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Saturday, December 31, 2016

Second phase of construction of the port of Nacala, Mozambique, begins in March 2017 | Macauhub English

Second phase of construction of the port of Nacala, Mozambique, begins in March 2017 | Macauhub English: "The works of the second phase of the refurbishment and expansion of the Port of Nacala, in Nampula, Mozambique, is due to begin in March next year, in order to increase the port’s capacity to handle cargo in transit, especially for Malawi and Zambia"

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Tuesday, December 27, 2016

Malawi Extractives industries Transparency Initiative potential for overturning tax holidays from investors-Former Energy Minister Malunga - The Maravi Post

Malawi Extractives industries Transparency Initiative potential for overturning tax holidays from investors-Former Energy Minister Malunga - The Maravi Post: "LILONGWE-(MaraviPost) – The establishment of Malawi Extractives Industries Transparency Initiative (MWEITI) is said to be in a right direction towards overturning tax holidays from investors, The Maravi Post has learnt.

This follows the country’s extractive industries stakeholders’ adoption of two critical documents; open data policy and benefit ownership disclosure roadmap."

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Monday, December 26, 2016

MKANGO ENTERS INTO AGREEMENT WITH NOBLE TO COLLABORATE IN THE RARE EARTHS SECTOR



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Calgary, Alberta: December 19, 2016 - Mkango Resources Ltd. (TSXV / AIM: MKA) (the "Company" or
"Mkango"), is pleased to announce that it has entered into a collaboration agreement (the “Agreement”) with
Noble Resources International (“Noble”), which will also allow Noble to acquire up to a 12.5% interest in
Mkango. Noble is one of world’s largest commodity traders and the largest in Asia, with a presence throughout the region. It is listed on the Singapore Stock Exchange with a market capitalization of approximately US$1.5 billion

Malawi moving towards reliable power, says Minister Msaka - Malawi Nyasa Times - Malawi breaking news in Malawi

Malawi moving towards reliable power, says Minister Msaka - Malawi Nyasa Times - Malawi breaking news in Malawi: "If the ambitious programme Malawi government has laid out to undertake between now and the next few years is anything to go by, then the country will be bidding farewell to blackouts in not so long a time. All things being equal."

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Despite ongoing disagreements on Lake Malawi Tanzania has agreed to partner with Malawi to provide Electricity - The Maravi Post

Despite ongoing disagreements on Lake Malawi Tanzania has agreed to partner with Malawi to provide Electricity - The Maravi Post: "Mired in Lake Malawi disagreements. Tanzania and Malawi are expected to partner in a joint project on irrigation where a total of 600 hectares will be developed, with 3000 farms in each country"

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Sunday, December 25, 2016

Africa: Dar, Lilongwe Sign 180-Megawatt Joint Power Deal - allAfrica.com

Africa: Dar, Lilongwe Sign 180-Megawatt Joint Power Deal - allAfrica.com: "By Harriet Kiama
Mbeya — Tanzania and Malawi are expecting to implement a joint 180-megawatt electricity project that will enable each country to produce 90mw."

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Friday, December 23, 2016

Industrial park in the pipeline | The Times Group

Industrial park in the pipeline | The Times Group: "Water Wheel International, in collaboration with Malawi Investment and Trade Centre (MITC) plans to establish an industrial park which is expected to be at Chintheche in Nkhata Bay.

The project is an extension of the proposed $200 million hydro power project in Nkhata Bay to be implemented by the same company."

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Wednesday, December 21, 2016

Mkango Resources Ltd surges as Noble Resources gets on board the Songwe Hill bus

Mkango Resources Ltd surges as Noble Resources gets on board the Songwe Hill bus: "Commodity trader Noble Resources is to lend its considerable weight to Mkango Resources Ltd (LON:MKA, CVE:MKA), the rare earths explorer.

Noble, one of world's largest commodity traders and the largest in Asia, will identify the optimal markets and counter-parties for output from Mkango’s Songwe Hill rare earths project in Malawi."

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Tuesday, December 20, 2016

Malawi scores high on Millenium Challenge Account indicators | The Times Group

Malawi scores high on Millenium Challenge Account indicators | The Times Group: "Malawi stands a chance of benefiting from another Millenium Challenge Account (MCA) compact following its good performance on the programme indicators.

The country is already beneficiary from a $350 million MCA pact targeting the energy sector."

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Thursday, December 15, 2016

Second phase of construction of the port of Nacala, Mozambique, begins in March 2017 | Macauhub English

Second phase of construction of the port of Nacala, Mozambique, begins in March 2017 | Macauhub English: The works of the second phase of the refurbishment and expansion of the Port of Nacala, in Nampula, Mozambique, is due to begin in March next year, in order to increase the port’s capacity to handle cargo in transit, especially for Malawi and Zambia.

Wednesday, December 14, 2016

Things beginning to look up for Brazilian miner in Mozambique

Things beginning to look up for Brazilian miner in Mozambique: " In a recent presentation to the NYSE, Brazilian major mining group Vale reported on progress at its Mozambique operations. These comprise the Moatize coal mine and the Nacala Logistics Corridor. Moatize is primarily a metallurgical, or coking, coal mine, while the Nacala Logistics Corridor is composed of new and refurbished railway lines linking Moatize (and the city of Tete) to the port of Nacala, via Malawi, as well as a coal terminal in that port."

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Thursday, December 8, 2016

Zambia-China sign Rail deal toSerenje - Chipta

Coastweek - The most from the coast: " Zambia on Wednesday signed a deal for the construction of a new railway project with China’s state-run firm that will enhance transportation in the southern African nation.

The 388-kilometer railway, to run from the eastern town of Chipata to the central town of Serenje via another eastern town of Petauke, will be constructed by China Civil Engineering Construction Company (CCECC), at a cost of 2.3 billion U.S. dollars within a four-year period."

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Wednesday, December 7, 2016

Year 2016 round up: Low prices hit Malawi’s mineral sector – Mining & Trade Review (December 2016) | Mining in Malawi

Year 2016 round up: Low prices hit Malawi’s mineral sector – Mining & Trade Review (December 2016) | Mining in Malawi: "By Marcel Chimwala

Despite continued discovery of anomalies of high value minerals and sizeable quantities of industrial minerals in ongoing exploration activities, Malawi’s minerals sector has failed to move to greater heights in the year 2016 due to the prevailing low commodity prices on the world market and unavailability of low cost power from the national grid, which is weighing on the feasibility of mining projects.

"

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Tobacco earnings now at $264 million | The Times Group

Tobacco earnings now at $264 million | The Times Group: "Malawi has so far realised a total of $264.6 million from tobacco sales since the start of this year’s marketing season in April, latest figures from AHL Group indicate.

The statistics also show that a total of 183.7 million kilogrammes of the green gold have been sold at an average price of $1.44 per kilogramme."

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IMF approves ECF extension for Malawi | The Times Group

IMF approves ECF extension for Malawi | The Times Group: "The Executive Board of the International Monetary Fund (IMF) has approved—without an Executive Board meeting— an extension of Malawi’s arrangement under the Extended Credit Facility (ECF) to June 30, 2017.

This means that Malawi has been given more time to implement some programme objectives using about $49.2 million or 25 percent of quota approved by the Board in June this year to strengthen the response to the El Niño-induced drought."

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Tuesday, November 29, 2016

Banks yet to react to policy rate slash | The Times Group

Banks yet to react to policy rate slash | The Times Group: "Banks yet to react to policy rate slash
Posted By: William Kumwembeon: November 28, 2016In: BusinessNo Comments
Malawi’s commercial banks were yet to start pulling down interest rates over 80 hours after the Reserve Bank of Malawi (RBM) reduced the policy rate."

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Friday, November 25, 2016

Malawi could help secure raw materials for green technologies

Malawi could help secure raw materials for green technologies: Malawi could help secure raw materials for green technologies
by Staff Writers
Exeter UK (SPX) Nov 21, 2016


Pioneering new insights into why high concentrations of some of the most rare and desirable natural elements - vital for the production of vital environmental, digital and security technologies - have been revealed

Wednesday, November 9, 2016

Fuel Prices Increase Effective Nov 4

Fuel Prices Increase Effective Nov 4: Fuel Prices Increase Effective Nov 4
Written by� Isaac Chawinga Thursday, 03 November 2016 20:12 font size Print Email Media
Rate this item 1 2 3 4 5 (1 Vote)

Amid growing economic hardships, motorists in the country will now dig deeper into their pockets as fuel prices have been revised upwards effective Friday, November 4, 2016.
In a statement the Malawi Energy Regulatory Authority (MERA) says petrol is now selling at K824.70 up from K788.30, representing an increase of 4.6%.

MRA collects K71.8bn in October, beats target by K7.8bn | Malawi24 - All the latest Malawi news

MRA collects K71.8bn in October, beats target by K7.8bn | Malawi24 - All the latest Malawi news: MRA collects K71.8bn in October, beats target by K7.8bn
Bright Malenga

The Malawi Revenue Authority (MRA) has beaten the set revenue target for October 2016 by K7.8 billion after collecting K71.8 billion against a projection of K64 billion.
Speaking to the media in Blantyre, MRA Deputy Director of Corporate Affairs Steven Kapoloma said for this fiscal year, from July to October, MRA has collected K251.8 billion which is against a projection of K228.5 billion, registering an excess collection of K23.3 billion.

Ndalama zathawisidwa.
“Th

Sunday, November 6, 2016

Independent Power Producers cry foul over Procurement | The Times Group

Independent Power Producers cry foul over Procurement | The Times Group: Independent Power Producers cry foul over Procurement Posted By: Josephine Chineleon: November 05, 2016In: NationalNo Comments Independent Power Producers (IPPs) have poured out their frustrations in the renewable energy procurement process, blaming Escom and Ministry of Natural Resources, Energy and Mining for fixing the process. They have since written President Peter Mutharika, Vice President Saulos Chilima, the International Monitory Fund (IMF), the World Bank, Millennium Challenge Account (MCA) and Escom and the ministry itself informing them of alleged corruption in awarding of contracts to two companies without following procedures.

Thursday, November 3, 2016

Tanzania: Things Poised to Happen After King Mohamed VI's Visit - allAfrica.com

Tanzania: Things Poised to Happen After King Mohamed VI's Visit - allAfrica.com: Tanzania: Things Poised to Happen After King Mohamed VI's Visit Tagged: BusinessEast AfricaGovernanceInvestmentMoroccoNorth AfricaTanzania Tweet Share Google Comment Email More RELATED TOPICS Business Nigeria: AfDB Approves U.S.$600 Million Financial Support for Nigeria Uganda: Railway Workers Protest Dismissal of Colleagues Uganda: Lecturers Deny Demanding University Shutdown Ethiopia: Unrest Worries Foreign Investors East Africa Tanzania: President Magufuli to Meet Editors Africa: Lack of Funds Slow Down Regional Bloc Negotiations Tanzania: Air Tanzania Introduces Lower Charges Domestic Flights Kenya: Kenneth Marende Joins Nairobi Governor Race Governance South Africa: What You Need to Know About State Capture Report South Africa: I Haven't Considered Resigning Yet - Prosecution Chief South Africa: #StateCaptureReport - Key Players, Violations and What's Next South Africa: 'We Are Happy You Are Still in One Piece,' Mugabe Tells Zuma Investment Zimbabwe: Govt Pleads With SA for Investment, Ahead of Zuma's Arrival Tanzania: Make Improving Business Climate a Top Priority Zimbabwe: Govt Seeks Infrastructure Investors Zimbabwe: Zimbabwe Investment Climate Worrisome Morocco Tanzania: TPSF Moves Its AGM to Morocco Morocco: Moroccan King to Pay Singer Lamjarred's Expenses in Paris Rape Case Morocco: Fishmonger's Gruesome Death Sparks Protests Morocco: HRH Princess Lalla Salma Attends World Cancer Congress in Paris Proverbs are an integral part and pride of our culture. They are in use today after passing from generations to generations. One famous proverb along the East African coast has been "Let the guest come so that the host may benefit," which translates into Kiswahili as "Mgeni aje mwenyeji apone".

Heavy maize imports to weaken local prices | The Times Group

Heavy maize imports to weaken local prices | The Times Group: Heavy maize imports to weaken local prices Posted By: Taonga Sabolaon: November 03, 2016In: BusinessNo Comments The Agricultural Commodity Exchange for Africa (ACE) says heavy maize imports by authorities and cooperating partners could lead to the collapse of local maize prices.

China to build Zambia - Malawi rail link

China to build Zambia - Malawi rail link: China to build Zambia - Malawi rail link Written by� Keith Barrow PrintEmail inShare A contract to construct a rail link between central Zambia and the Malawian border was signed in the Zambian capital Lusaka on November 2 by minister of transport and communications Mr Brian Mushimba and representatives of China Railway Construction Corporation.

Tuesday, November 1, 2016

Tobacco earnings hit $240 million | The Times Group

Tobacco earnings hit $240 million | The Times Group: Tobacco earnings hit $240 million Posted By: Taonga Sabolaon: October 27, 2016In: BusinessNo Comments Malawi has so far realised a total of $240 million from tobacco sales since the start of the tobacco market this year, figures released by Auction Holdings Limited indicate. The figures show that a total of 159.5 million kilogrammes of the green gold have been sold at an average price of $1.51 per kilogramme

Information blackout blocking investments | The Times Group

Information blackout blocking investments | The Times Group: Information blackout blocking investments
Posted By: Kingsley Jassion: November 01, 2016In: BusinessNo Comments
Malawi may be losing out on Foreign Direct Investments (FDIs) from China after some investors in that country revealed they lack information on the investment opportunities available in Malawi.

China is among the world’s leading sources of FDIs and accounts for the largest inflow into African but Malawi is only tapping a small percentage of the investment flow.

Wednesday, October 26, 2016

Uranium Pain Seen Worsening by Paladin as Glut Extends Slump - Bloomberg

Uranium Pain Seen Worsening by Paladin as Glut Extends Slump - Bloomberg: Uranium producers should brace for a longer period of lower prices as the fuel extends its decline to an 11-year low amid a glut, according to Australian miner Paladin Energy Ltd.

Thursday, October 20, 2016

Mkango's Songwe Hill Phalombe licence renewed until January 2019

Mkango's Songwe Hill Phalombe licence renewed until January 2019: Mkango’s Songwe Hill Phalombe licence renewed until January 2019 The Government of Malawi has granted dual-listed rare earths junior Mkango Resources a further two-year renewal for its Phalombe licence.

Mkango Resources Ltd looking at long term production potential at Phalombe licence

Mkango Resources Ltd looking at long term production potential at Phalombe licence: These are exciting times for rare earths explorer Mkango Resources Ltd (LON:MKA, CVE:MKA). Not only is it bullish on the outlook for the rare earth sector, it also has one of the few advanced stage rare earth projects in the world. Last year's prefeasibility study for its Songwe Hill project in Malawi outlined an inferred and indicated resource of 32mln tonnes of rare earths, with the potential for a long 18-year mine life exploiting just the higher confidence indicated material.

Friday, October 14, 2016

Firm to invest $2BN, To create 1 000 jobs

(7) Malawi Nation - Timeline: Firm to invest $2BN, To create 1 000 jobs CHRISTOPHER JIMU Staff Reporter As details of the trickle-down effects of the just-ended Malawi Investment Forum (MIF) 2016 emerge, a South African property investment firm, Nedebe Group, plans to spend about $2 billion (K1.4 trillion) in infrastructure development in Lilongwe. Nedebe Group was one of the foreign firms that pitched up at the two-day MIF 2016, which ended on Tuesday at Bingu International Convention Centre (Bicc) in Lilongwe and was officially opened by Vice-President Saulos Chilima.

Thursday, October 13, 2016

Mozambique: Renamo Attacks Coal Train in Nampula - allAfrica.com

Mozambique: Renamo Attacks Coal Train in Nampula - allAfrica.com: Maputo — Gunmen of the Mozambican rebel movement Renamo attacked a train belonging to the coal mining company Vale-Mozambique in the northern province of Nampula, in the small hours of Thursday morning. At a Friday press conference in Nampula city, the spokesperson for the provincial police command, Zacarias Nacute, said the attack took place in Mutuali, in Malema district at about 01.00. The Renamo gang caused damage to the front of the locomotive, and shattered windows. Shards of glass hit the train driver, causing slight injuries. The train was taking coal from Vale's open cast mine at Moatize, in Tete province, to the new mineral port at Nacala-a-Velha, on the Nampula coast. Nacute said that Renamo attempted, unsuccessfully, to set the locomotive on fire. He said the police have now sent a unit to the site of the attack to guarantee public order and tranquillity. “Unfortunately we were unable to neutralize any of the attackers”, Nacute added, “but the police are on the spot working to assess the circumstances of the attack, and discover the whereabouts of those carrying out armed attacks in our province, so that they may be taken to justice”. This is the second attack on the northern rail corridor in less than a week. On Monday night Renamo attacked a goods train between Cuamba and Nampula cities, and injured one member of its crew. This train was carrying empty wagons back to port, and was not owned by Vale. There are two railways which Vale can use to take coal to port. One is the Sena line, which runs from Tete province to the port of Beira. The second is the new line, financed by Vale, which runs from Moatize through southern Malawi, and then links up with the existing northern corridor. This line was built to accommodate extremely long coal trains carrying the mineral to Nacala-a-Velha. When its trains on the Sena line suffered two attacks, Vale suspended the use of this railway about two months ago. Now it may feel obliged to suspend traffic on the line to Nacala as well. Transport Minister Carlos Mesquita, cited by the radio station “Voice of America”, said he recently held a meeting with Vale representatives to persuade the Brazilian company to resume its use of the Sena line. He assured them that the defence and security forces would protect the line. Mesquita also told the radio that the interruption of coal traffic along the Sena line had caused losses of around 50 million US dollars to the publicly-owned ports and rail company, CFM. Renamo's attacks on roads and railways are reminiscent of its tactics during the war of destabilisation in the 1980s and early 1990s, when it sought to throttle the Mozambican economy by destroying the transport network. During this period it completely ruined the Sena Line, which, after the 1992 peace agreement, had to be completely rebuilt at great expense. Mozambique Govt Used Secret Loans to Finance Arms - Report More than half of the more than $2 billion in secret loans around Ematum and maritime security have never been…�Read�more�� Copyright � 2016 Agencia de Informacao de Mocambique. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here. AllAfrica publishes around 1,100 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us. MORE FROM: AIM Mozambique: Audit of Undisclosed Loans Will Be Public, Says IMF Mozambique: Government Promises 'Every Effort' in Pondeca Case Mozambique: Fisheries Minister Downplays Ematum Strike

Nacala Corridor PTC to go live this year - Railway Gazette

Nacala Corridor PTC to go live this year - Railway Gazette: FRICA: Siemens Rail Automation says that it expects to commission the Positive Train Control signalling system it has installed on the Nacala Corridor linking Malawi and Mozambique ‘by the end of the year’.

The supplier says that the Trainguard Sentinel PTC it is supplying to the Corredor Log�stico Integrado de Nacala joint venture of Mozambique state railway CFM (20%) and Brazilian mining firm Vale (80%) is ‘a combination of North American train control technology and European standards’, meeting SIL2 integrity. Under a €70m contract announced in November 2013, Siemens is to provide its Train Sentinel Positive Train Control, train integrity monitoring, Westrace solid-state interlockings and telecoms based on a microwave network with Tetra track-to-train data transmission.

Tuesday, October 11, 2016

Mota Engil to boost Malawi electricity | Malawi24 - All the latest Malawi news

Mota Engil to boost Malawi electricity | Malawi24 - All the latest Malawi news: Mota Engil to boost Malawi electricity Luke Bisani A New Solution That Stops Snoring and Lets You Sleep Find Every Secret They Want Kept Hidden 22 Movies Where They Really Did It 25 Female Photoboms You Won't Believe ? As the country is experiencing persistent blackouts, Mota Engil has disclosed plans to generate 500 megawatts using hydro and coal power plants. During the 2016 Malawi Investment Forum currently underway in Lilongwe, Mota Engil signed a Memorandum of Understanding (MOU) with Malawi government on the new interest to the energy sector.

Huge shot in the arm for uranium price | MINING.com

Huge shot in the arm for uranium price | MINING.com: Huge shot in the arm for uranium price Frik Els | Sep. 15, 2016, 3:28 AM | 6,917 | 3 PEOPLEMINE FACEBOOK LINKEDIN TWITTER EMAIL PRINT Artist impression Uranium is having the worst start to a year in a decade. U3O8 is down more than 25% in 2016 with the UxC broker average price sliding to $25.45 a pound last week. Current levels are the cheapest spot uranium has been since 2005. The long term price, where most uranium business is conducted, has fallen to unprecedented levels below $40 a pound

Malawi Investment Forum in progress, six firms commit deals | The Times Group

Malawi Investment Forum in progress, six firms commit deals | The Times Group: Malawi Investment Forum in progress, six firms commit deals Posted By: Caroline Kandieroon: October 11, 2016In: BusinessNo Comments The second Malawi Investment Forum started on a high note in Lilongwe on Monday, with six companies signing Memorandum of Understanding with government and the private sector to invest in various sectors of the economy. The MoUs have been signed in projects under ministries of agriculture, lands and energy and the projects include a $120 million Lake Malawi water supply in Salima, $20 million for officials buildings for government offices, infrastructure development project in Area 32, heritage site aimed at preserving the national identity, hydro and coal fire energy project by Mota Engil and $1 million bio-fertiliser plant.

Wednesday, October 5, 2016

MKANGO RESOURCES LTD CMN SHS NPV (DI)'s Stock Is Buy After Today's Huge Increase - Engelwood Daily

MKANGO RESOURCES LTD CMN SHS NPV (DI)'s Stock Is Buy After Today's Huge Increase - Engelwood Daily: "The stock of MKANGO RESOURCES LTD CMN SHS NPV (DI) (LON:MKA) is a huge mover today! About 298,301 shares traded hands. MKANGO RESOURCES LTD CMN SHS NPV (DI) (LON:MKA) has risen 6.00% since August 27, 2016 and is uptrending. It has underperformed by 5.27% the S&P500.
The move comes after 9 months positive chart setup for the GBX company. It was reported on Sep, 26 by Barchart.com. We have GBX 11.96 PT which if reached, will make LON:MKA worth GBX more."



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Monday, October 3, 2016

Malawi: Key Message Update - September 2016 - Malawi | ReliefWeb

Malawi: Key Message Update - September 2016 - Malawi | ReliefWeb: "his month, the Food Security Cluster will roll out assistance to Neno district in the south and Salima and Ntcheu districts in the central region, bringing the total number of districts receiving assistance to six. Assistance funding levels continue to be below 50 percent, but despite these low levels the government and partners have announced that beneficiaries in all six districts will begin receiving a full ration in September. In July and August, households only received a half ration. The beneficiary case load increased steeply in September. Currently 91 percent of beneficiaries are receiving assistance in-kind and 9 percent are receiving the cash equivalent. In the presence of this assistance, Stressed (IPC Phase 2!) outcomes are projected through December. Agriculture Cluster activities, including the distribution of seeds, inputs, livestock support, and small-scale water harvesting activities are planned to start in October."



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Tuesday, September 20, 2016

Malawi Kwacha firms against dollar | The Times Group

Malawi Kwacha firms against dollar | The Times Group: "A report shows the kwacha remained stable holding still to the dollar in the month of August as the country managed to keep demand and supply of foreign exchange at equilibrium. The report also sites a relatively weaker dollar index and constant tobacco revenue inflow as being behind the good tidings.

But while the report shows prospects of a stable kwacha-dollar exchange rate in the next few weeks, the trend is not expected to hold for long, predicting the kwacha to begin depreciating again as the dollar regains strength."



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Sunday, September 18, 2016

Electricity tariffs maintained at K57.72 | The Times Group

Electricity tariffs maintained at K57.72 | The Times Group: "The Malawi Energy Regulatory Authority (Mera) has maintained electricity tariffs at K57.72.kWh having taken into consideration its last tariff adjustment earlier in May when it granted the Electricity supply Corporation of Malawi (Escom) approval to effect the outstanding 8.14 percent tariff increase."



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Saturday, September 17, 2016

Corruption in Malawi | The Times Group

Corruption in Malawi | The Times Group: "The European Investment Bank (EIB) has pounced on Blantyre Water Board (BWB), demanding part repayment of the 18 million euros (K15 billion) funding which the Bank made available towards the water and sanitation project in Blantyre and Lilongwe cities due to suspected fraud and corruption."



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Friday, September 9, 2016

Malawi Kwacha depreciates 7% in eight months | The Times Group

Malawi Kwacha depreciates 7% in eight months | The Times Group: The Malawi Kwacha lost value by 7.1 percent against the United States dollar in the first eight months of 2016, according to a report.

Announcing the figures in its latest Monthly Economic Brief, Nico Asset managers attributed the fall to the strengthening of the dollar against other currencies as well as low tobacco prices and high rejection rates that have negatively affected inflow of foreign currency to the country.

Thursday, August 25, 2016

New developments in Carlsberg transaction | The Times Group

New developments in Carlsberg transaction | The Times Group: "Preliminary findings show that the transaction in which Castel Group is applying to acquire Carlsberg Malawi may not have an effect in more than two countries in the Common Market for Eastern and Southern Africa (Comesa), leaving the mandate to approve or reject the merger to the  Competition and Fair Trading Commission (CFTC).

The findings show that the acquiring group, Castel, only has operations in the Democratic Republic of Congo while the target, Carlsberg, only has operations in Malawi, thereby not meeting the notification requirements for mergers that are handled by the regional instrument, the Comesa Compeition Commission."



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Monday, August 22, 2016

National Bank of Malawi resuscitates development bank plans | The Times Group

National Bank of Malawi resuscitates development bank plans | The Times Group: "National Bank of Malawi (NBM) has outlined plans to establish a development bank after it completes the integration process with Indebank.

NBM bought 97.05 percent stake in the then government owned Indebank, after the latter failed to meet the Reserve Bank of Malawi’s (RBM) set minimum regulatory Capital and Liquidity Requirement."



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Sunday, August 21, 2016

Malawi trade replaces begging bowl - Nkhani Mchitumbuka

Malawi trade replaces begging bowl - Nkhani Mchitumbuka: "Malawi is undergoing a silent economic paradigm shift by diversifying its economic base from its single reliance on agricultural production to direct investments in multiple sectors including agriculture itself and agro-processing, energy, information and communications technology, tourism, infrastructure and manufacturing."



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Tuesday, August 16, 2016

Malawi reviews mining act to unlock mineral potential

Malawi reviews mining act to unlock mineral potential: "The Malawi government and mining ministry have initiated a process aimed at reviewing its 1981 Mines and Minerals Act.

Through Malawi's Ministry of Natural Resources, Energy and Mining; and with the support of African Minerals Development Centre (AMDC); government hosted a three-day stakeholder consultative meeting to review the Act and to align its mining regulations and new Petroleum Policy to the Africa Mining Vision (AMV)."



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Monday, August 15, 2016

Firm outlines economic threats | The Times Group

Firm outlines economic threats | The Times Group: "Portfolio and investment management firm Nico Asset Managers Limited has outlined six key risks that could further stifle Malawi’s growth and development endeavour.

The firm, in its July 2016 monthly economic brief has highlighted insufficient power supply, high interest rates, persistent weak export base, high inflation rates and delay in food assistance as likely risks to the economy which could impact the real Gross Domestic Product (GDP) growth estimated at 5.1 percent this year by the Government."



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Malawi Veep Chilima dresses down critics over maize crisis | Malawi24 - All the latest Malawi news

Malawi Veep Chilima dresses down critics over maize crisis | Malawi24 - All the latest Malawi news: "

HomeNationalPoliticsHot GossipSportsEntertainmentHealthNo Holds BarredWeird News

ABOUT USCONTACT USADVERTISEDONATE
15 August 2016 Last updated at: 10:08 AM
Malawi Veep Chilima dresses down critics over maize crisis
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Malawi’s vice president Saulos Chilima has taken a swipe at critics from opposition parties in the country who claimed that government has not bought enough maize for Malawians.
The development comes at a time when opposition parties have expressed concern over the maize crisis arguing that government tends to give empty promises to citizens on maize availability in the country.
The parties added that the ruling Democratic Progress Party (DPP) must not fool Malawians again on the maize crisis with promises that are yet to be implemented."



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Doubts persist over Lake Malawi exploration | Natural Gas Daily

Doubts persist over Lake Malawi exploration | Natural Gas Daily: "
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Doubts persist over Lake Malawi exploration
By Miriam Malek 15 August 2016 9:44 GMT Lake Malawi National Park is a UNESCO World Heritage Site. (Flickr/Christiane Birr)
Malawi is struggling to push forward with upstream oil and gas development, finding itself stymied by inexperienced explorers, poor infrastructure, environmental concerns and an ongoing border dispute with Tanzania.

The Malawian government is searching for a new source of income as droughts worsen and a food crisis looms. Malawi suffers from widespread power shortages, and additional access to gas could kickstart domestic electricity generation."



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Cear hails engineers | The Times Group

Cear hails engineers | The Times Group: "The Central East African Railways (Cear) on Friday hailed its engineers for refurbishing one of its locomotives which was condemned for the scrapyard.

Cear Managing Director, Hendry Chimwaza, said the engineers have demonstrated that Malawi also has expertise which could effectively compete at a global level."



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Nico registers 31% premium growth | The Times Group

Nico registers 31% premium growth | The Times Group: "Nico General Insurance Company has registered a premium income of K6 billion for the past six months of the year, representing a 31 percent growth.

Nico Chief Executive Officer, Eric Chapola, attributed the growth to continued support from the general public and corporate organisations.

"



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Friday, August 12, 2016

Chaponda Says Agriculture Policy to be Approved by Cabinet Soon – Maravi Express

Chaponda Says Agriculture Policy to be Approved by Cabinet Soon – Maravi Express: "The Malawi government has said that it will continue to look for new interventions that can help to transform farming so that it should be a viable enterprise, Maravi Express has learnt.
This was said by the Minister of Agriculture, Irrigation and Water Development Dr. George Chaponda when he officially opened the 12th Annual Congress and Policy Conference for Farmers Union of Malawi in Malawi’s Capital City, Lilongwe.
“I am glad to report that the agriculture policy that was being formulated will soon be approved by Cabinet."



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Malawi aligns its Mining Policy to the AMV - EIN News

Malawi aligns its Mining Policy to the AMV - EIN News: "The Malawi Government through Ministry of Natural Resources, Energy and Mining with the support of African Minerals Development Centre (AMDC) hosted a three-day stakeholder consultative meeting to review its 1981 Mines and Minerals Act (MMA) and to align its Mining Regulations and new Petroleum Policy to the Africa Mining Vision (AMV).

The meeting kicked off on 10 August 2016 at the UN Conference Centre in Addis Ababa and brought together the government, civil society representatives, industry operators, and other private sector actors to discuss the mineral governance frameworks. In her welcome address to the delegation, Fatima Haram Acyl, Commissioner for the Department of Trade and Industry at the African Union Commission, said, “I am happy to note that this workshop is part of a long term relationship and continuation of our previous engagement on Malawi’s efforts to reform the country’s Mineral Regime thereby making it consistent with the Africa Mining Visi"



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Economic outlook difficult, says Reserve Bank of Malawi | The Times Group

Economic outlook difficult, says Reserve Bank of Malawi | The Times Group: "The Reserve Bank of Malawi (RBM) says Malawi’s economic outlook remains mixed and murky with prevailing macro-economic challenges likely to persist.

RBM says in its 2015 Annual Report that negative impact of weather related shocks coupled with persistent high inflation could further hurt the economy."



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Vale awaits government nod in Mitsui deal | The Times Group

Vale awaits government nod in Mitsui deal | The Times Group: "Brazil company, Vale, says it awaits the approval of the Malawi Government before concluding the sale of shares in its Mozambican operations to the Japanese company Mitsui.

Vale Chief Executive Officer, Murilo Ferreira, is quoted by Brazilian newspaper, Valor Economico as saying that the agreement is “in a very advanced stage”, and is awaiting approval from the Government of Malawi.

Mitsui agreed, in 2014, to pay $763 million for a 15 percent stake in Vale’s open cas"



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Wednesday, August 10, 2016

Mozambique: CFM Raises 106 Million Dollars From Sale Assets - allAfrica.com

Mozambique: CFM Raises 106 Million Dollars From Sale Assets - allAfrica.com: "Maputo — Mozambique's publicly owned ports and rail company CFM has raised 106 million US dollars through the sale of part of its stake in the Nacala Integrated Logistics Corridor (CLN), reports that daily newspaper "Noticias"."



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Exim Bank extends credit to Malawi for water supply management - Moneycontrol.com

Exim Bank extends credit to Malawi for water supply management - Moneycontrol.com: "Export-Import Bank of India (Exim Bank) today said it has given an additional line of credit (LoC) of USD 23.50 million to Malawi for construction of a new water supply management from Likhubula river in Mulanje to Blantyre."



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Stock market to extend bullish run | The Times Group

Stock market to extend bullish run | The Times Group: "he stock market is expected to maintain its bullish momentum to the end of the year, according to an expert, Armstrong Kamphoni, who is Chief Executive Officer of Alliance Africa Malawi.

But Kamphoni said the situation may also tilt the other way if big companies listed on the Malawi Stock Exchange continue to post poor results.

“It depends on good results from companies. The market is expected to respond favourably to the trends, but some few big companies have been pulling down performance of the market. But, it is likely that the bullish run will extend to the foreseeable future if companies continue to post good results,” Kamphoni said."



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Carlsberg sells Malawi brewery stake | Beverage Industry News | just-drinks

Carlsberg sells Malawi brewery stake | Beverage Industry News | just-drinks: "Carlsberg sells Malawi brewery stake
By Lucy Britner | 10 August 2016Font size Email Print

Carlsberg has agreed to sell its stake in its Malawi Brewery to Castel
Carlsberg has agreed to divest its 59% share of brewing and bottling facility Carlsberg Malawi to Castel Group. 

The brewer said today that the move is part of its strategy to "leverage its strengths while positioning itself for future growth". Financial details were not disclosed. "



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Saturday, August 6, 2016

Malawi signs $23.5mil credit with India Exim Bank  for Blantyre Water project - Malawi Nyasa Times - Malawi breaking news in Malawi

Malawi signs $23.5mil credit with India Exim Bank  for Blantyre Water project - Malawi Nyasa Times - Malawi breaking news in Malawi: "Malawi signs $23.5mil credit with India Exim Bank  for Blantyre Water project
August 6, 2016 Harold Kapindu –Nyasa Times Be the first to comment
Malawi High Commissioner to India, Dr. Mbuya Isaac Munlo on behalf of the Minister of Finance, Economic Planning and Development on Friday 5thAugust signed the USD23.5Million Line of Credit (LoC) for the Blantyre Water Project in Malawi."



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Malawi signs $23.5mil credit with India Exim Bank  for Blantyre Water project - Malawi Nyasa Times - Malawi breaking news in Malawi

Malawi signs $23.5mil credit with India Exim Bank  for Blantyre Water project - Malawi Nyasa Times - Malawi breaking news in Malawi: "Malawi High Commissioner to India, Dr. Mbuya Isaac Munlo on behalf of the Minister of Finance, Economic Planning and Development on Friday 5thAugust signed the USD23.5Million Line of Credit (LoC) for the Blantyre Water Project in Malawi."



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Shareholders pump life into CEAR operations | The Times Group

Shareholders pump life into CEAR operations | The Times Group: "Managing Director of Central East African Railways (Cear), Hendry Chimwaza, says the future of the company is now more promising following an injection of capital by Vale, the new shareholders of the company.

Chimwaza said the coming in of the new shareholder has seen the company acquiring new coaches which have improved the company’s operations. This year, according to Chimwaza, the company expects to haul twice the cargo it carried last year."



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Friday, August 5, 2016

Mozambique | Brazil’s Vale group closes agreement on coal, railway line | MACAU DAILY TIMES

Mozambique | Brazil’s Vale group closes agreement on coal, railway line | MACAU DAILY TIMES: "Brazil’s Vale group has completed the process of renegotiating the deal reached in 2014 with Japan’s Mitsui & Co group for the sale of a percentage in coal-related interests in Mozambique, reports the Brazilian newspaper Valor Económico."



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Nobium Mining Yet To Commence In Malawi - Capital Radio Malawi

Nobium Mining Yet To Commence In Malawi - Capital Radio Malawi: "Since 2010, the mining project has taken center stage since over 200 families were told that they will be moved, a development that has created problems and friction in the area with people currently pressing for their compensation.

Malawi’s Minister of Natural Resources, Energy and Mining said the project requires a lot of money and Globe Metals and Mining Company is looking around for finances to proceed with the project"



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Thursday, August 4, 2016

World Bank alleges abuse of funds meant for projects in Malawi - Ventures Africa

World Bank alleges abuse of funds meant for projects in Malawi - Ventures Africa: "The World Bank has accused the Malawian government of abusing funds meant for its projects in the country. This adds to the several corruption cases the south east African country has been involved in. In line with the policy of the World Bank, Malawi will now have to refund the money, even as it battles to sustain partnerships with other donors due to trust issues."



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Tuesday, August 2, 2016

China warns on $60 billion package | The Times Group

China warns on $60 billion package | The Times Group: "Malawi is yet to sign an agreement with the Chinese Government on a $60 billion financial package for African countries.

Six months ago, China through the Forum on China Africa Cooperation (Focac) in Johannesburg, committed the fund to African countries.

Over 60 cooperation agreements worth over US$18 billion were signed on Friday in Beijing at a Focac coordinators conference involving ministers, government technocrats and business captains from 42 African countries."



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Liwonde-Mangochi road to wear a new face | Malawi24 - All the latest Malawi news

Liwonde-Mangochi road to wear a new face | Malawi24 - All the latest Malawi news: "The Roads of Authority (RA) has assured Malawians living along the Liwonde-Mangochi road that rehabilitation of the road will be completed on time as funding is already available.
Spokesperson for Roads Authority (RA) Posha Kajanga said the rehabilitation of the road, which has been funded by a loan from the African Development Bank, will not stall since the bank has already made the money available."



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Tourism GDP projected to grow by 4.2% | The Times Group

Tourism GDP projected to grow by 4.2% | The Times Group: "Malawi’s tourism contribution to the Gross Domestic Product (GDP) is expected to grow by 4.2 percent this year, from last year’s 7.2 percent.

Minister of Tourism, Joseph Mwanamvekha, said this on Friday during a graduation ceremony of Malawi Institute of Tourism (MIT) students in Blantyre."



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Reserve Bank of Malawi maintains policy rate at 27% | The Times Group

Reserve Bank of Malawi maintains policy rate at 27% | The Times Group: "A Monetary Policy Committee (MPC) meeting of the Reserve Bank of Malawi in Lilongwe on Wednesday and Thursday, last week, resolved to maintain the policy rate at 27 percent as inflation continues to run away.

According to minutes of the meeting chaired by RBM Governor, Charles Chuka, the indaba also agreed to maintain the liquidity reserve requirement at 7.5 percent."



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Monday, August 1, 2016

Mkango Secures Exclusive Option Over Hydrochloric Acid Regeneration Technology from McGill University, Canada

Mkango Secures Exclusive Option Over Hydrochloric Acid Regeneration Technology from McGill University, Canada: "CALGARY, ALBERTA--(Marketwired - July 26, 2016) - Mkango Resources Ltd. (TSX VENTURE:MKA)(AIM:MKA) (the "Corporation" or "Mkango"), is pleased to announce that it has secured a two-year exclusive option and right to acquire, on commercially standard terms, the worldwide licence for a technology to produce high strength (up to 30%) hydrochloric acid ("HCL") from calcium chloride feed streams (the "Technology") using sulphuric acid, applicable in rare earths processing and other potential industrial applications. The Technology has been developed by Dr. Thomas Feldmann and Professor George Demopoulos of McGill University in Montreal, Canada."



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Reserve Bank of Malawi maintains policy rate at 27% | The Times Group

Reserve Bank of Malawi maintains policy rate at 27% | The Times Group: "A Monetary Policy Committee (MPC) meeting of the Reserve Bank of Malawi in Lilongwe on Wednesday and Thursday, last week, resolved to maintain the policy rate at 27 percent as inflation continues to run away.

According to minutes of the meeting chaired by RBM Governor, Charles Chuka, the indaba also agreed to maintain the liquidity reserve requirement at 7.5 percent.

The meeting, among others, observed that inflation had started to climb in the past few months as the food situation worsened.

The gathering noted that addressing the food question could be critical in pulling down inflation, recorded at 22.6 percent in June.

With about 6.5 million"



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Tuesday, July 26, 2016

Malawi: Inflation Rate Increases to 22.6% in June | Medafrica Times

Malawi: Inflation Rate Increases to 22.6% in June | Medafrica Times: The national statistics office of Malawi, on Monday, said the country’s inflation has accelerated to 22.6 percent year-on-year in June from 21.5 percent in May, driven partly by higher food prices

Struggling tobacco industry earns $158 million | The Times Group

Struggling tobacco industry earns $158 million | The Times Group: The tobacco industry is still struggling to impress with the market so far earning $158.6 million against $240 million earned during the same time last year.

A trading update for week15 of this year’s tobacco market shows that 85 million kilogrammes of burley tobacco went through the auction against 124 million kilogrammes auctioned same time last year.

Talks underway for power purchase deal | The Times Group

Talks underway for power purchase deal | The Times Group: One of the Independent Power Producers (IPPs) Atlas Energy has confirmed holding negotiations with the Millenium Challenge Corporation (MCC) and Power Africa Transactional Advisor to pave way for a Power Purchase Agreement (PPA) with the Electricity Supply Corporation of Malawi (Escom)

Monday, July 25, 2016

Malawi –China forum courts 11 investors | The Times Group

Malawi –China forum courts 11 investors | The Times Group: "The Malawi – China forum has yielded positive results with 11 Chinese companies showing interest in investing in the country.

A joint statement by the Ministry of Industry, Trade and Tourism and the Chinese Embassy in Malawi indicates that the investors are from the energy, agriculture and banking sectors."



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Friday, July 22, 2016

AHCX, others push for commodity market reforms | The Times Group

AHCX, others push for commodity market reforms | The Times Group: "Stakeholders are calling for the establishment of new regulatory requirements aimed at encouraging the use of structured markets when exporting commodities.

The players argue that Malawi would be in a better position to absorb shocks impacting the economy following dwindling revenues from tobacco if the country is to set up special export mandates, where all exportation of commodities and other produce would go through the structured market."



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Survey finds mineral traces in Thambani | The Times Group

Survey finds mineral traces in Thambani | The Times Group: "An airborne survey which the government undertook with support from the World Bank has found significant potential  for  uranium,  niobium,  tantalum  and  other  minerals  in some parts of Thambani where Mkango resources is carrying out mineral exploration activities.

The Survey also highlighted a number of magnetic anomalies not previously identified which require further  investigation  to  determine  the  significance  of  the  magnetic  anomalies, and whether they are related to mineralisation or geological features.

According to a statement from Mkango Resources,  the  magnetic  high  anomalies  provide  an  excellent  focus  for  future  exploration  for  niobium and tantalum at Thambani."



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Wednesday, July 20, 2016

Reports paint gloomy outlook for economy | The Times Group

Reports paint gloomy outlook for economy | The Times Group: "As Malawi’s economy struggles in the face of double-digit inflation among other negative indicators, two new reports have presented another bleak outlook of the economy.

The reports predict a further depreciation of the kwacha in the coming months with food inflation also expected to increase as the food deficit becomes more pronounced.

The projections are contained in Alliance Capital’s Quarterly Economic Report for the second quarter of 2016 and Mid-Year Economic Report released by Nico Asset Managers."



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Tea prices improve | The Times Group

Tea prices improve | The Times Group: "Tea prices have improved after week, of slow trading. At the Limbe Tea Auction, the market recorded one of the highest prices in weeks at $2.20 as compared to last week’s auction where the highest bidder offered $1.80 for the best tea.

The lowest price on offer during the auction was $0.72.

Coffee and Te a Merchants Association of Malawi Chairperson, William Sichinga, said the development is as a result of off season market dynamics.

“We are going into off season and buyers are scrambling for the little tea that is available on the auction. This has pushed the price upwards which is a good development,” said Sichinga."



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UN Appeals for $204 Million for Hungry in Southern African - ABC News

UN Appeals for $204 Million for Hungry in Southern African - ABC News: "The U.N. food agency has declared its highest-level emergency in drought-stricken southern Africa and is appealing for $204 million immediately to purchase food and transport it to the region to help millions of hungry people.

World Food Program Executive Director Ertharin Cousin told reporters in a telephone briefing from hard-hit Malawi on Tuesday that the El Nino-induced drought — which also affected South America and Ethiopia — has devastated crops and caused harvests to fail in southern Africa."



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Paladin Energy eyes cash injection

Paladin Energy eyes cash injection: "Uranium miner Paladin Energy is closing in on a recapitalisation deal that will usher in another strategic investor and ease looming debt concerns.

As this column reported in March, the fresh stakeholder is likely to be a Chinese player, entering via a strategic placement struck at a significant premium to the volume weighted average price."



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World Bank contradicts Goodal Gondwe: attaining economic stability remains farfetched dream for Malawi - The Maravi Post

World Bank contradicts Goodal Gondwe: attaining economic stability remains farfetched dream for Malawi - The Maravi Post: "BLANTYRE-(MaraviPost)—Malawians should brace for long period of tough ride as the World Bank says attaining economic stability still remains a challenge for Malawi on the basis of adverse weather conditions and resulting food shortages, which are negatively impacting on the economic growth.The World Bank expects the economy to grow by 2.6 percent, a sharp contrast to Finance Minister, Goodall Gondwe’s, 5.1 growth estimate."



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Tuesday, July 19, 2016

AmaBhungane: Politically connected brothers, scandal, toxic loans – Malawi edition | Daily Maverick

AmaBhungane: Politically connected brothers, scandal, toxic loans – Malawi edition | Daily Maverick: "Sterling Timber received a 1.4-billion kwacha (R58-million) loan from Malawi Savings Bank (MSB) in 2011 to set up a timber processing plant, which it never built.

The Centre for Investigative Journalism Malawi has now been reliably informed that the treasury paid its debt to MSB – which allegedly still stood at R58-million – when the bank was sold to a private company last year."



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Monday, July 18, 2016

Let Malawi enjoy earnings from its pigeon pea exports | The Times Group

Let Malawi enjoy earnings from its pigeon pea exports | The Times Group: "Malawi produces and exports a lot of pigeon peas but the country hardly benefits from the trade due to the unregulated commodities market in the country which results in informal exports and massive under-declaration of proceeds by exporters.

With the pigeon pea marketing season now underway in Malawi, there are still no measures the government has put in place to ensure that exports for the crop and other agricultural commodities are fully accounted for despite evidence that a large chunk of foreign exchange earned from exports of these crops does not come back into the country."



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Saturday, July 16, 2016

Malawi Kwacha falls 6% in 2016 first half | The Times Group

Malawi Kwacha falls 6% in 2016 first half | The Times Group: "A report shows that the kwacha lost value against the United States dollar by nearly six percent in the first half of 2016.

The report, released by Nico Asset Managers, has attributed the fall to low tobacco prices and high rejection rates that have negatively affected the inflow of foreign currency. It also cites the strengthening of the dollar against other currencies as a contributing factor."



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Thursday, July 14, 2016

Pension assets now at K323bn | The Times Group

Pension assets now at K323bn | The Times Group: "Assets of Malawi’s pension sector grew by 6.86 percent from K302.27 billion in September 2015 to K323.0 billion in March 2016 as pension contributions and investment income surged, the Reserve Bank of Malawi has said.

In its June 2016 Financial Stability Report, RBM, however, notes that the growth was moderated due to a decrease in market value of listed equities from K123.6 billion in September 2015 to K111.30 billion in March 2016."



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Wednesday, July 13, 2016

Malawi Government Delays Civil Servant Pensions - Footprint to Africa

Malawi Government Delays Civil Servant Pensions - Footprint to Africa: "Government says it has delayed the mandatory contributory pension scheme for civil servants because of lack of resources.
Spokesperson for Finance ministry Nations Msowoya said the government needs K380 billion as a starter up fund to kick start the scheme"



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Tuesday, July 12, 2016

Embassy courting UK investors for 2nd MIF | The Times Group

Embassy courting UK investors for 2nd MIF | The Times Group: "The Malawi Mission in the United Kigdom says it has started to engage potential investors as Malawi gears up for the second Malawi Investment Forum (MIF) to take place in October.

The first MIF attracted investment pledges of over $1.5 billion.

Malawi High Commissioner in the UK, Kena Mphonda, said they are currently holding discussions with the Commonwealth Enterprise and Investment Council, the Portuguese Chambers of Commerce and the London Chamber of Commerce to mobilise business delegations from the United Kingdom to attend the event."



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Monday, July 11, 2016

Rail targeted for fuel imports | The Times Group

Rail targeted for fuel imports | The Times Group: "The National Oil Company of Malawi (Nocma) is planning to maximise use of the Nacala Port as an alternative route for transporting fuel imports as concerns surrounding petroleum products coming into the country through Beira deepen.

Recent reports indicate that some fuel tankers were intercepted while on their way to Malawi by unknown militia groups in Mozambique igniting suspicions of a fuel shortage hitting Malawi if authorities do not identify alternative routes to ferry the petroleum products."



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Thursday, July 7, 2016

Mkango’s new listing lifts investment image | The Times Group

Mkango’s new listing lifts investment image | The Times Group: The Department of Geological Survey and the Malawi High Commission in United Kingdom have applauded Mkango Resources for raising �1 million to list on the AIM London Stock Exchange describing the move as a huge boost to Malawi’s investment image.

Mkango’s new listing lifts investment image | The Times Group

Mkango’s new listing lifts investment image | The Times Group: The Department of Geological Survey and the Malawi High Commission in United Kingdom have applauded Mkango Resources for raising �1 million to list on the AIM London Stock Exchange describing the move as a huge boost to Malawi’s investment image.

Tuesday, July 5, 2016

Malawi Reviewing Exports To Zimbabwe - Capital Radio Malawi

Malawi Reviewing Exports To Zimbabwe - Capital Radio Malawi: "Trade authorities are in the process of reviewing Malawi’s exports to Zimbabwe.

This is to assess the impact of the Zimbabwe’s recent import ban on the exports."



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Monday, July 4, 2016

Consortium to invest $4.2bn in power plant | | The Nation Online

Consortium to invest $4.2bn in power plant | | The Nation Online:



Staff @ July 4, 2016 0 Comments  
A consortium of companies from South Africa and overseas called Project DoXA plans to 

embark on a $4.2 billion (about K3 trillion) energy generation project to build a coal-fired 

power plant in Neno. Once completed, the plant is set to have an installed capacity of 2 400 megawatts (MW) to 

provide electricity to almost 80 percent of the country's households and companies. 


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Saturday, July 2, 2016

Business confidence remains at low levels | The Times Group

Business confidence remains at low levels | The Times Group: "A report by the World Bank says most players in the business sector are still unsatisfied with the business conditions prevailing in the country and the bank has warned that this may lead to a decline in investment and growth.

In its third edition of the Malawi Economic Monitor, the World Bank blames the situation on the extended period of macroeconomic instability characterised by high interest and inflation rates that undermines the profitability of new investments.

The World Bank has also identified weather shocks, unreliable power supply and delayed payments and issuance of zero coupon bonds as being among the constraints making the business environment even more challenging."



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Thursday, June 30, 2016

Malawi-China Investment Forum: APM Advances Industralization Drive For Economic Emancipation | Malawi Voice

Malawi-China Investment Forum: APM Advances Industralization Drive For Economic Emancipation | Malawi Voice: "Malawi’s transition from aid to trade demands massive industrialization drive which should be underlined by building capacity among local investors and courting foreign investors into the economy, says President Arthur Peter Mutharika.

He was speaking in Lilongwe on Tuesday when he opened the Malawi-China Investment Forum. “We have a broader investment agenda because we are broadening and diversifying the sources of our economy. We are moving Malawi from a consuming and importing economy to a producing and exporting economy. Therefore, you have come at the right time in our history, “ said the President."



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Part of IMFs US$ 76.8million To Go Towards Maize Procurement-Goodall | Malawi Voice

Part of IMFs US$ 76.8million To Go Towards Maize Procurement-Goodall | Malawi Voice: "Part of IMFs US$ 76.8million To Go Towards Maize Procurement-Goodall
By Malawi Voice Reporter on June 21, 2016No Comment

Finance Minister Goodall Gondwe
Finance Minister Goodal Gondwe on Tuesday disclosed that part of US$76.8million approved by the International Monetory Fund (IMF) is to be channeled toward procurement of maize"



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World Bank Pegs Malawi’s Growth at 2.6 %

World Bank Pegs Malawi’s Growth at 2.6 %:



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Rail targeted for fuel imports | The Times Group

Rail targeted for fuel imports | The Times Group: "The National Oil Company of Malawi (Nocma) is planning to maximise use of the Nacala Port as an alternative route for transporting fuel imports as concerns surrounding petroleum products coming into the country through Beira deepen."



'via Blog this'

Malawi, Mozambique partner to boost revenue collection | The Times Group

Malawi, Mozambique partner to boost revenue collection | The Times Group: "he Malawi Revenue Authority (MRA) says the Government of Malawi and Mozambique have reached an agreement which will see MRA and the Mozambique Revenue Authority signing a new Memorandum of Understanding (MoU) to facilitate effectiveness on matters relating to revenue collection."



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Tuesday, June 28, 2016

Inflation makes u-turn in May | The Times Group

Inflation makes u-turn in May | The Times Group: "After months of deceleration, Malawi’s headline inflation made a u-turn and started rising as food prices surged.

Ironically, the food prices have started to rise barely two months after harvest, a sign that the worst is yet to come.

According to the National Statistical Office (NSO) headline inflation inched up by 0.6 percentage points from 20.9 percent in April to 21.5 percent."



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Monday, June 27, 2016

PCL forecasts stability over next six months | The Times Group

PCL forecasts stability over next six months | The Times Group: Dual listed conglomerate, Press Corporation Limited (PCL), says despite Malawi’s economic outlook being mixed and murky, prospects are high for a stable macro-economic environment as most economic fundamentals have taken on a positive trajectory.

Saturday, June 25, 2016

French-financed Geological Mapping and Minerals Assessment Project Launched in Malawi | Mining in Malawi

French-financed Geological Mapping and Minerals Assessment Project Launched in Malawi | Mining in Malawi: Yesterday on�15 June 2016, Hon Bright Msaka SC, Malawi’s Minister for Natural Resources, Energy and Mining launched�the five-year Geological Mapping and Mineral Assessment Project (GEMMAP) in Lilongwe. The Government of France through a grant is supporting the project that aims to acquire geo-scientific and mineral occurrence data to be used to promote and maximise the mining sector’s contribution to the country’s socio-economic development.

Malawi-China Investment Forum: APM Advances Industralization Drive For Economic Emancipation | Malawi Voice

Malawi-China Investment Forum: APM Advances Industralization Drive For Economic Emancipation | Malawi Voice: Malawi’s transition from aid to trade demands massive industrialization drive which should be underlined by building capacity among local investors and courting foreign investors into the economy, says President Arthur Peter Mutharika.

Friday, June 24, 2016

Down but not out: Africa's uranium producers - African Business Magazine

Down but not out: Africa's uranium producers - African Business Magazine: "Located in the northwest of Malawi’s Karonga district, just a few kilometres from the border crossing with Tanzania at Songwe, the once highly populated and internationally known Kayelekera uranium mine is now abandoned.

In 2014, mining operator Paladin Africa Limited (PAL), a subsidiary of Australian Paladin Energy, suspended production due to falling prices for uranium coupled with high operating costs."



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Africa: Tanzania-Zambia Railway Wins Deal to Transport Malawi Fuel - allAfrica.com

Africa: Tanzania-Zambia Railway Wins Deal to Transport Malawi Fuel - allAfrica.com: "Malawi government has contracted Tanzania-Zambia Railway Authority (TAZARA) to transport 48 million litres of petroleum products from Dar es Salaam port in the next 12 months, starting from next month."



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Malawi President Peter Mutharika on Tuesday urged Chinese

Coastweek - The most from the coast: Malawi President Peter Mutharika on Tuesday urged Chinese investors to venture into various enterprises in Malawi to help promote the country’s agenda of increasing exports.

Mutharika extended the invitation during the launch of Malawi-China Investment Forum held in Malawi Capital, Lilongwe, where over 300 business captains from Malawi and China’s Anhui Province met to discuss business deals.

The Malawi leader described China as one of Malawi’s best friends and trading partners.

“We are moving Malawi from aid to trade,” said Mutharika in his keynote address. “This demands that we must be producing and exporting in several sectors.”

Tuesday, June 21, 2016

IMF extends Malawi loan programme, adds $80 mln for drought measures | Daily Mail Online

IMF extends Malawi loan programme, adds $80 mln for drought measures | Daily Mail Online: LILONGWE, June 20 (Reuters) - The International Monetary Fund (IMF) will increase loans to Malawi by $76.8 million, the global lender said on Monday following an economic review of the drought-hit country.

The IMF said it was also augmenting Malawi's Extended Credit Facility (ECF) arrangement, signed in 2012, by another six months with funding equivalent to $49.2 million

Monday, June 20, 2016

Rail transit time to improve | The Times Group

Rail transit time to improve | The Times Group: The Central East African Railways (Cear) has said transit time for goods is expected to improve following rehabilitation works on the Limbe – Nkaya rail line.

Cear last year embarked on a multi-million kwacha rehabilitation works of the rail line expected to be complete next year.

Rail transit time to improve | The Times Group

Rail transit time to improve | The Times Group: The Central East African Railways (Cear) has said transit time for goods is expected to improve following rehabilitation works on the Limbe – Nkaya rail line.

Cear last year embarked on a multi-million kwacha rehabilitation works of the rail line expected to be complete next year.

The company’s Communications and Corporate Image Manager Chisomo Mwamadi said Cear targets to improve the transport industry in the country.

He said the rehabilitation works will help improve transit time as most customers complained of delays.

Friday, June 17, 2016

‘Power agreements could end blackouts’ | The Times Group

‘Power agreements could end blackouts’ | The Times Group: "Malawi, with its perennial power shortages, is expected to benefit from power trading agreements which the Southern African Power Pool is pioneering in some countries on the African continent including Botswana, South Africa, Mozambique, Lesotho, Zambia and Zimbabwe."



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Kotug starts operations in Mozambique

Kotug starts operations in Mozambique: Kotug Mozambique has commenced exclusive port and terminal towage services with two powerful Rotortugs in the new port of Nacala-a-Velha in northern Mozambique, for Nacala Development Corridor (CDN). Operations are being supported by local management and experienced crew.

Wednesday, June 15, 2016

More blackouts ahead | The Times Group

More blackouts ahead | The Times Group: The Electricity Supply Corporation of Malawi (Escom) says Malawians should expect more blackouts in the days ahead as the utility grapples with a fresh challenge of low water levels in Lake Malawi.

Mozambique: Vale Ceases Use of Sena Line - allAfrica.com

Mozambique: Vale Ceases Use of Sena Line - allAfrica.com: Maputo — The Brazilian mining company Vale has stopped using the Sena railway line to transport coal from its mine at Moatize in the western Mozambican province of Tete to the port of Beira, following two attacks on its trains last week by gunmen of the rebel movement Renamo.

Sunday, June 12, 2016

Mozambique: New Investments Planned for Nacala Railways - allAfrica.com

Mozambique: New Investments Planned for Nacala Railways - allAfrica.com: "
Mozambique: New Investments Planned for Nacala Railways
The rail corridor from the northern Mozambican port of Nacala-a-Velha to the Moatize coal basin in Tete province will receive three billion US dollars of new investment to boost its capacity to transport the coal produced in Moatize, according to the Mozambican government spokesperson, Deputy Health Minister Mouzinho Saide.
Speaking on Tuesday at the end of the weekly session of the Council of Ministers (Cabinet) he said that 1.9 billion dollars will be invested in Mozambique and the rest in Malaw


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Friday, June 10, 2016

France gives €10.2m to boost mining sector | The Times Group

France gives €10.2m to boost mining sector | The Times Group: "The French government has given €10.2 million to assist in the implementation of the Geological Mapping and Mineral Assessment Project (Gemmap) being implemented through the Department of Mining.

The project is scheduled to be launched on June 15 at the Bingu International Conference Centre by Minister of Natural Resources, Energy and Mining, Bright Msaka"



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Thursday, June 2, 2016

Aussie firm pens deal with Malawi’s Escom for 120MW power plant – Mining & Trade Review (May 2016) | Mining in Malawi

Aussie firm pens deal with Malawi’s Escom for 120MW power plant – Mining & Trade Review (May 2016) | Mining in Malawi: ASX-listed Intra Energy Corporation, which is developing the 120MW Pamodzi Coal-fired Power Plant in Malawi’s lakeshore district of Salima, has announced the signing of a term sheet relating to the power purchase agreement with the Electricity Supply Corporation of Malawi (Escom)

Malawi eyeing several interconnectors to solve power woes – Mining & Trade Review (May 2016) | Mining in Malawi

Malawi eyeing several interconnectors to solve power woes – Mining & Trade Review (May 2016) | Mining in Malawi: By Chiku Jere

Government says notable progress is being made towards sourcing power from neighbouring countries through interconnectors in an effort to address Malawi’s historical power woe

Sunday, May 29, 2016

Malawi finance minister Goodal Gondwe unveils punitive national budget; VAT introduced on sugar, salt, bread and soap - The Maravi Post

Malawi finance minister Goodal Gondwe unveils punitive national budget; VAT introduced on sugar, salt, bread and soap - The Maravi Post: LILONGWE (Maravi Post)—Malawi Finance Minister Goodall Gondwe on Friday unveiled a MK1.2 trillion national budget up from K917 billion which has seen social analysts describing it as a punitive package due to the introduction of taxes-Value Added Tax (VAT) on essential commodities for the rural people whose income still remain less than a dollar a day.

Cement output cut by over 50% | The Times Group

Cement output cut by over 50% | The Times Group: A slow-down in economic activities has forced a reduction in cement production by close to 50 percent as players in the sector engage survival tactics in order to remain sustainable in the long-term

Wednesday, May 4, 2016

UK’s GHE to establish US$300m solar project | The Times Group

UK’s GHE to establish US$300m solar project | The Times Group: Greenheart Energy (UK) Limited (GHE) has pledged to invest over US$300 million in Malawi’s energy sector and the investment will include the establishment of three solar power plants, one for each region of the country.

GHE expressed interest to enter the Malawi market during last year’s Africa Global Summit which was held in London in December and a Memorandum of Understanding between the government and the company was signed on January 29, 2016.

Friday, April 29, 2016

What's needed to help mining minnows get off the ground in Africa

What's needed to help mining minnows get off the ground in Africa: Malawi has aspirations to increase mining contributions to GDP from 1% to 20% by 2020. But community-company relations in the mining sector are typical of those across the continent: not good. This, in turn, is not good for investment in the sector.

Monday, April 18, 2016

Malawi’s Strategic Fuel Reserves ready for commissioning in July 2016 - The Maravi Post

Malawi’s Strategic Fuel Reserves ready for commissioning in July 2016 - The Maravi Post: The much awaited strategic three fuel reserves the Malawi government has completely constructed in a bid to improve fuel security in the country is ready for commissioning in July 2016 starting with Lilongwe deport which the remaining two (Blantyre and Mzuzu) will follow, the Maravi Post has learnt.

Friday, April 8, 2016

Oversupply fears to lower tobacco prices | The Times Group

Oversupply fears to lower tobacco prices | The Times Group: The Tobacco Control Commission (TCC) has confirmed that it may not be able to find a market for about 40 million kilogrammes of tobacco this year after farmers produced more tobacco than what buyers have committed to buy. And TCC says farmers are likely to be offered low prices for the greengold this year as dictated by the law of demand and supply.

Government restores exploration licences | The Times Group

Government restores exploration licences | The Times Group: Government says it has given a go ahead to some companies involved in oil and gas exploration in the country to resume their operations after a legal opinion from the Attorney General found that they were operating in compliance with their licence provisions.

Tuesday, April 5, 2016

Chinese funds up for grabs | The Times Group

Chinese funds up for grabs | The Times Group: Malawi could benefit from a US$60 billion investment package the Chinese Government is offering African countries, if the country puts its house in order, The Daily Times has learnt. The package was unveiled last year by Chinese President Xi Jinping during the 2015 China-Africa forum in South Africa

Sunday, April 3, 2016

Power commitments at 4000 megawatts | The Times Group

Power commitments at 4000 megawatts | The Times Group: The Independent Power Producers (IPPs) that government is currently engaging have committed to add 4,000 megawatts to Malawi’s generation capacity, Minister for Natural Resources, Energy and Mining, Bright Msaka, has disclosed. Msaka also dismissed reports that the two sides struck a stalemate on the deals. He said discussions are progressing well with the investors looking at their financial model.

Thursday, March 31, 2016

Facing the brutality of high lending rates | The Times Group

Facing the brutality of high lending rates | The Times Group: In February 2015, Blantyre-based businessman Richard Chaponda had a rude awakening when officers from one of the commercial banks in the country stormed his Dika Hotel in Chirimba to repossess it over a loan he had obtained from the bank in 2012

Friday, March 25, 2016

IMF projects Malawi 2016 growth at 4% | The Times Group

IMF projects Malawi 2016 growth at 4% | The Times Group: The International Monetary Fund (IMF) has projected Malawi’s economy to grow between 3 and 4 percent in 2016, subject to weather conditions.

The fund has since pegged Malawi’s gross domestic product (GDP) for 2015 at 3 percent.

In a statement issued at the end of a review mission in Malawi on Wednesday, the IMF also expects Malawi’s inflation to continue going down.

Thursday, March 24, 2016

IMF declares Malawi fit for Extended Credit Facility | News24

IMF declares Malawi fit for Extended Credit Facility | News24: "Lilongwe - The International Monetary Fund (IMF) has declared that Malawi is on track to revive the Extended Credit Facility (ECF) programme due to good management of domestic finance since September 2015.

The ECF, a tool for medium-term financial support, was approved in July 2012 and is aimed at low income member states such as Malawi, local newspaper Nyasa Times reported."



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Wednesday, March 23, 2016

Nacala Corridor wagon lease signed - Railway Gazette

Nacala Corridor wagon lease signed - Railway Gazette: AFRICA: Northern Mozambique railway concessionaire Corredor De Desenvolvimento Do Norte has signed a five-year agreement to lease 100 grain wagons from GPR Leasing Africa for use between Bakhresa Malawi Ltd’s grain terminal at the Port of Nacala and a milling and packing plant in Malawi

Friday, March 18, 2016

Malawi kwacha seen stabilising, 2016 growth pegged at over 4 percent

Malawi NEWSNow � Malawi kwacha seen stabilising, 2016 growth pegged at over 4 percent: LILONGWE�(Mabvuto Banda and Ed Stoddard, Reuters) – Malawi should see economic growth pick up to more than 4 percent in 2016 from about 3 percent last year as the country recovers from a drought caused by the El Nino weather pattern, its finance minister sai

Malawi NEWSNow � Malaw govt to issue and sign power purchasing agreement this year

Malawi NEWSNow � Malaw govt to issue and sign power purchasing agreement this year: Government through the Electricity Corporation of Malawi (ESCOM) said it will issue and sign the first Power Purchase Agreement (PPA) in the first quarter of 2016.

Nacala transit time reduced 50 percent | The Times Group

Nacala transit time reduced 50 percent | The Times Group: Transit time for goods between Liwonde in Malawi and the port of Nacala in Mozambique has been reduced to just two days from four days following rehabilitation of the railway line by Vale International.

Wednesday, March 9, 2016

Zambia Impounds 28 Maize Trucks On Way to Malawi - allAfrica.com

Zambia Impounds 28 Maize Trucks On Way to Malawi - allAfrica.com: The Zambia Revenue Authority (ZRA) has reportedly impounded 28 maize-laden trucks destined for Malawi.

According to Times of Zambia, the vehicles did not have export permits from Zambia's ministry of agriculture

Malawi, France to Launch Mapping of Geological Resources Wealthy U.S$12 Million - allAfrica.com

Malawi, France to Launch Mapping of Geological Resources Wealthy U.S$12 Million - allAfrica.com: Lilongwe — The New French Ambassador Laurent Delahousse, disclosed that there is a big development between Malawi and Government of France which is yet to be launched on mapping of geological resources of the country

China's economic downturn 'will not affect' projects in Malawi - Capital Radio Malawi

China's economic downturn 'will not affect' projects in Malawi - Capital Radio Malawi: The government of Malawi has played down suggestions that delays in the commencement of the Chinese funded projects in the country are due to the economic challenges China is facing.

Tuesday, March 8, 2016

Lake Malawi oil licences retained | The Times Group

Lake Malawi oil licences retained | The Times Group: The Malawi government has maintained all oil and gas exploration licencees that were awarded before the suspension of exploration work in 2014 by President Peter Mutharika over suspected irregularities in the licencing.

Northern Development Corridor in Mozambique leases 100 railway waggons | Macauhub English

Northern Development Corridor in Mozambique leases 100 railway waggons | Macauhub English: The Northern Development Corridor (CDN) company in Mozambique has signed a five-year lease contract with South Africa’s GPR Leasing Africa under which it will receive 100 grain hopper waggons, GPR said

Monday, March 7, 2016

What's needed to help mining minnows get off the ground in Africa

What's needed to help mining minnows get off the ground in Africa: Malawi has aspirations to increase mining contributions to GDP from 1% to 20% by 2020. But community-company relations in the mining sector are typical of those across the continent: not good. This, in turn, is not good for investment in the sector

AfDB mission in Malawi to assess progress - Africa - News - StarAfrica.com

AfDB mission in Malawi to assess progress - Africa - News - StarAfrica.com: AfDB mission in Malawi to assess progress
Posted by: APA Posted date : March 6, 2016 at 8:33 pm UTC 15 views In : Africa
A team of experts from the African Development Bank (AfDB) arrived in Malawi on Sunday for a week-long meeting with the government to determine the extent of its development over the past few years. The mission is scheduled to hold from Monday to Friday

Malawi opens consulate and trade office at Tete | The Times Group

Malawi opens consulate and trade office at Tete | The Times Group: Malawi has finally opened a consulate and trade office at Mozambique’s booming city of Tete to operate as a regional marketing office for Malawi’s products.

Malawi’s Minister of Trade and Industry, Joseph Mwanamvekha, officially opened the office on Friday while in Tete where he led Malawi’s delegation during bilateral trade talks with Mozambique.

AfDB mission in Malawi to assess progress - Africa - News - StarAfrica.com

AfDB mission in Malawi to assess progress - Africa - News - StarAfrica.com: A team of experts from the African Development Bank (AfDB) arrived in Malawi on Sunday for a week-long meeting with the government to determine the extent of its development over the past few years. The mission is scheduled to hold from Monday to Frida

Thursday, March 3, 2016

Nacala corridor signs $8m rolling stock deal; port tender delayed - Zitamar

Nacala corridor signs $8m rolling stock deal; port tender delayed - Zitamar: The Corredor De Desenvolvimento Do Norte (CDN), comprising Mozambique’s northern rail network, Malawi’s rail system, and the Port of Nacala, has signed a 5-year, ZAR 120 million ($7.7 million) deal to lease 100 grain wagons from GPR Leasing, a joint venture between South African logistics firm Grindrod, and the Pembani Remgro Infrastructure Fund (PRIF).

Wednesday, March 2, 2016

Companies from Mozambique, China and South Africa build pipeline in Mozambique | Macauhub English

Companies from Mozambique, China and South Africa build pipeline in Mozambique | Macauhub English: "Public and private companies from Mozambique, South Africa and China signed a cooperation agreement that focuses on building a large diameter pipeline with a length of 2,600 kilometres costing US$6 billion, reported the South Africa’s SacOil."



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Saturday, February 27, 2016

CFTC approves MSB, FDH merger | The Times Group

CFTC approves MSB, FDH merger | The Times Group: Close to a year after, purchase of a majority shares in the then government-owned Malawi Savings Bank (MSB) by FDH Financial Holdings Limited, the Competition and Fair Trading Commission (CFTC) has approved the merger of MSB and FDH Bank which became necessary following the deal.

Second investment forum slated for Oct 2016 | The Times Group

Second investment forum slated for Oct 2016 | The Times Group: After a successful investment forum last year, Malawi will once again host the second event in October this year.

The first ever Malawi Investment Forum (MIF) which was held in June last year raked in investment commitments of over US$1.5 billion by August from the initial US$1.1 billion on the closure of the forum.