Malawi Parliament Enacts ESOMA Bill to Regulate Economists

Malawi’s parliament approved the Economics Society of Malawi (ESOMA) Bill, creating an independent professional body to register, regulate and discipline economists. The legislation was presented by Finance Minister Joseph Mwanamvekha, who noted that the existing Economics Association of Malawi (ECAMA) lacked legal authority to enforce standards. Support came from MCP spokesperson Arthur Sungitsa and parliamentary committee chair Sosten Gwengwe, who said the bill will strengthen professionalism and public confidence.

The ESOMA Bill was part of a busy legislative session that also saw the passage of amendments to the Deposit Insurance Corporation, Payment System and Financial Crimes laws. The session concluded early after all government business was completed, marking a significant step toward modernising regulation of Malawi’s economic and financial sectors.