Cear targets over 700,000 tonnes cargo | The Times Group

Cear targets over 700,000 tonnes cargo | The Times Group: Cear targets over 700,000 tonnes cargo Posted By: Vyalema Kalulumaon: January 27, 2017In: BusinessNo Comments Central East African Railways (Cear) has projected an increase in cargo volumes in 2017 by 14.9 percent translating to 734, 640 tonnes compared to last year’s 639, 211.

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

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

Estimated to cost US$400 million, funded by the governments of Mozambique and Japan, the works will increase the number of parks for containers and the installation of new equipment."



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Mozambique: Tete industrial investment zone on the cards, say analysts - African Business Magazine

Mozambique: Tete industrial investment zone on the cards, say analysts - African Business Magazine: "Rovubué Industrial Free Zone will be developed on the border of Chiúta and Moatize districts with mainly private sector funding, although the government may commit some money to infrastructure, such as power, water and road services. Some Maputo-based security analysts – who declined to be named – confirmed that the government is in talks with likely private sector investors in the IDZ but they are unlikely to put pen to paper until the final investment decision is taken on the project’s anchor tenant, a steel plant"



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Mkango Resources gets green light to collaborate with Noble Resources

Mkango Resources gets green light to collaborate with Noble Resources: Mkango Resources gets green light to collaborate with Noble Resources

Malawi-focused Mkango Resources has received regulatory approval to collaborate with Noble Resources International in the rare earths sector.

Mkango Resources has also received regulatory approval for the �450 000 share placing that it intends to undertake with existing shareholders and new institutional investors.

Malawi Revenue Authority beating targets | The Times Group

Malawi Revenue Authority beating targets | The Times Group: "Revenue collection is still continuing a positive trajectory with the Malawi Revenue Authority (MRA) beating its collection target for December 2016 by about K6.1 billion.

Cumulatively, MRA has been able to collect K377.08 billion in the first half of the 2016/17 fiscal year against a target of K339.15 billion. This translates to an excess of K37.93 billion.

MRA has attributed the good performance to strong performances in tax lines including, Pay as You Earn (Paye), Fringe Benefit Tax, Provisional Tax, Import Duty, VAT and Excise Duties."

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Escom operating at half capacity | The Times Group

Escom operating at half capacity | The Times Group: "Escom operating at half capacity
Posted By: Grace Thipaon: January 11, 2017In: BusinessNo Comments
The Electricity Supply Corporation of Malawi (Escom) is operating at less than half of its capacity only able to produce on average 150 Mega Watts (MW) of power from a total installed capacity of 351MW.

While acknowledging that the onset of the rainy season is good news to power generation, Escom says rainfall amounts the country has received so far are still not enough to bring major improvements to electricity generation capacity."

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Malawi Airlines adds new flights | The Times Group

Malawi Airlines adds new flights | The Times Group: "Malawi Airlines adds new flights
Posted By: Grace Thipaon: January 10, 2017In: BusinessNo Comments
Malawi Airlines has introduced new flights to Nairobi and Zanzibar which will see the airline flying into the two destinations four times a week.

With its daily flight into Johannesburg, it means passengers can now connect between Johannesburg and Nairobi four times a week on Malawi Airlines."

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Bank of Malawi projects 5.6% GDP growth in 2017 | The Times Group

Bank of Malawi projects 5.6% GDP growth in 2017 | The Times Group: "Bank of Malawi projects 5.6% GDP growth in 2017
Posted By: William Kumwembeon: January 04, 2017In: BusinessNo Comments
The Reserve Bank of Malawi (RBM) expects the economy to rebound in 2017 forecasting domestic economic activity to grow by 5.6 percent.

In 2016, RBM projected the economy to grow by 5.1 percent but later revised growth to 2.9 percent."

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