Identifying Potential Factors That Can Contribute To Malawi’s Sustainable Socio-Economic Growth

Registration ID: IJNRD_182446

Published ID: IJNRD2210095

DOI: Click Here to Get

Catherine Khumalo , Dr.N.Prakash

sustainable Socio--Economy.

According to the World Bank, 2019, The country has an estimated population of 18.6 million, which is expected to double by 2038. Malawi remains one of the poorest countries in the world despite making significant economic and structural reforms to sustain economic growth. The economy is heavily dependent on agriculture, employing nearly 80% of the population, and it is vulnerable to external shocks, particularly climatic shocks. The research aims to evaluate factors that affects Malawi’s socio-economic growth, to assess the potential factors that can enhance Malawi’s sustainable socio economic growth, to bring the awareness of socio-economic development to the nation, and to recommend on how Malawi can develop socio-economically. The research employs the descriptive research design and a quantitative research approach. The questionnaire is the research instrument adopted in this research for data collection. To give every member of a population a known and equal chance of being selected, Probability sampling was adopted, under which the simple random sampling technic was employed in choosing the samples randomly from a group of people. The research targets the rural communities of Malawi with a sample size of 145. The research was analyzed using the statistical package for social sciences (SPSS). The research discovered that Malawi’s economy is affected by limited diversification that is contributed by lack of adequate technology and low literacy levels. Financial markets sensitization and investments is another potential but essential factor for Malawi’s sustainable socio-economic growth. Therefore, Societies should adopt emerging trends in technology to strive in the emerging world, financial market sensitization should be made a priority by the issuing companies, government should introduce knowledge rich programs to bring in new ideas and broaden way of thinking, and government, to enhance development should promote innovative activities.

Published Paper   E-Certificate

Catherine Khumalo & Dr.N.Prakash (October-2022). Identifying Potential Factors That Can Contribute To Malawi’s Sustainable Socio-Economic Growth. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 7(10), 786-792. https://ijnrd.org/papers/IJNRD2210095.pdf

Volume 7 Issue 10, October-2022

Pages : 786-792

Paper Reg. ID: IJNRD_182446

Published Paper Id: IJNRD2210095

Downloads: 000121985

Research Area: Commerce

Country: Lilongwe, Lilongwe, Malawi

Published Paper PDF: https://ijnrd.org/papers/IJNRD2210095.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2210095

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

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