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Saturday, December 30, 2017

Business performance improves in 2017—MCCCI - The Nation Online

Business performance improves in 2017—MCCCI - The Nation Online:





Despite persistent power blackouts, business performance in 2017 slightly improved compared 
to 2016, a 2017 Malawi Business Climate survey report has shown. 
Malawi Business Climate survey is a flagship report of the Malawi Confederation of Chambers of 


Commerce and Industrv (MCCCI). 


'via Blog this'

Malawi among 15 holiday destinations for 2018 - The Nation Online

Malawi among 15 holiday destinations for 2018 - The Nation Online:





Malawi has earned itself a spot among 15 holiday destinations for 2018 by travel experts of a

United Kingdom-based international magazine, Cosmopolitan.

The magazine's travel advisory released mid this month describes Malawi as an untapped safari

destination that prides itself on the incredible conservation efforts of 500 elephants campaign

and the return of The Lake of Stars Music Festival.



'via Blog this'

Friday, December 29, 2017

Malawi Financial Mirror: Malawi News Agency Online - AICC asks government t...

Malawi Financial Mirror: Malawi News Agency Online - AICC asks government t...: Malawi News Agency Online - AICC asks government to invest K3.5 billion into cotton industry : "Mzuzu, December 28, 2017:  African Inst...

Malawi News Agency Online - AICC asks government to invest K3.5 billion into cotton industry

Malawi News Agency Online - AICC asks government to invest K3.5 billion into cotton industry: "Mzuzu, December 28, 2017:  African Institute of Corporate Citizenship (AICC) in Malawi has asked government to inject US$4.8 million (about K3.5 billion) into cotton farming to revive the industry which it says is at the verge of collapsing.

AICC Chief Executive Officer (CEO) Felix Lombe told journalists on Wednesday in Mzuzu that Malawi’s cotton production has gone down from 100,000 metric tons in 2012 to around 15,000 in 2017.

He said the decline is worrisome because, among other crops, cotton remains one of the best forex earners that can replace tobacco."



'via Blog this'

Marvel at Malawi | The Voice Online

Marvel at Malawi | The Voice Online: "RAPIDLY EMERGING African destination Malawi was in the spotlight at the 2018 Safari Awards, held at the World Travel Market in
London earlier this month. This was largely due to the huge success of Tongole Wilderness Lodge, which received Best in Africa
awards in three categories.

Based in Nkhotakota Wildlife Reserve, the lodge is an exciting and evolving story in a particularly disadvantaged region of Malawi. Two main objectives were at the heart of its conception. Firstly, to establish an eco-friendly business that would create employment opportunities and long-term benefits for people from a particularly disadvantaged region of Malawi."



'via Blog this'

Electricity tops business obstacles | The Times Group



The Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has rated

intermittent power supply as the top obstacle to doing business in 2017.

In its Malawi Business Climate Survey (MBCS) for 2017, MCCCI says electricity is the most

problematic factor, with a rating of 9.6 out of 10.

In 2016, electricity was the third most problematic factor with a rating of 8.7.

MCCCI says the high rating reflects lack of serious investments in energy.

"Businesses have had a lot of expectations from alternative sources of power planned by

government such as the Kam'mwamba Coal-Fired Plant, solar power plants and stand by

generators, among others.
x
Electricity tops business obstacles | The Times Group:



'via Blog this'

Thursday, December 28, 2017

Castel invests K16.1bn in Carlsberg Malawi | Malawi Nyasa Times - Malawi breaking news in Malawi

Castel invests K16.1bn in Carlsberg Malawi | Malawi Nyasa Times - Malawi breaking news in Malawi: "Castel Group has revealed that it invested about $22 million (about K16.1 billion at current exchange rate) in Carlsberg Malawi which has since changed to Castel Malawi Limited.



Castel Managing Director, Olivier Renson told the media that the company has increased its production, a sign of business growth in Malawi.

“In 2017 alone, we have invested $22 million into the business by introducing a new range of products. We have increased our product stock keeping units from 32 to 62. We hope that this level of investment sends a message to Malawi, at large, of our intention to stay the biggest beverage producer in the country,” Renson said."



'via Blog this'

Nico Holdings in tourism investments: To build 5-star hotel in Lilongwe | Malawi Nyasa Times - Malawi breaking news in Malawi

Nico Holdings in tourism investments: To build 5-star hotel in Lilongwe | Malawi Nyasa Times - Malawi breaking news in Malawi: "Nico holdings limited plc has unveiled its ambitious plans that will see it constructing a five star Hotel in the country’s capital Lilongwe within the next twelve months.




Kumwenda: Hotel plans

The managing director for the holding company Vizenge Kumwenda told journalists in Blantyre on the sidelines of the holdings extraordinary annual general meeting."



'via Blog this'

Banks to effect new rates in January | The Times Group



Malawians will have to wait a little longer before they can start enjoying cheaper and varied

borrowing rates from the banking sector eight days after the Reserve Bank of Malawi (RBM)

announced a cut in the policy rate from 18 to 16 percent.

Most banks are yet to respond to the monetary policy stance taken by RBM and those that have,

say the new rates will only become effective in January next year.

Both National Bank of Malawi (NBM) and Standard Bank Malawi have set their base lending rates

at 23 percent from 25 percent but to become effective on January 1 in the case of NBM and
x


Banks to effect new rates in January | The Times Group:



'via Blog this'

Wednesday, December 27, 2017

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



Banks yet to react to policy rate cut

Posted By: William Kumwembe on: December 27, 2017 In: Business No Comments

Most commercial banks are yet to react to the policy rate cut effected by the Reserve Bank of

Malawi (RBM) last Wednesday.

The policy rate is now at 16 percent from 18 percent.

At a press briefing held in the administrative capital, Lilongwe, last week, RBM Governor, Dalitso

Kabambe, attributed the policy move to recent trends on inflation statistics and the desire to

consolidate economic gains.

Banks yet to react to policy rate cut | The Times Group:



'via Blog this'

Malawi opposition parties attack Banks and MRA - The Maravi Post

Malawi opposition parties attack Banks and MRA - The Maravi Post: "Malawi opposition political parties have attacked commercial banks in the country and Malawi Revenue Authority (MRA) for killing  small and medium enterprises (SMEs) in the nation with huge interests.

The parties are Malawi Congress Party (MCP), United Transformation Party (UTP), New Labour Party (NLP), People’s Progressive Movement (PPM), United Independent Party (UIP) and Malawi Forum for Unity and Development (Mafunde) disclosed this at Grace Bandawe Conference Centre in Blantyre during a press conference"



'via Blog this'

Construction of Chipata – Petauke – Serenje Railway line to start next year | Q FM

Construction of Chipata – Petauke – Serenje Railway line to start next year | Q FM: "Government has disclosed that the construction of the US$2.3 billion Chipata-Petauke-Serenje railway line is expected to start next year.

Transport and Communication Minister Brian Mushimba says the project will enhance Zambia’s regional trade and transport competitiveness.

He says government has completed the major step of the environmental impact assessment for the construction of the green field railway lin"



'via Blog this'

Special economic zones project takes off—Mitc - The Nation Online



Special economic zones project takes

off—Mitc

Orama Chinamulungu @ December 27, 2017 o Comments

Malawi Investment Trade Centre (Mitc) says plans to establish special economic zones (SEZ)

designated areas within a country with special economic regulation are at an advanced stage as

land to pioneer the establishment of the zones has been identified.

In an interview, Mitc director of planning and research Felix Kadewere said Mitc is currently

putting in place the legal and operational framework in which the SEZ will operate.

Special economic zones project takes off—Mitc - The Nation Online:



'via Blog this'

2017: MSE improves in share value, volumes - The Nation Online

2017: MSE improves in share value, volumes - The Nation Online:





2017: MSE improves in share value,

volumes

Orama Chinamulungu @ December 27, 2017 o Comments

After several years of passive performance, the Malawi Stock Exchange (MSE) seem to have

picked up in the year just about to end by registering improvements in share value and volumes.

In the past 11 months, macroeconomic variables that have traditionally impacted on the local

stock market such as inflation and interest rates and a stable kwacha, performed well.



'via Blog this'

Tuesday, December 26, 2017

International Monetary Fund team jets in early 2018 | The Times Group

International Monetary Fund team jets in early 2018 | The Times Group:



International Monetary Fund team jets in early 2018 

Posted By: George Mhango on: December 26, 2017 In: Business No Comments 

The International Monetary Fund (IMF) has disclosed that a high level mission will jet into Malawi 
early next year to discuss key medium term macro-economic challenges and policies with 
government. 
This will be done in the context of IMF's periodic statutory consultations, referred to as Article IV 
consultation with its member countries. 
IMF Resident Representative, Jack Ree, confirmed the visit and said the mission would provide an 
opportunity to discuss a possible successor to the extended Credit Facility (ECF) programme. 
He said, in the discussions, the mission would try to identify ways to tackle unfinished works from 
the previous programme while safeguarding and building on the gains made. 


'via Blog this'

MACRA to cut cost of calls from Malawi mobile phone operators | Malawi Nyasa Times - Malawi breaking news in Malawi

MACRA to cut cost of calls from Malawi mobile phone operators | Malawi Nyasa Times - Malawi breaking news in Malawi: "Malawi Communication Regulatory Authority (MACRA) says from 1st January, 2018, it will start reducing calling rates in order for people to make phone calls at affordable prices in the country.  MACRA’s Director General Godfrey Itaye said this in Blantyre when he announced the setting up of maximum call termination rates towards improving affordability of making calls in the country."



'via Blog this'

Aftermath of diesel-powered generators; Electricity tariffs to go up by 24.67% - The Maravi Post

Aftermath of diesel-powered generators; Electricity tariffs to go up by 24.67% - The Maravi Post: "BLANTYRE-(MaraviPost)-Malawians will start dipping deeper in their pockets to pay for electricity as Malawi Energy Regulatory Authority (Mera) has approved a tariff hike of 24.57% but has instructed the state-owned Electricity Supply Corporation of Malawi (Escom) to effect the raise when they starts using the generators."



'via Blog this'

World Bank approves US $100 Million for Lilongwe-Water project - The Maravi Post

World Bank approves US $100 Million for Lilongwe-Water project - The Maravi Post: "WASHINGTON-(MaraviPost)-Half a million residents of Malawi’s capital city, Lilongwe, are set to benefit from improved water services and safely managed sanitation through a US$100 million project financed by the World Bank.

The World Bank this week approved financing for the six-year Lilongwe Water and Sanitation Project (LWSP) composed of a US$75 million credit and a $25 million grant from the International Development Association (IDA)"



'via Blog this'

Monday, December 25, 2017

MACRA to cut cost of calls from Malawi mobile phone operators | Malawi Nyasa Times - Malawi breaking news in Malawi

MACRA to cut cost of calls from Malawi mobile phone operators | Malawi Nyasa Times - Malawi breaking news in Malawi: "Malawi Communication Regulatory Authority (MACRA) says from 1st January, 2018, it will start reducing calling rates in order for people to make phone calls at affordable prices in the country. The termination rate is included in the tarrif

MACRA’s Director General Godfrey Itaye said this in Blantyre when he announced the setting up of maximum call termination rates towards improving affordability of making calls in the country."



'via Blog this'

Sunday, December 24, 2017

Malawi News Agency Online - Government says Mzuzu--Nkhata Bay Road to complete in April 2018

Malawi News Agency Online - Government says Mzuzu--Nkhata Bay Road to complete in April 2018: "Nkhata Bay, December 20, 2017:  Government has disclosed that state of the art K17 billion Mzuzu--Nkhata Bay Road which is being rehabilitated by Germany contractors, Strabag International will be completed in April 2018.

Minister of Transport and Public Works, Jappie Mhango disclosed this Monday after touring some development projects in the district."



'via Blog this'

Malawi On The Move:Textile Plant Set For Construction In Salima – Malawi Voice

Malawi On The Move:Textile Plant Set For Construction In Salima – Malawi Voice: "Cotton Council of Malawi (CCM) has disclosed that a textile manufacturing plant will be constructed in the lakeshore District of Salima as one way of promoting the dwelling cotton industry in the country.

The Chief Executive (CEO) for CCM, Cosmas Lwanda broke the news when his organization and African Institute of Corporate Citizenship (AICCC) had an interface meeting with members of the Parliamentary Committee on Agriculture of the National Assembly at Sunbird Capital Hotel Lilongwe recently."



'via Blog this'

Friday, December 22, 2017

MSE Pleased with 2017 Business Outcome

MSE Pleased with 2017 Business Outcome: "Blantyre, Dec 20: Malawi Stock Exchange (MSE) has expressed satisfaction with this year’s outcome on the stock market, saying it has registered significant progress in both traded values and volume.

Speaking in an interview with Malawi News Agency (MANA) Wednesday, MSE Operations Manager Esnart Chilije said the outcome of the stock market for this year is higher compared to previous years."



'via Blog this'

State Of Art MBS Laboratories Ready June

State Of Art MBS Laboratories Ready June: "The k12.4 billion international laboratories and offices complex for the Malawi Bureau of Standards (MBS) in Blantyre will be ready by June next year, officials have confirmed.

Director General Davlin Chokazinga confirmed to Zodiak by January next year, the contractor would have finished roofing and other general constructions.

Construction of the state of the art MBS offices and laboratories will reduce the need for the retesting, re-inspection and re-certification of goods from Malawi through Standardization and Quality Assurance in Malawi (SQAM) project outside the country."



'via Blog this'

Thursday, December 21, 2017

Malawi’s Tongole Wilderness Lodge awarded Best in Africa in 3 categories in the 2018 Safari Awards - The Maravi Post

Malawi’s Tongole Wilderness Lodge awarded Best in Africa in 3 categories in the 2018 Safari Awards - The Maravi Post: "Rapidly emerging African destination Malawi was in the spotlight at the 2018 Safari Awards, held at the World Travel Market in London on 6th November. This was largely due to the huge success of Tongole Wilderness Lodge, proudly receiving Best in Africa awards in three categories:"



'via Blog this'

Chibuku Products Limited to be sold | The Times Group

Chibuku Products Limited to be sold | The Times Group:







Chibuku Products Limited to be sold
Posted By: Grace Thipa on: December 19, 2017 In: Business No Comments
The Comesa Competition Commission has confirmed receiving a notification on the proposed
acquisition of Chibuku Products Limited by Delta Corporation Limited, a Zimbabwean public
company listed on the Zimbabwe Stock Exchange.
A merger inquiry notice number 26 of 2017 posted on the commission's website indicates that the
two parties involved in the transaction, Delta Corporation Limited and Malawi Traditional
Beverages Limited, have submitted that the transaction involves the acquisition of control by Delta
of Malawi Traditional Beverages Limited, a private company incorporated under the laws of
Malawi.



'via Blog this'

Bank, interest rates spread stir debate - The Nation Online

Bank, interest rates spread stir debate - The Nation Online:



Bank, interest rates spread stir debate

Orama Chinamulungu @ December 21, 2017 o Comments

The 10 percentage points gap between commercial bank lending rates and the bank rate has

stirred debate with some economists saying the spread is too much and a detriment to the

economy while others argue that it is justifiable.

When the Reserve Bank of Malawi (RBM) slashed the bank rate the rate at which the

commercial banks borrow money from the central bank by four percentage points to 18

percent from 22 percent, most commercial banks followed suit by cutting lending rates.



'via Blog this'

Reserve Bank reduces policy rate to 16% - The Nation Online

Reserve Bank reduces policy rate to 16% - The Nation Online:







The Reserve Bank of Malawi (RBM) has trimmed the policy rate the rate at which commercial

banks borrow from the central bank as lender of last resort by two percentage points from 18

percent to 16 percent.

This is the fourth time the central bank's Monetary Policy Committee (MPC) has reduced the

benchmark rate since November 2016, reducing by a total of 11 percentage points.



'via Blog this'

Rallying kwacha | The Times Group

Rallying kwacha | The Times Group:





Rallying kwacha

Posted By: William Kumwembe on: December 20, 2017 In: Business No Comments

In February 2012, then Malawi President Bingu wa Mutharika adamantly shot down demands by

the International Monetary Fund (IMF), donors and some economists to devaluate the kwacha.

His reasoning was interesting; "Doing that will only worsen poor people's lives."

Mutharika, an economist himself, was against the stand the IMF took, indicating that devaluing the

local currency would boost exports while taming demand for imports.



'via Blog this'

Malawi electricity tariffs to go up by 24.67%  with diesel-powered generators | Malawi Nyasa Times - Malawi breaking news in Malawi

Malawi electricity tariffs to go up by 24.67%  with diesel-powered generators | Malawi Nyasa Times - Malawi breaking news in Malawi: "Malawians will start dipping deeper in their pockets to pay for electricity as Malawi Energy Regulatory Authority (Mera) has approved a tariff hike of 24.57% but has instructed the state-owned  Electricity Supply Corporation of Malawi (Escom)  to effect the raise  when they starts using the generators."



'via Blog this'

Wednesday, December 20, 2017

President Mutharika presides over groundbreaking ceremony of Chichiri Business Park in Blantyre - The Maravi Post

President Mutharika presides over groundbreaking ceremony of Chichiri Business Park in Blantyre - The Maravi Post: "President Professor Arthur Peter Mutharika has said foreign direct investments is a vital catalyst for the country’s development.

Speaking on Tuesday during the ground breaking ceremony for the Sogecoa Business Park site at Chichiri in Blantyre, Mutharika said foreign direct investments, particularly from the Chinese Government have proved to be crucial to the country’s development."



'via Blog this'

Monday, December 18, 2017

Inflation eases to 7.7% in November | The Times Group

Inflation eases to 7.7% in November | The Times Group:





Inflation eases to 7.7% in November

Posted By: Taonga Sabola on: December 18, 2017 In: Business No Comments

Malawi's headline inflation continued on its downward trajectory, slowing to 7.7 percent in

November, the National Statistical Office has said.

The continued fall in inflation is largely driven by wide food availability, resulting in prices

remaining subdued.

Currently, the country's staple food, maize, is trading at an average price of K4,500 per 50

kilogramme bag.

The November inflation is just 1.4 percentage points shy of the record low of 6.3 percent in

December 2010



'via Blog this'

Saturday, December 16, 2017

EDF targets 120 000 tonnes rice export in 2018 - The Nation Online

EDF targets 120 000 tonnes rice export in 2018 - The Nation Online:



EDF targets 120 000 tonnes rice export 

in 2018 
Happy Mwachande @ December 14, 2017 o Comments 
Export Development Fund (EDF), a financing institution for export business, expects the country 
to export 120 000 tonnes of kilombero rice in 2018 through the pre-season contracts that have 
offered to farmers after securing markets for the crop. 
This development comes at a time rice growers are producing below the required demand, a 
situation they attribute to lack of viable markets for the commodity. 


'via Blog this'

Friday, December 15, 2017

Illovo's Fraud Case To Resume In Court Next Week • Nyasa Express

Illovo's Fraud Case To Resume In Court Next Week • Nyasa Express: "Illovo’s Fraud Case To Resume In Court Next Week
December 9, 2017 Nyasa Express 0 Comments Courts, Illovo, PHL
The high profile civil case in which Illovo Sugar Malawi (ISM) has been sued by its minority shareholder Prudential Holdings Ltd (PHL) over disputed payments abroad, returns to the Commercial Court in Blantyre on Monday and Tuesday, December 11-12.

The trial was postponed six months. Justice John Katsala is hearing the civil suit.

When it was being postponed, Senior Counsel Shabir Latif, representing Illovo, had been grilling Gordon Tembo, a partner of KPMG, whose firm had produced an assessment of the disputed payments on behalf of PHL."



'via Blog this'

Parliament Endorses K117 Billion Bill • Nyasa Express

Parliament Endorses K117 Billion Bill • Nyasa Express: "Parliament Endorses K117 Billion Bill
December 14, 2017 Nyasa Express Parliament, Shire Valley, World Bank
Parliament on Wednesday authorized the government to borrow $160 million (about K117 billion) from the World Bank to finance an ambitious agricultural project in the Shire Valley.

The project seeks to increase agricultural production through irrigation and support to farmer organisations.

The Shire Valley Transformation Project is expected to run for a period of 14 years from 2017 at a total value of $575 million to be funded through loans from the World Bank, African Development Bank (AfDB) and the Government of Malawi."



'via Blog this'

Malawi Kwacha Gains Ground Against Dollar • Nyasa Express

Malawi Kwacha Gains Ground Against Dollar • Nyasa Express: "Malawi Kwacha Gains Ground Against Dollar
December 14, 2017 Nyasa Express Inflation, Malawi Kwacha, US Dollar
The country’s currency, Kwacha, this week registered positive trends when it appreciated against major foreign currencies especially the United States dollar.

Malawi Kwacha has been largely stable for the past one year or so despite the country’s inflation going down to a single digit."



'via Blog this'

Egenco To Construct Dams To Ease Power Challenges

Egenco To Construct Dams To Ease Power Challenges: "Malawi's sole enrgy generating company EGENCO intends to tackle the challenge of low water levels by constructing dams.

The dams will be constructed from the rivers that feed into the Shire.

According to Moses Gwaza who is EGENCO's Senior Public Relations Manager,they are expected to start construction of the dams sometime next year."



'via Blog this'

K18bn MJ Mountain Project Starts: To Tap Water From The Mountain To BT City & Surrounding Areas – Malawi Voice

K18bn MJ Mountain Project Starts: To Tap Water From The Mountain To BT City & Surrounding Areas – Malawi Voice: "Citizens for the Protection of Mulanje Mountain (CPM) has maintained that they will still demand Blantyre Water Board (BWB) to fulfil their demands among others, to plant trees in a designated area where the water intake point is located or else they will block the implementation of the much awaited $23.5 million (about K18 billion) water supply project to tap water from Mulanje Mountain to Blantyre City and surrounding areas."



'via Blog this'

Electricity supply improving in Malawi | Malawi 24 - All the latest Malawi news

Electricity supply improving in Malawi | Malawi 24 - All the latest Malawi news: "Malawi is slowly getting past the dark age as electricity supply is improving with the increase in generation capacity.

The year 2017 has been a year to forget with almost every area in Malawi having a taste of 24hour blackouts.


The energy capacity has now risen to 200 megawatts from 147 megawatts.

This is alluded to the drop of water levels in Lake Malawi which affects generation of electricity at hydroelectric power stations in the country."



'via Blog this'

Thursday, December 14, 2017

Vale Moçambique withdraws from the Sena Railroad and the port of Beira to export coal | Hellenic Shipping News Worldwide

Vale Moçambique withdraws from the Sena Railroad and the port of Beira to export coal | Hellenic Shipping News Worldwide: "Vale Moçambique withdraws from the Sena Railroad and the port of Beira to export coal
in Port News 05/12/2017


Vale Moçambique, a subsidiary of Brazilian mining group Vale, will stop using the Sena Railroad and the port of Beira for its coal exports, which will be focused on the Nacala Logistics Corridor (CLN) and its deep-water port, said the chairman of the company.

Márcio Godoy told daily newspaper Noticias, on the sidelines of the ceremony to sign contracts for financing the CLN, that the company intends to increase coal exports from 12 million tons this year to 17 million or 18 million tons in 2018 coal, “a quantity that can easily be accommodated in the CLN.”"



'via Blog this'

Maize export ban costs Malawi k69bn - The Nation Online

Maize export ban costs Malawi k69bn - The Nation Online:



Maize export ban costs Malawi k69bn

Tinenenji Chalanda @ December 14, 2017 o Comments

Malawi has lost about K69 billion in potential export revenue due to the maize export ban

imposed after the 2016/17 harvesting period, a study by the International Food Policy Research

Institute (Ifpri) has estimated.

Findings of the study, prepared at the request of Britain's Department for International

Development (DfID) and the United States Agency for International Development (USaid)

estimate that local traders could have earned between K39 and K69 billion in gross revenues if

they were allowed to export to Kigali in Rwanda and between K29 and K54 billion for exports to

Dar es Salaam in Tanzania in August or September this year.







'via Blog this'

Wednesday, December 13, 2017

Malawi Risks Losing US Energy Funding

Malawi Risks Losing US Energy Funding: "The United States of America has warned of pulling out the Millennium Challenge Compact should Malawi fail to meet the required standards in fighting corruption in the power generation sector.

US Ambassador to Malawi Virginia Palmer told Zodiak Online her government is monitoring trends in Malawi especially in programs where American citizens’ taxes are invested for the benefit of Malawi.

Corruption, especially in procurement in energy sector, would take away US aid, she warned, Americans would love to see their tax funds help improve lives."



'via Blog this'

Africa richest man Dangote interested to invest fertiliser plant in Malawi, says new Nigeria envoy - The Maravi Post

Africa richest man Dangote interested to invest fertiliser plant in Malawi, says new Nigeria envoy - The Maravi Post: "Africa’s richest man, Aliko Dangote is interested in investing in the agricultural sector by establishing a fertilizer manufacturing company in Malawi, Nigerian High Commissioner Designate, retired Brigadier General Stanley Diriyai, has revealed.

Diriyai disclosed Dangote’s interest on Tuesday after presenting his letters of credence to Malawi’s president Professor Peter Mutharika at the New State House in Lilongwe."



'via Blog this'

Tuesday, December 12, 2017

Mkango Resources gets green light from TSXV for Talaxis transaction

Mkango Resources gets green light from TSXV for Talaxis transaction: "Mkango Resources gets green light from TSXV
Mkango Resources has announced the conditional acceptance of the Talaxis transaction by the TSX Venture Exchange is subject only to shareholder approval.
Pursuant to the agreement between Mkango Resources and Talaxis:
Talaxis will invest £12 million in three tranches to fully fund a feasibility study in Songwe for a 49% interest in the project, in addition to £2 million in two tranches in return for a 49% interest in a new venture (Newco) to be established by Mkango Resources focused on neodymium alloy powders, magnet and other technologies"



'via Blog this'

uranium spot price today - Google Search

uranium spot price today - Google Search: "TradeTech – Uranium Prices & Analysis since 1968. Media - In the Market.
Update for the public provided three days after publication. November 24, 2017 - TradeTech's Weekly U3O8 Spot Price Indicator is $23.60 per pound U3O8.
Nov 24 - $23.60 per pound U3O8 - TradeTech – Uranium Prices ...
www.uranium.info/in_the_market.php"

Related image



'via Blog this'

Saturday, December 9, 2017

Small office space demand high—Report - The Nation Online

Small office space demand high—Report - The Nation Online:





Small office space demand high—

Report

Orama Chinamulungu @ December 8, 2017 o Comments

Malawi's rental market has seen a rising demand for small office space while there has been a

decrease in demand for larger offices, a property management firm has said.

In its 2017 Africa Report, Knight Frank has noted a general move towards modular office space

that allows occupiers to downsize or increase space as the need arises.

'via Blog this'

Small office space demand high—Report - The Nation Online

Small office space demand high—Report - The Nation Online:





Small office space demand high—

Report

Orama Chinamulungu @ December 8, 2017 o Comments

Malawi's rental market has seen a rising demand for small office space while there has been a

decrease in demand for larger offices, a property management firm has said.

In its 2017 Africa Report, Knight Frank has noted a general move towards modular office space

that allows occupiers to downsize or increase space as the need arises.

'via Blog this'

Small office space demand high—Report - The Nation Online

Small office space demand high—Report - The Nation Online:





Small office space demand high—

Report

Orama Chinamulungu @ December 8, 2017 o Comments

Malawi's rental market has seen a rising demand for small office space while there has been a

decrease in demand for larger offices, a property management firm has said.

In its 2017 Africa Report, Knight Frank has noted a general move towards modular office space

that allows occupiers to downsize or increase space as the need arises.

'via Blog this'

Friday, December 8, 2017

Carlsberg Malawi re-brands to Castel | Malawi Nyasa Times - Malawi breaking news in Malawi

Carlsberg Malawi re-brands to Castel | Malawi Nyasa Times - Malawi breaking news in Malawi: "company, took majority shares in the Dutch franchise two years ago, however, the re-branding process has taken long.

The takeover means Carlsberg Malawi Brewery Limited will now be called Castel Malawi Brewery Limited."



'via Blog this'

Malawi suffers blackouts as drought exposes 98% reliance on hydro power | World news | The Guardian

Malawi suffers blackouts as drought exposes 98% reliance on hydro power | World news | The Guardian: "to 25 hours. Photograph: Guido Dingemans/Alamy Stock Photo
Agence France-Presse

Friday 8 December 2017 02.47 GMT

View more sharing options
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Large parts of Malawi have been plunged into darkness as water levels at the country’s main hydro power plant fell to critical levels due to a severe drought, according to its electricity company."



'via Blog this'

Kazakh supply shock to jolt uranium price | MINING.com

Kazakh supply shock to jolt uranium price | MINING.com: "The announcement made by uranium giant Cameco a month ago that it’s suspending operations at its flagship McArthur River mine in northern Saskatchewan, Canada did little to move to languishing uranium price. Last week the nuclear fuel was pegged at $23 a pound, a level it has hovered around for long stretches of 2017.

This type of supply shock will spur strength in the spot U3O8 price as a significant amount of expected production for 2018-20 is removed
On Monday, the world largest producer of uranium, surprised the beleaguered market with a larger than expected cut to production of its own."



'via Blog this'

Creditor leaves Paladin renewal in doubt | The West Australian

Creditor leaves Paladin renewal in doubt | The West Australian: "he French creditor that forced uranium miner Paladin Energy into administration is now threatening to torpedo its recapitalisation.
Creditors of the collapsed miner yesterday voted in favour of a restructure proposal put forward by unsecured bondholders that would have the company continue operating as a going concern and be reinstated to the Australian Securities Exchange."



'via Blog this'

Sunday, December 3, 2017

Malawi’s forex reserves recover from slight decline - The Nation Online

Malawi’s forex reserves recover from slight decline - The Nation Online:



Malawi's gross foreign exchange reserves a combination of official and private sector reserves

inched upwards to 3.68 months of import last week recovering from the prior week's slight

fall.

According to Reserve Bank of Malawi's (RBM) daily financial market report for November 29 the

gross official reserves rose to $770.06 million (about K5.6 billion), equivalent to 3.68 months of

import cover on November 27.

'via Blog this'

Wednesday, November 29, 2017

Malawi: Geoscience Graduates to Boost the Mining Sector in Malawi - allAfrica.com

Malawi: Geoscience Graduates to Boost the Mining Sector in Malawi - allAfrica.com: "Blantyre — Due to the huge mineral potential that Malawi has, public university colleges such as the Polytechnic, Chancellor College and Malawi University of Science and Technology (MUST) have introduced more geoscience courses in order to produce locally trained geo personnel.

Head of Mining Engineering Department at the Polytechnic, Dr Witness Kuotcha, told Malawi News Agency (MANA) the college has introduced a Bachelor of Geological Engineering, Bachelor of Mining Engineering and Bachelor of Metallurgy and Mineral Processing Engineering."



'via Blog this'

Mkango granted Chimimbe prospecting licence

Mkango granted Chimimbe prospecting licence: "Mkango granted Chimimbe prospecting licence

29TH  Aim- and TSX-V-listed Mkango Resources has been granted an exclusive prospecting licence covering the 98.48 km Chimimbe Hill nickel/cobalt deposit in central Malawi."



'via Blog this'

Tuesday, November 28, 2017

Noble Group Foe Iceberg Fires a Fresh Salvo - Bloomberg

Noble Group Foe Iceberg Fires a Fresh Salvo - Bloomberg: "Noble Group Ltd.’s long-time foe Iceberg Research made a fresh attack on the embattled commodity trader on Tuesday, saying that its balance sheet may still mask problems and that the company’s bid to restructure its obligations won’t lead to a turnaround.

“The problem with this company is not only that assets have been wildly overvalued. Some liabilities have probably been drastically undervalued,” Iceberg said in an open letter to the creditors of the Hong Kong-based company. “Don’t believe that Noble’s balance sheet is clean after they recognized billions of impairments.”"



'via Blog this'

Iceberg claims Noble's balance sheet still can't be trusted, Companies & Markets - THE BUSINESS TIMES

Iceberg claims Noble's balance sheet still can't be trusted, Companies & Markets - THE BUSINESS TIMES: "ICEBERG Research issued another fresh attack on Noble Group on Tuesday, claiming that the commodity trader's balance sheet numbers are still unreliable, even after the group recognised billions in impairment."



'via Blog this'

Saturday, November 25, 2017

Treasury bill yields drop to 15.3% - The Nation Online

Treasury bill yields drop to 15.3% - The Nation Online:



Treasury bill yields drop to 15.3% 

Grace Mkwapata @ November 24, 2017 o Comments 
Treasury bill (T bills) rates one of the determinants of commercial bank interest rates fell on all tenors in 
September compared to the previous month, according to the Reserve Bank of Malawi (RBM). 


'via Blog this'

Mera approves 25% electricity increase | The Times Group

Mera approves 25% electricity increase | The Times Group:





The Malawi Regulatory Authority (Mera) has been forced to approve a 25 percent increase in the

price of electricity days after the regulatory authority rejected Escom's Power Purchase Agreement

in which the tariff increase was among several proposes.

This means that when the stand by generators arrive in the country and are installed next month

as promised by President Peter Mutharika, Malawians will start paying K73.23 per kWh up from

about K58.80 per kWh.



'via Blog this'

Tuesday, November 21, 2017

$100million Grand Business Park Project Kicks Off In Lilongwe… To Comprise Shopping Mall, High Class offices, Villas, Five Star Hotel & Conference Centre – Malawi Voice

$100million Grand Business Park Project Kicks Off In Lilongwe… To Comprise Shopping Mall, High Class offices, Villas, Five Star Hotel & Conference Centre – Malawi Voice: "$100million Grand Business Park Project Kicks Off In Lilongwe… To Comprise Shopping Mall, High Class offices, Villas, Five Star Hotel & Conference Centre
By Deliby Chimbalu on November 18, 201726 Comments
Press Release
The Lilongwe Grand Business Park Project is expected to kick off next week in the capital Lilongwe. According to Malawi Investment and Trade Centre (MITC), the project is one of the outcomes of the first ever Malawi Investment Forum which the Government of Malawi Hosted in 2015 and it is located in Area 46 along the by-pass road."



'via Blog this'

Sovereign closer to PFS at Malingunde - 9Finance

Sovereign closer to PFS at Malingunde - 9Finance: "Sovereign closer to PFS at Malingunde
FShareTTweetBMail
Sovereign Metals Limited (ASX: SVM) has concluded the aircore drilling campaign at its Malingunde saprolite-hosted graphite project in Malawi.

The drilling campaign, designed to rapidly advance the low-cost project towards a pre-feasibility study, covered 5,000 meters in total. An aircore rig used in the drilling has now been moved to test additional saprolite-hosted graphite targets within relative proximity to the project site."



'via Blog this'

Thursday, November 16, 2017

Funding for Songwe Hill rare earths project in Malawi secured

Funding for Songwe Hill rare earths project in Malawi secured: "Funding for rare earths project in Malawi secured

TSXV-listed Mkango Resources has entered an agreement with Talaxis, a wholly-owned subsidiary of Noble Group, to fund development of the rare earths project in Malawi.

Talaxis has agreed to fully fund a bankable feasibility study (BFS) for the project  in Malawi for a return of 49% interest in it."

https://www.miningreview.com/news/funding-songwe-hill-rare-earths-project-malawi-secured/

'via Blog this'

Funding for Songwe Hill rare earths project in Malawi secured

Funding for Songwe Hill rare earths project in Malawi secured: "Funding for rare earths project in Malawi secured

TSXV-listed Mkango Resources has entered an agreement with Talaxis, a wholly-owned subsidiary of Noble Group, to fund development of the rare earths project in Malawi.

Talaxis has agreed to fully fund a bankable feasibility study (BFS) for the project  in Malawi for a return of 49% interest in it."



'via Blog this'

Inflation rate drops to 8.3% - The Nation Online

Inflation rate drops to 8.3% - The Nation Online:




a Chikondi Chiyembekeza

O November 16, 2017


A Malawi's year-on-year inflation rate for October 2017 has

dropped by 0.1 percentage points to 8.3 percent from the previous

month's 8.4 percent, figures from the National Statistical Office

(NSO) released yesterday show.


'via Blog this'

Tuesday, November 14, 2017

Hamra Holdings Embarks On Mapping For Oil And Gas Exploration

Hamra Holdings Embarks On Mapping For Oil And Gas Exploration: "The Malawi government in collaboration with Hamra Holdings Limited is set to begin its geological and geo-physical mapping for oil and gas exploration, in Karonga District.

Hamra Holdings Limited is an oil exploration company and according to the Company’s consultant, Grain Malunga, the survey starts this month.

The findings, which may lead to offshore oil exploration, are expected to be revealed to the public by December this year"



'via Blog this'

Monday, November 13, 2017

Malawi News Agency Online - Construction of Mzuzu International Airport to start in January –Mutharika

Malawi News Agency Online - Construction of Mzuzu International Airport to start in January –Mutharika: "Mzuzu, November 12, 2017: President Arthur Peter Mutharika has assured people in northern region that his government is geared to start the construction of Mzuzu International Airport in January, 2018.

President Mutharika was speaking Saturday evening at Katoto Roundabout on his arrival in the region where he is expected to carry out a number of official duties.

Mutharika said it is the wish of his government that Mzuzu City should have a modern international airport, saying it will open up the northern region.

“I have directed the Minister of Transport and Public Works to make sure that the construction of Mzuzu modern international airport should start without any excuses by January next year,” he said."



'via Blog this'

Sovereign starts PFS at Malingunde graphite project | Finfeed.com

Sovereign starts PFS at Malingunde graphite project | Finfeed.com: "Sovereign Metals Limited (ASX:SVM) today announced it had commenced the Pre-feasibility Study for the low-cost Malingunde saprolite-hosted graphite project in Malawi.

The PFS is intended to build on the promising results that came from the recently completed Scoping Study. That study provided further evidence of the project’s potential to become a very low cost operating mine, producing an annual graphite concentrate production of ~44,000 tonnes over an initial 17 years."



'via Blog this'

Mutharika tells North Malawi more developments in the offing: Mzuzu International Airport project starts January 2018 - The Maravi Post

Mutharika tells North Malawi more developments in the offing: Mzuzu International Airport project starts January 2018 - The Maravi Post: "President Arthur Peter Mutharika has assured people in northern region that his government is geared to start the construction of Mzuzu International Airport in January, 2018.

President Mutharika was speaking Saturday evening at Katoto Roundabout on his arrival in the region where he is expected to carry out a number of official duties."



'via Blog this'

Friday, November 10, 2017

Egenco in K5bn Nkula dam dredging project - The Nation Online

Egenco in K5bn Nkula dam dredging project - The Nation Online:



Faced with pressure to increase power generation, Electricity Generation Company (Egenco) has embarked on a 

K5 billion project to dredge sediment load lying on the bed of Shire River at Nkula Falls to increase water storage. 

The project comes at a time Malawi is struggling to produce adequate electricity due to low water levels in Shire 

River which is experiencing acute environmental degradation that has, among others, led to debris from 

upstream rivers flowing and clogging the river whose water is used for power generation. 

'via Blog this'

Wednesday, November 8, 2017

Malawi News Agency Online - Inadequate funding in research stalling legume sector growth

Malawi News Agency Online - Inadequate funding in research stalling legume sector growth: "Lilongwe, April 13, 2017: Lack of huge investment in research and innovations towards the legumes subsector is stalling the growth of the industry in the country, agricultural experts say.

The legume sub sector in Malawi has been billed as an alternative sector to the tobacco industry towards the economic growth of the nation.

But low funding to academic and other institutions towards research and development is said to derail progress needed for meaningful and valuable changes in the sector."



'via Blog this'

‘Malawi meeting policy indicators’ | The Times Group

‘Malawi meeting policy indicators’ | The Times Group: "‘Malawi meeting policy indicators’
Posted By: Taonga Sabolaon: November 07, 2017In: BusinessNo Comments
A latest Millennium Challenge Corporation (MCC) scorecard, which analyses individual countries’ policy indicators, has shown that Malawi is meeting the minimum requirements, raising hopes that the country may be awarded a second compact once the current $350.7 million energy compact comes to an end next year.

The report shows Malawi passed 20 indicators overall, including those on control of corruption and democratic rights."



'via Blog this'

Economic think tank forecasts growth at 4.8% | The Times Group

Economic think tank forecasts growth at 4.8% | The Times Group: "Economic think tank forecasts growth at 4.8%
Posted By: William Kumwembeon: November 08, 2017In: BusinessNo Comments
The Economic Intelligence Unit (EIU) has forecast real Gross Domestic Product (GDP) to grow by an average of 4.8 percent annually for the next five years.

In its third quarter country report for Malawi released recently, the EIU predicts that the economy will register a GDP growth of 4.7 percent in 2018, 4.9 in 2019 and 5.0 percent in 2020 before it slows down to 4.7 percent"



'via Blog this'

Sunday, November 5, 2017

JTI Growers Benefit From Successful Tobacco Season…Increased Profits Due To High Quality Leaf And Better Yield – Malawi Voice

JTI Growers Benefit From Successful Tobacco Season…Increased Profits Due To High Quality Leaf And Better Yield – Malawi Voice: "One of the country’s major tobacco buyers, the 2016/2017 season was the most successful year since entering the market in 2009, with a recorded contract market share of 31 percent against an average of 17 to 18 percent in previous years"



'via Blog this'

Saturday, November 4, 2017

Trade balance to narrow by Dec-IMF - The Nation Online

Trade balance to narrow by Dec-IMF - The Nation Online:









Trade balance to narrow by Dec-IMF

a Grace Phiri O November 4, 2017 o Comments

The International Monetary Fund (IMF) has projected the country's trade balance—the difference between a

country's imports and its exports for a given time period—to narrow to 7.8 percent of the gross domestic

product (GDP) this year.

As compared to the previous year, there is a decline of 3.1 percentage points from 10.9 percent on account of

reduced exports.


'via Blog this'

Friday, November 3, 2017

Government reaffirms commitment to sustained power generation - The Maravi Post

Government reaffirms commitment to sustained power generation - The Maravi Post: "Minister of Natural Resources, Energy and Mining, Aggrey Masi has reaffirmed government’s commitment to ensure sustained power generation and supply in the country to address the perennial problem of electricity outages.

Masi was speaking on Saturday during a visit to the construction site of 400/132kv Electricity Supply Corporation of Malawi’s (ESCOM) Phombeya sub – station and 400kv overhead line sites in Balaka respectively."



'via Blog this'

Malawi: Blackout Is a Setback to Internet Connectivity - allAfrica.com

Malawi: Blackout Is a Setback to Internet Connectivity - allAfrica.com: "Lilongwe — Persistent power blackout the country is experiencing is affecting effective delivery of services by internet service providers.

Chairperson of Media and Communications Parliamentary Committee, Sam Kawale made the observation Wednesday when members of his committee toured some establishment of Internet connectivity sites in Lilongwe."



'via Blog this'

Simbi to build Malawi’s tallest ‘twin towers’ in Lilongwe | Malawi Nyasa Times - Malawi breaking news in Malawi

Simbi to build Malawi’s tallest ‘twin towers’ in Lilongwe | Malawi Nyasa Times - Malawi breaking news in Malawi: "South Africa-based Malawian billionaire businessperson Simbi Phiri, who was awarded a multimillion kwacha water project, reportedly plans to construct  Malawi’s tallest twin towers in the capital Lilongwe."



'via Blog this'

Talaxis buys stake in Mkango Resources | The Times Group

Talaxis buys stake in Mkango Resources | The Times Group:





Talaxis Limited, a subsidiary of commodities trader Noble Group, has acquired 14.5 percent

shareholding in Mkango Resources Limited.

Mkango is a Canadian dual TSX-V and Alternative Investment Market (AIM) listed mineral

exploration company exploring rare earths at Songwe Hill in Phalombe and Thambani in Neno.

The deal, which has seen Talaxis becoming a major shareholder in the company, is worth

€500,000. The share price is at 3.5 pence.


'via Blog this'

The Fruits Of APM’s Reforms: World Bank Ranks Malawi Third In Africa In Doing Business – Malawi Voice

The Fruits Of APM’s Reforms: World Bank Ranks Malawi Third In Africa In Doing Business – Malawi Voice: "Malawi has been ranked 110th on the ease of doing business index, up from 133, World Bank Doing Business 2018 Report has revealed as  Minister of Agriculture, Irrigation and Water Development, Joseph Mwanamvekha has assured  government will sustain the gains and push for more reforms."



'via Blog this'

Thursday, November 2, 2017

Malawi to have new low cost airline | Malawi 24 - All the latest Malawi news

Malawi to have new low cost airline | Malawi 24 - All the latest Malawi news: "A low cost airline owned by Malawians is set to start its operations in Malawi.

Lakestar Express Limited which will make its first flight in January will start with domestic routes before introducing flights to Lusaka [Zambia], Johannesburg [South Africa], Harare [Zimbabwe], Nairobi [Kenya] and eastern side of Mozambique."



'via Blog this'

Wednesday, November 1, 2017

Goodall upbeat on growth despite power outages - The Nation Online

Goodall upbeat on growth despite power outages - The Nation Online:







Minister of Finance, Economic Planning and Development

Goodall Gondwe is upbeat about the country registering an

economic growth of over five percent despite acknowledging the

possible threat to the same created by extended power outages.

In an interview yesterday, Gondwe said while nobody is denying

the fact that the power outages are crippling production,

government is still banking of agriculture—which did well this

year—as the game changer.


'via Blog this'

Tuesday, October 31, 2017

Malawi Lifts Ban on Maize Export

National News - The Nation Online:









Mutharika lifts maize export ban OCTOBER 31, 2017

President Peter Mutharika has ordered the immediate lifting of

the maize export ban that government effected early this year to

avoid creating a shortage...





'via Blog this'

Sadc seeks to harmonise transport charges - The Nation Online

Sadc seeks to harmonise transport charges - The Nation Online:





a Jacob Nankhonya

O October 31, 2017


The Southern African Development Community (Sadc)

committee for ministers responsible for Transport and

Meteorology says it is geared to start the process of

harmonising charges transporters pay when passing through

countries in the region.





'via Blog this'

Second Malawi compact fate in December, says MCC - The Nation Online



Second Malawi compact fate in December, says MCC - The Nation Online:

The Malawi government is expected to know in December this

year whether it qualifies for the second compact after the expiry

of $350.7 million (K256 billion) five-year energy compact in

September 2018.

Millennium Challenge Corporation (MCC), a United States

government agency, provided the money for the energy

compact, which is a single sector programme, to support the

Malawi government to increase the capacity and stability of the

national electricity grid and the efficiency and sustainability of

hydropower generation.





'via Blog this'

$2.6bn Cape Maclear investment project to start 2018 – Malopa   | Malawi Nyasa Times - Malawi breaking news in Malawi

$2.6bn Cape Maclear investment project to start 2018 – Malopa   | Malawi Nyasa Times - Malawi breaking news in Malawi:



$2.6bn Cape Maclear investment project to start 2018 — Malopa
October 30, 2017 The ambitious USS2.6 billion (about Kl.9 trillion) Cape Maclear Investment Project is set to commence in lakeshore district
of Mangochi in 2018 which if done may change the face of the area, according to project promoter Bright Malopa.
'via Blog this'

Malawi registers modest export growth - The Nation Online

Malawi registers modest export growth - The Nation Online:




Grace Phiri

October 28, 2017


Malawi merchandise export trade of agricultural products has

registered a modest growth of 6.5 percent between 2005 to

2016, figures from the World Trade Organisation (WTO) have

shown.





'via Blog this'

Monday, October 30, 2017

Malawi inflation rate continues to drop | Malawi 24 - All the latest Malawi news

Malawi inflation rate continues to drop | Malawi 24 - All the latest Malawi news: "Malawi’s inflation rate continues Its downward trend, latest data shows.

According to Government of Malawi, the country’s inflation rate for September is at 8.4 percent which is among the lowest in the SADC Region as well as globally.


Malawi’s inflation rate going down.
“Breaking it down to specfic sectors, for urban areas, it is 8.2% while for rural areas it is at 8.9%."



'via Blog this'

Sunday, October 29, 2017

Roads, belts and corridors: what is happening along Africa’s eastern seaboard? - The Zimbabwean

Roads, belts and corridors: what is happening along Africa’s eastern seaboard? - The Zimbabwean: "The eastern seaboard of Africa from Kenya to Tanzania to Mozambique has become a major focus of attention. The ports – from Bagamoyo to Beira – are seen as the gateway to Africa, a place where great riches can be found. Such ports, and the road and rail links that connect them, are now being redeveloped at a frenzied pace. Much of this is about mineral export, but agriculture is part of the picture too, as a number of the new (or often revived) corridors are seen as ‘agricultural growth corridors’, a term on the lips of many ambitious planners and investors."



'via Blog this'

Saturday, October 28, 2017

Hamra Ltd brief Nkhata Bay communities on oil exploration in Lake Malawi | Malawi Nyasa Times - Malawi breaking news in Malawi

Hamra Ltd brief Nkhata Bay communities on oil exploration in Lake Malawi | Malawi Nyasa Times - Malawi breaking news in Malawi: "Hamra Ltd brief Nkhata Bay communities on oil exploration in Lake Malawi
October 27, 2017 Aliko Munde -Mana Be the first to comment
Hamra Holdings Limited consultant, Grain Malunga has disclosed that the Airborne Geophysical Survey, popularly known as Kauniwuni on Lake Malawi has established the presence of oil deposits on the lake in Nkhata Bay, Rumphi and Karonga districts."



'via Blog this'

Friday, October 27, 2017

Hamla Holdings To Conduct Oil Survey In Karonga

Hamla Holdings To Conduct Oil Survey In Karonga: "The Malawi government in collaboration with Hamla Holdings Limited an oil exploration company is set to commence the geological survey on the offshore sedimentary rocks for oil exploration in Karonga district.

According to the team leader of the exploration company, Grain Malunga, the survey will start this month and the findings are expected to be revealed to the mass by December this year.

Malunga said the survey will be done in a professional way such that Malawians will not be denied any information pertaining to the matter."



'via Blog this'

SacOil launches capacity building for Malawi oil and gas sector | Mining in Malawi

SacOil launches capacity building for Malawi oil and gas sector | Mining in Malawi: "SacOil launches capacity building for Malawi oil and gas sector

…SA firm drills local experts in hydrocarbon search processes

By Chiku Jere

JSE-listed SacOil Holdings has kick-started a Capacity Development Programme for local geoscientists which will see Malawian technocrats trained in upstream petroleum sector processes as part the fulfilment of a commitment the company made in its exclusive prospecting licence that was awarded by the Malawi Government on December 13, 2012."



'via Blog this'

Chinese firm applies for mining licence for Malawi’s Makanjira heavy sands – Mining & Trade Review | Mining in Malawi

Chinese firm applies for mining licence for Malawi’s Makanjira heavy sands – Mining & Trade Review | Mining in Malawi: "Chinese firm applies for mining licence for Makanjira heavy sands

By Our Reporter

A Chinese firm, Nu Kin, has applied for a licence to start mining heavy mineral sands at Makanjira in Mangochi.

Director for the Department of Mines, Atileni Wona, told Mining & Trade Review that the firm has submitted the application after completing a feasibility study for the project, which also included an environmental impact assessment study."



'via Blog this'

Malawi’s Mangochi gold rush, government clamps down on miners | Mining in Malawi

Malawi’s Mangochi gold rush, government clamps down on miners | Mining in Malawi: "By Marcel Chimwala, has become a centre

Mangochi, which is well known for fishing and lake tourism activities, has become a centre of attraction to enterprising locals and foreigners from countries such as Mozambique and Tanzania.

This time not for fishing and tourism activities but it is gold mining that has taken centre stage along Onga River in Makanjira area."



'via Blog this'

$200 million for energy sector | The Times Group

$200 million for energy sector | The Times Group:


Finance Minister, Goodall Gondwe, has described his recent trip to the US, where he met officials
from the World Bank and the International Monetary Fund (IMF), as a success following a number
of deals he has struck with the institutions.
Top on the list are financial resources amounting to over $200 million that the World Bank has
pledged to give Malawi to boost the energy sector.
The resources are coming in the form of a 50 percent loan and 50 percent grant.
In an interview with Times Business, Gondwe, highlighted that the development partners have

committed to releasing the funds within the next six months.

He said that over $100 million dollars would be channelled towards the construction of

Mpatamanga Hydro-electric Power Station along the Shire River, over $70 million dollars would go

towards rolling out of solar energy projects whereas another $30 million would go towards an

interconnection project between Malawi and Mozambique.


'via Blog this'

Thursday, October 26, 2017

An Agenda to Transform Malawi’s Irrigated Agriculture: World Bank Approves $166 Million - The Maravi Post

An Agenda to Transform Malawi’s Irrigated Agriculture: World Bank Approves $166 Million - The Maravi Post:


WASHINGTON, October 18, 2017— The.World Bank has approved $166 million to.transform Malawi's agricultural productivity.through irrigation, lay the foundations for.commercialization, and improve management.of natural resources in the Shire Valley..


The financing, approved today by the World.Bank Board of Executive Directors is for the.first phase of the Shire Valley Transformation.THE WORLD BANK.IBRD • IDA.The world bank.Program (SVTP-I). The funding consists of a $160 million credit from the International.Development Association* , and a $5.59 million grant from the Global Environment Facility.Trust Fund.
W The.World Bank has
approved $166 million to.transform Malawi's agricultur this'

Pension funds at K450bn | The Times Group

Pension funds at K450bn | The Times Group:


As Challenges continue to face implementation of the mandatory 2011 Pensions Act, the Reserve

Bank of Malawi (RBM) has expressed satisfaction with the growth that has been registered since

the new act was introduced six years ago. RBM Deputy Governor, Grant Kabango, said, in that time, pension funds have grown from K59

billion to K450 billion as of June 2017. Kabango further said the number of employees on pension has doubled from 102,505 to 259,743.

x


'via Blog this'

Mkango Closes £500,000 Placing With Talaxis | Geology for Investors

Mkango Closes £500,000 Placing With Talaxis | Geology for Investors: "Home / Mining Company News Releases (Unreviewed) / Mkango Closes £500,000 Placing With Talaxis
Mkango Closes £500,000 S
Mkango Resources  announce that it has received conditional regulatory approval for the previously announced placing (the “Placing”) whereby Talaxis Ltd (“Talaxis”), a wholly owned subsidiary of Noble Group (“Noble”), has invested £500,000 (C$833,333) at 3.5 pence (C$0.058) per equity unit to acquire a 14.5% interest in Mkango."



'via Blog this'

Wednesday, October 25, 2017

Sovereign Metals Limited secures $6.5M to expedite graphite project in Malawi

Sovereign Metals Limited secures $6.5M to expedite graphite project in Malawi: "Proceeds from the placement will be used to expedite development of the company’s Malingunde Flake graphite project in Malawi, including all technical works and feasibility studies.


Earlier in August, Sovereign had revealed that its Malingunde graphite concentrates have a strong potential to meet the specifications of major graphite end-markets, including lithium-ion batteries.

In 2017 Sovereign delivered the world’s largest reported soft saprolite-hosted graphite resource and scoping study."



'via Blog this'

Sunday, October 22, 2017

Lakestar Budget Airline To Start Operating Next Year | BizMalawi Online– Directory and search engine for Malawi

Lakestar Budget Airline To Start Operating Next Year | BizMalawi Online– Directory and search engine for Malawi: "A Malawian owned budget airline, Lakestar Express Limited is expected to start operating in the country by February next year.

The budget airline comes in Two years after FastJet winged out the Malawi market.

According to its chief executive officer, Allain Chidzanja, they have invested $7 million (about K5.1 billion) to start operating domestic flights.

Chidzanja said they expect to extend services to other parts of the region within 10 months of operation.

“In Malawi, we want to make sure that passengers can fly between Blantyre and Lilongwe and we want to revive the Northern route in Mzuzu, Karonga and Likoma as it is becoming a hot spot and this will help us revive tourism as well,” explained Chidzanja."



'via Blog this'

Monday, October 16, 2017

Roads, belts and corridors: what is happening along Africa’s eastern seaboard? - The Zimbabwean

Roads, belts and corridors: what is happening along Africa’s eastern seaboard? - The Zimbabwean: "The eastern seaboard of Africa from Kenya to Tanzania to Mozambique has become a major focus of attention. The ports – from Bagamoyo to Beira – are seen as the gateway to Africa, a place where great riches can be found. Such ports, and the road and rail links that connect them, are now being redeveloped at a frenzied pace. Much of this is about mineral export, but agriculture is part of the picture too, as a number of the new (or often revived) corridors are seen as ‘agricultural growth corridors’, a term on the lips of many ambitious planners and investors."



'via Blog this'

Sovereign Metals forges transport deal for graphite project | Finfeed.com

Sovereign Metals forges transport deal for graphite project | Finfeed.com: "Emerging African graphite producer, Sovereign Metals (ASX:SVM) has negotiated an infrastructure term sheet agreement with Central East African Railways (CEAR), an infrastructure and logistics consortium in which Vale SA and Mitsui & Co. Ltd have significant ownership, with both parties also involved in the operational management of the transport facilities.

The agreement covers the provision of rail freight, port access and port handling services by CEAR to SVM for graphite concentrates produced from the Malingunde Project, subject to a binding agreement expected to be formalised 30 June, 2018."



'via Blog this'

Malawi's inflation slows to 8.4 percent in September |

Malawi's inflation slows to 8.4 percent in September |: "Off The Wire
Malawi's inflation slows to 8.4 percent in September
Reuters
Saturday October 14, 2017 12:06  LILONGWE, Oct 14 (Reuters) - Malawi's consumer inflation slowed to 8.4 percent year-on-year in September from 9.3 percent in August, official data from the National Statistical Office showed on Saturday.

The statistics office said a key contributor to slower price growth was a decline in both food and non-food inflation.


(Reporting by Mabvuto Banda; Editing by Richard Balmforth)"



'via Blog this'

Saturday, October 14, 2017

Foreign reserves at 3.48 months - The Nation Online

Foreign reserves at 3.48 months - The Nation Online:

Malawi's gross foreign exchange reserves—a combination of official and private sector slightly fell to 3-48 months of import at the start of this week, Reserve Bank of reserves— Malawi (RBM) figures have shown. RBM daily financial market report for October 11 indicates that the gross official reserves  declined to $726.80 million, equivalent to 3-48 months of import cover on October 9 from

$750.23 million which is equivalent to 3-59 months of imports.


'via Blog this'

Thursday, October 5, 2017

Escom, Egenco fight delays ‘cost-reflective’ tariff - The Nation Online



Escom, Egenco fight delays ‘cost-reflective’ tariff - The Nation Online:

Escom, Egenco fight delays 'cost-reflective' tariff

Suzgo Khunga @ October 5, 2017 o Comments

Differences between Electricity Generation Company (Egenco) and Electricity Supply Corporation of Malawi  Escom) over cost-reflective tariff have delayed the roll out of the scheme with barely a year to the end of the  $350 million (K242 billion) Millennium Challenge Corporation (MCC) energy compact. United States of America (USA) Ambassador Virginia Palmer, whose government is financing the compact through MCC, has since expressed concern over the delayed resolution of the issue.





'via Blog this'

Reserve Bank of Malawi miantains policy rate at 18 percent - The Maravi Post

Reserve Bank of Malawi miantains policy rate at 18 percent - The Maravi Post: "LILONGWE-(MaraviPost)-The Reserve Bank of Malawi (RBM) has maintained policy rate at 18 percent, a decision made at the Monetary Policy Committee (MPC) and the Liquidity Reserve Requirement at 7.5 per cent in trying to keep with the latest developments in the economy and the need to keep the inflation firmly on the downward path.
The announcement has come through a statement made by MPC after it conducted a review meeting for global and domestic economic developments and it has been signed by Chairman of the committee, Dr Dalitso Kabambe, who is also Reserve Bank of Malawi Governor."



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Sovereign signs rail MoU in Malawi

Sovereign signs rail MoU in Malawi: "PERTH (miningweekly.com) – Junior Sovereign Metals has signed a memorandum of agreement (MoU) with an infrastructure consortium led by majors Vale and Mitsui, for rail freight, port access and port handling services for graphite product from the Malingunde project, in Malawi.
Sovereign said on Tuesday that the MoU covered the provision of services for up to 100 000 t/y of concentrates over a period of 20 years, with the consortium known as Central East African Railways (CEAR) to supply and maintain all infrastructure, equipment and personnel required to provide the service."



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Tuesday, October 3, 2017

Nocma to start importing fuel via Nacala rail line - The Nation Online

Nocma to start importing fuel via Nacala rail line - The Nation Online:



Nocma to start importing fuel via 

Nacala rail line 

Llyod chitsulo O September 26, 2017 o Comments State-owned National Oil Company of Malawi (Nocma) has announced plans to start 

transporting fuel through Nacala Railway Corridor to supplement road transportation from 

Mozambique and Tanzania ports. 


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Kam’mwamba project to start Nov - The Nation Online



Kam’mwamba project to start Nov - The Nation Online:

Kam'mwamba project to start Nov

Martha Chirambo O September 29, 2017 o Comments  Government expects the Kam'mwamba Coal -Fired Power Plant Project to start this November  after signing 10 agreements with China last week.  According to Minister of Finance, and Economic Planning and Development Goodall Gondwe  government has agreed with their counterparts in China to have major shareholding of 85  percent while China Gezhouba Group will have 15 percent.


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Khato Holdings – growing Africa on time and within budget

Khato Holdings – growing Africa on time and within budget: "With plans to expand further in Africa, South African black emerging design and construction company Khato Civils expects that, in three to five years, 20% of its workload will be attributable to South Africa, while 80% will be based across the rest of the continent."



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Mkango raises £500 000

Mkango raises £500 000: "OHANNESBURG (miningweekly.com) – Dual-listed Mkango Resources has started Phase 2 of its research and development programme with Metalysis and has raised £500 000 in a share placing to help fund the programme."



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Malawi News Agency Online - Inflation downturn excites private sector

Malawi News Agency Online - Inflation downturn excites private sector: "
Mzuzu, October 02, 2017: The private sector, through its mouthpiece, the Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has commended the downturn of inflation by 9.3 percent as a significant step in boosting the country’s economy."



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Wednesday, September 27, 2017

Sovereign Metals receives backing from Malawi government

Sovereign Metals receives backing from Malawi government: "Sovereign Metals receives backing from Malawi government

ASX-listed Sovereign Metals has garnered strong support from the Malawi government to progress the Malingunde saprolite-hosted graphite project to production.

The Malawi government has offered its support and resources to Sovereign Metals in order to progress the Malingunde project to development."



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Tuesday, September 26, 2017

Nocma to start importing fuel via Nacala rail line - The Nation Online

Nocma to start importing fuel via Nacala rail line - The Nation Online:



Nocma to start importing fuel via

Nacala rail line

Llyod chitsulo O September 26, 2017 o Comments

State-owned National Oil Company of Malawi (Nocma) has announced plans to start

transporting fuel through Nacala Railway Corridor to supplement road transportation from

Mozambique and Tanzania ports.

Minister of Natural Resources, Energy and Mining Aggrey Massi said this last week when he

toured one of the strategic fuel reserves at Matindi on the outskirts of Blantyre.





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Sunday, September 24, 2017

The Times Group | Malawi's Premier Online News

The Times Group | Malawi's Premier Online News:



rhe first phase of the $234 million Shire Valley irrigation programme is expected to roll out in

January 2018. The programme will be funded by

he World Bank and the African Development Bank

AfDB) and is expected to run between 2018 and


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Thursday, September 21, 2017

Uranium Prices Could Soar to $140 Per Lb

Uranium Prices Could Soar to $140 Per Lb: "Analysts unanimously expect the uranium market will go through another bull run, and this week a managing director at Bannerman Resources said uranium could climb past $140 per lb in this upcoming bull run.

According to Australian Mining, speaking at the Africa Downunder conference in Perth this week, Bannerman Resources managing director Brandon Munro said the current decade-low prices for uranium were unsustainable. “The uranium spot price is languishing at a decade low price of $US20 per pound. While all commodity markets are cyclical – and it is said that the best remedy for low prices is low prices – uranium has unique dynamics that point to an abrupt return to higher prices when its time comes.”"



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Wednesday, September 20, 2017

Malawi’s power project deadline remains intact - The Nation Online

Malawi’s power project deadline remains intact - The Nation Online:



New York, September 19, Mana: The Millennium Challenge Corporation (MCC) says it remains

optimistic in its set target of completing the compact program in Malawi's power sector by

September next year.

MCC is implementing a USS 350 million program in boosting the country's power sector by

paving way for business investment in the sector.


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Malawi Stock Exchange welcomes new entrant | The Times Group



Malawi Stock Exchange welcomes new entrant | The Times Group:

The Malawi Stock Exchange (MSE) on Monday registered a new entrant following the listing of

Mauritius registered FMB Capital Holdings (FMBCH).

The development has brought the number of listed companies on the local bourse to 14.

Over the past couple of weeks, FMB shareholders were invited to swap their shares in the bank in

exchange with shares in the Mauritius-based holding company.

FMBCH Chairman, Hitesh Anadkat, said Mauritius provides a better platform to raise capital than

Malawi.


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