$60 million tractor assembly plant set for Chipata – Zambia Daily Mail

$60 million tractor assembly plant set for Chipata – Zambia Daily Mail: "$60 million tractor assembly plant set for Chipata
January 31, 20181  Chipata
A BELARUS-BASED tractor manufacturing firm plans to set up an assembly plant to accelerate mechanised agriculture in Chipata with an initial investment of about US$60 million.


Eastern Province permanent secretary Chanda Kasolo said the tractor assembly plant to be established by Minsk Tractor Works will result in the up scaling of agriculture production in the province, which is second in agriculture production after Central Province.

The development will also boost revenue for the province through the export of tractors to neighbouring Malawi, Mozambique and other countries within the region."



'via Blog this'

Malawi News Agency Online - 5 million Malawians get their national IDS

Malawi News Agency Online - 5 million Malawians get their national IDS: "Blantyre, January 11, 2018:  At least 5 million Malawians in the central and southern regions who were registered in the national registration exercise have managed to get their National Identity Cards (IDs).

National Registration Bureau Spokesperson, Norman Fulatira told Malawi News Agency on Thursday that the registrants were from all the districts in the central region and some from Blantyre, Neno, Chiradzulu, Mwanza and Nsanje in the southern region."



'via Blog this'

Malawi News Agency Online - AICC hails textile manufacturing company project

Malawi News Agency Online - AICC hails textile manufacturing company project: "BLANTYRE, January 29, 2018: The African Institute of Corporate Citizenship (AICC) says it is optimistic that the textile manufacturing company currently under construction in Salima will help in boosting the cotton sector through improved selling prices at markets.

Malawi Cotton Company Limited, a subsidiary of China Africa Cotton Development is the one constructing the factory.

AICC Project Officer for Cotton Platform Isaac Tembo said this on Wednesday in interview with Malawi News Agency.

He said the coming of this local textile factory will eliminate the fears of fluctuating international market prices by stabilising prices on the domestic markets leading to more lucrative offers to local farmers.

“The anticipated local textile industry will push cotton production upwards, because of the increased demand of cotton lint which will prompt farmers to produce more due to the already available market,” Tembo said."



'via Blog this'

MERA hikes electricity tariff by 24.6 percent - The Maravi Post

MERA hikes electricity tariff by 24.6 percent - The Maravi Post: "BLANTYRE-(MaraviPost)-Malawi Energy Regulatory Authority (MERA) said it has hiked the electricity tariffs by 24.67 percent.

This is because of the Electricity Supply Corporation of Malawi (ESCOM) will now depend on power generators that are expected to add 55 megawatts (MW) to the country’s national power grid."



'via Blog this'

President Mutharika commissions 55 megawatts of power supply, says it is the end of poverty - The Maravi Post

President Mutharika commissions 55 megawatts of power supply, says it is the end of poverty - The Maravi Post: "President Peter Mutharika Wednesday said the commissioning of the 55 megawatts of power supply is ‘the beginning of the end of Malawi’s economic stagnation,’ saying ‘with enough energy, we are unlocking the secret to be economic transformation. ‘

President Mutharika who was speaking after symbolically switching on the generators, said: “In the three years of my Government, we have done more to resolve the energy problem than any other Government since independence.”"



'via Blog this'

Looking ahead to budget meeting | The Times Group

Looking ahead to budget meeting | The Times Group:



Looking ahead to budget meeting
Looking ahead to budget meeting
Posted By: Grace Thipa on: January 31, 2018 In: Business No Comments

The Economics Association of Malawi (Ecama) says the key thematic areas to take centre stage

during the Mid-year Budget Review Meeting should be how government plans to cut unnecessary

expenditure and what mitigating factors it has put in place to mitigate the dry weather conditions

A press statement signed by Speaker of the National Assembly, Richard Msowoya, indicates that

the budget review meeting for the 2017/2018 Financial Year is scheduled to take place in the

Parliament Chamber from February 5 to March 2.

This will be the second meeting in the current 47th Session of Parliament

Speaking ahead of the gathering, Ecama President, Chikumbutso Kalilombe, said stakeholders

will be interested to know how government will allocate resources to consolidate gains, at a time

when the Malawi Revenue Authority (MRA) has missed its mid-year revenue target


'via Blog this'

New survey to assess financial literacy levels | The Times Group

New survey to assess financial literacy levels | The Times Group:



New survey to assess financial literacy levels

Posted By: Taonga Sabola on: January 30, 2018 In: Business No Comments

The Reserve Bank of Malawi (RBM) has embarked on a survey to establish levels of financial

literacy in the country.

A statement from RBM indicates that the survey follows a similar exercise conducted in 2014.

RBM said the survey aims to assess the impact of various financial literacy initiatives employed

over the past couple of years.

RBM, through the Financial Sector Technical Assistance Project, has overthe past years

enhanced efforts to increase financial literacy among Malawians





'via Blog this'

Geophysical data processing advances | The Times Group

Geophysical data processing advances | The Times Group:



Geophysical data processing advances

Posted By: Caroline Kandiero on: January 30, 2018 In: Business No Comments

Interpretation of the airborne geophysical data for a possible mineral location in the country is at

an advanced stage and its results are expected to be launched in February, the Department ot

Geological Survey has said.

Malawi conducted a country wide nigh resolution airborne geophysical data in 2013, which

involved low flying aircrafts hovering over the whole country, in search for high value mineral

deposits.

Department ot Geological Survey Director, Jalt Salima, on Monday said the department is

currently finalising interpretation of the data.

"Recently, we nad a stakeholders' meeting, whereby we released the preliminary results for the

interpretatiom The meeting was aimed at sourcing input trom the stakeholders, so that we finalise

our results, ready tor a launch, which we expect to take place by mid-February," he said.

Salima said the results will provide baseline data tor companies that lacked capacity to do an

interpretation of the data.





'via Blog this'

Managing debt critical for next Extended Credit Facility —IMF | The Times Group

Managing debt critical for next Extended Credit Facility —IMF | The Times Group:



Managing debt critical for next Extended Credit

Facility —IMF

Posted By: William Kumwembe on: January 30: 2018 In: Business No Comments

The International Monetary Fund (IMF) has said it will maintain its focus on seeing the Malawi

government putting a tight lid on its debt dynamics before an agreement on the next Extended

Credit Facility (ECF) programme.

IMF Resident Representative, Jack Reel said this will help to avoid the danger ot debt

snowballing.





'via Blog this'

Air Cargo moves to boost exports | The Times Group

Air Cargo moves to boost exports | The Times Group:



Air Cargo moves to boost exports

Posted By: Caroline Kandiero on: January 29, 2018 In: Business No Comments

Air Cargo Malawi (ACM) nas disclosed plans to encourage the country's farmers to take

advantage ot various opportunities it offers to boost Malawi's expoäs.

ACM Board Chairperson, Mike Mlomöwa, said local farmers could take advantage ot an Emirates

cargo plane which flies into Malawi a couple ot times a week to haul their cargo to boost their

export businesses.

Mlombwa said ACM is supposed to expon 103,000 kgs of merchandise tnrougn the plane but that

oftentimes, it leaves Malawi empty.


'via Blog this'

Mkango set for Songwe study | The Times Group

Mkango set for Songwe study | The Times Group:

Mkango set for Songwe study 

Posted By: George Mhango on: January 29. 2018 In: Business No Comments 
Anadian miner, Mkango Resources Limited, nas said it will soon commence a feasibility study ot 
its Songwe Hill Rare Earths Project in pnalomöe. 
This follows the receipt, last week, ot both shareholder and final Toronto Stock Exchange USX) 
Venture Exchange approval and investments totalling €6 million by its subsidiaries. 
Information posted on its website Thursday indicated that Talaxis nas invested E5 million into 
Mkango subsidiary, Lancaster Exploration Limited, in return tor a 20 percent interest in Lancaster. 
"upon completion of the feasibility study for Songwe and subject to completion of the definitive 
documentation, Talaxis will nave the option to acquire a further 26 percent interest in Lancaster, 
increasing its aggregate interest to 75 percent," Mkango said. 




'via Blog this'

Firm sees inflation averaging 9% in 2018 | The Times Group

Firm sees inflation averaging 9% in 2018 | The Times Group:



Firm sees inflation averaging 9% in 2018

Posted By: Taonga Sabola on: January 29, 2018 In: Business No Comments

Investment management and advisory firm, Alliance Capital, nas predicted that inflation would

average nine percent in 2018 despite a double threat ot tall armyworms and dry spell which have

attected maize production, threatening the lives of 850,000 households.

Food remains the biggest contributor to the Consumer Price Index witn a weighing ot 50.2

percent

The nine percent average inflation could be 2.5 percentage points better than the 11.5 percent

recorded in 2017.

In its Economic Repon for 2017 and Outlook tor 2018, Alliance Capital said it expects inflation to

continue declining albeit marginally in 2018 on the back of uninterrupted food supply, a stable

currency and tight fiscal and monetary policies.





'via Blog this'

Govt departments, investor differ on compensation - The Nation Online

Govt departments, investor differ on compensation - The Nation Online:

Govt departments, investor differ on 

compensation 

Suzgo Chitete O January 28, 2018 o Comments 

There are conflicting reports over disputed compensation to communities around Malingunde, 

Lilongvve, where graphite is being explored. The Australian investor says relevant departments 

were involved in the process while the Ministry of Lands says it is yet to conduct an assessment. 

This follows a Nation on Sundaystory a fortnight ago, which exposed frustration of villagers 

whose land is being used for exploration of graphite—a flake essential in making batteries for 

cell-phones, among other purposes. 

'via Blog this'

Malawi’s foreign debt rises to US$ 1.9 billion; Appetite for borrowing - The Maravi Post

Malawi’s foreign debt rises to US$ 1.9 billion; Appetite for borrowing - The Maravi Post: "Malawi’s foreign debt rises to US$ 1.9 billion; Appetite for borrowing
By Our Reporter   /   Sunday, 28 Jan 2018 

Finance Minister Goodall Gondwe, Heavily Indebted Poor Countries (HIPIC, International Monitory Fund (IMF), Mejn Executive Director Dalitso Kubalasa   /   35 views



LILONGWE-(MaraviPost)-Malawi government’s appetite for borrowing is worrying many including the International Monitory Fund (IMF) which warns that the country is at risk of a debt distress if no swift action is taken to reverse the situation.

Latest figures show that outstanding domestic debt stock stands at over MK913 billion, almost close to the country’s annual budget, while the external debt stock is above US$1.9 billion (about MK140 billion).

What is worrying is that within a space of three yea"



'via Blog this'

Malawi News Agency Online - MERA for increased usage of biogas among Malawians

Malawi News Agency Online - MERA for increased usage of biogas among Malawians: "Blantyre, January 26: High cost and low availability of gas have been blamed as key reasons leading to low usage of biogas among Malawians.

Malawi Energy Regulatory Authority (MERA)’s Chief Executive Officer, Dr Collins Magalasi recently told the Malawi News Agency (MANA) in Blantyre that the body has noticed the low usage of gas among Malawians such that steps were being taken to address the challenge.

He said despite gas being cheaper than other energy sources on the global market, the commodity is expensive in Malawi due to the fact that it is imported and subjected to taxes and levies as a result importers sell at higher price to recover the landing cost and make profits as well."



'via Blog this'

Ministry, RBM in move to boost remittances - The Nation Online

Ministry, RBM in move to boost remittances - The Nation Online:

Ministry, RBM in move to boost 

remittances 
 

Christopher Jimu O January 26, 2018 o Comments

The Ministry of Foreign Affairs and International Cooperation has set up a diaspora web portal

to enable Malawians living abroad remit money in a broader strategy to shore up foreign

exchange reserves.

Currently, most Malawians use informal channels to send remittances—funds a person earning

a living abroad sends to his or her country of origin via wire, mail or online transfer—making it

difficult for the Reserve Bank of Malawi (RBM) to account for it.





'via Blog this'

AfDB project to boost tourism investments - The Nation Online

AfDB project to boost tourism investments - The Nation Online:

Christopher Jimu O January 25, 2018 o Comments

Malawi Tourism Council (MTC), a consortium of private sector tourism operators, will this year

participate in a four-year tourism development and promotion project to be coordinated by the

Department of Tourism and funded by the African Development Bank (AfDB).

The project, which will run up to 2021, is aimed at benefitting tourism enterprises and local

communities surrounding them across the country.





'via Blog this'

Authorities weigh in on economic growth | The Times Group

Authorities weigh in on economic growth | The Times Group:





Authorities weigh in on economic growth

Posted By: Grace Thipa on: January 26, 2018 In: Business No Comments

Economic think tanks are projecting the Malawi economy to grow between five and 5.5 percent in

2018 riding on the back ot continued availability of food and prudent fiscal expenditure, among

other factors.

The International Monetary Fund (IMF) nas put growth in Gross Domestic Product at five percent

this year but nas said the tigure may change atter periodic statutory consultations with member

countries, a process that is expected to start next week.





'via Blog this'

Mkango Receives £6 Million (C$10.5 Million) Investment From Talaxis and Commences Feasibility Study for the Songwe Hill Rare Earths Project in Malawi | Markets Insider

Mkango Receives £6 Million (C$10.5 Million) Investment From Talaxis and Commences Feasibility Study for the Songwe Hill Rare Earths Project in Malawi | Markets Insider: "Mkango Receives £6 Million (C$10.5 Million) Investment From Talaxis and Commences Feasibility Study for the Songwe Hill Rare Earths Project in Malawi
PRESS RELEASE GlobeNewswire
Jan. 24, 2018, 10:30 AM
LONDON and CALGARY, Alberta, Jan. 24, 2018 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM:MKA) (TSX-V:MKA) (the "Company" or "Mkango") is pleased to announce that following receipt of both shareholder and final TSX Venture Exchange approval, investments totalling £6 million (C$10.5 million) have been received by Mkango subsidiaries in accordance with the previously announced agreement (“Agreement”) with Talaxis Limited (“Talaxis”):"



'via Blog this'

Malawi's power outages rages on till April - The Maravi Post

Malawi's power outages rages on till April - The Maravi Post: "BLANTYRE-(MaraviPost)-Business players and home owners should expect more power blackouts with officials from the Electricity Generation Company (EGENCO) revealing that the situation is likely to normalise by April this year.

This is when the diesel generators are stalled.

Both EGENCO and the Electricity Supply Corporation of Malawi (ESCOM) officials had earlier disclosed that the situation would normalise by the end of this month but this has not been the case."



'via Blog this'

Mid-year budget review starts Feb 5 | Malawi 24 - All the latest Malawi news

Mid-year budget review starts Feb 5 | Malawi 24 - All the latest Malawi news:







BY MALAW124 REPORTER ON JAN 25, 2018

Members of Parliament will meet for the Mid-year Budget Review starting on February 5.

According to a statement on Malawi Government Facebook page, the meeting will give parliamentarians an  opportunity to review the mid-year performance of the approved 2017/18 financial year budget and debate  and adopt changes.


'via Blog this'

Forex reserves drop normal, says rbm - The Nation Online

Forex reserves drop normal, says rbm - The Nation Online:



Forex reserves drop normal, says rbm

Orama Chinamulungu O January 25, 2018 o Comments

The Reserve Bank of Malawi (RBM) and some economists have said the marginal decline in the

foreign exchange reserves is seasonal and a normal occurence on the market.

In recent months, the central bank has maintained a foreign exchange reserves position of about

three months of import cover, which is the minimum recommended international threshold, a

situation attributed to open market operations— the buying and selling of government securities

in the open market to expand or contract money supply.





'via Blog this'

Worry over fiscal discipline as 2019 elections approach | The Times Group

Worry over fiscal discipline as 2019 elections approach | The Times Group:



Worry over fiscal discipline as 2019 elections

approach

Posted By: Taonga Sabola on: January 25, 2018 In: Business No Comments

The African Development Bank (AfDB) has said it sees mounting pressure on fiscal spending as

Malawi heads towards the 2019 elections.

In its Africa Economic Outlook for 2018 released recently, the AfDB said the increased fiscal

spending would come about as the current administration strengthens efforts to win re-election.

Malawi will go to the polls in May 2019 to elect a new leader to propel the economy to prosperity

up to May 2024.





'via Blog this'

Outlook positive for sugar in 2018 | The Times Group

Outlook positive for sugar in 2018 | The Times Group:





Outlook positive for sugar in 2018

Posted By: Grace Thipa on: January 25, 2018 In: Business No Comments

The 2018 outlook for sugar looks positive

following an assurance from the Sugarcane

Growers Association of Malawi (Sugam) of a

healthy crop in Nchalo and Dwangwa and a

secure domestic market.





'via Blog this'

European Union grants Malawi K16 billion for electricity project | The Times Group

European Union grants Malawi K16 billion for

electricity project

Posted By: Chimwemwe Mangazi on: January 25, 2018 In: National No Comments

The European Union (EU) and Kreditanstalt für Wiederaufbau (KM') yesterday signed an

agreement where the latter will provide a €20 million (K 16 billion) grant to the Malawi Government

for the Malawi-Mozambique interconnector project.

Completion of the project will link Malawi to the Southern African Power Pool (Sapp) where the

country will be able to purchase electricity from the regional market and ease electricity challenges

prevailing in the country.


European Union grants Malawi K16 billion for electricity project | The Times Group:

'via Blog this'

Tanzania introduces cargo ships on Lake Malawi

Tanzania introduces cargo ships on Lake Malawi: "Tanzania introduces cargo ships on Lake Malawi
Written by  Mike Mkwala
погода киев
купить защитную пленку на планшет
The Tanzanian Ambassador to Malawi, Benedicto Martin Mashaba says in a quest to enhance the bilateral relationship that exists between Malawi and Tanzania, the Tanzania Ports Authority has introduced two cargo ships to ferrying goods and services between the two countries.


22
January
The Tanzania High Commissioner to Malawi was speaking at Nkhata Bay when welcoming one of the cargo ships, MV Njombe."



'via Blog this'

Mkango Resources receives shareholders go-ahead for Talaxis deal

Mkango Resources receives shareholders go-ahead for Talaxis deal: "Mkango Resources receives go-ahead from shareholders for Talaxis deal
Malawi-focused Mkango Resources has received shareholder approval for its deal with Talaxis - a wholly owned subsidiary of Noble Group.
Mkango Resources’ shareholders approved the entering into and completion of the investment transaction on a disinterested basis (after excluding any votes represented by shares held by Talaxis) at its annual and special meeting of shareholders held in Toronto on Thursday 18 January 2018."



'via Blog this'

Uranium veteran expects price stalemate to crack in 2019

Uranium veteran expects price stalemate to crack in 2019: "Uranium veteran expects price stalemate to crack in 2019
Yashaswini Swamynathan
3 MIN READ

(Reuters) - Uranium producers’ deliberate cuts to production should finally begin to prop up prices next year as reserves of the rare metal dwindle and nuclear power generators rush to lock-in long-term contracts, according to sector veteran John Borshoff.

Shares in uranium producers briefly rose late last year after the world’s biggest listed producer Cameco Corp and Kazakhstan’s state-run Kazatomprom laid out plans to reduce production to help end a period of low prices dating back to Japan’s Fukushima meltdown in 2011."



'via Blog this'

PPPC earmarks 7 projects for PPP - The Nation Online

PPPC earmarks 7 projects for PPP

Rex Chikoko O January 24, 2018 o Comments

Public Private Partnership Commission (PPPC), the sole authority for the implementation of

Public Private Partnerships (PPPs), says it has targeted seven new PPP projects after completing

four.

The almost ready projects under PPP are the public university accommodation project intended
 to add about 10 000 units in the country's public universities.

PPPC earmarks 7 projects for PPP - The Nation Online:



'via Blog this'

National Statistical Office rebasing inflation | The Times Group

National Statistical Office rebasing inflation
Posted By: Taonga Sabola on: January 24, 2018 In: Business No Comments
The National Statistical Office (NSO) is in the process of rebasing the country's inflation from 2012
as base year to 2017.
The development will help Malawi's inflation to be more reflective of the situation on the ground.
The development comes at a time when the country's inflation has been sailing in single digits
since August 2017.
As of December 2017, inflation was recorded at 7.1 percent, down from
7.7 percent in November.



National Statistical Office rebasing inflation | The Times Group:



'via Blog this'

India, Malawi discuss uranium deal - The Nation Online

India, Malawi discuss uranium deal - The Nation Online:



India, Malawi discuss uranium deal

Golden Matonga O January 24, 2018 o Comments

Malawi and India are engaged in negotiations for a possible uranium deal which could see India

importing the yellow cake from Kayelekera Uranium Mine in Karonga.

Secretary to the Treasury Ben Botolo and Indian High Commissioner Suresh Kumar Menon said

in separate interviews yesterday that the two countries were discussing the possible deal.





'via Blog this'

Mozambique closes $8bn offshore LNG deal - News - fDiIntelligence.com

Mozambique closes $8bn offshore LNG deal - News - fDiIntelligence.com: "Mozambique may be one of the world’s more financially troubled economies, but that has not stopped it from closing one of the region’s most ambitious energy deals.

Despite defaulting in 2017 and lying to the IMF about some $2bn in undisclosed state-backed loans, a consortium of international investors and energy companies will invest $8bn in Mozambique to develop the Coral Floating Liquefied Natural Gas project."



'via Blog this'

Malawi ethanol producers to invest $100 million to crush cane for feedstock : Biofuels Digest

Malawi ethanol producers to invest $100 million to crush cane for feedstock : Biofuels Digest: "Malawi ethanol producers to invest $100 million to crush cane for feedstock
January 18, 2018 | Meghan Sapp

 In Malawi, Presscane and Ethco plan to invest $100 million in two sugarcane crushing facilities to produce syrup for ethanol production at their existing facilities. The companies currently rely on an unsteady supply of molasses from Illovo Sugar that keeps their distilleries running far below 100% production capacity even though there is sufficient demand in the market, pushing up costs of production and jeopardizing economic viability. Surplus syrup will be exported through an agreement with India’s Uttam Energy."



'via Blog this'

Malawi Airlines hailed for on-time departure at OR Tambo - The Maravi Post

Malawi Airlines hailed for on-time departure at OR Tambo - The Maravi Post: "Malawi Airlines has been hailed for delivering excellent departure on-time performance at OR Tambo International Airport in 2017 thereby contributing to the airport’s operational efficiency.

According to Airports Company South Africa Malawi Airlines’ departure on-time performance at OR Tambo in 2017 averaged 92.33% surpassing the airport’s target of 87%"



'via Blog this'

Central Bank targets 5% inflation for December

Central Bank targets 5% inflation for December: "The Reserve Bank of Malawi (RBM) has projected a five percent inflation target for December 2018. Spokesperson Mbame Ngwira was speaking in view of growing down of inflation by 0.6 percent to 7.1 percent for December 2017 from 7.7 percent as of November 2017.

"



'via Blog this'

Malawi Ranked Poorly on Power Sector

Malawi Ranked Poorly on Power Sector: "Malawi has been ranked as the fifth on the list of worst performing nations in power supply in the world.

This is according to a list released by the Spectator Index for the year 2017.

According to the list, of the 137 listed countries, Yemen is the worst electricity supply nation, followed by Nigeria, Haiti and Lebanon.

Malawi has been going through persistent power outages due to what authorities say are low levels of water in Lake Malawi."



'via Blog this'

Unbelievable; Northern Region Water Board makes MK1.1 billion in six months - The Maravi Post

Unbelievable; Northern Region Water Board makes MK1.1 billion in six months - The Maravi Post: "MZUZU-(MaraviPost)-Northern Region Water Board (NRWB) says it has collected about MK1.1 billion in six months, making a net profit of MK278 million.

This is according to the NRWB report presented to the Parliamentary committee on Wednesday"



'via Blog this'

Airtel Malawi launches 4G network for faster and better data connectivity - The Maravi Post

Airtel Malawi launches 4G network for faster and better data connectivity - The Maravi Post: "LILONGWE-(MaraviPost)-The country’s leading Smartphone and network provider Airtel Malawi on Friday launched 4G technology for faster and data connectivity.

This is an improvement from 3.7G technology that the company’s customers have been enjoying for a year.

With a 4G powered phone or tablet, subscribers will be able to enjoy faster internet usage at homes, offices while also traveling."



'via Blog this'

Exim Bank of China to finance Malawi coal-fired power plant project | Malawi Nyasa Times - Malawi breaking news in Malawi

Exim Bank of China to finance Malawi coal-fired power plant project  | Malawi Nyasa Times - Malawi breaking news in Malawi: "Malawi government has disclosed that the Kam’mwamba Coal-Fired Power Plant Project is being financed by a loan from Export and Import(Exim) Bank of China to the tune of $667 million project with Lilongwe  required to source $104 million as commitment fee."



'via Blog this'

Central Bank targets 5% inflation for December

Central Bank targets 5% inflation for December: "The Reserve Bank of Malawi (RBM) has projected a five percent inflation target for December 2018.


18
January

RBM Spokesperson Mbame Ngwira was speaking in view of growing down of inflation by 0.6 percent to 7.1 percent for December 2017 from 7.7 percent as of November 2017.


Ngwira said the downward trend of inflation which has been necessitated by stable fuel prices, tight monetary policy and a tight fiscal stance that has seen government spending within its budget will continue this year."



'via Blog this'

Malawi Ranked Poorly on Power Sector

Malawi Ranked Poorly on Power Sector: "Malawi has been ranked as the fifth on the list of worst performing nations in power supply in the world.

This is according to a list released by the Spectator Index for the year 2017.

According to the list, of the 137 listed countries, Yemen is the worst electricity supply nation, followed by Nigeria, Haiti and Lebanon."



'via Blog this'

Mkango Announces Shareholder Approval for Talaxis Transaction TSX Venture Exchange:MKA

Mkango Announces Shareholder Approval for Talaxis Transaction TSX Venture Exchange:MKA: "



S Mkango Resources Ltd. (AIM:MKA) (TSX-V:MKA) (the "Company" or "Mkango") is pleased announce that shareholders have approved the entering into and completion of the previously announced investment transaction with Talaxis Limited (“Talaxis”) on a disinterested basis (after excluding any votes represented by shares held by Talaxis) at its annual and special meeting of shareholders held in Toronto today (the “Meeting”)."



'via Blog this'

Mozambique: Heavy Costs for Cfm in Vale's Switch Away From Beira - allAfrica.com

Mozambique: Heavy Costs for Cfm in Vale's Switch Away From Beira - allAfrica.com: "Mozambique: Heavy Costs for Cfm in Vale's Switch Away From Beira  The decision by the Brazilian mining company Vale to stop using the Sena railway line from its mine in Moatize, in Tete province, to the port of Beira, is costing the Mozambican publicly owned port and rail company, CFM, 45 million US dollars a year, according to the executive director of the central division of CFM (CFM-Centro), Augusto Abudo, cited by Radio Mozambique."



'via Blog this'

Sovereign Metals finds high-grade graphite in Malawi, on track to upgrade Malingunde resource

Sovereign Metals finds high-grade graphite in Malawi, on track to upgrade Malingunde resource: "Sovereign Metals (ASX: SVM) has returned high-grade results from a recent drilling campaign at its Malingunde saprolite-hosted graphite flake deposit in the African nation of Malawi.

An aircore drilling program was conducted on the project in late 2017, with 210 holes for 6212 metres completed.

The program was designed to further define and upgrade the resource classification levels for inclusion in the project’s ongoing pre-feasibility study, as well as to test the graphite mineralisation at Malingunde South Extension and other targets."



'via Blog this'

Inflation eases to 7.1% | The Times Group

Inflation eases to 7.1% | The Times Group:





Inflation eases to 7.1%

Posted By: Taonga Sabola on: January 18, 2018 In: Business No Comments

Malawi's headline inflation eased by 0.6 percent in December to hit 7.1 percent, thanks to

improved food availability, the National Statistical Office (NSO) has said.

The December 2017 inflation is 12.9 percentage points better than that recorded in December

2016.

NSO said urban and rural inflation rates stand at 6.8 percent and 7.6 percent, respectively.

"Overall, food inflation stands at 4.3 percent from 4.7 percent in November 2017 while non-food

inflation stands at 10 percent from 11 percent," NSO said.

On average, Malawi's headline inflation rate for 2017 averaged 11.5 percent compared to the

annual headline inflation of 21.7 percent in 2016.





'via Blog this'

MCA-Malawi

MCA-Malawi: "EXPECT MORE INVESTMENTS IN POWER SECTOR-MERA
Hits: 257
The Malawi Energy Regulatory Authority (MERA) says Malawians should expect new investments in the electricity sector as a result of the implementation of various reforms in the sector.

The energy sector regulator also says currently, an enabling environment has been created in the country’s power sector for increased private sector investment in electricity generation, in the wake of the reforms.

“With the reforms that have taken place in the electricity sector, Malawians should expect new investments in the electricity sector particularly in power generation,” said MERA Acting Chief Executive Officer Ishmael Chiwoko in an email interview.

He was speaking in the context of how reforms under the Millennium Challenge Corporation (MCC) funded power compact, worth $350.7 million, has impacted on their role as energy sector regulator so far."



'via Blog this'

Malawi On The Move: Inflation Rate Goes Further Down To 7.1% – Malawi Voice

Malawi On The Move: Inflation Rate Goes Further Down To 7.1% – Malawi Voice: "Malawi On The Move: Inflation Rate Goes Further Down To 7.1%
By Malawi Voice Reporter on January 16, 201834 Comments


President Mutharika: His sound economic management policies have helped to tame inflation
The positive trend of the Malawi inflation continues as the rate has gone further down to 7.1 percent for December 2017 from 7.7 percent in November 2017
Malawi started registering single digit inflation in August 2017 when the rate ticked down to 9.3 percent from 10.3 percent."



'via Blog this'

Malawi Mangoes eyes new markets | The Times Group

Malawi Mangoes eyes new markets | The Times Group:



Malawi Mangoes eyes new markets

Posted By: Caroline Kandiero on: January 17, 2018 In: Business No Comments

Malawi Mangoes has indicated that it will seek to take its products to new markets this year,

outside Dubai and Kuwait, where the firm has a footprint.

Among the targeted markets are USA, Europe and India.

Malawi Mangoes General Manager, Charlie Leaper, has confirmed that the firm is targeting to

export over 80 metric tonnes of Malawi mangoes following huge demand for the products on the

international market.





'via Blog this'

MCC Compacts Not Extended In Any Country-US Embassy – Malawi Voice

MCC Compacts Not Extended In Any Country-US Embassy – Malawi Voice: "MCC Compacts Not Extended In Any Country-US Embassy
By Malawi Voice Reporter on January 11, 201820 Comments


Flashback: MCC DVP Jonathan Bloom touring the turbine floor at Nkula A Hydro power plant
The US Embassy in Malawi says Millennium Challenge Corporation (MCC) compacts are not extended in any country.
The MCC’s compact with Malawi comes to an end in September 2018."



'via Blog this'

Uranium prices on the up as producers announce major supply cutbacks

Uranium prices on the up as producers announce major supply cutbacks: "Uranium prices on the up as producers announce major supply cutbacks
The weak price of uranium (U3O8) has turned the corner and is slowly improving thanks to significant production cuts from existing producers.
The nine year bear market which took the spot price down from approximately US$140/lb U3O8 in 2007 has slowly begun to turn upwards says uranium junior GoviEx in a briefing to shareholders, investors and media."



'via Blog this'

Stock market turnover up 117.74% | The Times Group

Stock market turnover up 117.74% | The Times Group:



Stock market turnover up 117.74%

Posted By: Grace Thipa on: January 09, 2018 In: Business No Comments

Analysts have said the increase in the stock market turnover from K6.2 billion in 2016 to Kl 3.5

billion in 2017 shows that investors are showing more confidence in the stock market and the

economy as a whole.

The market has registered a positive return on index reflected in the upward movement of the

Malawi All Share Index (Masi) from 13320.51 registered on January 3 2017 to 21598.07 on

December 29, giving a return on index of 62.4 percent compared to -8.51 percent in 2016.

In the period under review, a total of 698.8 million shares exchanged hands compared to 410.8

million shares traded during the same period in 2016.

The Malawi Stock Exchange (MSE) has attributed the jump to positive movement of shares in all

counters for a good part of 2017 and lower interest rates that boosted demand to trade on the

stock market than the money market.



'via Blog this'

US rebuffs Malawi on second compact of Millennium Challenge Corporation | Malawi Nyasa Times - Malawi breaking news in Malawi

US rebuffs Malawi on second compact of Millennium Challenge Corporation | Malawi Nyasa Times - 

US rebuffs Malawi on second compact of Millennium Challenge 

Corporation 


Alick Mande -Nyasa Times January 10,
2018 


The United State's Millennium Challenge
Corporation (MCC) has decided to not re-select Malawi for another compact
program support despite with following some poor scores on a scorecard,
including controlling corruption. The controlling  corruption indicator is one of the critical
assessment tools for sustenance of the project and examines whether  the country is making fight efforts to levels
of corruption, prosecution investigations.
 : 
:

'via Blog this'

Malawi–Mozambique power interconnector advancing | The Times Group

Malawi–Mozambique power interconnector advancing | The Times Group:



Malawi—Mozambique power interconnector

advancing

Posted By: Caroline Kandiero on: January 08, 2018 In: Business No Comments

Electricity Supply Corporation of Malawi (Escom) has said the 400 kilovolts Malawi—Mozambique

power interconnector is advancing as it has now reached a stage of identifying a contractor.

This was said on the sidelines of the arrival of 28 trucks carrying diesel power generators to be

installed in Blantyre.



'via Blog this'

Malawians Hail APM For Fulfilling Promise On ESCOM Diesel-powered Generators – Malawi Voice

Malawians Hail APM For Fulfilling Promise On ESCOM Diesel-powered Generators – Malawi Voice: "Malawians Hail APM For Fulfilling Promise On ESCOM Diesel-powered Generators
By Malawi Voice Reporter on January 6, 2018102 Comments

It was all smiles on Thursday evening in Blantyre when residents witnessed the arrival of the much awaited Electricity Supply Corporation of Malawi (ESCOM)’s 55 megawatts stand – by diesel powered generators."



'via Blog this'

Mzuzu EGENCO Gensets Commissioned – Malawi Voice

Mzuzu EGENCO Gensets Commissioned – Malawi Voice: "Electricity Generation Company (EGENCO) diesel powered generators meant to contain power outages installed in Mzuzu have been commissioned and are now are operational.

EGENCO Chief Executive Officer (CEO), William Liabunya said two units which are producing four megawatts are operating as one unit was commissioned last week and the other on Friday."



'via Blog this'

AfDB tips Malawi on cutting transport costs | The Times Group

AfDB tips Malawi on cutting transport costs | The Times Group:



AfDB tips Malawi on cutting transport costs

Posted By: Chimwemwe Mangazi on: January 03, 2018 In: Business No Comments

The African Development Bank (AfDB) has tipped Malawi to explore alternative modes of

transport if the country is to reduce transport costs in 2018

Currently, road transport is the dominant mode of transport in the country.

A Country Strategy Paper 2013-2017 for Malawi released by AfDB indicates that inadequate

infrastructure is one of the binding constraints to growth and private sector development.

It further notes that unit costs inside Malawi are at least twice as high as in South Africa, as a

result of long distances to ports and low backloads.



'via Blog this'

Malawi ranks poorly on Forbe’s business report | The Times Group

Malawi ranks poorly on Forbe’s business report | The Times Group:





Malawi ranks poorly on Forbe's business report

Posted By: Taonga Sabola on: January 04, 2018 In: Business No Comments

US-based global media giant, Forbes, has ranked Malawi poorly on business friendliness in 2017.

According to Forbes' Best Countries for Business Ratings for 2017, Malawi ranks on position 136

out of 153 global economies.

Within the region, Malawi ranks above Zimbabwe, which is on position 145.

According to the rankings, the United Kingdom is at the top for the first time, up from fifth in 2016.

Forbes says the rankings are determined using factors such as property rights, innovation, taxes,

technology, corruption, infrastructure, market size, political risk, quality of life, workforce, freedom,

red tape and investor protection.

"Each category was equally weighted. We only included countries with data across at least 11

cateqories," Forbes says.


'via Blog this'

‘Climate not conducive for exporters to benefit from Agoa’ - The Nation Online

‘Climate not conducive for exporters to benefit from Agoa’ - The Nation Online:



'Climate not conducive for exporters to

benefit from Agoa

Nation Online O January 5, 2018 o Comments

Exporters' quest to improve the quality of their products to meet global appeal, as part of efforts to boost the

export trade through initiatives such as the African Growth and Opportunity Act (Agoa), is being derailed by poor

business environment, a trade expert has said.

Malawi, unlike other sub-Saharan African countries that Agoa targets, has not explored the opportunity to full

potential during the past 15-year period of the United States government initiative—which among others is



'via Blog this'

Escom gensets arrive in Malawi to minimise intensify of blackouts | Malawi Nyasa Times - Malawi breaking news in Malawi

Escom gensets arrive in Malawi to minimise intensify of blackouts | Malawi Nyasa Times - Malawi breaking news in Malawi: "Escom gensets arrive in Malawi to minimise intensify of blackouts
January 6, 2018 Green Muheya -Nyasa Times 5 Comments
Blantyre residents on Thursday witnessed the arrival of the much awaited Electricity Supply Corporation of Malawi (ESCOM)’s stand – by diesel powered generators that are expected to add 78 megawatts (MW) to the country’s national power grid by January end and ease extended load shedding hours Malawians have been experiencing which Escom attributed to the decline in the water levels in Lake Malawi and the Shire River."



'via Blog this'

Firms project higher profits | The Times Group

Firms project higher profits | The Times Group:



Most companies registered on the Malawi Stoc k Exchange (MSE) are expecting to grow their

profits for the period ended December 2017, largely riding on the back of improvements in key

microeconomic indicators.

Some of the listed companies have forecast a jump in profits beyond 100 percent.

In its trading statement for the reporting period ending December 31 2017, Nico Holdings PLC has

forecast profits to be 180 percent higher than the previous year ended December 31 2016.

National Investment Trust PLC and Mpico PLC are expecting a profit jump of more than 100





'via Blog this'

The relationship between Malawi and China is getting stronger | D+C - Development + Cooperation

The relationship between Malawi and China is getting stronger | D+C - Development + Cooperation: "China has been accused of ripping Africa in general – and Malawi in particular – off its resources such as timber and minerals. But the Malawian government argues that the country has benefited a lot from the close ties with China.
Many people criticise that China only wants to exploit African countries’ natural resources. But Rejoice Shumba, spokesperson of Malawi’s Ministry of Foreign Affairs maintains that this is not true in the case of Malawi. “Natural resources are a source of income. We decide ourselves how much should be sold. Whenever Malawi decides to sell any of its natural resources, it sells to the highest bidder,” Shumba says."



'via Blog this'

Global X Uranium ETF(NYSE:URA): Uranium In Focus For 2018 | ETF Daily News

Global X Uranium ETF(NYSE:URA): Uranium In Focus For 2018 | ETF Daily News: "Uranium Could Make A Big Comeback In 2018 (URA)
Share This Article

December 30, 2017 7:39am NYSE:URA

From Matt Badiali: The forecast showed an extra 20 million pounds of uranium production for 2018 … with no buyers. As you can imagine, the uranium price plummeted.

It hit its lowest price in October 2016 at $18.75 per pound. That touched a 13-year low price.

The downtrend began back in 2011. The uranium price peaked at $72.50 per pound in January 2011. It fell steadily since then, down a total of 74%."



'via Blog this'

APM outlines 2018 plans, CHRR demands more - The Nation Online

APM outlines 2018 plans, CHRR demands more - The Nation Online:



SuzgoKhunga O January 2, 2018 o Comments

president Peter Mutharika yesterday outlined a number of developmental programmes his government intends

to embark on in 2018, including the nearly-forgotten Green Belt Initiative (GBI) and a new K176 billion irrigation

project.

But human rights organisation Centre for Human Rights and Rehabilitation (CHRR) has described the Mutharika

administration as having failed to live up to its promises in the just-ended year, citing poor governance and

increased corruption levels.



'via Blog this'

Malawian Airlines upbeat on open air market - The Nation Online

Malawian Airlines upbeat on open air market - The Nation Online:





Malawian Airlines upbeat on open air market

Orama Chinamulungu O January 3, 2018 o Comments

Malawian Airlines has described the move by the African Union (AU) to liberalise and unify the African air

transport markets by the end this month as a step in the right direction in as far as connecting the continent

through aviation is concerned.

'via Blog this'

Business confidence drives import cover | The Times Group

Business confidence drives import cover | The Times Group:



Business confidence drives import cover

Posted By: Chimwemwe Mangazi on: January 03, 2018 In: Business No Comments

Reserve Bank of Malawi Governor, Dalitso Kabambe, has attributed the improved import cover in

the past couple of months to confidence the private sector has in the economy.

Import cover is the amount of foreign exchange that the country maintains for importation of

strategic goods and commodities. Import cover is expressed in months and one common rule of

thumb is that reserves that can cover three months' worth of imports are adequate.

Kabambe said, in the past, the business community used to hold on to foreign currency due to

uncertainty over the performance of the kwacha, adding that following the local unit's stability over

the past year, the community is releasing forex.



'via Blog this'

Malawi to intensify tourism marketing in North America | The Times Group

Malawi to intensify tourism marketing in North America | The Times Group:

Malawi to intensify tourism marketing in North 

America 
Posted By: Caroline Kandiero on: January 02, 2018 In: Business No Comments 
The Department of Tourism in the Ministry of Industry Trade and Tourism has partnered Corner 
sun Destination Marketing to offer tourism, public relations and representation services in the US 
and North America markets. 
The partnership is from December 1 2017 and will run for two years. 
Director of Tourism, Isaac Katopola, said the objective of the partnership is to increase awareness 
and enhance visibility of Malawi as a tourist destination in the USA and North America in line with 
the strategic tourism framework for 2017-2022 tourism strategy, which is targeting an increase in 
arrivals from the current 804,000 to over one million tourists. 

'via Blog this'

Rice output up 8.1%—Aicc - The Nation Online

Rice output up 8.1%—Aicc - The Nation Online:



Rice output up 8.10/0—Aicc

Happy Mwachande @ January 1, 2018 o Comments

Rice output peaked at 15.2 million tonnes in 2017, representing an increase of 8.1 percent from

the previous year owing to favourable weather conditions, according to African Institute of

Corporate Citizenship (Aicc).

In its recent outlook for the next three months, figures by Aicc a non-governmental

organisation that promotes the role of business development shows that 2017 production is

the highest in 11 years.



'via Blog this'

Inflaton drops to six-year low - The Nation Online

Inflaton drops to six-year low - The Nation Online:





Inflaton drops to six-year low

Tinenenji Chalanda @ January 2, 2018 o Comments

After six years of waiting, the country's year-on-year inflation rate dropped to a single digit,

thanks to fiscal and monetary policies as well as a drop in food prices.

Food has a huge weight at 50.1 percent in the Consumer Price Index (CPI), a measure that

examines the weighted average price of a basket of consumer goods and services.



'via Blog this'