How to buy your first share on the Malawi Stock Exchange

• Getting Started
• 3 min read
• Published Tue 28 Jul

By

An IPO — a company selling new shares to the public, with a form and a deadline — is a rare event here; a brand-new company only joins the exchange every few years. This guide is about the other way, the one that's open every trading day, for any company already listed: buying on the open market through a broker. Once you can do this, you're never waiting for an IPO again.

One thing first. MSE Today doesn't sell shares — we're an information and portfolio app. We can't take your money or buy for you, and nothing here is advice about which share to buy. That's your call, with your budget, and a licensed stockbroker is the person to talk it through with.

Find your broker

Every trade goes through a licensed stockbroker — you can't buy shares off a shelf. There's no minimum to open an account, and it's all done by email or online, so the diaspora can invest just as easily. The app's broker directory lists the licensed brokers, their current phone numbers and emails, and what each needs to open an account. Not sure who to pick? Email one and ask — they set up first-timers every week.

Open your account

This also opens your CSD account — the electronic account your shares live in (no paper certificates). Free to open. You'll bring your National ID or passport (an expired ID is often fine), a recent payslip or bank statement, a utility bill, and a beneficiary form (the broker provides it). It can take a few days, so start it before the day you want to buy.

Decide what, and how much

The minimum is one share — no forced batches. Every purchase carries brokerage fees plus VAT. There's no minimum beyond the price of one share plus fees. Because fees are charged on each purchase, they take a bigger share of a small order. Some people buy a small amount every month; others buy once. Either way, fees are charged on each purchase, so very small buys cost more in fees.

Place the order

Tell your broker the company and the amount. Your order joins the order book and fills when a seller's price meets yours — on a thin market it may not be instant, and that's normal. Trading runs 09:30–14:30, Mon–Fri (CAT).

Settlement, and after

Once it fills, the shares are yours, but the paperwork settles over the next few trading days (T+3) — they land in your CSD account, and your broker sends a deal note. Then log the holding in your MSE Today portfolio and track it.

Getting out

Know the cost before you're in: when you sell, a 2% withholding tax comes off the whole sale amount (not just your gain) — automatic, via your broker, since 27 February 2026.

Only ever buy through a licensed broker. Anyone offering to invest for you for a cut, asking for a personal account, or promising guaranteed returns — walk away. General information about how buying shares works, not financial advice, and not a recommendation to buy any share. Fees and taxes can change — confirm the current details with your licensed stockbroker. MSE Today is an information and portfolio app; we don't sell shares.