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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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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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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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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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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'Nacala Corridor to Boost Malawi Economy'

'Nacala Corridor to Boost Malawi Economy': "The management of the Nacala Railway line says it is confident that the Nacala Corridor will have great economic benefits for Malawi, and that is why they have invested a lot of resources in developing the project.

Chairperson of Nacala Corridor Companies Renato Torres said this in an interview after the inauguration of the Corridor on Friday in Zalewa.

Mr. Torres said the corridor presents a brighter future for Malawi economically, because it will offer the country the chance to export and import goods cheaper."



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NBS Bank K7bn bond to finance road construction - The Nation Online

NBS Bank K7bn bond to finance road construction - The Nation Online:

NBS Bank plc has issued a K7 billion Roads Bond Facility with the Roads Fund Administration 

(RFA) to finance the rehabilitation and construction of a road in Lilongwe. 

The bond—a debt investment in which an investor loans money to an entity has been issued 

by the Malawi Stock Exchange (MSE) listed bank in collaboration with its sister company, 

Nico Asset Managers. 

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Inflation hits single digit | The Times Group

Inflation hits single digit | The Times Group:

Malawi's headline inflation has hit single digit in August, falling by 0.9 percentage points from

 10.2  percent in July to 9.3 percent in August, the National Statistical Office (NSO) has said. 

This is the first time in 80 months that Malawi has recorded single digit inflation since December 
2011, when inflation was at 9.8 percent. This year's July inflation is 13.5 percentage points better than 

the 22.8 percent recorded in July 

last year. 

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Nkula A Power Plant To Start Functioning In July 2018…To Ease Power Blackouts Across Malawi – Malawi Voice

Nkula A Power Plant To Start Functioning In July 2018…To Ease Power Blackouts Across Malawi – Malawi Voice: "Nkula A Power Plant To Start Functioning In July 2018…To Ease Power Blackouts Across Malawi
By Malawi Voice Reporter on September 13, 201732 Comments

MCC DVP Jonathan Bloom touring the turbine floor at Nkula A Hydro power plant
Electricity Generation Company Malawi Limited (Egenco) says Nkula A power plant will start functioning in July 2018 following the overhaul rehabilitation and modernisation work that is underway at the power plant site.

Acting Chief Maintenance Engineer, Bennie Chisuse disclosed this Tuesday at Nkula Hydro Power Plant site during a media tour for journalists from northern region organised by Millennium Challenge Account (MCA)."



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graph.jpg (728×410)

graph.jpg (728×410):

The Reserve Bank of Malawi (RBM) has expressed confidence that the kwacha and the 

exchange rate will remain stable in the short to medium-term. 

RBM spokesperson Mbane Ngwira said this in the context of the disbursement on Friday of 

S84-3 million (K62 billion) by the World Bank in budget support. 

Besides this, the central bank has also enhanced its open market operations by mopping up 

excess liquidity on the market. 

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Malawi govt offers incetive regime for investors, 10-year tax holiday, duty free – Minister Mussa | Malawi Nyasa Times - Malawi breaking news in Malawi

Malawi govt offers incetive regime for investors, 10-year tax holiday, duty free – Minister Mussa | Malawi Nyasa Times - Malawi breaking news in Malawi: "Investors coming to Malawi can find a favourable incentive regime that includes tax holiday for 10 years and extra breaks virtually allowing them to open factories without additional costs, Industry, Trade and Tourism Minister Henry Mussa."



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Reserve Bank sees continued kwacha stability - The Nation Online

Reserve Bank sees continued kwacha stability - The Nation Online:

The Reserve Bank of Malawi (RBM) has expressed confidence that the kwacha and the 

exchange rate will remain stable in the short to medium-term. 

RBM spokesperson Mbane Ngwira said this in the context of the disbursement on Friday of 

S84-3 million (K62 billion) by the World Bank in budget support. 

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Wage bill rise sustainable—IMF - The Nation Online

Wage bill rise sustainable—IMF - The Nation Online:

The International Monetary Fund (IMF) has backed the increase in the wage bill, saying it will 

not change the implementation of the current budget. 

IMF resident representative Jack Ree said on Monday that at the current level, the wage bill is 

sustainable; hence, no need for authorities to be under pressure. 

The global lender's official was speaking in the context of the figures from the Ministry of 

Finance, Economic Planning and Development which show that the public sector wage bill now 

stands at K309.6 billion, representing an increase of 14 percent or K36.1 billion from the 

previous financial year. 

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Domestic debt interest soars - The Nation Online

Domestic debt interest soars - The Nation Online:



Domestic debt interest soars

Grace Phiri O September 12, 2017 o Comments

Malawi is expected to pay huge interest totalling K177-3 billion on domestic debt, accounting

for 85 percent of total interest for domestic and foreign debt in the 2017/18 fiscal year.

This is an increase from the previous financial year's K143-5 billion, according to figures from

the Ministry of Finance, Economic Planning and Development.



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