Malawian governments have spent substantial resources on agricultural input subsidies over the years. While achievements can be celebrated, early enthusiasm has begun to wane in the face of underwhelming performance in several key areas. Maize productivity increases have been lower than many expected, and the incidence of poverty has not substantially changed since the introduction of the Farm Inputs Support Program, the current scheme's immediate predecessor. As the current government revises agricultural subsidies, improvements could be made to increase their impact. To help guide this effort, this analysis highlights successes, factors hindering impact, and options for improving the current Affordable Inputs Program.