Malawi ranked among top three FDI Destinations

Rwanda, Ghana and Malawi came out as the top destination countries for foreign investors in Africa in terms of cost effectiveness. These top three countries had cost advantages with regard to registering a property, office and industrial costs, as well as having low minimum wages. READ MORE

Malawi Tea Doing Well

Earnings from tea, Malawi's second-biggest foreign exchange earner after tobacco, and from coffee are set to rise this year due to strong rains, a senior agriculture official said on Sunday. READ MORE

South African firm to invest USD 10 million in Malawi niobium project

The South African engineering firm Thuthuka has agreed to invest USD 10.6 million in a JV to develop the Kanyika niobium project in Malawi, owned by ASX listed Globe Metals & Mining.

The investment would fund about 85% of the estimated costs of the bankable feasibility study into the niobium project, which would start immediately. The bankable feasibility study was likely to be completed by December next year. For its USD 10.6 million investment, Thuthuka would earn a 25% interest in the project. READ MORE

Standard Bank Malawi First-Half Profit Doubles on Loan Growth

Standard Bank Ltd. of Malawi said first-half profit jumped 103 percent on growth in loans.

Profit climbed to 1.330 billion Malawi kwacha ($9.5 million) in the six months through June, from 656 million kwacha a year earlier READ MORE

Paladin makes first drawdown

 Paladin Energy Ltd ("Paladin" has just  announced the first drawdown of US$84.5M under the Kayelekera Project Financing Loan (Facility).

The Kayelekera Uranium Mine is currently in its production ramp-up phase. The first drawdown will be reimbursed to Paladin Energy Ltd for funds spent on completing the project, with the remainder of the Facility to be applied to the Project and working capital expenditure. READ MORE

Kanyika mine to supply unnamed client with 1 000 t/y of niobium

Australian mining junior Globe Metals 
 & Mining has signed a deal in terms
 of which it will supply an international 
client with 1 000 t of ferroniobium each year when its Kanyika niobium mine, in Malawi, attains full production, a milestone expected to be reached in 2012. READ MORE

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Australian mining junior Globe Metals 
 & Mining has signed a deal in terms
 of which it will supply an international 
client with 1 000 t of ferroniobium each year when its Kanyika niobium mine, in Malawi, attains full production, a milestone expected to be reached in 2012.

Malawi inflation slows to 8.0 pct y/y in July

LILONGWE (Reuters) - Malawi's headline inflation slowed to 8.0 percent year-on-year in July from 8.4 percent in June on a further easing in food prices, the National Statistical Office (NSO) said on Thursday READ MORE

Mozambique, Malawi to launch a study on waterway project

Malawi and Zambia will sign a memorandum of understanding to carry out a thorough feasibility study of a multi-million dollar waterway by the end of August, Mozambique Foreign Affairs Minister told reporters after official talks with Malawian President Bingu wa Mutharika in Maputo on Tuesday. READ MORE, and MORE 

Malawi: Bingo Wa Mutarika in Maputo On Official Visit

The President of Malawi, Bingo wa Mutarika, arrived in Maputo this Monday for a three-day official visit to Mozambique,to strengthen the existing ties of friendship and cooperation between both countries.

On his arrival at the Maputo International Airport, Mutharika was welcomed by his Mozambican counterpart, Armando Guebuza READ MORE

Shipping of Mozambique’s Moatize coal via Nacala port is viable but costly option

Maputo, Mozambique, 10 Aug – The management of Mozambique’s Northern Development Corridor (CDN) welcomes the possible shipment of coal from the Moatize mines through the deepwater port of Nacala but this option is not one of the venture’s priorities, the company’s CEO has said. READ MORE

New K3bn tobacco factory opens in LL

A new K3 billion tobacco processing factory has opened at Kanengo Heavy Industrial Site in Lilongwe under the joint venture between the Tobacco Association of Malawi (Tama) and tobacco merchants, Premium Tama Tobacco Limited. READ MORE

Malawi's AGOA exports falling

Malawi's exports to the US through the African Growth and Opportunity Act (AGOA) have fallen for the last two years and government has said it will jack up its actions to improve the situation. READ MORE

Malawi delay slows Illovo profit growth

Malawi's delay in signing an economic partnership agreement with the EU had reduced profit levels for Illovo Sugar, chairman Don Macleod said yesterday. READ MORE

Malawi sees inflation at 9 pct maximum: finance minister

Malawi's headline inflation is likely to be 9 percent or lower in the coming 12 months due to more stable food prices, the finance minister said on Thursday. READ MORE

Paladin falls short of production guidance

Paladin Energy Ltd. quietly provided its year-end production update on Thursday, after delays at one of its mines in Africa caused the company to fall short of its full-year production guidance by about 260,000 pounds.

The uranium miner's Kayelekera plant in Malawi, southeast Africa, was forced to shut down to implement modifications and tweaking during the commissioning phase. In the fourth quarter (Paladin's fiscal year-end is in June) Kayelekera produced only 35,000 pounds of triuranium octoxide, a common uranium compound, versus the expected 350,000 pounds. READ MORE

The new gold: Lost Malawi to hit the shelves of Waitrose

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Tea as your grandparents would have drunk it is on its way to the UK for the first time in over a hundred years. Lost Malawi, a hand-crafted pure black tea, will be on the shelves at Waitrose in November, exported from the first African single-estate tea grower. Henrietta Lovell, a former corporate finance expert, runs the Rare Tea Company which imports the tea from Malawi. READ MORE