Based on the provided data, the number of ATMs in Malawi per hundred thousand persons shows a decreasing trend from 2013 to 2028. Starting from 4.78 in 2013, the number of ATMs peaked slightly in 2014 at 5.05 before progressively declining to 4.22 in 2023. In 2024, the figure is projected to be 4.15 with a continual decrease expected, reaching 3.99 by 2028.
When we examine the year-on-year variations, the trends and annual changes in percentages show significant fluctuations:
- 2013: +7.66%
- 2014: +5.65%
- 2015: +3.17%
- 2016: -4.99%
- 2017: +0.40%
- 2018: -2.41%
- 2019: -2.89%
- 2020: -3.82%
- 2021: -2.65%
- 2022: -2.49%
- 2023: -1.86%
Over the last five years up to 2023, the Compound Annual Growth Rate (CAGR) has been -2.74%, indicating a consistent overall decline. Forecasting from 2024 to 2028, the CAGR is anticipated to be -0.78%, which still suggests a reduction but at a slower rate compared to previous years, with an overall forecasted growth rate of -3.86% over this period.
Future trends to watch for include the impact of digital banking alternatives and mobile banking solutions which may further influence the decline of ATM usage. Additionally, economic factors and regulatory changes could also alter the trajectory of ATM deployment and usage in Malawi. Monitoring these trends will be essential for accurate future forecasting and strategic planning.
