Malawi’s domestic debt likely to quadruple amid falling public revenues: "Lilongwe — Malawi’s domestic debt is likely to more than quadruple in the next financial year as the government tries to cover falling public revenues, the finance minister said on Tuesday.
Goodall Gondwe told parliament the government planned to borrow 176-billion kwacha ($246m) in the financial year starting in July, up from 30.7-billion kwacha in 2017-18.
Government revenues have been hit by a 45-billion kwacha bailout of state-run Agricultural Development and Marketing Corporation, as well as low revenue collection and the failure to receive 55-billion kwacha in grants from donors, he said.
Western donors have suspended aid to Malawi over graft allegations."
'via Blog this'
Business and Economic News from Malawi
Thursday, May 31, 2018
Mozambique: CDN Surpasses Its Target for Goods Transport - allAfrica.com
Mozambique: CDN Surpasses Its Target for Goods Transport - allAfrica.com: "More
RELATED TOPICS
Business
Kenya: Cabinet Secretary Spills Beans on Maize Scandal
Ethiopia: Mining Company Seeks Quick Investigation On Suspended Gold Mine Site
Uganda: How to Die On The Country's Roads - A Guide
Uganda: MPs Okay Controversial Taxes On Mobile Money, Social Media
Mozambique
Mozambique: Police Confirm Decapitation of Ten Villagers
Mozambique: PM Calls for Greater Contribution By Tourism to GDP
Mozambique: Nyusi Discusses Conservation With Congressmen
Africa: Mozambique Win, Seychelles Hold Madagascar in Group A
Southern Africa
Africa: 'It's a Big World, Everyone Shits, and Everyone Needs a Toilet'
Zimbabwe: Opposition's Chamisa to President Kagame - You Can't Remember Everything
South Africa: How the SKA Telescope Is Boosting South Africa's Knowledge Economy
Zimbabwe: Opposition Says Voters' Roll Has Suspicious 100-Year-Olds
Transport
Kenya: Nairobi Proposes Two Car-Free Days to Decongest City
South Africa: Voice Note Warnings of Taxi Violence Not From Drivers or Owners, Say Cape Town Bosses
Rwanda: Rwanda's Safe-Flight Policy Gets Global Approval
Gambia: Barrow Government Committed to Banjul Port Development
Maputo — About 100,000 tonnes of cargo were transported in the first quarter of this year by the Northern Development Corridor (CDN), which operates the Mozambican port of Nacala, and the railway which runs from Nacala across Nampula and Niassa provinces to the Malawian border."
'via Blog this'
RELATED TOPICS
Business
Kenya: Cabinet Secretary Spills Beans on Maize Scandal
Ethiopia: Mining Company Seeks Quick Investigation On Suspended Gold Mine Site
Uganda: How to Die On The Country's Roads - A Guide
Uganda: MPs Okay Controversial Taxes On Mobile Money, Social Media
Mozambique
Mozambique: Police Confirm Decapitation of Ten Villagers
Mozambique: PM Calls for Greater Contribution By Tourism to GDP
Mozambique: Nyusi Discusses Conservation With Congressmen
Africa: Mozambique Win, Seychelles Hold Madagascar in Group A
Southern Africa
Africa: 'It's a Big World, Everyone Shits, and Everyone Needs a Toilet'
Zimbabwe: Opposition's Chamisa to President Kagame - You Can't Remember Everything
South Africa: How the SKA Telescope Is Boosting South Africa's Knowledge Economy
Zimbabwe: Opposition Says Voters' Roll Has Suspicious 100-Year-Olds
Transport
Kenya: Nairobi Proposes Two Car-Free Days to Decongest City
South Africa: Voice Note Warnings of Taxi Violence Not From Drivers or Owners, Say Cape Town Bosses
Rwanda: Rwanda's Safe-Flight Policy Gets Global Approval
Gambia: Barrow Government Committed to Banjul Port Development
Maputo — About 100,000 tonnes of cargo were transported in the first quarter of this year by the Northern Development Corridor (CDN), which operates the Mozambican port of Nacala, and the railway which runs from Nacala across Nampula and Niassa provinces to the Malawian border."
'via Blog this'
Escom squeezed, treasury rebuffs K58bn bail-out plea - The Nation Online
Escom squeezed, treasury rebuffs K58bn bail-out plea - The Nation Online: "Escom squeezed, treasury rebuffs K58bn bail-out plea
Golden Matonga and Eneless Nyale May 31, 2018 0 Comments
Ministry of Finance, Economic Planning and Development has refused to honour a K58 billion financial bail-out request from technically insolvent power utility Electricity Supply Corporation of Malawi (Escom) to enable it provide reliable power supply.
Escom says it found itself in the situation after its split that gave birth to Electricity Generation Company (Egenco) on January 1 2017 as part of Power Market Restructuring Programme aimed at improving efficiency in the market by, among others, having separate power generation and distribution entities."
'via Blog this'
Golden Matonga and Eneless Nyale May 31, 2018 0 Comments
Ministry of Finance, Economic Planning and Development has refused to honour a K58 billion financial bail-out request from technically insolvent power utility Electricity Supply Corporation of Malawi (Escom) to enable it provide reliable power supply.
Escom says it found itself in the situation after its split that gave birth to Electricity Generation Company (Egenco) on January 1 2017 as part of Power Market Restructuring Programme aimed at improving efficiency in the market by, among others, having separate power generation and distribution entities."
'via Blog this'
Wednesday, May 30, 2018
Globe applies for renewal of Kanyika licence in Malawi – Mining & Trade Review | Mining in Malawi
Globe applies for renewal of Kanyika licence in Malawi – Mining & Trade Review | Mining in Malawi: "Globe applies for renewal of Kanyika licence
By Marcel Chimwala
ASX listed Globe Metals and Mining says it has submitted an application for renewal of its Kanyika exclusive prospecting licence (EPL) to the Department of Mines in the Ministry of Natural Resources, Energy and Mining.
Malawi’s cadastral portal indicates that Globe was awarded a 308 square kilometres EPL for Kanyika in Mzimba covering feldspathoids, uranium, niobium, rare earths elements, tantalum and zircon on May 21, 2015 and is pending renewal as it expires on May 20, 2018."
'via Blog this'
By Marcel Chimwala
ASX listed Globe Metals and Mining says it has submitted an application for renewal of its Kanyika exclusive prospecting licence (EPL) to the Department of Mines in the Ministry of Natural Resources, Energy and Mining.
Malawi’s cadastral portal indicates that Globe was awarded a 308 square kilometres EPL for Kanyika in Mzimba covering feldspathoids, uranium, niobium, rare earths elements, tantalum and zircon on May 21, 2015 and is pending renewal as it expires on May 20, 2018."
'via Blog this'
No plans to stop Growing tobacco - The Nation Online
No plans to stop Growing tobacco - The Nation Online: "No plans to stop Growing tobacco
Grace Phiri May 30, 2018 0 Comments
Tobacco Association of Malawi (Tama), a representative body of tobacco farmers, says it has no plans to stop growing the leaf despite government moving towards signing the World Health Organisation Framework Convention on Tobacco Control (WHO-FCTC).
FCTC, which entered into force on February 27 2005, is the first treaty negotiated under WHO to protect present and future generations from devastating heath, social, environmental and economic consequences of tobacco consumption and exposure to tobacco smoke."
'via Blog this'
Grace Phiri May 30, 2018 0 Comments
Tobacco Association of Malawi (Tama), a representative body of tobacco farmers, says it has no plans to stop growing the leaf despite government moving towards signing the World Health Organisation Framework Convention on Tobacco Control (WHO-FCTC).
FCTC, which entered into force on February 27 2005, is the first treaty negotiated under WHO to protect present and future generations from devastating heath, social, environmental and economic consequences of tobacco consumption and exposure to tobacco smoke."
'via Blog this'
Malawi setting up K250 million leather design studio | The Times Group
Malawi setting up K250 million leather design studio | The Times Group: "Malawi setting up K250 million leather design studio
Posted By: Caroline Kandieroon: May 30, 2018In: BusinessNo Comments
Government is in the process of setting up a K250 million state-of-the-art leather design studio which will be used to produce leather materials.
The studio is being constructed with funding from the European Union through the Malawi Enterprise Productivity Enhancement (Mepe) project under the Ministry of Industry, Trade and Tourism.
Mepe project is under the Common Market for Eastern and Southern Africa (Comesa) Regional Integration Support Mechanism initiative."
'via Blog this'
Posted By: Caroline Kandieroon: May 30, 2018In: BusinessNo Comments
Government is in the process of setting up a K250 million state-of-the-art leather design studio which will be used to produce leather materials.
The studio is being constructed with funding from the European Union through the Malawi Enterprise Productivity Enhancement (Mepe) project under the Ministry of Industry, Trade and Tourism.
Mepe project is under the Common Market for Eastern and Southern Africa (Comesa) Regional Integration Support Mechanism initiative."
'via Blog this'
Monday, May 28, 2018
MCA-M contractors in north miss deadline - The Nation Online
MCA-M contractors in north miss deadline - The Nation Online: → MCA-M contractors in north miss deadline
MCA-M contractors in north miss deadline
Martha Chirambo May 28, 2018 0 Comments
Contractors working on the $350.7 million (K261 billion) Millennium Challenge Corporation (MCC) energy compact-funded projects in the Northern Region have missed deadlines in their works.
During a tour organised last week by Millennium Challenges Account Malawi (MCA-M), the local implementing agency, it was observed that all the contractors have missed the April 2018 deadline.
The works, which were supposed to be finalised in April, have been extended to September."
'via Blog this'
MCA-M contractors in north miss deadline
Martha Chirambo May 28, 2018 0 Comments
Contractors working on the $350.7 million (K261 billion) Millennium Challenge Corporation (MCC) energy compact-funded projects in the Northern Region have missed deadlines in their works.
During a tour organised last week by Millennium Challenges Account Malawi (MCA-M), the local implementing agency, it was observed that all the contractors have missed the April 2018 deadline.
The works, which were supposed to be finalised in April, have been extended to September."
'via Blog this'
Japanese Govt pledges supporting Malawi's agricultural and industrial sectors growth - The Maravi Post
Japanese Govt pledges supporting Malawi's agricultural and industrial sectors growth - The Maravi Post: "BLANTYRE-(MaraviPost)-Japanese ambassador on Sunday revealed that his country will continue supporting the Malawi government through agriculture and in industrial sector as to help end challenges affecting those sectors.
Ambassador of Japanese in the country, Kae Yanagisawa, disclosed this in an interview when he visited the trade fair grounds in Blantyre to see services and products of local and international companies which they are exhibiting.
According to Yanagisawa, said she was impressed with how both government and private sector are doing at the fair saying it shows unity amongst companies in the country.
"
'via Blog this'
Ambassador of Japanese in the country, Kae Yanagisawa, disclosed this in an interview when he visited the trade fair grounds in Blantyre to see services and products of local and international companies which they are exhibiting.
According to Yanagisawa, said she was impressed with how both government and private sector are doing at the fair saying it shows unity amongst companies in the country.
"
'via Blog this'
Saturday, May 26, 2018
PCL’s 10% acquisition in Sunbird, boon for shareholders—Analyst - The Nation Online
PCL’s 10% acquisition in Sunbird, boon for shareholders—Analyst - The Nation Online: "YOU ARE HERE: Home → PCL’s 10% acquisition in Sunbird, boon for shareholders—Analyst
PCL’s 10% acquisition in Sunbird, boon for shareholders—Analyst
Orama Chiphwanya May 25, 2018 0 Comments
Local investment analyst Armstrong Kamphoni has described the Press Corporation Limited (PCL) recent acquisition of 10 percent stake in Sunbird Tourism plc as good for the shareholders of the company as well as the country’s tourism sector.
PCL last week announced it has acquired a 10 percent stake in Sunbird Tourism plc, extending its investment interests into the tourism sector."
'via Blog this'
PCL’s 10% acquisition in Sunbird, boon for shareholders—Analyst
Orama Chiphwanya May 25, 2018 0 Comments
Local investment analyst Armstrong Kamphoni has described the Press Corporation Limited (PCL) recent acquisition of 10 percent stake in Sunbird Tourism plc as good for the shareholders of the company as well as the country’s tourism sector.
PCL last week announced it has acquired a 10 percent stake in Sunbird Tourism plc, extending its investment interests into the tourism sector."
'via Blog this'
Comment
The Malawi Financial Mirror is basically a nonpartisan blog reporting on economic news on Malawi from all available electronic sources. However, from time we will run comments to assist our readers navigate the confusing presentations and interpretations of news by our media, NGOs and political actors. We welcome brief and up-o the-point comments from our readers
Govt to lose millions in oil deals—Oxfam report - The Nation Online
Govt to lose millions in oil deals—Oxfam report - The Nation Online: "YOU ARE HERE: Home → Govt to lose millions in oil deals—Oxfam report
Govt to lose millions in oil deals—Oxfam report
Golden Matonga May 26, 2018 1 Comment
Government could lose up to $112 million (K82 billion) in revenue if the country commences oil production under the current production sharing agreements (PSAs) with foreign companies, a new Oxfam report has stated.
The analysis of the fiscal terms in the oil contracts done by Oxfam, through a consortium of international economic and oil industry consultants, is based on assumptions on provisions in the contracts which allow companies to pay less taxes as the oil blocks make more profit.
"
'via Blog this'
Govt to lose millions in oil deals—Oxfam report
Golden Matonga May 26, 2018 1 Comment
Government could lose up to $112 million (K82 billion) in revenue if the country commences oil production under the current production sharing agreements (PSAs) with foreign companies, a new Oxfam report has stated.
The analysis of the fiscal terms in the oil contracts done by Oxfam, through a consortium of international economic and oil industry consultants, is based on assumptions on provisions in the contracts which allow companies to pay less taxes as the oil blocks make more profit.
"
'via Blog this'
Thursday, May 24, 2018
Malawi Investment Forum targets 800 delegates | The Times Group
Malawi Investment Forum targets 800 delegates | The Times Group: "Malawi Investment Forum targets 800 delegates
Posted By: Caroline Kandieroon: May 24, 2018In: BusinessNo Comments
As the countdown to the 2018 Malawi Investment Forum (MIF) continues, the Malawi Investment and Trade Centre (Mitc) has said it expects the event to attract 800 delegates.
Mitc Public Relations Manager, Deliby Chimbalu, said, so far, 300 delegates have confirmed their participation at the MIF slated for June 11 and and 12 at the Bingu International Convention Centre in Lilongwe..
Chimbalu said Mitc is working with Malawi foreign missions to woo more delegates to attend the event."
'via Blog this'
Posted By: Caroline Kandieroon: May 24, 2018In: BusinessNo Comments
As the countdown to the 2018 Malawi Investment Forum (MIF) continues, the Malawi Investment and Trade Centre (Mitc) has said it expects the event to attract 800 delegates.
Mitc Public Relations Manager, Deliby Chimbalu, said, so far, 300 delegates have confirmed their participation at the MIF slated for June 11 and and 12 at the Bingu International Convention Centre in Lilongwe..
Chimbalu said Mitc is working with Malawi foreign missions to woo more delegates to attend the event."
'via Blog this'
World Bank cautions on energy crisis - The Nation Online
World Bank cautions on energy crisis - The Nation Online: "World Bank cautions on energy crisis
Grace Phiri May 24, 2018 0 Comments
The World Bank has warned that the prevailing energy crisis poses a threat to the country’s World Bank Doing Business ranking.
Speaking on the sidelines of Agenda for Doing Business Forum convened by the Ministry of Industry, Trade and Tourism in Blantyre, World Bank senior private sector specialist Efrem Chilima said lack of reforms implementation in the energy sector is costing the success of initiatives which could have improved the energy situation in the country."
'via Blog this'
Grace Phiri May 24, 2018 0 Comments
The World Bank has warned that the prevailing energy crisis poses a threat to the country’s World Bank Doing Business ranking.
Speaking on the sidelines of Agenda for Doing Business Forum convened by the Ministry of Industry, Trade and Tourism in Blantyre, World Bank senior private sector specialist Efrem Chilima said lack of reforms implementation in the energy sector is costing the success of initiatives which could have improved the energy situation in the country."
'via Blog this'
Tobacco earnings hit $79 million | The Times Group
Tobacco earnings hit $79 million | The Times Group: "Tobacco earnings hit $79 million
Posted By: Chimwemwe Mangazion: May 22, 2018In: BusinessNo Comments
The country’s green gold, tobacco, has earned $78.9 million, since the tobacco marketing season opened six weeks ago.
According to AHL Group statistics, the country has sold 49,739,858 kilogrammes (kg) of tobacco, at an average price of $1.59 per kg.
Commenting on the sales, AHL Group Corporate Affairs Manager, Mark Ndipita, said even though some of the tobacco is being rejected, the levels are not alarming.
He said the rejection rate is recorded at 23 percent."
'via Blog this'
Posted By: Chimwemwe Mangazion: May 22, 2018In: BusinessNo Comments
The country’s green gold, tobacco, has earned $78.9 million, since the tobacco marketing season opened six weeks ago.
According to AHL Group statistics, the country has sold 49,739,858 kilogrammes (kg) of tobacco, at an average price of $1.59 per kg.
Commenting on the sales, AHL Group Corporate Affairs Manager, Mark Ndipita, said even though some of the tobacco is being rejected, the levels are not alarming.
He said the rejection rate is recorded at 23 percent."
'via Blog this'
Blackouts threaten Malawi’s top 100 dream | The Times Group
Blackouts threaten Malawi’s top 100 dream | The Times Group: "Blackouts threaten Malawi’s top 100 dream
Posted By: Caroline Kandieroon: May 23, 2018In: BusinessNo Comments
Malawi’s dream of breaking into the top 100 economies on the World Bank Doing Business Index is likely to be shuttered by continued energy challenges, the Bretton Woods institution has said.
The 2018 World Bank Doing Business Report put Malawi on position 110 out of 190 economies, raising hopes that the country would soon break into the top 100 rankings.
Speaking in Blantyre on Monday on the sidelines of a Doing Business Forum, organised by Ministry of Industry, Trade and Tourism, World Bank Senior Private Sector Specialist, Efrem Chilima, said Capital Hill should be swift in addressing the energy challenges."
'via Blog this'
Posted By: Caroline Kandieroon: May 23, 2018In: BusinessNo Comments
Malawi’s dream of breaking into the top 100 economies on the World Bank Doing Business Index is likely to be shuttered by continued energy challenges, the Bretton Woods institution has said.
The 2018 World Bank Doing Business Report put Malawi on position 110 out of 190 economies, raising hopes that the country would soon break into the top 100 rankings.
Speaking in Blantyre on Monday on the sidelines of a Doing Business Forum, organised by Ministry of Industry, Trade and Tourism, World Bank Senior Private Sector Specialist, Efrem Chilima, said Capital Hill should be swift in addressing the energy challenges."
'via Blog this'
Malawi International Trade Fair Starts May 24
Malawi International Trade Fair Starts May 24: "At least 208 exhibitors have confirmed participation at the 30th Malawi International Trade Fair set to run from May 24th to 3rd June.
Briefing journalists in Blantyre, Head of Communications at the Malawi Confederation of Chambers of Commerce and Industry (MCCCI), Millie Kasunda, said the Chamber anticipates more companies to register before the deadline on May 11."
'via Blog this'
Briefing journalists in Blantyre, Head of Communications at the Malawi Confederation of Chambers of Commerce and Industry (MCCCI), Millie Kasunda, said the Chamber anticipates more companies to register before the deadline on May 11."
'via Blog this'
Malawi News Agency Online - K14.6 billion new Mzuzu Airport awaits compensation
Malawi News Agency Online - K14.6 billion new Mzuzu Airport awaits compensation: "nternational Airport at Lusangazi in the city, government is yet to offer land for relocation of people who are currently occupying the designated area for the new airport.
Speaking Monday in an interview with Malawi News Agency (Mana), Public Relations Officer (PRO) for the Ministry of Transport and Public Works, James Chakwera said the ministry is working on issues to do with compensation of the communities who reside within and around the site."
'via Blog this'
Speaking Monday in an interview with Malawi News Agency (Mana), Public Relations Officer (PRO) for the Ministry of Transport and Public Works, James Chakwera said the ministry is working on issues to do with compensation of the communities who reside within and around the site."
'via Blog this'
Tuesday, May 22, 2018
IMF says 2018/19 budget Fair on projections - The Nation Online
IMF says 2018/19 budget Fair on projections - The Nation Online: "YOU ARE HERE: Home → IMF says 2018/19 budget Fair on projections
IMF says 2018/19 budget Fair on projections
Grace Phiri May 21, 2018 0 Comments
The International Monetary Fund (IMF) has rated the realism of the 2018/19 National Budget fairly high for its continuity of programmes and modest revenue assumptions.
In a written response to a questionnaire on Saturday in reaction to the fiscal plan presented by Minister of Finance, Economic Planning and Development Goodall Gondwe in Lilongwe on Friday, IMF resident representative Jack Ree observed that while the budget promises wage increases to civil servants, the increase could have been much higher in the face of the 2019 Tripartite Elections as is the case in many regional peer countries facing elections.
"
'via Blog this'
IMF says 2018/19 budget Fair on projections
Grace Phiri May 21, 2018 0 Comments
The International Monetary Fund (IMF) has rated the realism of the 2018/19 National Budget fairly high for its continuity of programmes and modest revenue assumptions.
In a written response to a questionnaire on Saturday in reaction to the fiscal plan presented by Minister of Finance, Economic Planning and Development Goodall Gondwe in Lilongwe on Friday, IMF resident representative Jack Ree observed that while the budget promises wage increases to civil servants, the increase could have been much higher in the face of the 2019 Tripartite Elections as is the case in many regional peer countries facing elections.
"
'via Blog this'
Tobacco earnings hit $79 million | The Times Group
Tobacco earnings hit $79 million | The Times Group: "Tobacco earnings hit $79 million
Posted By: Chimwemwe Mangazion: May 22, 2018In: BusinessNo Comments
The country’s green gold, tobacco, has earned $78.9 million, since the tobacco marketing season opened six weeks ago.
According to AHL Group statistics, the country has sold 49,739,858 kilogrammes (kg) of tobacco, at an average price of $1.59 per kg.
Commenting on the sales, AHL Group Corporate Affairs Manager, Mark Ndipita, said even though some of the tobacco is being rejected, the levels are not alarming."
'via Blog this'
Posted By: Chimwemwe Mangazion: May 22, 2018In: BusinessNo Comments
The country’s green gold, tobacco, has earned $78.9 million, since the tobacco marketing season opened six weeks ago.
According to AHL Group statistics, the country has sold 49,739,858 kilogrammes (kg) of tobacco, at an average price of $1.59 per kg.
Commenting on the sales, AHL Group Corporate Affairs Manager, Mark Ndipita, said even though some of the tobacco is being rejected, the levels are not alarming."
'via Blog this'
New laws to improve tobacco industry | The Times Group
New laws to improve tobacco industry | The Times Group: "New laws to improve tobacco industry
Posted By: Caroline Kandieroon: May 22, 2018In: BusinessNo Comments
Minister of Agriculture, Joseph Mwanamvekha, has said new tobacco laws, expected to be tabled to Parliament soon, would help bring sanity in the industry.
The laws include the new Tobacco Act and the Control of Tobacco Auction Floors Act and are likely to be presented for review during the current meeting of Parliament.
In an interview on Sunday, Mwanamvekha said the laws would ensure that farmers, in particular, and the economy at large continue to realise more benefits from the green gold."
'via Blog this'
Posted By: Caroline Kandieroon: May 22, 2018In: BusinessNo Comments
Minister of Agriculture, Joseph Mwanamvekha, has said new tobacco laws, expected to be tabled to Parliament soon, would help bring sanity in the industry.
The laws include the new Tobacco Act and the Control of Tobacco Auction Floors Act and are likely to be presented for review during the current meeting of Parliament.
In an interview on Sunday, Mwanamvekha said the laws would ensure that farmers, in particular, and the economy at large continue to realise more benefits from the green gold."
'via Blog this'
Phalombe communities count on Mkango mining | The Times Group
Phalombe communities count on Mkango mining | The Times Group: "Phalombe communities count on Mkango mining
Posted By: Caroline Kandieroon: May 22, 2018In: BusinessNo Comments
Communities around Songwe Hill in Phalombe District have said they are hopeful that they will benefit from the prospective Rare Earth mining by dual-listed Mkango Resources Limited.
The Canadian mining firm is exploring Rare Earth at Songwe Hills in Phalombe and Thambani in Neno, a project which, it said, is at an advanced stage."
'via Blog this'
Posted By: Caroline Kandieroon: May 22, 2018In: BusinessNo Comments
Communities around Songwe Hill in Phalombe District have said they are hopeful that they will benefit from the prospective Rare Earth mining by dual-listed Mkango Resources Limited.
The Canadian mining firm is exploring Rare Earth at Songwe Hills in Phalombe and Thambani in Neno, a project which, it said, is at an advanced stage."
'via Blog this'
Government silence on energy investment worries Ecama | The Times Group
Government silence on energy investment worries Ecama | The Times Group: "Government silence on energy investment worries Ecama
Posted By: Caroline Kandieroon: May 22, 2018In: BusinessNo Comments
The Economics Association of Malawi (Ecama) has described as a setback the absence of direct investment into the energy sector in the 2018/19 national budget.
In his budget statement presented to Parliament on Friday, Finance Minister Goodall Gondwe conceded that intermittent power supply is one of the challenges negatively affecting private sector activities."
'via Blog this'
Posted By: Caroline Kandieroon: May 22, 2018In: BusinessNo Comments
The Economics Association of Malawi (Ecama) has described as a setback the absence of direct investment into the energy sector in the 2018/19 national budget.
In his budget statement presented to Parliament on Friday, Finance Minister Goodall Gondwe conceded that intermittent power supply is one of the challenges negatively affecting private sector activities."
'via Blog this'
Monday, May 21, 2018
Malawi GDP to grow 4.1 pct this year - finance minister
CORRECTED-(OFFICIAL)-Malawi GDP to grow 4.1 pct this year - finance minister: "LILONGWE, May 18 (Reuters) - Malawi’s economy is expected to grow 4.1 percent in 2018, supported by more infrastructure investment and social spending, Finance Minister Goodall Gondwe said in a budget speech on Friday.
The growth forecast compares with 5.1 percent in 2017. (Reporting by Mabvuto Banda Editing by Ed Cropley)"
'via Blog this'
The growth forecast compares with 5.1 percent in 2017. (Reporting by Mabvuto Banda Editing by Ed Cropley)"
'via Blog this'
ILO hails Luanar for child labour fight initiative - The Nation Online
ILO hails Luanar for child labour fight initiative - The Nation Online: "ILO hails Luanar for child labour fight initiative
Andrew Nyondo May 21, 2018 0 Comments
The International Labour Organisation (ILO)has commended Lilongwe University of Agriculture and Natural Resources (Luanar) for including child labour issues in its programmes to end the practice in the country.
In an interview on Friday, ILO national project coordinator Patrick Makondetsa observed that the initiative will help Malawians understand how child labour can be prevented."
'via Blog this'
Andrew Nyondo May 21, 2018 0 Comments
The International Labour Organisation (ILO)has commended Lilongwe University of Agriculture and Natural Resources (Luanar) for including child labour issues in its programmes to end the practice in the country.
In an interview on Friday, ILO national project coordinator Patrick Makondetsa observed that the initiative will help Malawians understand how child labour can be prevented."
'via Blog this'
Mkango Resources signs definitive agreement to develop Songwe Hill licence
Mkango Resources signs definitive agreement to develop Songwe Hill licence: "Mkango Resources signs definitive agreement to develop Songwe Hill licence
Share
14:40 18 May 2018
Will Dawes, chief executive of Mkango Resources Ltd (LON:MKA), tells Proactive Investors they've signed off their agreement with trading group Noble to develop the Songwe Hill licence in Malawi.
Talaxis, a subsidiary of Noble, will acquire up to 75% of Lancaster Exploration, which holds the licence, and up to 49% of Maginito, a downstream rare earths business."
'via Blog this'
Share
14:40 18 May 2018
Will Dawes, chief executive of Mkango Resources Ltd (LON:MKA), tells Proactive Investors they've signed off their agreement with trading group Noble to develop the Songwe Hill licence in Malawi.
Talaxis, a subsidiary of Noble, will acquire up to 75% of Lancaster Exploration, which holds the licence, and up to 49% of Maginito, a downstream rare earths business."
'via Blog this'
DARK AGE CONTINUES - The Express
DARK AGE CONTINUES - The Express: "ELECTRICITY consumers in Malawi will continue to be subjected to a daily life of prolonged power cuts for the next four years.
National energy supplier, Electricity Supply Corporation of Malawi, Escom, conceded that it will continue failing to supply electrical energy constantly.
In a statement,the tax payers funded company, explained that power challenge is likely to be history by 2022."
'via Blog this'
National energy supplier, Electricity Supply Corporation of Malawi, Escom, conceded that it will continue failing to supply electrical energy constantly.
In a statement,the tax payers funded company, explained that power challenge is likely to be history by 2022."
'via Blog this'
IMF says 2018/19 budget Fair on projections - The Nation Online
IMF says 2018/19 budget Fair on projections - The Nation Online: "IMF says 2018/19 budget Fair on projections
Grace Phiri May 21, 2018 0 Comments
The International Monetary Fund (IMF) has rated the realism of the 2018/19 National Budget fairly high for its continuity of programmes and modest revenue assumptions.
In a written response to a questionnaire on Saturday in reaction to the fiscal plan presented by Minister of Finance, Economic Planning and Development Goodall Gondwe in Lilongwe on Friday, IMF resident representative Jack Ree observed that while the budget promises wage increases to civil servants, the increase could have been much higher in the face of the 2019 Tripartite Elections as is the case in many regional peer countries facing elections."
'via Blog this'
Grace Phiri May 21, 2018 0 Comments
The International Monetary Fund (IMF) has rated the realism of the 2018/19 National Budget fairly high for its continuity of programmes and modest revenue assumptions.
In a written response to a questionnaire on Saturday in reaction to the fiscal plan presented by Minister of Finance, Economic Planning and Development Goodall Gondwe in Lilongwe on Friday, IMF resident representative Jack Ree observed that while the budget promises wage increases to civil servants, the increase could have been much higher in the face of the 2019 Tripartite Elections as is the case in many regional peer countries facing elections."
'via Blog this'
Saturday, May 19, 2018
Donors disagree with Goodall on budget support, corruption - The Nation Online
Donors disagree with Goodall on budget support, corruption - The Nation Online: "Donors disagree with Goodall on budget support, corruption
Suzgo Chitete May 19, 2018 0 Comments
As the 2017/18 National Budget paints a rosy picture of donor-come back for direct budget support due to improved public financial management, major donors have expressed concern with widespread corruption in the public service.
The donors were reacting to the budget statement presented in the august House in Lilongwe by Finance Minister Goodall Gondwe yesterday."
'via Blog this'
Suzgo Chitete May 19, 2018 0 Comments
As the 2017/18 National Budget paints a rosy picture of donor-come back for direct budget support due to improved public financial management, major donors have expressed concern with widespread corruption in the public service.
The donors were reacting to the budget statement presented in the august House in Lilongwe by Finance Minister Goodall Gondwe yesterday."
'via Blog this'
EU says Malawi yet to qualify for budget support | Malawi 24 - Malawi news
EU says Malawi yet to qualify for budget support | Malawi 24 - Malawi news: "EU says Malawi yet to qualify for budget support 0
BY MALAWI24 REPORTER ON MAY 19, 2018 POLITICS
The European Union (EU) says there are various measures that Malawi government need to take for the organisation to resume budgetary support.
Head of delegation to Malawi Marchel Gerrmann said this when reacting to the budget statement delivered by Minister of Finance Goodall Gondwe on Friday."
'via Blog this'
BY MALAWI24 REPORTER ON MAY 19, 2018 POLITICS
The European Union (EU) says there are various measures that Malawi government need to take for the organisation to resume budgetary support.
Head of delegation to Malawi Marchel Gerrmann said this when reacting to the budget statement delivered by Minister of Finance Goodall Gondwe on Friday."
'via Blog this'
Friday, May 18, 2018
UPDATE 1-Malawi says World Bank, EU to unlock suspended budget aid | Reuters
UPDATE 1-Malawi says World Bank, EU to unlock suspended budget aid | Reuters: "UPDATE 1-Malawi says World Bank, EU to unlock suspended budget aid
Reuters Staff
2 MIN READ
LILONGWE, May 18 (Reuters) - Malawi’s finance minister said on Friday that economic stability would unlock budget support from the country’s western donors which had been suspended over graft allegations.
Finance Minister Goodall Gondwe said that the county had achieved economic stability and attained the desired goal of the International Monetary Fund’s approval of a $112.3 million loan which in turn has helped unlock frozen aid."
'via Blog this'
Reuters Staff
2 MIN READ
LILONGWE, May 18 (Reuters) - Malawi’s finance minister said on Friday that economic stability would unlock budget support from the country’s western donors which had been suspended over graft allegations.
Finance Minister Goodall Gondwe said that the county had achieved economic stability and attained the desired goal of the International Monetary Fund’s approval of a $112.3 million loan which in turn has helped unlock frozen aid."
'via Blog this'
‘BUDGET FAVOURS CHIEFS’ – PVT SECTOR - The Express
‘BUDGET FAVOURS CHIEFS’ – PVT SECTOR - The Express: "THE PRIVATE sector in Malawi is describing the K1.5 trillion proposed national budget presented by finance minister, Goodall Gondwe as a total neglect of the sector and a waste of time.
Head of the sector in Malawi, Chancellor Kaferapanjira reacted immediately after Gondwe presented the budget in parliament this afternoon in the capital, Lilongwe.
An extremely disheartened Kaferapanjira summarised the proposed national expenditure as: “a budget for chiefs.”"
'via Blog this'
Head of the sector in Malawi, Chancellor Kaferapanjira reacted immediately after Gondwe presented the budget in parliament this afternoon in the capital, Lilongwe.
An extremely disheartened Kaferapanjira summarised the proposed national expenditure as: “a budget for chiefs.”"
'via Blog this'
Chikwawa cane cutters strike over low wages - The Nation Online
Chikwawa cane cutters strike over low wages - The Nation Online: "Chikwawa cane cutters strike over low wages
Steve Chirombo May 18, 2018 0 Comments
There was commotion on Wednesday in Chief Lundu’s area in Chikwawa District when cane cutters burned down part of Illovo Sugar (Malawi) Limited cane fields and blocked the M1 in protest against low wages.
Chikwawa Cane Cutters Contractors spokesperson Louis Kasuzweni said the cane cutters also destroyed their contractors’ offices."
'via Blog this'
Steve Chirombo May 18, 2018 0 Comments
There was commotion on Wednesday in Chief Lundu’s area in Chikwawa District when cane cutters burned down part of Illovo Sugar (Malawi) Limited cane fields and blocked the M1 in protest against low wages.
Chikwawa Cane Cutters Contractors spokesperson Louis Kasuzweni said the cane cutters also destroyed their contractors’ offices."
'via Blog this'
Escom speaks on extended power outages - The Nation Online
Escom speaks on extended power outages - The Nation Online: "YOU ARE HERE: Home → Escom speaks on extended power outages
Escom speaks on extended power outages
Llyod chitsulo May 18, 2018 0 Comments
The Electricity Supply Corporation of Malawi (Escom) has admitted challenges in power supply to its customers despite the procurement of diesel-powered generators meant to ease outages.
Escom procured the diesel-powered generators from Aggreko, which President Peter Mutharika commissioned in January this year, to reduce load shedding hours to a maximum of six hours per day.
But in a statement issued yesterday, Escom says an increase in the demand for electricity due to the onset of the cold season and the oncoming tobacco processing season has affected power supply even with the presence of gensets."
'via Blog this'
Escom speaks on extended power outages
Llyod chitsulo May 18, 2018 0 Comments
The Electricity Supply Corporation of Malawi (Escom) has admitted challenges in power supply to its customers despite the procurement of diesel-powered generators meant to ease outages.
Escom procured the diesel-powered generators from Aggreko, which President Peter Mutharika commissioned in January this year, to reduce load shedding hours to a maximum of six hours per day.
But in a statement issued yesterday, Escom says an increase in the demand for electricity due to the onset of the cold season and the oncoming tobacco processing season has affected power supply even with the presence of gensets."
'via Blog this'
PCL acquires 10% stake in Sunbird Tourism | The Times Group
PCL acquires 10% stake in Sunbird Tourism | The Times Group: "PCL acquires 10% stake in Sunbird Tourism
Posted By: Times Correspondenton: May 18, 2018In: BusinessNo Comments
Conglomerate Press Corporation Limited (PCL) plc has acquired a 10 percent stake in Sunbird Tourism plc, extending its investment interests into the tourism sector.
PCL Group Chief Executive Officer George Partridge confirmed the acquisition in an interview yesterday.
“Yes it is true that we have acquired a 10 percent shareholding in Sunbird Tourism plc. We have been talking about expanding our investment base to include tourism for some time and we thought this was a good starting point,” Partridge said."
'via Blog this'
Posted By: Times Correspondenton: May 18, 2018In: BusinessNo Comments
Conglomerate Press Corporation Limited (PCL) plc has acquired a 10 percent stake in Sunbird Tourism plc, extending its investment interests into the tourism sector.
PCL Group Chief Executive Officer George Partridge confirmed the acquisition in an interview yesterday.
“Yes it is true that we have acquired a 10 percent shareholding in Sunbird Tourism plc. We have been talking about expanding our investment base to include tourism for some time and we thought this was a good starting point,” Partridge said."
'via Blog this'
Mkango Resources Signs Two Investment Agreements With Talaxis - Finance News - London South East
Mkango Resources Signs Two Investment Agreements With Talaxis - Finance News - London South East: "Mkango Resources Signs Two Investment Agreements With Talaxis
Fri, 18th May 2018 10:37
LONDON (Alliance News) - Mkango Resources Ltd said Friday it has signed an agreement with shareholder Talaxis, a Noble Group subsidiary, in which Talaxis will acquire a 75% interest in Lancaster Exploration Ltd and 49% in Maginito Ltd.
Lancaster Exploration holds the licence for the Songwe Hill rare earths project in Malawi, and Maginito is a company focused on locating downstream opportunities related to the rare earths supply chain."
'via Blog this'
Fri, 18th May 2018 10:37
LONDON (Alliance News) - Mkango Resources Ltd said Friday it has signed an agreement with shareholder Talaxis, a Noble Group subsidiary, in which Talaxis will acquire a 75% interest in Lancaster Exploration Ltd and 49% in Maginito Ltd.
Lancaster Exploration holds the licence for the Songwe Hill rare earths project in Malawi, and Maginito is a company focused on locating downstream opportunities related to the rare earths supply chain."
'via Blog this'
Thursday, May 17, 2018
Globe Metals & Mining Limited has exclusive prospecting licence for niobium in Malawi renewed
Globe Metals & Mining Limited has exclusive prospecting licence for niobium in Malawi renewed: "Globe Metals & Mining has exclusive prospecting licence for niobium in Malawi renewed
Share
15:37 17 May 2018
The company’s shares have jumped 23% on news of the renewal for a further two years.
The prospecting licence is next to the company’s mining lease application
Globe Metals & Mining Limited (ASX:GBE) shares jumped on news that an exclusive prospecting licence for the Kanyika Niobium Project in Malawi has been renewed.
The company is a leading ASX gainer today with shares up 23% to 1.6 cents.
Malawi’s Minister of Natural Resources, Energy and Mining has formally notified the company the EPL0421/15 has been renewed for a further two years from May 22, 2018."
'via Blog this'
Share
15:37 17 May 2018
The company’s shares have jumped 23% on news of the renewal for a further two years.
The prospecting licence is next to the company’s mining lease application
Globe Metals & Mining Limited (ASX:GBE) shares jumped on news that an exclusive prospecting licence for the Kanyika Niobium Project in Malawi has been renewed.
The company is a leading ASX gainer today with shares up 23% to 1.6 cents.
Malawi’s Minister of Natural Resources, Energy and Mining has formally notified the company the EPL0421/15 has been renewed for a further two years from May 22, 2018."
'via Blog this'
IMF expects 2018 budget to mirror ECF programme | The Times Group
IMF expects 2018 budget to mirror ECF programme | The Times Group: "MF expects 2018 budget to mirror ECF programme
Posted By: William Kumwembeon: May 17, 2018In: BusinessNo Comments
The International Monetary Fund (IMF) has said it expects the 2018/19 national budget to be consistent with the new Extended Credit Facility (ECF) programme.
Finance Minister, Goodall Gondwe, is tomorrow expected to get down on his knees and ask impoverished Malawians to allow him use trillions of their hard-earned taxes between July 2018 and June 2019.
Late last month, the IMF approved another three-year ECF programme for Malawi valued at $112.3 million which aims to entrench macroeconomic stability and foster higher, more inclusive and resilient growth.
IMF Malawi Resident Representative, Jack Ree, said in an interview that the fund expects Lilongwe to deploy strong remedial measures to address the widening budget deficit."
'via Blog this'
Posted By: William Kumwembeon: May 17, 2018In: BusinessNo Comments
The International Monetary Fund (IMF) has said it expects the 2018/19 national budget to be consistent with the new Extended Credit Facility (ECF) programme.
Finance Minister, Goodall Gondwe, is tomorrow expected to get down on his knees and ask impoverished Malawians to allow him use trillions of their hard-earned taxes between July 2018 and June 2019.
Late last month, the IMF approved another three-year ECF programme for Malawi valued at $112.3 million which aims to entrench macroeconomic stability and foster higher, more inclusive and resilient growth.
IMF Malawi Resident Representative, Jack Ree, said in an interview that the fund expects Lilongwe to deploy strong remedial measures to address the widening budget deficit."
'via Blog this'
Wednesday, May 16, 2018
Power outages to hinder growth prospects—Govt - The Nation Online
Power outages to hinder growth prospects—Govt - The Nation Online: "Power outages to hinder growth prospects—Govt
Grace Phiri May 12, 2018 0 Comments
Government has admitted that delayed recovery of power generation will put constraints on the 2018 growth prospects, which has been projected at 4.5 percent.
According to the published 2018 Economic and Fiscal Policy Statement by the Ministry of Finance, Economic Planning and Development, this is on top of subdued growth anticipated from the agricultural sector which is slower that last year.
"
'via Blog this'
Grace Phiri May 12, 2018 0 Comments
Government has admitted that delayed recovery of power generation will put constraints on the 2018 growth prospects, which has been projected at 4.5 percent.
According to the published 2018 Economic and Fiscal Policy Statement by the Ministry of Finance, Economic Planning and Development, this is on top of subdued growth anticipated from the agricultural sector which is slower that last year.
"
'via Blog this'
Treasury upbeat On MGDS III - The Nation Online
Treasury upbeat On MGDS III - The Nation Online: "Treasury upbeat On MGDS III
Nation Online May 16, 2018 0 Comments
Ministry of Finance, Economic Planning and Development has expressed optimism on the implementation of the Malawi Growth and Development Strategy (MGDS) III with funding from government and donors.
In an interview on Friday, Secretary to the Treasury Ben Botolo said government intends to finance MGDS III—the overarching development strategy—through revenue generated from domestic resources which will be complemented with resources from concessional borrowing.
He said Treasury is banking on the private sector involvement in financing of flagship projects through the Public-Private Partnership (PPP) arrangements."
'via Blog this'
Nation Online May 16, 2018 0 Comments
Ministry of Finance, Economic Planning and Development has expressed optimism on the implementation of the Malawi Growth and Development Strategy (MGDS) III with funding from government and donors.
In an interview on Friday, Secretary to the Treasury Ben Botolo said government intends to finance MGDS III—the overarching development strategy—through revenue generated from domestic resources which will be complemented with resources from concessional borrowing.
He said Treasury is banking on the private sector involvement in financing of flagship projects through the Public-Private Partnership (PPP) arrangements."
'via Blog this'
Nico on course with hotel project | The Times Group
Nico on course with hotel project | The Times Group: "Nico on course with hotel project
Posted By: Chimwemwe Mangazion: May 11, 2018In: BusinessNo Comments
Nico Holdings Limited has said plans are at an advanced stage to commence construction of a $45 million hotel in Lilongwe as part of the company’s strategy to expand its accommodation business in the country.
Nico Holdings Chief Executive Officer, Vizenge Kumwenda, said the conglomerate will implement the project through one of its subsidiaries, Blantyre Hotels Limited. Further, he said Nico would partner a South African company to develop the property.
He said the project is likely going to commence before the end of this year."
'via Blog this'
Posted By: Chimwemwe Mangazion: May 11, 2018In: BusinessNo Comments
Nico Holdings Limited has said plans are at an advanced stage to commence construction of a $45 million hotel in Lilongwe as part of the company’s strategy to expand its accommodation business in the country.
Nico Holdings Chief Executive Officer, Vizenge Kumwenda, said the conglomerate will implement the project through one of its subsidiaries, Blantyre Hotels Limited. Further, he said Nico would partner a South African company to develop the property.
He said the project is likely going to commence before the end of this year."
'via Blog this'
Private sector credit rebounds in March | The Times Group
Private sector credit rebounds in March | The Times Group: "Private sector credit rebounds in March
Posted By: Taonga Sabolaon: May 16, 2018In: BusinessNo Comments
Private sector borrowing rebounded in March 2018 following four consecutive months of decline, figures from the Reserve Bank of Malawi (RBM) show.
This could be partly attributed to improvements in business activity during the month of March.
In its March 2018 Monthly Economic Report released on Thursday, RBM says credit to the private sector increased by K8.2 billion to K398 billion in March 2018. This was slightly higher than K396.4 billion recorded in March 2017."
'via Blog this'
Posted By: Taonga Sabolaon: May 16, 2018In: BusinessNo Comments
Private sector borrowing rebounded in March 2018 following four consecutive months of decline, figures from the Reserve Bank of Malawi (RBM) show.
This could be partly attributed to improvements in business activity during the month of March.
In its March 2018 Monthly Economic Report released on Thursday, RBM says credit to the private sector increased by K8.2 billion to K398 billion in March 2018. This was slightly higher than K396.4 billion recorded in March 2017."
'via Blog this'
Firm sees rising current account deficit | The Times Group
Firm sees rising current account deficit | The Times Group: "Firm sees rising current account deficit
Posted By: William Kumwembeon: May 16, 2018In: BusinessNo Comments
Investment management and advisory firm, Nico Asset Managers, says it expects Malawi’s current account deficit to rise to 14.5 percent of the Gross Domestic Product (GDP) in 2018, from 12.5 percent in 2017.
A current account deficit is a measurement of a country’s trade where the value of goods and services it imports exceeds the value of goods and services it exports.
The anticipated rise in current account deficit comes as the performance of the country’s exports is projected to be hindered by unfavourable weather conditions, infrastructure challenges, lack of finance for farmers and low agricultural technology."
'via Blog this'
Posted By: William Kumwembeon: May 16, 2018In: BusinessNo Comments
Investment management and advisory firm, Nico Asset Managers, says it expects Malawi’s current account deficit to rise to 14.5 percent of the Gross Domestic Product (GDP) in 2018, from 12.5 percent in 2017.
A current account deficit is a measurement of a country’s trade where the value of goods and services it imports exceeds the value of goods and services it exports.
The anticipated rise in current account deficit comes as the performance of the country’s exports is projected to be hindered by unfavourable weather conditions, infrastructure challenges, lack of finance for farmers and low agricultural technology."
'via Blog this'
Japan courts Malawi for renewal of Mulanje rare-earth licence | Mining in Malawi
Japan courts Malawi for renewal of Mulanje rare-earth licence | Mining in Malawi: "Japan courts Malawi for renewal of Mulanje rare-earth licence
By Chiku Jere
Japan has asked Malawi to renew an exclusive prospective licence for Springstone Limited, a joint venture between Japan, Oil, Gas and Metals National Corporation (JOGMEG) and Canada’s Gold Canyon Resources, which is exploring for rare earth elements at Chambe Basin in Mulanje Mountain.
This is contained in a communique detailing engagements of Minister of Natural Resources, Energy and Mining, Aggrey Masi, in Cape Town, South Africa, where he led a Malawi delegation that attended the 2018 Investing in Africa Mining Indaba."
'via Blog this'
By Chiku Jere
Japan has asked Malawi to renew an exclusive prospective licence for Springstone Limited, a joint venture between Japan, Oil, Gas and Metals National Corporation (JOGMEG) and Canada’s Gold Canyon Resources, which is exploring for rare earth elements at Chambe Basin in Mulanje Mountain.
This is contained in a communique detailing engagements of Minister of Natural Resources, Energy and Mining, Aggrey Masi, in Cape Town, South Africa, where he led a Malawi delegation that attended the 2018 Investing in Africa Mining Indaba."
'via Blog this'
Tuesday, May 15, 2018
Luangwa Bridge offer timely – Zambia Daily Mail
Luangwa Bridge offer timely – Zambia Daily Mail: "THAT the Japanese government has pledged to construct a bridge across Luangwa River on the Great East Road to replace the current rather old one is an opportunity which Zambia should quickly seize, considering the advantages that will come along with the project.
Not only is the structure a vital access point within the country for the Eastern Province, it also provides a link to Mozambique, which is about two kilometres away, and Zimbabwe (about 60km from the bridge) and Malawi much farther.
It is 250km from the nearest city, Lusaka, and is located in a remote area, where its approaches have to contend with steep rugged slopes and deep ravines covered in forest or thick bush. Part of its history is that, since it was first built in 1932 through Beit Trust’s support, it twice suffered destruction as revenge by colonialists because of Zambia’s support for her neighbouring countries’ freedom fighters."
'via Blog this'
Not only is the structure a vital access point within the country for the Eastern Province, it also provides a link to Mozambique, which is about two kilometres away, and Zimbabwe (about 60km from the bridge) and Malawi much farther.
It is 250km from the nearest city, Lusaka, and is located in a remote area, where its approaches have to contend with steep rugged slopes and deep ravines covered in forest or thick bush. Part of its history is that, since it was first built in 1932 through Beit Trust’s support, it twice suffered destruction as revenge by colonialists because of Zambia’s support for her neighbouring countries’ freedom fighters."
'via Blog this'
Debt policy to reduce Economic risks—IMF - The Nation Online
Debt policy to reduce Economic risks—IMF - The Nation Online:
Debt policy to reduce Economic risks—
IMF
Grace Phiri @ May 15, 2018 o Comments
Treasury's move to develop a medium-term strategy on public debt management is expected to
reduce risks to the economy brought in largely due to a lack of a coherent direction on debt, the
International Monetary Fund (IMF) has said.
In a written response to a questionnaire yesterday, IMF resident representative Jack Ree said
addressing rising public debt, which was also undercutting the efficiency of the management of
budget, requires a multi-faceted policy response.
'via Blog this'
Debt policy to reduce Economic risks—
IMF
Grace Phiri @ May 15, 2018 o Comments
Treasury's move to develop a medium-term strategy on public debt management is expected to
reduce risks to the economy brought in largely due to a lack of a coherent direction on debt, the
International Monetary Fund (IMF) has said.
In a written response to a questionnaire yesterday, IMF resident representative Jack Ree said
addressing rising public debt, which was also undercutting the efficiency of the management of
budget, requires a multi-faceted policy response.
'via Blog this'
Debt policy to reduce Economic risks—IMF - The Nation Online
Debt policy to reduce Economic risks—IMF - The Nation Online:
Debt policy to reduce Economic risks—
IMF
Grace Phiri @ May 15, 2018 o Comments
Treasury's move to develop a medium-term strategy on public debt management is expected to
reduce risks to the economy brought in largely due to a lack of a coherent direction on debt, the
International Monetary Fund (IMF) has said.
In a written response to a questionnaire yesterday, IMF resident representative Jack Ree said
addressing rising public debt, which was also undercutting the efficiency of the management of
budget, requires a multi-faceted policy response.
'via Blog this'
Debt policy to reduce Economic risks—
IMF
Grace Phiri @ May 15, 2018 o Comments
Treasury's move to develop a medium-term strategy on public debt management is expected to
reduce risks to the economy brought in largely due to a lack of a coherent direction on debt, the
International Monetary Fund (IMF) has said.
In a written response to a questionnaire yesterday, IMF resident representative Jack Ree said
addressing rising public debt, which was also undercutting the efficiency of the management of
budget, requires a multi-faceted policy response.
'via Blog this'
Ethanol project nears completion | The Times Group
Ethanol project nears completion | The Times Group: "Ethanol project nears completion
Posted By: William Kumwembeon: May 10, 2018In: BusinessNo Comments
Malawi will soon commission the Ethanol Vehicles Driven Project (EDVP), whereby motorists will opt for ethanol as a stand-alone fuel or its blend with petrol, following completion of a pricing mechanism of the fuel, the Malawi Energy Regulatory Authority (Mera) has said.
Mera Chief Executive Officer, Collins Magalasi, said last week that a study that was commissioned to determine the pricing mechanism has since been concluded"
'via Blog this'
Posted By: William Kumwembeon: May 10, 2018In: BusinessNo Comments
Malawi will soon commission the Ethanol Vehicles Driven Project (EDVP), whereby motorists will opt for ethanol as a stand-alone fuel or its blend with petrol, following completion of a pricing mechanism of the fuel, the Malawi Energy Regulatory Authority (Mera) has said.
Mera Chief Executive Officer, Collins Magalasi, said last week that a study that was commissioned to determine the pricing mechanism has since been concluded"
'via Blog this'
Nico on course with hotel project | The Times Group
Nico on course with hotel project | The Times Group: "Nico on course with hotel project
Posted By: Chimwemwe Mangazion: May 11, 2018In: BusinessNo Comments
Nico Holdings Limited has said plans are at an advanced stage to commence construction of a $45 million hotel in Lilongwe as part of the company’s strategy to expand its accommodation business in the country.
Nico Holdings Chief Executive Officer, Vizenge Kumwenda, said the conglomerate will implement the project through one of its subsidiaries, Blantyre Hotels Limited. Further, he said Nico would partner a South African company to develop the property.
He said the project is likely going to commence before the end of this year.
“We will be able to do this project because of the partnership we have with experts in property development, Eris, from South Africa. Nico Asset Managers are the ones that will do the capital raise, Blantyre Hotels will be one of the investors and our target is to break ground on construction before December,” Kumwenda said."
'via Blog this'
Posted By: Chimwemwe Mangazion: May 11, 2018In: BusinessNo Comments
Nico Holdings Limited has said plans are at an advanced stage to commence construction of a $45 million hotel in Lilongwe as part of the company’s strategy to expand its accommodation business in the country.
Nico Holdings Chief Executive Officer, Vizenge Kumwenda, said the conglomerate will implement the project through one of its subsidiaries, Blantyre Hotels Limited. Further, he said Nico would partner a South African company to develop the property.
He said the project is likely going to commence before the end of this year.
“We will be able to do this project because of the partnership we have with experts in property development, Eris, from South Africa. Nico Asset Managers are the ones that will do the capital raise, Blantyre Hotels will be one of the investors and our target is to break ground on construction before December,” Kumwenda said."
'via Blog this'
Monday, May 14, 2018
Treasury records K79.8bn deficit in q3 - The Nation Online
Treasury records K79.8bn deficit in q3 - The Nation Online:
Treasury records K79.8bn deficit in q3
Grace O May 14, 2018 o Comments
Treasury recorded a deficit of K79.8 billion in its budget operations in the third quarter
(January-March) of this fiscal year, figures from the Reserve Bank of Malawi (RBM) show.
Figures contained in the March 2018 Monthly Economic Review show that Treasury recorded a
deficit of K13-9 billion in January while in February and March, the deficits were recorded at
K39.6 billion K26.3 billion, respectively.
'via Blog this'
Treasury records K79.8bn deficit in q3
Grace O May 14, 2018 o Comments
Treasury recorded a deficit of K79.8 billion in its budget operations in the third quarter
(January-March) of this fiscal year, figures from the Reserve Bank of Malawi (RBM) show.
Figures contained in the March 2018 Monthly Economic Review show that Treasury recorded a
deficit of K13-9 billion in January while in February and March, the deficits were recorded at
K39.6 billion K26.3 billion, respectively.
'via Blog this'
Wednesday, May 9, 2018
Tobacco rakes in K32.5bn in four weeks - The Nation Online
Tobacco rakes in K32.5bn in four weeks - The Nation Online:
Tobacco rakes in K32.5bn in four weeks
Malawi has earned $44-3 million (K32.5 billion) in one-month from the sale of 29.1 million
kilogrammes (kg) of tobacco, figures from the Tobacco Control Commission (TCC) have
shown.
During the same period last year, Malawi earned $23.1 million (K16.9 billion) from of 13-4
million kg of the leaf.
'via Blog this'
Sunday, May 6, 2018
Mkango Resources Ltd says initial phases of the feasibility for Songwe Hill are underway
Mkango Resources Ltd says initial phases of the feasibility for Songwe Hill are underway: "Mkango Resources says initial phases of the feasibility for Songwe Hill are underway
Share
08:13 03 May 2018
Over 50 drill pads are being constructed for the drill programme, as well as an enlarged camp to accommodate the larger team versus previous drill programmes
Mkango is targeting completion of an updated Mineral Resource Estimate by the end of 2018
Mkango Resources Ltd (LON:MKA, CVE:MKA) said the initial phases of the feasibility study for the Songwe Hill rare earths deposit has started.
Drilling is targeted to commence within the next month, once all drill roads and pads are completed, Mkango said."
'via Blog this'
Share
08:13 03 May 2018
Over 50 drill pads are being constructed for the drill programme, as well as an enlarged camp to accommodate the larger team versus previous drill programmes
Mkango is targeting completion of an updated Mineral Resource Estimate by the end of 2018
Mkango Resources Ltd (LON:MKA, CVE:MKA) said the initial phases of the feasibility study for the Songwe Hill rare earths deposit has started.
Drilling is targeted to commence within the next month, once all drill roads and pads are completed, Mkango said."
'via Blog this'
Saturday, May 5, 2018
MW needs 10% annual growth for improved economy—MCCCI - The Nation Online
MW needs 10% annual growth for improved economy—MCCCI - The Nation Online:
MW needs 10% annual growth for
improved economy—MCCCI
Grace O May 5, 2018 o Comments
TThe Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has said the
country needs an annual growth rate of 10 percent if the economy is to register ripple effects.
Speaking in an interview on Tuesday, MCCCI chief executive officer Chancellor Kaferapanjira
said at the rate Malawi is growing, there is little hope for the poor to get out of the poverty
trap.
'via Blog this'
MW needs 10% annual growth for
improved economy—MCCCI
Grace O May 5, 2018 o Comments
TThe Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has said the
country needs an annual growth rate of 10 percent if the economy is to register ripple effects.
Speaking in an interview on Tuesday, MCCCI chief executive officer Chancellor Kaferapanjira
said at the rate Malawi is growing, there is little hope for the poor to get out of the poverty
trap.
'via Blog this'
Cement prices raise eyebrows | The Times Group
Cement prices raise eyebrows | The Times Group:
Cement prices raise eyebrows
Posted By: Caroline Kandiero on: May 04, 2018 In: Business No Comments
Lafarge and Cement Products Limited (CPL) have dismissed allegations that they are colluding,
when setting prices for their products.
Last week, the two companies announced separate price reductions, a development some
analysts claim points to collusion between the companies as a strategy to frustrate external
competition.
'via Blog this'
Cement prices raise eyebrows
Posted By: Caroline Kandiero on: May 04, 2018 In: Business No Comments
Lafarge and Cement Products Limited (CPL) have dismissed allegations that they are colluding,
when setting prices for their products.
Last week, the two companies announced separate price reductions, a development some
analysts claim points to collusion between the companies as a strategy to frustrate external
competition.
'via Blog this'
Current account deficit narrows to 10% - The Nation Online
Current account deficit narrows to 10% - The Nation Online:
Current account deficit narrows to 10%
Grace O May 5, 2018 o Comments
Malawi's current account deficit has narrowed to 10 percent of gross domestic product (GDP)
in 2017, from 13.6 percent in 2016, published figures from the International Monetary Fund
(IMF) show.
The current account deficit is the net of the balance of trade. In simpler terms, a country is
said to have a trade surplus if its exports exceed its imports and a trade deficit if its imports
exceed its exports.
'via Blog this'
Current account deficit narrows to 10%
Grace O May 5, 2018 o Comments
Malawi's current account deficit has narrowed to 10 percent of gross domestic product (GDP)
in 2017, from 13.6 percent in 2016, published figures from the International Monetary Fund
(IMF) show.
The current account deficit is the net of the balance of trade. In simpler terms, a country is
said to have a trade surplus if its exports exceed its imports and a trade deficit if its imports
exceed its exports.
'via Blog this'
Friday, May 4, 2018
UPDATE 1-Malawi's president says economy to grow by 6 percent in 2019 | Reuters
UPDATE 1-Malawi's president says economy to grow by 6 percent in 2019 | Reuters: "UPDATE 1-Malawi's president says economy to grow by 6 percent in 2019
Reuters Staff
LILONGWE, May 4 (Reuters) - Malawi’s economy will grow by as much as 6 percent in 2019 from a 4 percent expansion expected in 2018, President Peter Mutharika said on Friday, in remarks ahead of the presentation of the national budget in parliament.
Malawi, which is heavily reliant on financing from foreign donors, mostly Britain, other European Union countries and the United States, has restored economic stability after a period when the siphoning off of funds by government officials led to donors freezing budgetary support in 2013."
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Reuters Staff
LILONGWE, May 4 (Reuters) - Malawi’s economy will grow by as much as 6 percent in 2019 from a 4 percent expansion expected in 2018, President Peter Mutharika said on Friday, in remarks ahead of the presentation of the national budget in parliament.
Malawi, which is heavily reliant on financing from foreign donors, mostly Britain, other European Union countries and the United States, has restored economic stability after a period when the siphoning off of funds by government officials led to donors freezing budgetary support in 2013."
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Toshiba to assist Malawi in developing geothermal power
Toshiba to assist Malawi in developing geothermal power: "Japanese multinational conglomerate Toshiba and Malawi’s Ministry of Natural Resources, Energy and Mining (MNREM) have concluded a memorandum of understanding (MoU) for the development of geothermal power.
The MoU anticipates a comprehensive partnership in geothermal power projects including capacity building programmes in relation to the technology.
Under the terms of the MoU, Toshiba will collaborate in the development and supply of major equipment for a geothermal power plant, develop operation and management guidelines, and facilitate capacity building programmes."
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The MoU anticipates a comprehensive partnership in geothermal power projects including capacity building programmes in relation to the technology.
Under the terms of the MoU, Toshiba will collaborate in the development and supply of major equipment for a geothermal power plant, develop operation and management guidelines, and facilitate capacity building programmes."
'via Blog this'
Tuesday, May 1, 2018
IMF Executive Board Approves US$112.3 Million under the ECF Arrangement for Malawi
IMF Executive Board Approves US$112.3 Million under the ECF Arrangement for Malawi: "The Executive Board of the International Monetary Fund (IMF) today approved a new three-year arrangement for Malawi under the Extended Credit Facility (ECF) for SDR78.075 million (about US$112.3 million), equivalent of 56.25 percent of Malawi’s quota in the IMF, to support the country’s economic and financial reforms. [1]
The Executive Board’s decision enables an immediate disbursement of SDR11.15 million (about US$16 million). The remaining amount will be phased over the duration of the program, subject to semi-annual reviews."
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The Executive Board’s decision enables an immediate disbursement of SDR11.15 million (about US$16 million). The remaining amount will be phased over the duration of the program, subject to semi-annual reviews."
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