This article takes an in-depth look at the top 10 richest people in Malawi this year. Their net worth, drawn from reputable sources such as Forbes and Bloomberg, has been included in this rich list. Among the wealthiest Malawians featured are Hitesh Anadkat, Thom Mpinganjira, Jimmy Korea Mpatsa, and Simbi Phiri, among others.
We all know that wealth and influence often go hand in hand. This is even more practical when it comes to developing economies such as Malawi. While the country grapples with widespread poverty and underdevelopment, a handful of individuals have amassed significant fortunes through business acumen, strategic investments, and in some cases, political ties. These ultra-wealthy Malawians play critical roles in shaping the nation’s financial services, infrastructure, agriculture, and real estate sectors.
According to publicly available data, Malawi currently has no billionaires listed on the Forbes Billionaires Index. However, this does not mean that there are no rich people in Malawi. Data shows that there is a growing number of multi-millionaires in Malawi who are reshaping the country’s economic landscape, with fortunes stretching from banking and insurance to construction and media.
At the top of the list in 2026 is Hitesh Anadkat, whose stake in FMB Capital Holdings has skyrocketed thanks to a 153.96% rally on the Malawi Stock Exchange. His net worth, now estimated at $920 million, places him far ahead of his peers and cements his position as the wealthiest person in Malawi.
Key Takeaways
Hitesh Anadkat holds the first position among Malawi's wealthy group. He founded First Merchant Bank (FMB) in 1995 and transformed it into FMB Capital Holdings, now headquartered in Mauritius with operations across southern Africa. Known for his deep understanding of banking markets, Anadkat capitalized on regional economic growth to expand into other countries such as Zimbabwe, Botswana, Zambia, and Mozambique.
In 2026, investor confidence in FMB Capital Holdings soared, driving its share price up by over 150%. This surge significantly increased Anadkat’s net worth, with his 45.32% ownership now valued at over MWK 1.57 trillion ($906.17 million). Anadkat has also been active in philanthropy, particularly in education and health projects throughout Malawi.
Dr. Thom Mpinganjira is a seasoned entrepreneur and the architect behind FDH Bank. This particular bank is one of the largest commercial banks in Malawi. His investment vehicle, M Development Ltd, holds a significant 40.7% stake in FDH Bank, currently worth MWK 1.19 trillion ($687 million).
Despite a controversial conviction in 2021 for attempting to bribe judges during the 2019 presidential election dispute, Mpinganjira’s wealth has remained intact. His influence extends beyond banking into philanthropy, where he has supported education and healthcare initiatives. His family continues to be deeply involved in both business and charitable activities.
Simbi Phiri is the founder of Khato Civils, a Pan-African infrastructure company specializing in large-scale water and energy projects. His company has led major developments like the $351 million Salima–Lilongwe Water Supply Project in Malawi and a 100-kilometer pipeline project in Botswana.
Born in Malawi but based in South Africa, Phiri built his company from the ground up and has become a symbol of regional entrepreneurial success. His wealth stems largely from government contracts, engineering consultancy, and cross-border business operations.
Jimmy Korea Mpatsa is a diversified investor and the head of Mpatsa Holdings, a conglomerate with interests in tourism, real estate, and agriculture. With ownership of multiple lodges, farms, and transport companies, Mpatsa is regarded as one of the pioneers of private-sector diversification in Malawi.
Beyond business, Mpatsa is known for mentoring young entrepreneurs and championing economic development beyond traditional sectors like farming. His emphasis on value addition and sustainable enterprise has earned him widespread respect.
A veteran of Malawi’s insurance and banking sector, Vizenge Kumwenda is credited with transforming NICO Holdings into a regional powerhouse. With a personal stake worth over MWK 41.76 billion ($24 million), he also holds a smaller position in NBS Bank.
Kumwenda’s career reflects a steady rise through the ranks of Malawi’s financial system, and he is often recognized for modernizing financial services in the country. He is also involved in financial literacy programs and microfinance advocacy.
Nathan Mpinganjira, brother to Thom Mpinganjira, holds a 5.02% stake in FDH Bank, valued at over MWK 109 billion ($62.7 million). While less high-profile than his brother, Nathan’s position underscores the Mpinganjira family’s deep entrenchment in Malawi’s financial industry.
His interests span real estate and education, and he remains a quiet but influential player behind the scenes in corporate finance circles.
Abraham John Simama is a unique blend of entrepreneur, religious leader, and philanthropist. He runs Simama Industries and owns the Simama Hotel, one of Lilongwe’s most prominent hospitality establishments.
As senior pastor at Glorious Light International Church, Simama uses his platform for social impact, while also serving as chairman of the Northern Region Football Association. His interests range from agriculture to construction, and his ventures have created hundreds of jobs.
Ramesh Savjani is a longtime player in Malawi’s insurance and agribusiness sectors. With a sizable stake in Illovo Sugar Malawi valued at MWK 20.09 billion ($11.5 million), he also heads General Alliance Insurance, a company known for innovative risk solutions.
Savjani has also served in advisory roles to government bodies and is recognized for contributions to policy development in the private sector.
Gospel Kazako transitioned from journalism to media entrepreneurship, founding Zodiak Broadcasting Station (ZBS) in 2005. Today, ZBS operates nationwide and includes both radio and TV platforms.
Kazako’s media empire has made him one of Malawi’s most influential communicators. He currently serves as Minister of Information, balancing public service with private enterprise.
Natasha Nsamala is a rising star in Malawi’s corporate and healthcare sectors. As CEO of MBTS, she has revolutionized national blood services while quietly building a portfolio that includes a 0.65% stake in NICO Holdings, worth over MWK 5.63 billion ($3.24 million).
Nsamala is a symbol of female leadership in Malawi’s boardrooms and is actively involved in public health policy advocacy.
As of 2026, Hitesh Anadkat holds the title of the richest individual in Malawi. With a controlling stake in FMB Capital Holdings and a net worth estimated at $920 million, Anadkat has capitalized on regional banking growth and market performance to lead the wealth rankings.
Natasha Nsamala ranks as the richest woman in Malawi in 2026, with a net worth of approximately $8 million. Her combined influence in public health and financial services signals a growing trend of female empowerment in traditionally male-dominated sectors.
If you are a young person hustling in Lilongwe, Salima, Blantyre or Zomba and your dream is becoming the richest person in Malawi then you have to beat the $920 million mark that has been set by Hitesh Anadkat. Just remember that the world is now digital and even if you come from Bangula or Mzimba, you can become the richest person in your country;Malawi. For now, none of these wealthy individuals have made to the Forbes rich list but that can be you.
It is also imperative to check out the leading industries in your country and know the sectors that have more money. For malawi, if you want to make a lot of money, then you have to start your career or entrepreneural journey in either the financial sector, infrastructure, media or healthcare as majority of the richest people are operating in these industries.
As we come to an end, these stories are proof that fortune in Malawi isn’t solely reserved for outsiders, it’s being created every day by those willing to think big, take action, and lead.
I am Eddah, a professional blogger specializing in wealth analysis and financial insights. As a contributor to Fineducke.com, I explore the world’s richest individuals, their net worth, and financial moves shaping economies. With a keen eye for detail, I turn complex data into engaging, easy-to-read content that informs and inspires
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I'm so happy that in Malawi we have the richest people today. Remember to love also GOD and your neighbors so that GOD can continue to bless you, brothers and sisters. In addition to that, make Malawi be in the top 10
Thank you