Total confirmed Covid deaths currently stand at 230,000. But total mortality data, where available, points at excess mortality of around 50% to 100% more than that. That puts
current mortality somewhere between 300,000 and 500,000. Malaria deaths are also around 400,000 says Wikipedia. But, crucially, that's
annual death. Even in the optimistic case of Covid deaths currently being at their peak and going down as fast as they grew on the way up, total deaths are double Malaria's. And looking at the graphs, it doesn't seem like it's receding symmetrical to its growth.
As to regional differences, see here for some recent excess-mortality data that includes Ecuador and Brazil, two countries that don't have Malaria but share some characteristics with countries that do, such as climate and relative poverty: https://www.ft.com/__origami/service/image/v2/images/raw/htt...
This isn't going to spare the countries affected by Malaria, except that some of them have a demographic advantage.
The only redeeming factor in Covid's favour is that mortality isn't the only, and possibly not even the most important, harm of Malaria: Just like Covid, it kills only a minority of those infected. But survivors sometimes suffer chronic relapses, enduring symptoms such as fatigue, and, in children, cognitive deficits.