Address By The Governor, Dr Wilson T Banda 5TH BANKERS CONFERENCE Amaryllis Hotel, Blantyre 8th October 2020

Reserve Bank of Malawi

Address By

The Governor, Dr Wilson T Banda

5TH BANKERS CONFERENCE

Amaryllis Hotel, Blantyre

8th October 2020

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• Mr Kwanele Ngwenya, President of Bankers Association of Malawi;
• Mrs Zandile Shaba, Chairperson of Institute of Bankers;
• Chief Executives of all banks in Malawi, here present;
• Speakers;
• Distinguished Delegates;
• Ladies and Gentlemen

Good morning

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1. It gives me great pleasure to address

the 5th Bankers Association conference on the theme "Surviving Volatility, Uncertainty, Complexity and

Ambiguity" (VUCA) for short.

What happened?

2. Ladies and gentlemen, as we all know the Corona Virus (Covid-19)pandemic has significantly affected our day-to-daylives. I wish to express regret for the loss of lives and livelihood that the pandemic has

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caused; and May Their Souls Rest in Peace.

3. Ladies and gentlemen, the Covid-19has weighed negatively on our economies. Its effects have been evident in unprecedented decline in global consumption and output; triggered by lockdowns, travel restrictions, social distancing rules, and disruption to supply chains. There have been job losses and

corporate closures, creating

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