The flag of Malawi was adopted on July 6, 1964.
The rising sun represents the dawn of hope and freedom for the continent of Africa (when the flag was created, countries in Africa were just beginning to be granted independence). The black represents the indigenous people of the continent, the red symbolizes the blood of their struggle, and the green represents nature.
The flag resembles the pan-African flag designed by Marcus Garvey's UNIA, with the red and black bands reversed and a red sun in the top. It also resembles the flag of the now-defunct Republic of Biafra.
Malawi has now reverted back to their 1964-2010 flag. Please see below for a link.