watch CEO OF MKANGO
https://www.youtube.com/watch?v=nexKYk7yd3E&t=1s

Report shows Escom still in a mess - The Nation Online

Report shows Escom still in a mess - The Nation Online: Investigations into the cause of financial mess that prompted Escom to make an abortive K53 billion bailout request from Treasury, has exposed entrenched weaknesses, prompting a Special Task Team to recommend management consultants to resolve the mess.

In its confidential report titled Report on Building and Unleashing Escom’s Potential in the New Environment, dated February 7 2019, the task team, chaired by Comptroller of Statutory Corporations Stuart Ligomeka, has detailed failure of the procurement, stores, distribution and financial management functions as well as indiscipline and poor organisational culture.

Govt slow on water project - The Nation Online

Govt slow on water project - The Nation Online: 

Will the project ever kick off? After years of court battles on how the K400 billion Lilongwe-Salima waterway contract was awarded to Khato Civils and when dust appeared to settle, financing of the project remains another hurdle.

Minister of Finance, Economic Planning and Development Goodall Gondwe disclosed to Nation on Sunday early October, last year, that government discussed and arrived at an agreement with a financier that Khato Civils identified.

Malawi invites bidders to express interest for solar PV tender | ESI-Africa.com

Malawi invites bidders to express interest for solar PV tender | ESI-Africa.com: The Electricity Generation Company (EGENCO) of Malawi is calling on qualified bidders to expression their interests for a 10MW solar PV tender to be constructed in Salima. The plant may be scaled up with an additional 10MW capacity to 20MW. The Integrated Resource Plan (IRP) for Malawi published in May 2017 shows the demand forecast for year 2020 exceeding 567MW whilst EGENCO’s installed generation capacity is at 411.6MW (including diesel generators).

Treasury deficits continue to pile - The Nation Online

Treasury deficits continue to pile - The Nation Online: Treasury continues to record deficits in its budgetary operations with the latest being a K13.3 billion deficit recorded in December 2018, published Reserve Bank of Malawi (RBM) figures have shown.

However, the deficit incurred is an improvement of a deficit of K54.3 billion recorded in November 2018, the RBM� December 2018 Monthly Economic Report shows.�

Initiative gets 100 financing proposals - The Nation Online

Initiative gets 100 financing proposals - The Nation Online: The Malawi Agricultural and Industrial Investment Corporation (Maiic) says it has received over 100 project proposals worth about $262 million (about K194 billion) in various sectors of the economy.

The 100 project proposals follow last year’s call for project proposals the institution advertised in the media for possible financing

MW-MOZ secure funding for power interconnection - The Nation Online

MW-MOZ secure funding for power interconnection - The Nation Online: Malawi and Mozambique have secured 20 million euro (about K15 billion) from multilateral lending institutions for the implementation of the power Interconnection project, a move expected to help solve energy woes facing the county.

The two countries have jointly secured financing for the project from the World Bank, KfW and the Norwegian Trust Fund.

Firm to add 21mw to national power grid | The Times Group

Firm to add 21mw to national power grid | The Times Group: Firm to add 21mw to national power grid
Posted By: Tom Sangalaon: February 15, 2019In: BusinessNo Comments
By William Kumwembe:

Electricity Supply Corporation of Malawi (Escom) Thursday signed a Power Purchase Agreement (PPA) with Phanes Energy Limited that could add 21 megawatts (mw) to the national power grid by July 2019.

Malawi launches 20 MW solar tender – pv magazine International

Malawi launches 20 MW solar tender – pv magazine International: Malawi’s utility the Electricity Generation Company (Malawi) Ltd – Egenco – has launched a tender for a 20 MW solar project near Salima, in the central region of the country. “Egenco plans to install the solar PV plant close to a growing load center – Salima – to maximize benefits to the national grid and satisfy the afternoon peak demand,” the utility said in a statement, adding land for the project has been secured

Egenco, Escom switch off diesel gensets - The Nation Online

Egenco, Escom switch off diesel gensets - The Nation Online: Egenco, Escom switch off diesel gensets
Nation Online February 11, 2019 0 Comments
Electricity Generation Company (Egenco) and Electricity Supply Corporation of Malawi (Escom) have switched off diesel generators due to increased hydro electricity generation resulting from heavy rains the country is getting.

The development is expected to see the twin power utilities save resources incurred on operational costs of the generators.

Illovo profit hits K16.4 billion | The Times Group

Illovo profit hits K16.4 billion | The Times Group: Illovo Sugar Malawi recorded a K16.4 billion profit in the year-ended August 31 2018, up from K7 billion registered in 2017, the firm said on Thursday. Briefing investors in Chikwawa, the firm said, having produced 230,020 million tonnes of sugar last year, the company’s revenue rose to K141.8 billion from K124, 035 billion in 2017.

Globe Metals & Mining Ltd finalises Kanyika Niobium Project feasibility study revision

Globe Metals & Mining Ltd finalises Kanyika Niobium Project feasibility study revision: Globe Metals & Mining Ltd (ASX:GBE) has finalised the revision of all studies and plans in respect to the feasibility study for its Kanyika Niobium Project in Malawi. The revision process was conducted to a technical level satisfactory to engineering classification standards and reviewed programs associated with the mineral resource, mining, metallurgy, engineering design and infrastructural support.

Economist Intelligent Unit sees kwacha weakening by 9% | The Times Group

Economist Intelligent Unit sees kwacha weakening by 9% | The Times Group: United Kingdom-based economic think-tank, the Economist Intelligent Unit (EIU), has predicted the local trading unit, the kwacha, will weaken by about nine percent in 2019.

The forecast comes at a time the Reserve Bank of Malawi (RBM) has predicted a stable kwacha in 2019.

The EIU further says fiscal consolidation after the election should reduce the downward pressure on the currency in 2020.

According to Nico Asset Managers’ 2018 Annual Economic Report released on Wednesday, EIU says between 2021 and 2022, a weaker US dollar and higher exports aided by a strengthening in the prices of some of Malawi’s agricultural exports should provide further modest support to the kwacha.

Banks react to policy rate cut | The Times Group

Banks react to policy rate cut | The Times Group: The country’s commercial banks have started reacting to last month’s policy rate cut by the Monetary Policy Committee (MPC) of the Reserve Bank of Malawi (RBM).

While the banks had little freedom to decide the base lending rates as it was set at the Lombard rate of14.9 percent by MPC, the banks have started pulling downwards their maximum lending rates.

Malawi central Bank cuts policy rate to 14.5% - The Maravi Post

Malawi central Bank cuts policy rate to 14.5% - The Maravi Post: BLANTRYRE-(MaraviPost)-The Monetary Policy Committee (MPC) of the Reserve Bank of Malawi (RBM) Wednesday reduced the indicative cost of money, technically known as the policy rate, by 1.5 percentage points from 16 to 14.5 percent. This is the first time in 13 months for MPC to trim the policy rate which was last revised downwards in December 2017.

Goodall upbeat on 7% GDP growth prospects | The Times Group

Goodall upbeat on 7% GDP growth prospects | The Times Group: Finance, Economic Planning and Development Minister, Goodall Gondwe, has reiterated that the local economy could accelerate by seven percent in 2019 amid pessimism from some economic think-tanks. Gondwe’s assertion comes as commentators say attaining a Gross Domestic Product (GDP) growth of above five percent this year remains a farfetched dream saying the outlook remains highly vulnerable to internal and external shocks

Malawi Airlines touts 2018 business strides | The Times Group

Malawi Airlines touts 2018 business strides | The Times Group: The Malawi Airlines has rated the past two years as good for business, evidenced by continued rise in number of passengers flying with the airliner.

Figures from the Malawi Airlines show that the number of passengers went up by 82 percent from 90,000 2013 to 164,000 in 2018.

Malawi Airlines Chief Executive Officer, Hailemelekot Mamo, said in an interview the airliner expects the numbers to grow to over 200,000 passengers this year.

Mkango Reports 60% Increase In Total Resources To... | Morningstar

Mkango Reports 60% Increase In Total Resources To... | Morningstar: LONDON (Alliance News) - Mkango Resources Ltd on Monday reported a 60% increase in its total resources to 21 million tonnes. Furthermore, the company said it achieved all the key objectives of its 2018 drilling programme, with the updated resource underpinning the ongoing feasibility study. At the company's Songwe Hill rare earths project in Malawi, approximately 95% of the measured and indicated mineral resource blocks are less than 160 metres below the surface, indicating that the majority will be accessible by open pit mining.

Mkango Resources Ltd increases mineral resource estimate at Songwe

Mkango Resources Ltd increases mineral resource estimate at Songwe: Mkango now has 21mln tonnes of rare earths ore grading 1.41% in the measured and indicated category Download Mkango Resources Ltd Capital Network report here The next �7mln tranche of investment from Talaxis is now due Mkango Resources Ltd (LON:MKA) has increased the mineral resource estimate at its Songwe Hill rare earths project in Malawi. The results from last year’s “highly successful” drill programme have allowed the explorer to increase the measured and indicated resource estimate to 21mln tonnes grading 1.41%.

Sovereign raises A$4m for Malawi project

Sovereign raises A$4m for Malawi project: Sovereign raises A$4m for Malawi project  ASX-listed junior Sovereign Metals is hoping to raise A$4.3-million through a share placement to advance the development of its Malingunde flake graphite project, in Malawi.