Gemstone Association of Malawi bemoans lack of gov’t support in marketing – Mining & Trade Review | Mining in Malawi

Gemstone Association of Malawi bemoans lack of gov’t support in marketing – Mining & Trade Review | Mining in Malawi: "By Deborah Manda

The Gemstone Association of Malawi (GAM) has bemoaned lack of government efforts in coming up with strategies which would help small scale miners identify profitable markets for their products.

GAM President John Chikokoto told Mining & Trade Review in an interview that unlike in other countries, Malawi does not have established markets and recommended prices for gemstones hence miners just sell their products at their own desired prices"



'via Blog this'

Efora Energy (formerly SacOil) relinquishes oil exploration licence in Malawi | Mining in Malawi

Efora Energy (formerly SacOil) relinquishes oil exploration licence in Malawi | Mining in Malawi: "EFORA ENERGY (FORMERLY SACOIL) RELINQUISHES OIL EXPLORATION LICENCE IN MALAWI
20 February 2018 · by Rachel Etter-Phoya · in Oil & Gas, SacOil. ·
Efora Energy (formerly SacOil) relinquishes oil exploration licence in Malawi
Prospecting for oil in Malawi’s northern Block 1 has not been successful. As a result, South African company Efora Energy has decided not to renew its prospecting licence.

According to JSE-listed Efora Energy, formerly trading under SacOil Holdings, the prospectivity did not meet project investment criteria. SacOil initially acquired the licence in December 2012."



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OUR COMMENT

ECAMA has challenged the Minister of Finance's claims that much of the development spending is going for long term investment. It turns out that  much of the money will be going for consumption. This is serious and it is a pity that the Minister has chosen the mendacious path to make his case.

Our Minister of Finance has always been largely focused on stabilisation and not economic development. This partly explains his attachment to the IMF and his failure to source much more readily available developmental  funds for infrastructure. His Ministry is simply unable to come up with bankable projects.

Age is also beginning to show. On all too many occasions his Ministry has made huge miscalculations, the recent one being the ADMARC bailout. Huge amounts of castigate money disappeared under his watch.  And yet he has not been taken to task for this. He recently announced that  the economy would grow 7 percent while at the same time telling the public that the Ministry  still had no estimates of how individual sectors would grow. This undermines his credibility, an important asset for a modern-day Minister of Finance.

The country badly needs a young, development oriented Minister.of Finance.

Ecama contradicts Goodall on borrowing - The Nation Online

Ecama contradicts Goodall on borrowing - The Nation Online:



Ecama contradicts Goodall on

borrowing

Grace O February 26, 2018 o Comments

An analysis by the Economics Association of Malawi (Ecama) has shown that the majority of

public expenditure is channelled towards consumption.

Out of K171.1 billion (25-5 percent of total expenditure) of the targeted development

expenditure for the first half of the year 2017/18, only K138.2 billion (20. 6 percent of total

expenditure) was the actual development expenditure outturn.





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Lilongwe Water Board in K75bn water project - The Nation Online

Lilongwe Water Board in K75bn water project - The Nation Online:



Lilongwe Water Board in K75bn water

project

Staff Writer O February 26, 2018 o Comments

Poor sanitation and intermittent water supply in Lilongwe and surrounding areas will be

history within five years as the World Bank subsidiary International Development Association

(IDA) will pump in Sloo million (about K75 billion) to improve water and sanitation services.

On December 20 last year, the World Bank Board approved the Lilongwe Water and Sanitation

Project (LWSP) amounting toS102 million, out of which $2 million will be a Malawi

Government contribution.





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National Statistical Office delays inflation figures for January | The Times Group

National Statistical Office delays inflation figures for January | The Times Group:

National Statistical Office delays inflation figures for

January

Posted By: Taonga Sabola on: February 21, 2018 In: Business No Comments

The National Statistical Office (NSO) has said it is in the process of rebasing the Consumer Price

Index (CPI), adding that this has resulted in the delay to release inflation figures for January.

Traditionally, NSO releases inflation figures on the 15th day of the following month but, as of

yesterday, it was yet to publish inflation figures for January.

NSO assistant Commissioner for Economics, Lizzie Chikoti, has confirmed the development.

"You are very correct that NSO releases inflation figures on the 15th of every month. This month,

the delay is due to the rebasing exercise that we have been doing.





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Ethanol power plant Offers clean energy - The Nation Online

Ethanol power plant Offers clean energy - The Nation Online:

O February 21, 2018 o Comments 

Ethanol production is becoming an increasingly go- to strategy for countries that are hoping to 

reduce carbon emissions, decrease the use of fossil fuels and adapt to the decreasing 

availability of oil and other fossil fuels. 

The country has the opportunity to move towards using locally-produced ethanol to generate 

power. 

US- based power company APR Energy recently announced that it intends to partner with 

Press Corporation Limited (PCL) plc—specifically one of its subsidiaries, Chikwawa—based 

ethanol producer PressCane Limited- to bring clean, renewable energy to the country. 





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US firm to supply dredging equipment for Kapichira - The Nation Online

US firm to supply dredging equipment for Kapichira - The Nation Online:

US firm to supply dredging equipment 

for Kapichira 

Llyod chitsulo O February 19, 2018 o Comments 

Hydropower efficiencies are expected to improve following the awarding of a contract to a 

United States (US) firm by the Malawi Challenge Account-Malawi (MCA-M) to supply 

dredging equipment at Kapichira Hydropower Plant. 

The MCA-M which is implementing a $350.7 million (K257 billion) energy compact 

announced that it awarded Elliott Dredges LLC a ST million (K5 billion) contract to support 

efforts in strengthening the country' s power sector. 

The US- based firm will supply dredging equipment to the Kapichira Hydropower Plant to 

help improve its generation by reducing the sediment in the reservoir, and therefore, 

increasing the amount of reservoir water volume and hydropower efficiencies. 

'via Blog this'

Dapp pilots shoe design training | The Times Group

Dapp pilots shoe design training | The Times Group:

Development Aid from People to People (Dapp) has introduced a shoe making course at its
Mikolongwe College targeting youths in selected districts in the Southern Region.
This comes at a time when Dapp discovered that the business of making shoes could help Malawi
gain more foreign exchange through shoe exports.
Mikolongwe College Deputy Principal, Zacheria Mano, said Dapp has partnered Technical
Entrepreneurial and Vocational Education Authority and Sympany based in the Netherlands for the
programme to run for three years.

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Foreign exchange reserves pick up | The Times Group

Foreign exchange reserves pick up | The Times Group:

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

— increased marginally last week from 3.39 months of import cover two weeks ago to 3.42

months as of Wednesday, latest figures from the Reserve Bank of Malawi (RBM) have shown.

Recent RBM Daily Financial Market Development report for February 16 indicates that as of last

week, total official reserves increased to $715.02 million from $709.17 two weeks ago.

The marginal increase comes as the country is going towards the end of its lean period, usually

between November and February, when demand for forex surges due to demand for fertiliser and

farm inputs.

The increase also comes as the local currency; the Malawi Kwacha, has marginally weakened

against the British Pound and the South African Rand over the past two months despite being

steady against the United States Dollar.

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Competition law yet to be fully embraced | The Times Group

Competition law yet to be fully embraced | The Times Group:


Despite having a robust competition enforcement mechanism in place, there is still slow progress

in some sectors to accommodate and embrace competition law, the Competition and Fair Trading

Commission (CFCT) has said.

Competition policy works to promote competition among market players and ensure that they offer

a range of goods at competitive prices so that consumers have the choice to buy elsewhere.

Locally, some of the repeat violations include disclaimers refusing liability for defective products,

misleading pricing and retailers withholding change from consumers.





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Sector growth projections to be reviewed March - The Nation Online

Sector growth projections to be reviewed March - The Nation Online:



Ministry of Finance, Economic Planning and Development has said it will review growth

projections for this year next month.

On Friday, Finance Minister Goodall Gondwe provided rough estimates of expected growth to

Parliament in his Mid Year Budget Review statement.


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Nacala underutilisation threatens 12 390 jobs - The Nation Online

Nacala underutilisation threatens 12 390 jobs - The Nation Online:



Nacala underutilisation threatens 12
390 jobs
Grace O February 16, 2018 o Comments
Despite the cost of competitiveness of rail than road transport, volume growth in transit
cargo, best suited for transport by rail and destined for landlocked Malawi, continues to
remain low.
According to the Nacala Corridor and Port Performance Assessment Report of February 2018 ,
the underutilisation of the corridor threatens 12 390 jobs.





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IMF Cautions Malawi on Budget Deficit

IMF Cautions Malawi on Budget Deficit: "An International Monetary Fund (IMF) mission team has completed review of Malawi’s economic performance and says it will recommend to its board in Washington that the Extended Credit Facility (ECF) be extended for 3 years. 

IMF Mission Chief for Malawi, Pritha Mitra, says, however, that the mission is concerned with serious shortfalls that need urgent attention for the Malawi economy to recover and grow.

Mitra raised concerns over revenue shortfall and expenditure overrun in the 2017-2018 including the bailout of maize purchase by ADMARC which she says will exert pressure on the budget."



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Complex uranium company restructure succeeds with KWM’s guidance

Complex uranium company restructure succeeds with KWM’s guidance: "A global firm showcased its national and regional capabilities as it helped in the complex restructure of a Western Australia-based uranium producer.

King

Malawi's Mid-Year 2017/2018 National Budget statement - The Maravi Post

Malawi's Mid-Year 2017/2018 National Budget statement - The Maravi Post: "LILONGWE-(MaraviPost)-Below is the Malawi Mid-year 2017-2018 national budget, presented at Parliament on Friday, February 16, 2018 by Minister of Finance, Goodwell Gondwe;

1. Mr. Speaker, Sir, since 2005, we have continued with the tradition that requires reviews of the budget after completing the first half of the financial year. There is no legal requirement that this must be done; but the practice has served us well because it enables us to examine the continued pursuance of sound fiscal management. This year as it will be the case henceforth; the reviews will ensure the maintenance of the hard won macroeconomic stability and a rebounded economy."



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Malawi economy to grow by up to 5% – IMF | Malawi 24 - All the latest Malawi news

Malawi economy to grow by up to 5% – IMF | Malawi 24 - All the latest Malawi news: "Malawi economy to grow by up to 5% – IMF 0
BY ARCHANGEL NZANGAYA ON FEB 15, 2018 BUSINESS
The International Monetary Fund (IMF) says Malawi’s economy will grow by up to 5 percent in 2018.

IMF Mission Chief for Malawi Pritha Mitra said on Wednesday that economic growth of 3 to 5 percent is expected in 2018, followed by a rise to 6-7 percent over the medium term as the country continues to recover from two years of drought.


Gondwe (L) and Mitra at a news conference.

“Growth will be supported by enhanced infrastructure investment and social services as well as an improved business environment, which will boost confidence and unlock the economy’s potential for higher, more broad-based, and resilient growth and employment,” said "



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Paladin to return to ASX, most shares in hands of creditors

Paladin to return to ASX, most shares in hands of creditors: "Paladin to return to ASX, most shares in hands of creditors
2ND FEBRUARY 2018

BY: MARIAAN WEBB
CREAMER MEDIA SENIOR RESEARCHER AND DEPUTY EDITOR ONLINE



JOHANNESBURG (miningweekly.com) – Uranium miner Paladin Energy will apply for its securities to be reinstated to official quotation on the ASX, the Australia-based company said on Friday, announcing the completion of its restructuring and the appointment of two new directors.

With the deed of company arrangement (DOCA) effected, deed administrators have retired and the day-to-day management and control of Paladin has reverted to the company’s directors. The two new board appointments are iCobalt MD David Riekie and former interim CEO and MD of Atlas Iron Daniel Harris."



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IMF fingers Admarc loan | The Times Group

IMF fingers Admarc loan | The Times Group:



IMF fingers Admarc loan
Posted By: Macdonald Thom on: February 15, 2018 In: National No Comments
The International Monetary Fund (IMF) has pointed out key challenges the 2017/18 budget is
experiencing, stressing the need to find solutions.
The IMF has cited revenue shortfalls and expenditure over-runs as some of the challenges
affecting the budget.
At a press conference in Lilongwe yesterday, Mission Chief to Malawi, Pritha Mitra, specifically
cited a bailout of maize purchase loans by the Agricultural Development and Markerting
Corporation (Admarc) as one of the issues which exerted pressure on the budget.
According to Minister of Finance, Goodall Gondwe, K45 billion was used to bailout Admarc.
The IMF team was briefing the media on the just-ended Article IV Consultations and Negotiations
on the next Extended Credit Facility (ECF) Programme.





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Dry spell to affect tobacco output | The Times Group

Dry spell to affect tobacco output | The Times Group:



Dry spell to affect tobacco output
Posted By: Samuel Kalimira on: February 14, 2018 In: Business No Comments
The Tobacco Association of Malawi (Tama) is worried that the dry spell that has hit some parts of
the country will affect the leaf 's output, making it difficult for the country to meet demand on the
international market.
Buyers have expressed an interest in buying 171 kilogrammes of the green gold this year.
Tama President, Abel Kalima-Banda, said the first estimates for tobacco production showed that
the country will produce less than the demand.
Kalima-Banda was speaking during the launch of the 2018 Tama Annual Area Meeting, which was
held in Rumphi district recently.





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Focusing the Lens in on Mkango Resources Ltd (MKA.L) Shares as they move 5.84% – SCY News

Focusing the Lens in on Mkango Resources Ltd (MKA.L) Shares as they move 5.84% – SCY News: "Focusing the Lens in on Mkango Resources Ltd (MKA.L) Shares as they move 5.84%
February 13, 2018 SCY Contributor     


Shares of Mkango Resources Ltd (MKA.L) have seen the needle move 5.84% or 0.56 in the most recent session. The LSE listed company saw a recent bid of $10.15 on 528593 volume. 

Investors might be reviewing portfolio performance over the last six months. Many investors will be tracking shares that are trading near important levels such as the 52-week high and 52-week low. When a stock is trading near new 52-week high, investors may have to decide whether they should sell or hold on for future gains. Stocks that are moving towards a new 52-week low may also be worth keeping an eye on. There are many factors that can have an impact on the health of a particular stock. This is one reason why stock picking can be extremely tough at times. Because there are always so many things to monitor, it may be next to impossible to build a formula that will continually beat the market. Even after all the applicable information has been examined, the investor still has to make sense of the data and figure out what to do with it. Knowing how to use company data can end up being the difference between handsome gains and crippling losses."



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Rains improve power situation | The Times Group

Rains improve power situation | The Times Group:



Rains improve power situation

Posted By: Caroline Kandiero on: February 13, 2018 In: Business No Comments

Heavy rains experienced in some parts of the country have led to an improvement in power

generation.

Both the Electricity Generation Company (Egenco) and Electricity Supply Corporation of Malawi

(Escom) have confirmed the development.

Egenco publicist, Moses Gwaza, said, following heavy rains in the Upper Shire, power generation

improved from 200 megawatts (MW) to 260 MW.





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Government unmoved as Ethiopian Airlines partners Zambia | The Times Group

Government unmoved as Ethiopian Airlines partners Zambia | The Times Group:





Government unmoved as Ethiopian Airlines partners

Zambia

Posted By: Caroline Kandiero on: February 12, 2018 In: Business No Comments

The government says it is not worried over the decision by Ethiopian Airlines to partner Zambia,

despite having another partnership with Malawi in Malawi Airlines.

Recently, Ethiopian Airlines signed a joint venture deal with the Zambian government which will

see the formation of a new airline in which Zambia will be the majority shareholder with 55 percent

and Ethiopian will have 45 percent stakes.

In a statement, Ethiopian Airlines Group Chief Executive Officer, Tewolde Gebremariam, said the

launching of Zambia Airways will enable the travelling public in Zambia and the Southern African

region to enjoy greater connectivity options, thereby facilitating the flow of investment, trade and

tourism and contributing to the socio-economic gro\Mh of the country and the region.





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Tobacco output falls below demand | The Times Group

Tobacco output falls below demand | The Times Group:



Tobacco output falls below demand

Posted By: William Kumwembe on: February 09, 2018 In: National No Comments

Malawi's tobacco production for this year is estimated at about 149 million kilogrammes (kg),

almost 12.8 percent less than international market demand, results of the first crop assessment

have shown.

For the 2018 marketing season, buyers need 171 million kg of all types of tobacco.

This may still be good news to some tobacco growers as the leaf is likely to fetch better prices if

buyers scramble for it.

Last year, the country grew about 124 million kg of all types of tobacco.





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Review of cargo centre management finalized | The Times Group

Review of cargo centre management finalized | The Times Group:

Review of cargo centre management finalized 
 Posted By: Caroline Kandiero on: February 09, 2018 In: Business No Comments 
 The Public Private Partnership Commission (PPPC) has finalised a review of the agreement 
 between the government and Malawi Cargo Centres Limited, in which Malawi Cargo will take up 
 the responsibility of maintaining and rehabilitating two cargo centres. 
 The government procured two cargo centres—Mbeya and Dar es Salaam in Tanzania— under a 
 bilateral agreement with the Tanzanian government. 
 PPPC Chief Executive Officer, Jimmy Lipunga, said the agreement will now see Malawi Cargo 
 investing $4 million for the maintenance works over a period of 25 years. 
 "This arrangement is operated under a leCargoase arrangement. In order to improve the facilities, 
 it was decided that the agreement be upgraded into a Public Private Partnership (PPP) so that the 
 government can leverage on private sector financing and expertise. 








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Firm planning to build solar plant | The Times Group

Firm planning to build solar plant | The Times Group:



Firm planning to build solar plant
Posted By: Taonga Sabola on: February 09, 2018 In: Business No Comments
As the country continues to experience power challenges, a firm called ProjectCo has disclosed
plans to build a 40 megawatts (MW) solar power station in Salima.
ProjectCo is a special purpose vehicle (SPV) incorporated to develop, finance, build, own and
operate solar energy projects.
ProjectCO, whose shareholders include Canadian JCM Power, InfraCo Africa Limited of the UK
and South Africa's Matswani Capital, has since floated bids for firms to build the station.
The firm said the station will be built on an 80-hectare site within 4km of Salima's Nanjoka
substation in Malawi. The solar photovoltaic (PV) power plant is to be built under a full-wrap
turnkey, lump sum fixed price, date-certain engineering, procurement and construction contract in
combination with a long-term operation and maintenance contract.





'via Blog this'

Malawi's preliminary tobacco estimates reduced by 12.8%; markets open end March- TCC - The Maravi Post

Malawi's preliminary tobacco estimates reduced by 12.8%; markets open end March- TCC - The Maravi Post: "LILONGWE-(MaraviPost)-The Tobacco Control Commission (TCC) says the first round of crop [tobacco] assessment has been reduced by 12.8 percent below trade requirement.

This is against tobacco buyers’ need of 171 million kilogram for 2018 marketing season for the all kinds of tobacco.

The reduction has been necessitated by the prolonged dry spells affecting some districts in the southern and central region."



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Egenco shifts gensets arrival dates again - The Nation Online

Egenco shifts gensets arrival dates again - The Nation Online:

Egenco shifts gensets arrival dates 
again 
 Joseph Mwale O February 8, 2018 o Comments 
 The Electricity Generation Company (Egenco) says the 30 megawatts (MW) generators it initially 
 indicated would arrive in the country from China in early February will now be here in March and 





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Banks’ liquidity declines | The Times Group

Banks’ liquidity declines | The Times Group:

Banks' liquidity declines 
 Posted By: William Kumwembe on: February 08, 2018 In: Business No Comments 
 Liquidity levels in commercial banks decreased in January 2018 to K5.89 billion per day from 
 K6.43 billion in December 2017, according to figures compiled by Nico Asset Managers. 
 This means that, in the month under review, some commercial banks might have struggled with 
 funds to lend out to customers. 
 And market analysts feel a continued drop in liquidity levels in the near future would pose a threat 
 to interest rates. 
 A report from Nico Asset Managers shows that interbank borrowing, which is borrowing between 
 commercial banks, averaged K9.24 billion per day in January 2018 at an average rate of 14.95 
 percent. 





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Kwacha’s mixed fortunes | The Times Group

Kwacha’s mixed fortunes | The Times Group:



Kwacha's mixed fortunes

Posted By: Taonga Sabola on: February 08, 2018 In: Business No Comments

The Kwacha has marginally weakened against the British pound and the South African rand over

the past two months despite being steady against the United States dollar, The Daily Times has

established.

The kwacha weakened by 3.5 percent against the pound from K990 on December 4, and was

recorded at Kl ,025 on Tuesday, better than the Kl ,037 seen on Monday.

This should be a cause of concern for international students paying their examination and

registration fees in pounds as they will have to cough more kwacha. On the other hand, this

should bring some joy to businesses which export their merchandise to the UK, as they will earn

more kwacha.





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Roads Authority revenue at K34 billion | The Times Group

Roads Authority revenue at K34 billion | The Times Group:



Roads Authority revenue at K34 billion

Posted By: Caroline Kandiero on: February 07, 2018 In: Business No Comments

Following the public sector reforms instituted by the government in 2015, the Roads Fund

Administration (RFA) has seen its revenue growing from K 12 billion to K34 billion in 2017.

The government approved four reform areas to be implemented by the RFA.

The year on year revenue growth registered in the 2015/16 financial year grew by 71 percent

while in the 2016/17 revenue increased by 32 percent.





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Roads Authority revenue at K34 billion | The Times Group

Roads Authority revenue at K34 billion | The Times Group:



Roads Authority revenue at K34 billion

Posted By: Caroline Kandiero on: February 07, 2018 In: Business No Comments

Following the public sector reforms instituted by the government in 2015, the Roads Fund

Administration (RFA) has seen its revenue growing from K 12 billion to K34 billion in 2017.

The government approved four reform areas to be implemented by the RFA.

The year on year revenue growth registered in the 2015/16 financial year grew by 71 percent

while in the 2016/17 revenue increased by 32 percent.





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Malawi: IPP issues tender for 40MW solar power plant

Malawi: IPP issues tender for 40MW solar power plant: "Malawi: IPP issues tender for 40MW solar power plant
Malawian-based independent power producer, JCM Matswani Solar Corp, seeks to develop a 40MW solar photovoltaic (PV)project.

The power producer has issued a Request for Expression of Interest, to select EPC contractors for the solar PV project to be located in the Salima District of central Malawi, reports PV magazine.

JCM Matswani is a special purpose vehicle owned by UK provider of project development and funding services for infrastructure projects in sub-Saharan Africa, InfraCo Africa Limited; Canadian-based private equity firm, JCM Power; and South Africa’s Matswani Capital.

JCM Power and InfraCo Africa will provide the development capital to bring the project to financial close.

Matswani Capital, through a separate services agreement, will provide development services to the project in Malawi, the tender’s document "



'via Blog this'

Malawi’s Tourism Industry Enjoying a Transformation

Malawi’s Tourism Industry Enjoying a Transformation: "Malawi’s Tourism Industry Enjoying a Transformation


font size Print Email
Malawi’s tourism industry witnessed a ground-breaking year in 2017, with that growth set to continue this year, according to Malawi Travel Marketing Consortium.

Wildlife transformations are underway with Malawi’s safari experiences now starting to match its other tourism attractions as it emerges as one of Africa’s most complete destinations.

Helping its 2017 growth considerably was the ground-breaking #500Elephants project completed during the year, with it being the largest elephant translocation in human history."



'via Blog this'

Fears over growth, inflation prospects - The Nation Online

Fears over growth, inflation prospects - The Nation Online:



Fears over growth, inflation prospects

Orama Chinamulungu O February 5, 2018 o Comments

The combined effects of dry spells and armyvvorms attack could thwart this fiscal year's growth

prospects and inflation rate target, experts have warned.

In an interview on Thursday, Lilongwe University of Agriculture and Natural Resources (Luanar)

agricultural and applied economics senior lecturer Alex Phiri believes the current situation may

undermine food output and overall economic growth.

He said: "Even without doing a detailed analysis or crop assessment in the fields, you can

actually see that most crops are not doing well due to dry spells as well as the fall armyworms.





'via Blog this'

Malawi signs financing agreements with Word Bank | Malawi Nyasa Times - Malawi breaking news in Malawi

Malawi signs financing agreements with Word Bank | Malawi Nyasa Times - Malawi breaking news in Malawi: "Malawi signs financing agreements with Word Bank
February 2, 2018 Moses Nyirenda -Maba Be the first to comment
Malawi government has signed financing agreements aimed to enhance the Shire Valley Transformation Programme and Agriculture Commercialization Project in the country."



'via Blog this'

Malawi optimistic on new IMF programme - The Nation Online

Malawi optimistic on new IMF programme - The Nation Online:



Malawi optimistic on new IMF

programme

Orama Chinamulungu O February 2, 2018 o Comments

Fiscal authorities say they are optimistic of a new programme with the International Monetary

Fund (IMF), whose mission is on a two-week mission in the country since Tuesday.

In an interview yesterday, Treasury spokesperson Davis Sado believes the IMF mission has come

at the right time when most of the economic indicators are positive.

He said the structure of the new programme and its focus will be agreed upon after a thorough

analysis.





'via Blog this'

Demand for loans surges | The Times Group

Demand for loans surges | The Times Group:



Demand for loans surges

Posted By: Taonga Sabola on: February 02, 2018 In: Business No Comments

The latest bank lending survey released by the Reserve Bank of Malawi (RBM) has shown that

demand for loans continues to surge, propelled by increased borrowing by large enterprises.

According to a survey conducted between April and September 2017, the majority of banks

reported an increase in loans demanded by large enterprises whilst demand for loans by

household and small and Small and Medium Enterprise (SMEs) largely remained unchanged over

the survey period.

Most banks, according to the survey findings, revealed that inventories and working capital were

the major contributing factors for the increase in demand for loans by large enterprises.

Results of the survey have revealed that most banks reported that both new and existing

customers continued to contribute to the increase in demand for loans.





'via Blog this'

New initiative pushes up rice output in Machinga - The Nation Online

New initiative pushes up rice output in Machinga - The Nation Online:



New initiative pushes up rice output in

Machinga

Malawi News Agency O January 30, 2018

The African Institute of Corporate Citizenship (Aicc), an institution that promotes the role of

business in development, has touted the introduction of system of rice intensification (SRI) in

Machinga District to increase the crop's output.

SRI involves the transplanting of young seedlings raised in an unflooded nursery and

transplanting them in shallow soils with one seed per planting station.





'via Blog this'

MITC upbeat on 3 projects - The Nation Online

MITC upbeat on 3 projects - The Nation Online:



MITC upbeat on 3 projects

Christopher Jimu O January 29, 2018

Ahead of the third Malawi Investment Forum (MIF) in June this year, Malawi Investment and

Trade Centre (Mitc)—a one-stop investment centre—has outlined three projects to roll out this

year.

The projects, according to Mitc spokesperson Deliby Chimbalu, are the construction of Lilongwe

Grand Business Park and five-star hotel along the Lilongwe West Bypass Road, the fertiliser

project between Nkhotakota-based Mtalimanja Holdings Limited and an Indian investor and

construction of 2 500 housing units in Lilongvve, Blantyre and Mzuzu by South African investor

Nedebe Group, a company that focuses on infrastructure and property development.





'via Blog this'

Firm invests K18bn in cooking oil plant - The Nation Online

Firm invests K18bn in cooking oil plant - The Nation Online:

Firm invests K18bn in cooking oil plant

Christopher Jimu O January 30, 2018 

A new firm, Mount Meru Millers, has invested $25 million (about K18 billion) to set up a cooking

oil factory, creating 250 jobs in Dowa District.

The plant, located at Mgubo Village near Lumbadzi Trading Centre, is the fifth factory the

company has opened in sub-Saharan Africa with others in Rwanda, Tanzania, Zambia and

Uganda.





'via Blog this'

Cotton spared from dry spell impact—Aicc - The Nation Online

Cotton spared from dry spell impact—Aicc - The Nation Online:



Cotton spared from dry spell impact—

Aicc

Orama Chinamulungu O February 1, 2018 o Comments

While output of other crops will be affected by dry spells that have hit some parts of the country,

players in the cotton sector say there will be little or no impact at all on the crop.

For the past few weeks, the country has received little or no rain in some of the parts, a

development expected to impact output of maize, tobacco and other crops.

But African Institute of Corporate Citizenship (Aicc) chief executive officer Felix Lombe said on

Tuesday that the likely damage to the cotton crop as per their assessment is not significant.





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Sunbird plans to construct hotel | The Times Group

Sunbird plans to construct hotel | The Times Group:





Posted By: Taonga Sabola on: February 01, 2018

Malawi Stock Exchange-listed hospitality chain, Sunbird Tourism PLC, has disclosed plans to

construct a 100-bedroom three-star hotel in Salima. The development will bring the number of Sunbird hotels in Salima District to two after Sunbird

Livingstonia.

Sunbird Board Chairman, Phillip Madinga, has said that the Salima lakeshore is accessible from

all parts of the country through tarred roads.

Madinga said, for a long time, there has been high demand for quality hotel facilities, mainly driven

by both leisure and business segments, from the source market of Lilongwe as well as the

Southern Regiom

•As a result, Sunbird PLC has embarked on a project to construct a new three-star hotel in a

phased manner to strengthen the company's competitiveness," Madinga said.

He said the new hotel "ill also have a 300-seater conference hall, health club, spa, swimming

l, shops and other guest facilities designed to offer a unique experience to both local and

International guests





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