A Day at RBM: Educational Visit for 4th-Year Actuarial Science Students

In the course of their studies, University of Malawi students often have the opportunity to interact with and gain firsthand experience from potential employers. Not only do they acquire valuable experience, but they also showcase the skills and knowledge they have acquired during their years at the University. This is what happened on 24th November, 2023, when fourth year students from the School of Natural and Applied Sciences, specifically those pursuing Actuarial Science, visited the Reserve Bank of Malawi offices in Blantyre.

During the visit, students learned from notable presenters, including a Senior Monetary Policy Analyst, a Senior Dealer, a Government Debt Operations Expert, a Chief Examiner, and officers dealing with Pension and Insurance, among others. The presenters covered various topics which included Derivative Markets, Interest Rate Determination in Malawi, Overview of the Financial Sector, and Regulation of Pension Funds. The goal was to help students understand and relate these topics to what they learn in the classroom.

Throughout the sessions, presenters encouraged students to share their expectations. Students eagerly participated in the discussions, asking probing questions, which providing presenters with insight into what additional subjects to address. Some of the issues that the students raised queries on included the reasons behind the devaluation of the Kwacha, as well as the impact of inflation on shares, treasury bills, and bonds. The students expressed satisfaction with the answers they received from the presenters. For instance, in response to one of the questions on devaluation, the presenters clarified that the Kwacha is not devalued haphazardly but rather in response to imbalances in the country’s imports and exports.

One of the students, Mr Gift Tayali, conveyed gratitude to the RBM presenters for the insightful session. “As an Actuarial Science student, the experience has exposed us to the practical application of concepts learned in class, such as those regarding pensions and financial markets,” he said.

Another student, Ms. Rennie Kilembe, also expressed her satisfaction. She mentioned that the presenters addressed significant issues that had not crossed the students’ minds before. She further stated that the way the presenters explained the concept of devaluation completely changed her perspective. She confirmed how she now sees the positive side of devaluing the Kwacha based on the insights gained during the session.

The Senior Monetary Policy Analyst, Mr. Chikumbutso Gareta, commended the students for their brilliant participation throughout the entire session. He also stated that engaging with both academic and non-academic institutions aligns with RBM’s goals of communicating the organization’s activities to a diverse audience, allowing them to receive valuable feedback from citizens.