University graduates challenged to close inequality gap

By Bester Kayaye

Graduating economic students at the University of Malawi have been challenged to close the increasing gap between the rich and the poor in the country.

Earlier studies indicate that the gap between the richest 10 percent of Malawians and the poorest 40 percent continues to increase with more that 70 percent of the population living on less than $1.90 a day.

Apart from poor economic policies, the country faces regular shocks that destabilize the country’s finances leaving it constrained

Oxfam in Malawi last Friday stressed the need for the country to realign its public finance management systems with Vision 2063 if the vision is to yield the desired fruits.

Speaking last Friday to University of Malawi 2022 graduates at an Economics Symposium, Oxfam (Malawi), country director Lingalireni Mihowa underscored that efficient public finance management systems is a core element of any country to safeguard sustainable economic growth and in the case of Malawi that it should reflect Vision 2063.

“On behalf of OXFAM, I implore the graduates to be serious in public finance management since I am sure most of them will be taken into the public sector while others will be running their enterprises which directly or indirectly involves public finance administration,” said Mihowa

She said: “Public finance management is a key aspect of any country and we encourage them to be vigilant in assisting government on best public finance policies to undertake.

Mihowa also reminded the graduates that the Vision 2063 is actually their vision and so they must make sure to put all necessary measures t achieve it. She further asked them to be frint soldiers in handing the country’s economic challenges including inequalities by devising new models of administering public resources.

“Being new graduates the country is expecting effective research, new knowledge and innovations to complement strides aimed at attaining the vision and curbing myriad challenges the country is facing,” She said

Malawi faces a lot of social and economic challenges being exacerbated by the ever increasing gap between the rich and the poor, according to an Oxfam study also confirmed by studies conducted by National Statistics Office (NSO).

“There is need to question some of the economic policies being adopted and to be able to derive ways of which the country can achieve inclusive growth, so that we tackle poverty and inequality simultaneously,” said the Oxfam chief.

She also urged the economic graduates to shun away from corrupt practices once ushered into diverse key offices by exercising integrity which is a key guide of partial execution of duties

“It is this generation that has been caught in serious allegations of in Malawi, but I urge them to be of high integrity,” he said and further advised government to resourcefully strengthen oversight institutions trusted with the role of tackling corruption

In his remarks, Head of economics department at UNIMA, Jacob Mizalale said the new graduates have come at a critical time when the country is struggling with almost all aspects of the economy, a situation that indeed requires fresh ideas.

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