The species was originally described in 2012 by B. Juan Chahinian as Sansevieria formosa. However, it was renamedDracaena malawiana in 2018, when all Sansevieria species were moved to the genusDracaena. The species could not be named Dracaena formosa as that name had already been used by W.Bull in 1874 and is now considered a synonym of Cordyline fruticosa.