Power outages to hinder growth prospects—Govt - The Nation Online

Power outages to hinder growth prospects—Govt - The Nation Online: "Power outages to hinder growth prospects—Govt
Grace Phiri May 12, 2018 0 Comments
Government has admitted that delayed recovery of power generation will put constraints on the 2018 growth prospects, which has been projected at 4.5 percent.

According to the published 2018 Economic and Fiscal Policy Statement by the Ministry of Finance, Economic Planning and Development, this is on top of subdued growth anticipated from the agricultural sector which is slower that last year.

"



'via Blog this'

Treasury upbeat On MGDS III - The Nation Online

Treasury upbeat On MGDS III - The Nation Online: "Treasury upbeat On MGDS III
Nation Online May 16, 2018 0 Comments
 

Ministry of Finance, Economic Planning and Development has expressed optimism on the implementation of the Malawi Growth and Development Strategy (MGDS) III with funding from government and donors.

In an interview on Friday, Secretary to the Treasury Ben Botolo said government intends to finance MGDS III—the overarching development strategy—through revenue generated from domestic resources which will be complemented with resources from concessional borrowing.

He said Treasury is banking on the private sector involvement in financing of flagship projects through the Public-Private Partnership (PPP) arrangements."



'via Blog this'

Nico on course with hotel project | The Times Group

Nico on course with hotel project | The Times Group: "Nico on course with hotel project
Posted By: Chimwemwe Mangazion: May 11, 2018In: BusinessNo Comments
Nico Holdings Limited has said plans are at an advanced stage to commence construction of a $45 million hotel in Lilongwe as part of the company’s strategy to expand its accommodation business in the country.

Nico Holdings Chief Executive Officer, Vizenge Kumwenda, said the conglomerate will implement the project through one of its subsidiaries, Blantyre Hotels Limited. Further, he said Nico would partner a South African company to develop the property.

He said the project is likely going to commence before the end of this year."



'via Blog this'

Private sector credit rebounds in March | The Times Group

Private sector credit rebounds in March | The Times Group: "Private sector credit rebounds in March
Posted By: Taonga Sabolaon: May 16, 2018In: BusinessNo Comments
Private sector borrowing rebounded in March 2018 following four consecutive months of decline, figures from the Reserve Bank of Malawi (RBM) show.

This could be partly attributed to improvements in business activity during the month of March.

In its March 2018 Monthly Economic Report released on Thursday, RBM says credit to the private sector increased by K8.2 billion to K398 billion in March 2018. This was slightly higher than K396.4 billion recorded in March 2017."



'via Blog this'

Firm sees rising current account deficit | The Times Group

Firm sees rising current account deficit | The Times Group: "Firm sees rising current account deficit
Posted By: William Kumwembeon: May 16, 2018In: BusinessNo Comments
Investment management and advisory firm, Nico Asset Managers, says it expects Malawi’s current account deficit to rise to 14.5 percent of the Gross Domestic Product (GDP) in 2018, from 12.5 percent in 2017.

A current account deficit is a measurement of a country’s trade where the value of goods and services it imports exceeds the value of goods and services it exports.

The anticipated rise in current account deficit comes as the performance of the country’s exports is projected to be hindered by unfavourable weather conditions, infrastructure challenges, lack of finance for farmers and low agricultural technology."



'via Blog this'

Japan courts Malawi for renewal of Mulanje rare-earth licence | Mining in Malawi

Japan courts Malawi for renewal of Mulanje rare-earth licence | Mining in Malawi: "Japan courts Malawi for renewal of Mulanje rare-earth licence

By Chiku Jere

Japan has asked Malawi to renew an exclusive prospective licence for Springstone Limited, a joint venture between Japan, Oil, Gas and Metals National Corporation (JOGMEG) and Canada’s Gold Canyon Resources, which is exploring for rare earth elements at Chambe Basin in Mulanje Mountain.

This is contained in a communique detailing engagements of Minister of Natural Resources, Energy and Mining, Aggrey Masi, in Cape Town, South Africa, where he led a Malawi delegation that attended the 2018 Investing in Africa Mining Indaba."



'via Blog this'

Luangwa Bridge offer timely – Zambia Daily Mail

Luangwa Bridge offer timely – Zambia Daily Mail: "THAT the Japanese government has pledged to construct a bridge across Luangwa River on the Great East Road to replace the current rather old one is an opportunity which Zambia should quickly seize, considering the advantages that will come along with the project.
Not only is the structure a vital access point within the country for the Eastern Province, it also provides a link to Mozambique, which is about two kilometres away, and Zimbabwe (about 60km from the bridge) and Malawi much farther.
It is 250km from the nearest city, Lusaka, and is located in a remote area, where its approaches have to contend with steep rugged slopes and deep ravines covered in forest or thick bush. Part of its history is that, since it was first built in 1932 through Beit Trust’s support, it twice suffered destruction as revenge by colonialists because of Zambia’s support for her neighbouring countries’ freedom fighters."



'via Blog this'

Debt policy to reduce Economic risks—IMF - The Nation Online

Debt policy to reduce Economic risks—IMF - The Nation Online:



Debt policy to reduce Economic risks—

IMF

Grace Phiri @ May 15, 2018 o Comments

Treasury's move to develop a medium-term strategy on public debt management is expected to

reduce risks to the economy brought in largely due to a lack of a coherent direction on debt, the

International Monetary Fund (IMF) has said.

In a written response to a questionnaire yesterday, IMF resident representative Jack Ree said

addressing rising public debt, which was also undercutting the efficiency of the management of

budget, requires a multi-faceted policy response.





'via Blog this'

Debt policy to reduce Economic risks—IMF - The Nation Online

Debt policy to reduce Economic risks—IMF - The Nation Online:



Debt policy to reduce Economic risks—

IMF

Grace Phiri @ May 15, 2018 o Comments

Treasury's move to develop a medium-term strategy on public debt management is expected to

reduce risks to the economy brought in largely due to a lack of a coherent direction on debt, the

International Monetary Fund (IMF) has said.

In a written response to a questionnaire yesterday, IMF resident representative Jack Ree said

addressing rising public debt, which was also undercutting the efficiency of the management of

budget, requires a multi-faceted policy response.





'via Blog this'

Ethanol project nears completion | The Times Group

Ethanol project nears completion | The Times Group: "Ethanol project nears completion
Posted By: William Kumwembeon: May 10, 2018In: BusinessNo Comments
Malawi will soon commission the Ethanol Vehicles Driven Project (EDVP), whereby motorists will opt for ethanol as a stand-alone fuel or its blend with petrol, following completion of a pricing mechanism of the fuel, the Malawi Energy Regulatory Authority (Mera) has said.

Mera Chief Executive Officer, Collins Magalasi, said last week that a study that was commissioned to determine the pricing mechanism has since been concluded"



'via Blog this'