World Bank Group : World Bank Unveils New Country Assistance Strategy to Support Malawi’s Economic Growth and Transformation

World Bank Group : World Bank Unveils New Country Assistance Strategy to Support Malawi’s Economic Growth and Transformation
01/29/2013| 05:13pm US/Eastern
WASHINGTON, 29 January, 2013 - The World Bank Group has released its new Country Assistance Strategy (CAS) to support Malawi's effort to diversify the economy and make it more competitive and resilient to shocks. The four-year CAS, which was discussed by the Bank Board of Executive Directors today, will cover the 2013 to 2017 financial years, and proposes an indicative envelop of US$ 695 millio"

World Bank Group : World Bank Unveils New Country Assistance Strategy to Support Malawi’s Economic Growth and Transformation: "

Intra Energy: New Coal Development in Malawi | Mining in Malawi

: "INTRA ENERGY: NEW COAL DEVELOPMENT IN MALAWI
26 January 2013 · by Mining in Malawi · in Malcoal (Malawi Coal Mining). ·
Intra Energy, an Australian-based mining and energy company with major thermal coal assets in Tanzania, has acquired coal licences for an operational mine in Malawi as well as exploration licences for further sites."

'TO READ MORE

Intra Energy starts coal mine development in Malawi

Intra Energy starts coal mine development in Malawi: "ntra Energy has progressed its Eastern African regional expansion strategy by acquiring coal licences including that of an operational mine in Malawi.

The concessions include the operating Nkhachira Coal Mine within Mining Licence ML0143/2005 and three Exclusive Prospecting Licences (EPL), located in the north of Malawi, west of the town of Karonga.
"

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Ethiopian to start new services to Blantyre - Airline News - etravelblackboardasia.com

Ethiopian to start new services to Blantyre - Airline News - etravelblackboardasia.com:

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Ethiopian to start new services to Blantyre - Airline News - etravelblackboardasia.com

Ethiopian to start new services to Blantyre - Airline News - etravelblackboardasia.com: "Ethiopian to start new services to Blantyre
Friday, 25 January 2013
Ethiopian Airlines, the fastest growing airline in Africa, is pleased to announce that it will commence three weekly flights to Blantyre starting March 31, 2013.
Blantyre is the commercial and industrial capital of Malawi. It will be Ethiopian 44th destination in Africa and the second in Malawi next to Lilongwe."

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Malawi Kwacha Weakens to Lowest Since 1993 as Reserves Dwindle - Bloomberg

Malawi’s kwacha, the worst- performing currency this year, dropped to its lowest in almost a decade as the Southern African country’s reserves continue to dwindle."

Malawi Kwacha Weakens to Lowest Since 1993 as Reserves Dwindle - Bloomberg

Economic recovery doubted

The Farmers Union of Malawi (Fum) says the Economic Recovery Plan (ERP) implemented by government will not yield any significant results this year as nothing new has been done to boost exports.

Jumbe's comments come barely a few weeks after Finance Minister Ken Lipenga said that the ERP is bearing fruits.

Fum President Felix Jumbe told The Daily Times yesterday that the whole reason Malawi has found itself in an economic mess is because the country has been struggling to raise enough forex through increased exports."
Economic recovery doubted:
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Ministry backtracks on mining licences

Mining Minister John Bande says government has not completely suspended the renewal of mining and exploration licenses to investors, backtracking on an earlier statement he made last week that his ministry was not renewing licenses until a review is made on how the expired licenses were acquired.

This week Bande confirmed extending the exclusive exploration licence (EPL) for Mkango Resources Limited, a company that is searching for rare earths at Songwe Hill in Phalombe."
Ministry backtracks on mining licences:

Malawi civil servants to go slow: two day strike planned for February | www.malawitoday.com

As the Joyce Banda administration ponders its response to the January 17 consumers’ petition, the Civil Servants Trade Union (CSTU) says it will stage on a two-day stay-away on February 11 and 12 over poor working conditions and lack of communication on staff grievances from Capital Hill.

In an exclusive interview with The Nation this week, CSTU president Eliah Kamphinda-Banda  argued poor conditions of service will pile pressure on a President already battling the backlash of free-market policies and a tough austerity budget that have dramatically increased the cost of living and pushed more people into poverty, hence the January 17 demonstration."

Malawi civil servants to go slow: two day strike planned for February | www.malawitoday.com: "

Malawi s economy faces more battering

: "Malawi's economy faces more battering


Windhoek - Malawi’s ailing and donor-dependent economy faces further battering, as poor performance in the key agricultural sector, rising inflation and a widening current account deficit accelerate the country’s economic downturn.

Malawi’s gross domestic product (GDP) is expected to shrink further to below two percent in 2012 from 9.7 percent in 2008"

Southern Times-Malawi s economy faces more battering

Paladin to retrench 110 workers in Malawi’s Kayerekela mine | Nyasa Times Malawi breaking news in Malawi

By Thom Chiumia, Nyasa Times

Australian uranium miner Paladin Energy would restructure the mining operations at Kayelekera in Karonga that would result in the retrenchment of 110 employees.

The miner confirmed to Nyasa Times when asked about the job cuts.

Paladin international affairs General Manager Greg Walker told Nyasa Times: “We have reviewed staff numbers and are retrenching 110 national employ"

Paladin to retrench 110 workers in Malawi’s Kayerekela mine | Nyasa Times Malawi breaking news in Malawi: "

Malawian Government and World Bank Launch Mining Governance and Growth Support Project | Mining in Malawi

 "LAUNCH MINING GOVERNANCE AND GROWTH SUPPORT PROJECT
22 January 2013 · by malawimining · in Events, Globe Metals & Mining Kanyika, Malawian Government, Mkango Resources, Paladin Kayelekera. ·
Today the Malawian Government launched the Mining Governance and Growth Support Project at the Bingu International Conference Centre in Lilongwe. According to Leonard Kalindekafe, Principal Secretary in the Ministry of Mining, the programme will support the government’s mining sector reform programme."

Malawian Government and World Bank Launch Mining Governance and Growth Support Project | Mining in Malawi:

Tea cartel' formed by biggest producing nations

China is one of the biggest producers and consumers, and will be an observer for now
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Cultural thirst drives premium tea boom in China
The world's biggest producers of tea have agreed to join forces, raising the prospect of a cartel controlling the price of the popular drink.

Following talks in Colombo, Sri Lanka, India, Kenya, Indonesia, Malawi and Rwanda announced the formation of the International Tea Producer's Forum."
BBC News - 'Tea cartel' formed by biggest producing nations:
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Rio Tinto abandons plans to transport coal on Zambezi

Rio Tinto rethinks Mozambique business - FT.com: "Rio Tinto rethinks Mozambique business
By Neil Hume in Sydney
Rio Tinto is evaluating options for its troubled Mozambique coal business, including partnering with rival mining companies on rail infrastructure, according to people close to the situation."

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Government backs Paladin

Government has said it will protect Paladin Africa, the mining company of Kayerekera Uranium Mine, from further attacks from critics saying the miner is suffering undeservedly.

Minister of Mines John Bande said this after continued calls from civil society and some opposition parties that the company's mine is not benefiting the country enough as it is supposed to, with other claims of less corporate social responsibility activities in Karonga."
Government backs Paladin

MIT in K1bn campus project

Government through Malawi Institute of Tourism (MIT) says it will invest K1 billion to construct a state-of the- art Lilongwe campus of the institute.

The Ministry of Tourism says this in inline with government's Economic Recovery Plan (ERP) which lists tourism as a priority sector."

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Eland coal mine to double production

Eland Coal Mine says it is set to double production following the completion of installation works on its new multimillion kwacha mining plant at Mwaulambo mine in Karonga.

Speaking when Minister of Mining John Bande inspected the mine on Friday, Head of Marketing and Sales Mayamiko Mwinjilo said the new machine is expected to produce 25 tonnes

of coal per hour against 10 tonnes per hour which its excavator is currently producing"
Eland coal mine to double production:
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Nation Online - Kapichira II Power Plant to spur business growth

Works in progress at Kapichira II Hydro Power Plant in Chikhwawa
The completion of Kapichira II Hydro Power Plant this year will enable Escom to supply between 10 to 12 megawatts (MW) of power to Paladin’s  Kayelekera Mine in Karonga."

Nation Online - Kapichira II Power Plant to spur business growth:
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Nation Online - ERP on track, says Goodall

"ERP on track, says Goodall

Gondwe: ERG is doing better than expected.
Malawi’s Minister of Economic Planning and Development Goodall Gondwe says the Economic Recovery Plan (ERP) is on course, saying most economic indicators under recovery plan are working as planned."
TO READ MORE CLICK HERE:

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Govt to let out Lake Malawi ports

Govt to let out Lake Malawi ports: "Govt to let out Lake Malawi ports
TUESDAY, 15 JANUARY 2013 10:44 GABRIEL KAMLOMO

Malawi will let out to the private sector all ports along Lake Malawi to enhance efficiency of their operations and ensure that they are in good condition.

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Mkango Resources gains two year licence renewal for Phalombe licence - Proactiveinvestors (AU)

Mkango Resources gains two year licence renewal for Phalombe licence - Proactiveinvestors (AU): "Mkango Resources gains two year licence renewal for Phalombe licence
Wednesday, January 16, 2013 by Ian Lyall

Mkango Resources (CVE:MKA) has been granted a two-year renewal of its Phalombe licence in south-east Malawi, home to its flagship Songwe Hill rare earth project."

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Malawi, Mozambique Enter New Electricity Deal - Ventures Africa

Malawi, Mozambique Enter New Electricity Deal - Ventures Africa: "Malawi, Mozambique Enter New Electricity Deal
 Malawi and Mozambique have amended their electricity deal to create a “win-win” situation for both countries, Malawi’s government confirmed on Wednesday."

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Malawi to earn US$15m from Vale annually

Malawi to earn US$15m from Vale annually: "Malawi to earn US$15m from Vale annually

Government is expected to earn over US$15 million in taxes and concession fees per year from the Vale Railway project contract.

Vale is the main contractor of the Kachaso–Nkaya railway line which is part of the Nacala rail corridor project."

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IMF vows to support Malawi reforms - Africa | IOL News | IOL.co.za

IMF vows to support Malawi reforms - Africa | IOL News | IOL.co.za: "IMF vows to support Malawi reforms

January 4 2013 at 04:11pm
By SAPA
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Independent Newspapers
(File image) Malawi President Joyce Banda
Blantyre, Malawi -

Christine Lagarde, the managing director of the International Monetary Fund (IMF), arrived in impoverished Malawi on Friday on a three-day official visit to “support the President and government” over its economic recovery programme."

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