The Malawi Stock exchange (MSE), has been in existence since 1994 but started equity trading in November 1996 when it first listed National Insurance Company Limited (NICO). Prior to the listing of the first company, the major activities that were being undertaken were the provision of a facility for secondary market trading in Government of Malawi bonds namely, Treasury Bills and Local Registered Stocks. The MSE operates under the Capital Market Development Act 1990 and the Companies Act, 1984. The regulatory legislation of the Stock Exchange will be the Securities Act, which is in its draft form awaiting passing into Law by Parliament. Services Share Trading Bond Trading Civic Education of Capital Markets