information:classification, structural:scholar_edition, structural:summarization, quality:correction
Multi-party democracy (1993–present)

Under pressure for increased political freedom, Banda agreed to a referendum in 1993, where the populace voted for a multi-party democracy. In late 1993, a presidential council was formed, the life presidency was abolished and a new constitution was put into place, effectively ending the MCP's rule. In 1994 the first multi-party elections were held in Malawi, and Banda was defeated by Bakili Muluzi (a former Secretary General of the MCP and former Banda Cabinet Minister). Re-elected in 1999, Muluzi remained president until 2004, when Bingu wa Mutharika was elected. Although the political environment was described as "challenging", it was stated in 2009 that a multi-party system still existed in Malawi. Multiparty parliamentary and presidential elections were held for the fourth time in Malawi in May 2009, and President Mutharika was successfully re-elected, despite charges of election fraud from his rival.

President Mutharika was seen by some as increasingly autocratic and dismissive of human rights, and in July 2011 protests over high costs of living, devolving foreign relations, poor governance and a lack of foreign exchange reserves erupted. The protests left 18 people dead and at least 44 others suffering from gunshot wounds.

The Malawian flag was modified in 2010, altering three colored stripes with the white sun. It existed for a short while until 2012 when the colors of black-red-green of the old flag were restored.

In April 2012, Mutharika died of a heart attack. Over a period of 48 hours, his death was kept secret, including an elaborate flight with the body to South Africa, where the ambulance drivers refused to move the body, saying they were not licensed to move a corpse. After the South African government threatened to reveal the information, the presidential title was taken over by Vice-President Joyce Banda (no relation to Hastings Banda).

In the 2014 Malawian general election, Joyce Banda lost the elections (coming third) and was replaced by Peter Mutharika, the brother of ex-President Mutharika. In the 2019 Malawian general election president Peter Mutharika was narrowly re-elected. In February 2020 Malawi Constitutional Court overturned the result because of irregularities and widespread fraud. In May 2020 Malawi Supreme Court upheld the decision and announced a new election was held on July 2. This was the first time an election in the country was legally challenged. Opposition leader Lazarus Chakwera won the 2020 Malawian presidential election and he was sworn in as the new president of Malawi.