Malawi’s banana value chain is at a pivotal stage, showing clear evidence of recovery, rising profitability, and strong policy and investment interest. However, sustained growth and competitiveness depend on addressing persistent structural constraints through an integrated reform stack: investments in clean planting material, irrigation infrastructure, and commercial orchard management. Our analysis demonstrates that these combined reforms are projected to significantly reduce Malawi's reliance on imported bananas, strengthen producer and trader incomes, and improve the domestic value chain's competitiveness. Furthermore, while most economic benefits accrue directly within the value chain itself due to relatively weak inter-industry linkages, these reforms generate meaningful economy-wide welfare gains through higher labour productivity, increased rural incomes, and reduced poverty.