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."



'via Blog this'

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."



'via Blog this'

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."



'via Blog this'

Goodall says IMF, World Bank imposed anti-corruption bureau to Malawi: Grilled on BBC why no minister has been charged of ‘cashgate’ - Malawi Nyasa Times - Malawi breaking news in Malawi

Goodall says IMF, World Bank imposed anti-corruption bureau to Malawi: Grilled on BBC why no minister has been charged of ‘cashgate’ - Malawi Nyasa Times - Malawi breaking news in Malawi: "Finance Minister Goodall Gondwe told BBC News that governance institutions such as the Anti Corruption Bureau (ACB) were imposed by World Bank and International Monetary Fund (IMF), saying the system ineffectiveness should not be blamed on Malawi."



'via Blog this'

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)."



'via Blog this'

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."



'via Blog this'

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
Luke Bisani

How to Stop Snoring and Improve Your Health

No Pill Can Stop Tinnitus But This "Method" Can

Do This Before Bed And You'll Never Need Gym or Diet

Diabetes Breakthrough That Will Bankrupt Diabetes Industry

?
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."



'via Blog this'

Doubts persist over Lake Malawi exploration | Natural Gas Daily

Doubts persist over Lake Malawi exploration | Natural Gas Daily: "
Natural Gas Daily ▾
Global Gas Analytics ▾
EnergyHub ▾
Events
Log in or free trial
AFRICA EXPLORATION & PRODUCTION
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."



'via Blog this'

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."



'via Blog this'

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.

"



'via Blog this'

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."



'via Blog this'

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"



'via Blog this'

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."



'via Blog this'

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"



'via Blog this'

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"."



'via Blog this'

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."



'via Blog this'

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."



'via Blog this'

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. "



'via Blog this'

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."



'via Blog this'

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."



'via Blog this'

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."



'via Blog this'

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."



'via Blog this'

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"



'via Blog this'

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."



'via Blog this'

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."



'via Blog this'

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."



'via Blog this'

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."



'via Blog this'

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."



'via Blog this'

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."



'via Blog this'

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"



'via Blog this'