Formal Borrowing Statistics in Malawi (2026)
As of the 2024 data, 6.7% of adults in Malawi borrowed from a formal financial institution, per World Bank Global Findex. Down from 8% in 2021 to 6.7% in 2024 (−1.2 percentage points). Malawi ranks #18 of 36 economies in Sub-Saharan Africa on this measure, and #115 of 142 globally.
Key Statistics
- Latest value (2024)
- 6.7% (2024)
- Formal Borrowing in Malawi as of 2024, the most recent observation in World Bank Global Findex data.
- Change since 2021
- −1.2 pp (2024)
- Down from 8% in 2021 to 6.7% in 2024 (−1.2 percentage points).
- Earliest value in this dataset (2014)
- 6.9% (2014)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Down from 6.9% in 2014 to 6.7% in 2024.
- Peak value (2017)
- 8.6% (2017)
- Highest value in the available series; the 2024 value is 6.7%.
- Rank in Sub-Saharan Africa
- #18 of 36 (2024)
- Malawi ranks 18 of 36 countries in Sub-Saharan Africa with data, based on each country's latest value.
- Global rank
- #115 of 142 (2024)
- Malawi ranks 115 of 142 countries with data globally.
- Sub-Saharan Africa average
- 7.8% (2024)
- Malawi (6.7%) is below the average of 7.8% across the 36 countries in Sub-Saharan Africa with data.
- Internet use in Malawi (2024)
- 19% (2024)
- 19% of the population in Malawi used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 21.7 million (2024)
- Malawi had a population of 21.7 million in 2024 (World Bank); shown for scale only.
Trend, 2014–2024
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2024 | 6.7% | −1.2 pp |
| 2021 | 8% | −0.6 pp |
| 2017 | 8.6% | +1.7 pp |
| 2014 | 6.9% | — |
Frequently asked questions
What share of adults in Malawi borrowed from a formal financial institution?
6.7% of adults in Malawi borrowed from a formal financial institution in 2024, according to World Bank Global Findex data.
How recent is the formal borrowing data for Malawi?
The most recent observation is from 2024. World Bank Global Findex data is reported with a lag, so 2024 is the latest available year for Malawi.
Where does the formal borrowing data for Malawi come from?
The data comes from the World Bank Global Findex (indicator fin22a). The latest observation for Malawi is from 2024; the snapshot was retrieved on 2026-06-10.
How has formal borrowing in Malawi changed over time?
World Bank Global Findex data show a decline from 6.9% in 2014 to 6.7% in 2024.
How does Malawi compare with other countries in Sub-Saharan Africa?
Malawi ranks 18 of 36 countries in Sub-Saharan Africa with data, with 6.7% versus a regional average of 7.8% (latest values per country).
Source & methodology
Source: World Bank Global Findex, indicator
fin22a, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .