Reserve Bank to Hold Symposium on Pension Funs

The Reserve Bank of Malawi (RBM) has announced it will on Tuesday hold a symposium in the commercial capital Blantyre whose aim is to discuss pension funds investment in infrastructural development In a statement signed by RBM governor, Dalitso Kabambe, the symposium will be held at Sunbird Mount Soche Hotel under the theme 'Investing Our Future  In Infrastructure.'  The pension fund is currently worth K746 billion.

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Mkango Resources gets $2 million for Thambani uranium licence

Mkango Resources gets $2 million for Thambani uranium licence: Mkango Resources has entered into a non-binding Heads of Terms Agreement with MetalNRG whereby MetalNRG will earn up to a 75% interest in the Thambani exclusive prospecting licence in Malawi, by spending up to $2,000,000 on exploration.��

The terms of the agreement outline that the parties will enter into a Binding Definitive Agreement on or before 30 June 2019 that shall include the following elements:

Public debt rise worries industry | The Times Group

Public debt rise worries industry | The Times Group: Public debt rise worries industry
Posted By: Tom Sangalaon: April 25, 2019In: BusinessNo Comments
By William Kumwembe:

The Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has reiterated that public debt is stifling the country’s economic growth strides.

In its 2019 first quarter Economic Review issued on Tuesday, the chamber says economic gains registered in the first three months of the year are threatened by increasing public debt levels.

The first quarter saw a reduction in policy rate — a key driver of interest rates on loans — to 14.5 percent from 16 percent, a stable exchange rate at around K733 against the United States dollar and lower inflation rates which stood at 9.3 percent in March.

Our Comments on Magufuli's visit  to Malawi

https://www.youtube.com/watch?v=jt6zrkoOJts

Magafuli talked about key economic issues - the Mtwara port, the improvements at Dar port and the Songwe border post.  Shame that we as a landlocked country should be told by others about the need for access to new ports.

We have failed to understand and exploit our strategic position in the new transport re-ordering as access to Asia becomes an important preoccupation.  Malawi runs South-North to the East of Zambia, DRC, parts of Mozambique and even Zimbabwe which is building an extension of its railroad to join the  Nacala route about which we have been so passive. We could exploit our strategic position to connect these countries through Malawi Making Nkhata Bay and Liwonde important nodes for the region.  The multiple routes would also reduce our vulnerable and make our road-connected rather land-locked image a credible one.

We have been holding up the Songwe border for five years!.  We have been slow in finding funds that would connect Zambia to Nkhata Bay-Mbamba Bay-Mtwara route although this would be an easy project to fund.   Both the Songwe and Nkahta Bay have received financial support but it would seem Malawi is the reluctant or inefficient partner in all this. And it could easily fit into the China One Belt One Road.

Our host had quite precisely identified the issues to discuss. We had nothing to say about any of these things.  Instead, we worried about illegal migration which is probably not anybody/s mind in the region, especially when the main talking point is the ease of mobility in Africa. It was so embarrassing.

We obviously had no economic issues to talk about.  Our preoccupation was electoral.

What a waste of opportunity once again. And we wonder why we are so poor.

PCL profit down 7% | The Times Group

PCL profit down 7% | The Times Group: PCL profit down 7%
Posted By: Tom Sangalaon: April 25, 2019In: BusinessNo Comments
By Taonga Sabola:

Malawi Stock Exchange-listed conglomerate Press Corporations Limited (PCL) has posted a 7 percent drop in profitability for the year ended December 31 2018.

In a statement on Wednesday, the firm says it recorded an after-tax profit of K36.71 billion in 2018, down from K39.67 billion in 2017.

Mining in Malawi

Mining in Malawi is one of the best sources of news on mining in Malawi.

https://mininginmalawi.files.wordpress.com/2019/04/mining-trade-review-march-2019-electronic-copy.pdf

SAPP faces Herculean task to achieve mandate ... Angola, Malawi and Tanzania still reluctant to join || The Southern Times

SAPP faces Herculean task to achieve mandate ... Angola, Malawi and Tanzania still reluctant to join || The Southern Times: The SAPP has an installed capacity of 62 GW (62 000 MW) but only 54 GW (54 000 MW) is available at the moment.

SAPP has a mandate of providing a forum for the development of a world-class, robust, safe, efficient, reliable and stable interconnected electrical system in the southern African region.

However, the regional power pool is facing challenges amid poor economic performances by member states.� Other challenges include the reluctance by Angola, Malawi and Tanzania to interconnect their national power grids onto the SAPP grid.

South Africa’s Eskom, which is SAPP’s bigg

Firms pressure government to restrict oil seed exports | The Times Group

Firms pressure government to restrict oil seed exports | The Times Group: The country’s major oil seed producers have been pushing the government to put a restriction on the exports of oilseed, especially soya, in an attempt to keep prices down, Times Business has established.

Among other things, the firms are said to be pushing for the imposition of $100 per tonne levy on soya bean exports so that domestic prices fall.

But the move has attracted the wrath of agriculture stakeholders who have described the move as retrogressive and in conflict with the principles of Control of Goods Act.

Business | The Times Group

Business | The Times Group: Public debt rise worries industry
Posted By: Tom Sangalaon: April 25, 2019In: BusinessNo Comments

By William Kumwembe: The Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has reiterated that public debt is stifling the country’s economic growth strides. In its 2019 firs... Read more

India and Africa to jointly set up agricultural institute in Malawi

India and Africa to jointly set up agricultural institute in Malawi: Ministry of External Affairs in India has signed an MoU agreement with National Bank for Agriculture and Rural Development Consultancy Service (NABCONS) to set up India-Africa Institute of Agriculture and Rural Development (IAIARD) in Malawi
The move aims to enhance capacity in the areas of agro-financing and entrepreneurship development for African countries. (Image source: IBM Research/Flickr)

The move aims to complement the efforts of the Government of India to enhance capacity in the areas of agro-financing and entrepreneurship development for African countries.

IAIARD will be a Pan-African Institute wherein trainees not only from Malawi but also from other African countries, will receive training to develop their human resources and build their capacity.

Rebasing GDP winds up December—NSO - The Nation Online

Rebasing GDP winds up December—NSO - The Nation Online: Rebasing GDP winds up December—NSO
Grace Phiri
April 23, 2019
0 Comments
National Statistical Office (NSO) says it will complete rebasing the country’s gross domestic product (GDP) in December this year.

The exercise seeks to capture the current structure of the economy.

In a written response, NSO spokesperson Kingsley Manda said on Friday the exercise, which is included in the economic census, will cost K800 million and is jointly being funded by the African Development Bank (AfDB) and Malawi Government.

Malawi Housing Corporation Builds New Houses

Doesn't MHC  have any access to architects? This design has been with us forever and makes for tedious neighborhoods



30f99a5714eb4c0a2c5a56d287033306_XL.jpg (900�481)

Just comp[are with this from Ghana

http://johnmahama2016.blogspot.com/2016/09/housing-under-president-mahama.html

Or Dar Es Salaam
https://www.thecitizen.co.tz/magazine/Watumishi-Housing-targets-diaspora/1840564-4960402-5ixyao/index.html

Malawian Airlines to sustain Chileka route, says official - The Nation Online

Malawian Airlines to sustain Chileka route, says official - The Nation Online: Malawian Airlines to sustain Chileka route, says official
Nation Online April 22, 2019 0 Comments
Malawian Airlines says it will sustain operations at Chileka International Airport by introducing a direct flight to Johannesburg, South Africa, despite the main runway being closed for renovations.

The Department of Civil Aviation (DCA) last week announced that it will close the main runway for three months from April 24 July 23 2019 for renovations

World Bank to help Malawi commercialise agriculture - The Nation Online

World Bank to help Malawi commercialise agriculture - The Nation Online: World Bank to help Malawi commercialise agriculture
Nation Online April 23, 2019 0 Comments
Ministry of Agriculture, Irrigation and Water Development says the K61 billion loan secured from the World Bank to finance Agricultural Commercialisation (Agcom) will help to commercialise the sector.

Speaking last Thursday in Salima on the sidelines of a stakeholders sensitisation meeting, the ministry’s director of planning and development Alex Namaona said the five-year Agcom is backbone for wealth creation.

Rebasing GDP winds up December—NSO - The Nation Online

Rebasing GDP winds up December—NSO - The Nation Online: Rebasing GDP winds up December—NSO
Grace Phiri April 23, 2019 0 Comments
National Statistical Office (NSO) says it will complete rebasing the country’s gross domestic product (GDP) in December this year.

The exercise seeks to capture the current structure of the economy.

In a written response, NSO spokesperson Kingsley Manda said on Friday the exercise, which is included in the economic census, will cost K800 million and is jointly being funded by the African Development Bank (AfDB) and Malawi Government.

Property tax reform increases municipal revenue in Mzuzu, Malawi

Authors: Alexander Chirambo & Rhiannon McCluskey

Date: Friday, 1 March 2019

Blog

Mzuzu is the third largest city in Malawi. Before 2013, it collected very little property tax per year: K50 million ($68,000 USD) on average. However, with the implementation of the ReMoP property tax system, revenues have increased seven-fold to over 350 million in 2018, which has allowed the city to improve services including garbage collection, street lighting and road grading significantly.

Growth in property tax collection by Mzuzu, 2010-2018

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Malawi collateral prohibitive—AfDB

By Taonga Sabola:

The 2019 Regional Economic Outlook for Southern Africa by the African Development Bank has revealed that Malawi is among four countries in the region with prohibitive collateral demands.

The outlook says in Malawi—alongside, eSwatini, Zambia, and Zimbabwe—the collateral demanded by banks from borrowers is more than twice the loan value.

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Malawi: JDA signed for hydropower plant

April 15, 2019 

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IFC InfraVentures has signed a Joint Development Agreement (JDA) with the Government of Malawi to develop a hydropower plant on the Shire River.

The agreement signed last week is in coordination with the World Bank and with the support of SN Power AS and Power Africa.

According to a news announcement, the Mpatamanga hydropower project wAccording to a news announcement, the Mpatamanga hydropower project will be competitively tendered by the Government of Malawi.ill be competitively tendered by the Government of Malawi.

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Malawi seal K94bn electricity deal with Mozambique to start 2022 
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April 122019 Green Muheya-Nyasa Times fisttocomment 

Malawi has signed technical and commercial agreements with Mozambique for the sharing of power in a bid to address a 

chronic blackouts hitting the country that will give Electricity Supply Corporation of Malawi (Escom) an opportunity to buy 

200 megawatts (MW) of power from the Southern Africa Power Pool (Sapp) starting in 2022. 

Our Comment: Who is setting the debate agenda?

Many people have complained on social media that the Presidential debates have not addressed the fundamental issues facing Malawi:  The poor performance of the agriculture sector, stagnant industry, underutilized infrastructure such Nacala, missing structural change in the economy, urbanization without jobs.   Why the huge gap between the question raised by the organizers of the debate and the general public’s concern over economic failure?

First, follow the money. The debates have been funded by aid donors and it is clear they have steered the agenda, including the questions the moderator would pose.  

Donors stopped worrying about economic development in the 1980s. For much of the 1980s, their concern was stabilization. And they managed to stabilize African economies to near death as economic growth stagnated. In The 1990s, they shifted towards what is known as “post-development” issues – Gender, environment, sexuality Human Rights, Access to Justice, Good Governance, Rule of Law and Security, etc

In the case of Malawi, they chose to carry out their new agenda through NGO on whom they spend K500 billion Kwacha. Much of the money is spent on endless workshops and high salaries.  Had just half of this money be spent on infrastructure (roads, electricity, school building) we would be getting somewhere.

With this huge finding, the donor-NGO agenda has simply overwhelmed the national agenda which is still focused on problems of economic development and poverty elimination Donors are interest in “post-developmental” and our NGOs and media are trapped within dead-end agenda

These are obviously noble ideas but it is clear that they are only releasable if certain material conditions (including life) are met.  In Malawi, we still have to worry about production, structural change, infrastructure, etc. Indeed the greatest threat to our democracy and human rights regime is our inability to meet the substantive demands of our people.

The composition of the task force for the debate is telling. The task force consists of MISA Malawi, Malawi Broadcasting Cooperation (MBC), Times Group, Zodiak Broadcasting Station (ZBS) and Civil Society Organisations including Centre for Multiparty Democracy (CMD), Democracy Works Foundation (DWF), Civil Society Agriculture Network (CISANET). Catholic Commission for Justice and Peace (CCJP), Malawi Law Society (MLS), Public Affairs Committee (PAC), Voluntary Service Organization (VSO), National Initiative for Civic Education (NICE) Trust, and the National Democratic Institute (NDI).  The usual suspects.
There were no organizations from the productive sectors: no unions, no employers association, no cooperative. Donors do not usually like membership organizations.

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Malawi 2018/19 maize output up 24 pct, minimal effect from cyclone Idai- minister

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BLANTYRE, April 9 (Reuters) - Malawi's maize output increased by just over 24 percent in the 2018/19 farming year so far, boosted by favourable weather conditions and government subsidies, the agriculture minister said on Tuesday.

Production rose to 3.355 million metric tonnes from 2.697 million metric tonnes in the 2017/18 farming season, according to the second round of the 2018/19 Agricultural Production Estimate Survey (APES), Joseph Mwanamvekha, minister of Agriculture, Irrigation and Water Development said.

In February, the government had estimated production of 3.387 million metric tonnes in the 2018/19 season which ends in May.

By Chimwemwe Mangazi:

MPIKU PROFIT UP

Mpico Plc has posted a K6.8 billion profit after tax for the year ended December 31 2018 compared to a K5.1 billion profit recorded the previous year.

This represents a 33 percent profit jump.

Mpico attributes the profit rise to reduced rental arrears by the government and increased occupancy levels at its Gateway Mall in Lilongwe.

A statement of financial results for the period published Thursday shows that as at December 2018, the government paid the landlord K5.7 billion of the K8 billion rental arrears recorded in December 2017.

Uranium Correction: Problem or Opportunity?

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Uranium prices dropped sharply this week, putting in a new low for the year. As you can see in the chart below, this isn’t any kind of new low, and the overall trend since early 2017 remains upward.