free market. Truth is majority of the citizens panic and worry of faith in the Malawian kwacha.
Everyone complains of high costs of living, that the wage isn't as good and fails to uphold coverage for a family. Adding a side hustle, two or three jobs and shifts, lending capital to farm all as a thousand ways to invade inflation.
As prices will forever continue to soar, the market also keeps an eye and Grasham's Law always takes effect. (Grashams Law, Bad money drives out good money). The MWK 20.00 Malawian currency note could buy some candy back in the days. If we stretch this further it was a wage in the 1930''s to 60's. Today, MWK 20 note barely affords to make any purchase.
At face value its useless
on market, just a paper and a number on it. Some merchants don't accept it,
being the weakest link and can't really purchase anything of value although it
still has legal status and backed by government.
The government through Reserve Bank of Malawi cautioned its citizenry that the MWK 20 note is still legal tender and must be accepted and used and warned those merchants refusing may face the law. Well, I hope I won't face the law with this, Bitcoin may be the answer to questions majority of small-scale businesses have who, constantly question legitimacy and fragility of the Kwacha.
Price shocks ultimately dilute the little gains these businesses make, sending them back to the drawing board with really no insurance, surplus capital or compensation for the flooding Kwacha. Inflation of Kwacha undermines the capital power of these businesses and yet they are the skeleton that hold the muscle of the economy.
Many of these are local vendors who tirelessly roam around in the urban city and rural areas, small shops also called 'Okala' who at many times order goods from other retail and wholesale shops. When price shocks happen, their tables scatter and really have no choice but to also raise their prices. It gets to the point that at times one may not know how much they are they going sell their goods or what price is one going to buy.
On the other hand, Bitcoin which has proven time and again to be stable could protect, insure these businesses against these catastrophes. The deflationary measure can help a portion of their business capital be insured in the form of savings. bitcoin doesn't have a price and can't be measured to a collapsing currency to determine its value.
The underlining statement is 1 Satoshi will always equal to 1 Satoshi, 1 BTC will always equal to 1 BTC. A digital currency with such a store of value feature in its feathers can really be an alternative, a reliable economic container, storing value for a really long time and can safely land any small business enterprise on a flying wheel. So, what’s next...
Lets wrap up on a high note, am not a prophet of doom. I'll share an amazing experience I had with the students i teach at my school. Am huge fan of football & it’s encouraging to see young girls play soccer. At my school, on this particular day, I had fun seeing and cheering them play for a prize and they absolutely went nuts and loved it.
I offered them MWK 10,000 prize, about 5,280 Sats, $5.77 as of writing & the winners took it all. I know one day they will get to understand Bitcoin and why, they will also accept Bitcoin as payment. One day they will have their football kits labelled Bitcoin and own Bitcoin branded football boots and balls.
If you think this is a great idea, share, express your views and suggestions in the comments, I'd be so excited to hear them. Am also a developing rookie blogger, you can rate my pen skills and give any meaningful suggestions.
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| Promoting girls soccer, an enjoyable moment at rural secondary school, Chadabwa CDSS, Mitundu Lilongwe. |
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