Malawi seems unwilling to budge, with the Malawian delegation leader, Malawi Foreign Minister claiming that
“This is not a historical question or one of mere recognition”, Chiume said. “It's a fact that the lake belongs to Malawi. Since the colonial epoch this was clear, and it was admitted at the time of the independence of our countries”. He claimed that, unless the Malawian claim was accepted, the frontiers of all African countries would be under threat.Another reason may possibly be the significant hydrocarbon deposits recently identified on the bed of the lake.
If this mediation fails, the case will go to the International Court of Justice. More here.