Firm seeks partners in K14bn mall project – The Nation Online: Fisd Limited is seeking financial partnership in the construction of an ambitious Area 43 Mall, a project the Lilongwe City Council has described as a game changer.
The proposed two-storey building project to be constructed on a 2.2 hectares, is expected to start in June this year and will be completed in December 2021 to open for business in January 2022.
Business and Economic News from Malawi
Monday, January 20, 2020
Saturday, January 18, 2020
Govt sweats on Khato deal – The Nation Online
Govt sweats on Khato deal – The Nation Online: A flurry of meetings—including ministerial level gatherings—show how government is leaving no stone unturned to walk away from the K400 billion Salima-Lilongwe Water Supply project.
But Capital Hill is facing a tenacious contractor in Khato Civils, who has given government 14 days to come back to the negotiation table or it will refer the matter for court arbitration.
But Capital Hill is facing a tenacious contractor in Khato Civils, who has given government 14 days to come back to the negotiation table or it will refer the matter for court arbitration.
Friday, January 17, 2020
Limbe Leaf shuts Blantyre factory - The Times Group Malawi
Limbe Leaf shuts Blantyre factory - The Times Group Malawi: There are fears that 96 employees of Limbe Leaf Tobacco Company may lose their jobs following a decision to shut down the company’s leaf tobacco processing facility in Blantyre.
The company announced in a statement last week that it has closed its Blantyre factory operations and has moved specialised operations to the company’s main factory in Lilongwe in preparation for the commencement of the 2020 tobacco processing season.
The company announced in a statement last week that it has closed its Blantyre factory operations and has moved specialised operations to the company’s main factory in Lilongwe in preparation for the commencement of the 2020 tobacco processing season.
Wednesday, January 15, 2020
Mkango subsidiary buys into UK magnet recycling firm HyProMag | Sharecast.com
Mkango subsidiary buys into UK magnet recycling firm HyProMag |
Mkango Resources announced on Friday that its subsidiary Maginito has completed the acquisition of an initial 25% interest in HyProMag - a private, UK-based company focussed on rare earth magnet recycling, as it initially announced on 23 September.
FTSE AIM All-Share
970.90
15:40 15/01/20
0.12%
1.16
The AIM-traded firm said Maginito invested an initial �0.3m for a 25% interest in HyProMag, and had an option to invest a further �1m to increase its interest up to 49%.
Mkango Resources announced on Friday that its subsidiary Maginito has completed the acquisition of an initial 25% interest in HyProMag - a private, UK-based company focussed on rare earth magnet recycling, as it initially announced on 23 September.
FTSE AIM All-Share
970.90
15:40 15/01/20
0.12%
1.16
The AIM-traded firm said Maginito invested an initial �0.3m for a 25% interest in HyProMag, and had an option to invest a further �1m to increase its interest up to 49%.
Tuesday, January 14, 2020
World bank lowers 2020 growth to 4.8% – The Nation Online
World bank lowers 2020 growth to 4.8% – The Nation Online: The World Bank has projected that Malawi’s economy will grow by 4.8 percent this year, which is 2.2 percentage points lower than Malawi Government’s ambitious projection of seven percent.
The Bretton Woods institution’s projection is premised on weather shocks and political instability folowing the disputed May 21 Tripartite Elections whose presidential race outcome is being contested in court.
The Bretton Woods institution’s projection is premised on weather shocks and political instability folowing the disputed May 21 Tripartite Elections whose presidential race outcome is being contested in court.
Cotton farmers plan to produce 50 000MT – The Nation Online
Cotton farmers plan to produce 50 000MT – The Nation Online: Cotton farmers target to produce 50 000 metric tonnes (MT) of the crop in the 2019/20 growing season, a jump from last year’s 7 000MT.
The sector could generate K2 billion
The sector could generate K2 billion
Employers call for economic diversification from raw produce – The Nation Online
Employers call for economic diversification from raw produce – The Nation Online: Employers Consultative Association of Malawi (Ecam) has added weight to calls for investments in sectors other than agriculture which has been persistently underperforming in recent years, denting the country’s economic growth.
Ecam, an apex body which represents employer interests, said as part of medium-term plans, it wants to work with government and other stakeholders in diversifying the economy into manufacturing and agro-processing as opposed to depending on tobacco and raw agriculture produce only.
Ecam, an apex body which represents employer interests, said as part of medium-term plans, it wants to work with government and other stakeholders in diversifying the economy into manufacturing and agro-processing as opposed to depending on tobacco and raw agriculture produce only.
Wednesday, January 8, 2020
Chileka Airport runway now open – The Nation Online
Chileka Airport runway now open – The Nation Online: Renovations on the Chileka International Airport runway have been completed and the airport is now open to big aircrafts, the airport management has confirmed.
The airport was temporarily closed to big aircrafts on April 2019 to allow for renovations� after it developed cracks, raising safety concerns particularly by South African Airways (SAA) which announced it would halt flights to Blantyre until the situation was rectified.
The airport was temporarily closed to big aircrafts on April 2019 to allow for renovations� after it developed cracks, raising safety concerns particularly by South African Airways (SAA) which announced it would halt flights to Blantyre until the situation was rectified.
Friday, January 3, 2020
Malawi: Airtel Share Sale On Malawi Stock Exchange Under Intense Scrutiny - allAfrica.com
Malawi: Airtel Share Sale On Malawi Stock Exchange Under Intense Scrutiny - allAfrica.com: Multi-national mobile telecommunications network operator Airtel management decision to sell shares in the company has attracted mixed reactions as well as intense scrutiny with some Malawians already expressing reservations.
Aitel is offering a total of 2.2 billion shares at a price of K12.69 per share on the Malawi Stock Exchange (MSE), allowing the public for the first time to own part of the telecommunications firm.
he company's offer represents Malawi's largest Initial Public Offer (IPO) in the history of MSE listing.
Aitel is offering a total of 2.2 billion shares at a price of K12.69 per share on the Malawi Stock Exchange (MSE), allowing the public for the first time to own part of the telecommunications firm.
he company's offer represents Malawi's largest Initial Public Offer (IPO) in the history of MSE listing.
Chinese miner puts chiefs on payroll | Malawi 24 - Malawi news
Chinese miner puts chiefs on payroll | Malawi 24 - Malawi news: HOME
BUSINESS
Chinese miner puts chiefs on payroll
Chinese miner puts chiefs on payroll
Jan 03, 2020 Richard Jimu Business 0
A Chinese mining firm in Chitipa pays 21 chiefs in the district a monthly ‘allowance’ despite locals accusing the company of failing to implement corporate social responsibility programmes.
Center for Investigative Journalism in Malawi (CIJM) reported that Ilomba Mining Company which mines gemstone gives K20,000 to each of 21 chiefs under Traditional Authority Mwawulambya
BUSINESS
Chinese miner puts chiefs on payroll
Chinese miner puts chiefs on payroll
Jan 03, 2020 Richard Jimu Business 0
A Chinese mining firm in Chitipa pays 21 chiefs in the district a monthly ‘allowance’ despite locals accusing the company of failing to implement corporate social responsibility programmes.
Center for Investigative Journalism in Malawi (CIJM) reported that Ilomba Mining Company which mines gemstone gives K20,000 to each of 21 chiefs under Traditional Authority Mwawulambya
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