PPA signed for 60 MW Malawi solar project – pv magazine International

PPA signed for 60 MW Malawi solar project – pv magazine International: PPA signed for 60 MW Malawi solar project JCM Matswani Solar Corp Limited has signed a 20-year power purchase agreement (PPA) with the Electricity Supply Corporation of Malawi Limited (ESCOM) for a 60 MW solar PV project.

Inflation quickens to 9.3% in August | The Times Group

Inflation quickens to 9.3% in August | The Times Group: Malawi’s headline quickened by 0.3 percentage points in August to 9.3 percent as escalating food prices continued to bite, the National Statistical Office (NSO) has said.

This was the second month inflation has surged after making a u-turn in July.

Malawian consent order allows Lindian to secure rare earths project EPL soon

Malawian consent order allows Lindian to secure rare earths project EPL soon: SX-listed Lindian Resources’ geologist Michael Saner has signed a consent order with the Malawi Ministry of Natural Resources and Environmental Affairs, bringing the company a step closer to acquiring up to 75% in the Kangankunde rare earths project, in Malawi.

Tanzanian junior expands focus to develop large-scale rare earths project in Malawi

Tanzanian junior expands focus to develop large-scale rare earths project in Malawi: While focused on advancing its Lushoto bauxite project in Tanzania, ASX-listed Lindian Resources has expanded its East African project portfolio having progressed with its acquisition of up to a 75% interest in a major rare earths project in Malawi. A consent order between the Malawi Ministry of Natural Resources and Environmental Affairs and Michael Saner has been signed for the Kangankunde rare earths project in Malawi – reportedly one of the largest rare earths projects outside of China. The acquisition was announced in August, the seller – Rift Valley Resources

Reserve Bank maintains bank rate at 16% | The Times Group

Reserve Bank maintains bank rate at 16% | The Times Group: Monetary Policy Committee (MPC) of the Reserve Bank of Malawi (RBM) Wednesday resolved to maintain the country’s indicative cost of borrowing, technically known as bank or policy rate, at 16 percent.

The decision did not come as a surprise considering the inflationary pressures the economy has been experiencing in recent months emanating from rising food and non-food prices.

Mkango Identifies Further Extensions of Mineralisation in Latest Drill Results From the Songwe Hill Rare Earths Project in Malawi TSX Venture Exchange:MKA

Mkango Identifies Further Extensions of Mineralisation in Latest Drill Results From the Songwe Hill Rare Earths Project in Malawi TSX Venture Exchange:MKA: Mkango Identifies Further Extensions of Mineralisation in Latest Drill Results From the Songwe Hill Rare Earths Project in Malawi Email Print Friendly Share September 20, 2018 02:00 ET | Source: Mkango Resources Ltd. LONDON and CALGARY, Alberta, Sept. 20, 2018 (GLOBE NEWSWIRE) -- Mkango Resources Ltd. (AIM / TSXV: MKA) (the "Company" or "Mkango") is pleased to announce results for a further nine holes from the recently completed 10,900 metre diamond drill programme at the Songwe Hill Rare Earths Project (“Songwe”) in Malawi. The drilling programme is a key component of the ongoing initial phases of the Feasibility Study for Songwe, which is fully funded following investments by Mkango’s strategic partner, Talaxis Limited, in January 2018

IMF team in next week for ECF review | The Times Group

#IMF team in next week for ECF review | The Times Group: REE— It will also reflect on lessons An International Monetory Fund (IMF) mission team is expected in #Malawi next week for the first review of the Extended Credit Facility (ECF) programme worth about K82.3 billion ($112.3 million) the fund’s executive board approved in May 2018. IMF Resident Representative to Malawi, Jack Ree, said in a response to an emailed questionnaire that an advance team of the ECF mission would be in the country next week.

Malawi’s energy compact ends | The Times Group

Malawi’s energy compact ends | The Times Group: Malawi’s $350.7 million Millennium Challenge Corporation (MCC) energy compact came to an end Thursday after rolling for five years.

Among other objectives the compact was designed to modernise Malawi’s electricity infrastructure by broadening the band width to accommodate future investments in addition to bringing additional voltage into the national grid.

Is uranium about to breakout?

Is uranium about to breakout?: On Friday, September 14, uranium increased to US$ 27.30 a pound. Is this going to be the breakout indicator? Historically, uranium reached an all time high of US$143 in May of 2007 and a record low of US$7.10 in December of 2000.

Domestic debt jumps 9 percent | The Times Group

Domestic debt jumps 9 percent | The Times Group: Malawi’s outstanding domestic debt stock accelerated by nine percent from K1.37 trillion to K1.5 trillion in the second quarter of 2018, figures from the Reserve Bank of Malawi (RBM) indicate. The K1.5 billion is slightly higher than the K1.45 trillion budget for the 2018/19 financial year.

MITC signs $234 million deals in August | The Times Group

MITC signs $234 million deals in August | The Times Group: CHIMBALU— About 1014 jobs to be created The Malawi Investment and Trade Centre (MITC) in August granted 15 investment certificates to prospective investors, representing $234.7 million in investment pledges. The amount is 41.5 percent higher than the $165.8 million investment pledges registered in July. In August last year, only two companies had registered with investment pledges

Bad policies worry MCCCI | The Times Group

Bad policies worry MCCCI | The Times Group: Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has said frequent policy interventions are scaring private sector players in the agriculture sector.

MCCCI President, Prince Kapondamgaga, was speaking in Blantyre Wednesday at the start of the 15th National Agriculture Fair.

Kapondamgaga said, though the agriculture sector has potential to transform the structure of the economy if it attracts private sector investments, It continues to face an unpredictable policy environment.

NBS Bank posts profit, turnaround on track - The Nation Online

NBS Bank posts profit, turnaround on track - The Nation Online: NBS Bank posts profit, turnaround on track
Chikondi Chiyembekeza September 4, 2018 0 Comments
The fruits of human capital investment and partnership seem to have paid off at the Malawi Stock Exchange (MSE)-listed NBS Bank plc as it has posted a K479 million half-year profit, after two years of losses.

The bank has been on a recruitment drive and training of its staff and also partnered Rabobank—a technical partner from The Netherlands.

Escom board chair vows to clean up mess - The Nation Online

Escom board chair vows to clean up mess - The Nation Online: Escom board chairperson Thom Mpinganjira has pledged to spruce up the image of the power utility, which has been in the limelight for various reasons, including corruption allegations.

State-owned Electricity Supply Corporation of Malawi (Escom) has also been accused of inefficiency in its operations, largely due to serious misprocurement which has been prevalent in recent past.

In an interview monitored on privately-owned Capital Radio on Tuesday, Mpinganjira, who is also group chief executive officer and shareholder of financial services group, FDH Financial Holdings Limited, said Escom board has so far moved in and made various recommendations aimed at improving the operations and the performance of the parastata

Chinese firm for speed on Kammwamba project - The Nation Online

Chinese firm for speed on Kammwamba project - The Nation Online: Energy China Engineering Group, a company sub-contracted to work on the Kammwamba Coal–Fired Power Plant in Neno says it will work with speed to ensure that the project is completed soon. Chief chairman for Energy China Engineering Group Wang Jiangping said this in Beijing, China when President Peter Mutharika toured the company’s head office to appreciate the strides that the company has made in preparation for the 300 megawatt Kammwamba project.