K1.1 trn Afreximbank facility on track—RBM – The Nation Online

K1.1 trn Afreximbank facility on track—RBM – The Nation Online: The Reserve Bank of Malawi (RBM) says the $1.4 billion (about K1.1 trillion) Afreximbank investment facility is registering implementation progress as further follow up Memorandum of Understandings (MOUs) with local firms were recently signed with some in the pipeline.

Earlier this year Afreximbank president Benedict Oramah visited the country and held a series of meetings with local private sector representatives. He also met President Peter Mutharika to announce the provision of the facility.

MPs approve K113 billion loans | The Times Group

MPs approve K113 billion loans | The Times Group: Malawi’s debt profile, currently at K2.9 trillion, is likely to hit K3 trillion in the next financial year as Parliament Tuesday authorised government to obtain two more loans amounting to K113 billion from China for internet development.

The loans—$99 million (approximately K72 billion) from Industrial and Commercial Bank of China and $56.98 million (approximately K41 billion) from Exim Bank of China—received less scrutiny from Members of Parliament (MPs), a departure from previous experiences.

With massive absenteeism prevalent during the day’s sitting, only a few MPs, notably Dedza �East representative Juliana Lunguzi, expressed concern over excessive borrowing which they argued is saddling future generations with unsustainable loans.