MALAWI: Remaining in the Dark - IPS ipsnews.net

MALAWI: Remaining in the Dark - IPS ipsnews.net: "Remaining in the Dark
By Claire Ngozo

LILONGWE, Aug 11, 2011 (IPS) - Malawi’s attempts to improve trade and investment in the country have taken a huge step backwards following a decision by the Millennium Challenge Corporation (MCC), a United States government foreign aid agency leading the fight against global poverty, to put on hold 350.7 million dollars meant to improve the country’s flawed energy sector."

Growers Stuck on Contract Termination

Growers Stuck on Contract Termination: "Growers Stuck on Contract Termination

Written by Angela Mkandawire
Sunday, 07 August 2011 08:24

Tobacco sales

Growers from Nkhata Bay are stranded as they do not know where they will sell thousands of bales of dark fired tobacco following the termination of a contract they entered into with Limbe Leaf Tobacco Company.


There are also fears that growers may lose tobacco that transporters took to the market earlier.

Justifying the decision to terminate the contract, officials from Limbe Leaf Company say the organization has purchased the levels of dark fired tobacco it longed to acquire as per the said contract agreement."

IFC Capitalization Fund and Africa Capitalization Fund invest in NBS Bank to Support Malawi's SME, Agriculture Sectors, news, StarAfrica.com

IFC Capitalization Fund and Africa Capitalization Fund invest in NBS Bank to Support Malawi's SME, Agriculture Sectors, news, StarAfrica.com: "
LILONGWE, Malawi, August 9, 2011/African Press Organization (APO)/ -- IFC Capitalization Fund and...

LILONGWE, Malawi, August 9, 2011/African Press Organization (APO)/ -- IFC Capitalization Fund and Africa Capitalization Fund will invest up to $10 million in equity in NBS Bank, Malawi's third largest bank in terms of loans and deposits, to support its capital base and help it increase lending to small and medium enterprises, including those in the agriculture sector."

Malawi awaits decision on IMF aid programme revival | Agricultural Commodities | Reuters

Malawi awaits decision on IMF aid programme revival | Agricultural Commodities | Reuters: "Malawi awaits decision on IMF aid programme revival

LILONGWE Aug 9 (Reuters) - Malawi has yet to see whether its decision to devalue the kwacha will enable stalled loan negotiations with the International Monetary Fund (IMF) to resume, the country's central bank governor said on Tuesday.

Malawi has devalued the kwacha by about 10 percent against the U.S. dollar to 165, although the new rate is still well short of the currency's value on the black market, where it is worth around 185 to the dollar"

Malawi cbank devalues currency by 10 pct: source | African news, analysis and opinion – The Africa Report.com

Malawi cbank devalues currency by 10 pct: source | African news, analysis and opinion – The Africa Report.com: "Malawi cbank devalues currency by 10 pct: source
0 August 8, 2011, 11:40 am

JOHANNESBURG (Reuters) - Malawi's central bank has devalued its currency by about 10 percent to 165 against the U.S. dollar, a Bank source told Reuters on Monday. The Malawian kwacha has been pegged at 150 to the dollar since a devaluation from 138.5 at the end of 2009."

Malawi Aid Suspension After Protests May Curb Economic Growth, Investment - Bloomberg

Malawi Aid Suspension After Protests May Curb Economic Growth, Investment - Bloomberg: "Malawi Aid Suspension After Protests May Curb Economic Growth, Investment
Q
By Mike Cohen - Jul 27, 2011 1:27 PM GMT

The suspension of U.S. and U.K. aid to Malawi, which depends on donors to fund as much as 40 percent of its budget, is likely to deter investment and undermine a five-year economic boom in the southern African nation."

Malawi Aid Suspension After Protests May Curb Economic Growth, Investment - Bloomberg

Malawi Aid Suspension After Protests May Curb Economic Growth, Investment - Bloomberg: "Malawi Aid Suspension After Protests May Curb Economic Growth, Investment
Q
By Mike Cohen - Jul 27, 2011 1:27 PM GMT

The suspension of U.S. and U.K. aid to Malawi, which depends on donors to fund as much as 40 percent of its budget, is likely to deter investment and undermine a five-year economic boom in the southern African nation."

Globe Metals & Mining to kick off 2011 exploration at Salambidwe REE Project in Malawi - Proactiveinvestors (UK)

Globe Metals & Mining to kick off 2011 exploration at Salambidwe REE Project in Malawi - Proactiveinvestors (UK): "Globe Metals & Mining to kick off 2011 exploration at Salambidwe REE Project in Malawi
12th Jul 2011, 4:17 am
Globe Metals & Mining (ASX: GBE) will commence the 2011 exploration program this quarter at its Salambidwe rare earth elements (REE) Project in southern Malawi.

As Salambidwe is a virgin rare earth prospect, the program will target the confirmation and potential extension of broad mineralisation encountered in the 2010 rock chip and soil sampling program."

Paladin's uranium output climbs, lowers guidance

Paladin's uranium output climbs, lowers guidance: "Paladin's uranium output climbs, lowers guidance

TORONTO (miningweekly.com) – Paladin Energy, the ASX- and TSX-quoted uranium miner, said on Wednesday that production for the year ended June rose 32% to 5.7-million pounds, but was lower than expected because of heavy rainfall at its Namibian mine and “mechanical issues” at the Kayelekera operation in Malawi."

AFP: Malawi mum on lost US aid

AFP: Malawi mum on lost US aid: "Malawi mum on lost US aid
(AFP) – 12 hours ago
BLANTYRE — Malawi kept mum Wednesday on the US suspension of a $350 million grant after last week's deadly protests, but local media lashed President Bingu wa Mutharika over the latest blow to the poor nation."