Donors disagree with Goodall on budget support, corruption - The Nation Online

Donors disagree with Goodall on budget support, corruption - The Nation Online: "Donors disagree with Goodall on budget support, corruption
Suzgo Chitete May 19, 2018 0 Comments
As the 2017/18 National Budget paints a rosy picture of donor-come back for direct budget support due to improved public financial management, major donors have expressed concern with widespread corruption in the public service.

The donors were reacting to the budget statement presented in the august House in Lilongwe by Finance Minister Goodall Gondwe yesterday."



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EU says Malawi yet to qualify for budget support | Malawi 24 - Malawi news

EU says Malawi yet to qualify for budget support | Malawi 24 - Malawi news: "EU says Malawi yet to qualify for budget support 0
BY MALAWI24 REPORTER ON MAY 19, 2018 POLITICS
The European Union (EU) says there are various measures that Malawi government need to take for the organisation to resume budgetary support.

Head of delegation to Malawi Marchel Gerrmann said this when reacting to the budget statement delivered by Minister of Finance Goodall Gondwe on Friday."



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UPDATE 1-Malawi says World Bank, EU to unlock suspended budget aid | Reuters

UPDATE 1-Malawi says World Bank, EU to unlock suspended budget aid | Reuters: "UPDATE 1-Malawi says World Bank, EU to unlock suspended budget aid
Reuters Staff

2 MIN READ

LILONGWE, May 18 (Reuters) - Malawi’s finance minister said on Friday that economic stability would unlock budget support from the country’s western donors which had been suspended over graft allegations.

Finance Minister Goodall Gondwe said that the county had achieved economic stability and attained the desired goal of the International Monetary Fund’s approval of a $112.3 million loan which in turn has helped unlock frozen aid."



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‘BUDGET FAVOURS CHIEFS’ – PVT SECTOR - The Express

‘BUDGET FAVOURS CHIEFS’ – PVT SECTOR - The Express: "THE PRIVATE sector in Malawi is describing the K1.5 trillion proposed national budget presented by finance minister, Goodall Gondwe as a total neglect of the sector and a waste of time.

Head of the sector in Malawi, Chancellor Kaferapanjira reacted immediately after Gondwe presented the budget in parliament this afternoon in the capital, Lilongwe.

An extremely disheartened Kaferapanjira summarised the proposed national expenditure as: “a budget for chiefs.”"



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Chikwawa cane cutters strike over low wages - The Nation Online

Chikwawa cane cutters strike over low wages - The Nation Online: "Chikwawa cane cutters strike over low wages
Steve Chirombo May 18, 2018 0 Comments
There was commotion on Wednesday in Chief Lundu’s area in Chikwawa District when cane cutters burned down part of Illovo Sugar (Malawi) Limited cane fields and blocked the M1 in protest against low wages.

Chikwawa Cane Cutters Contractors spokesperson Louis Kasuzweni said the cane cutters also destroyed their  contractors’ offices."



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Escom speaks on extended power outages - The Nation Online

Escom speaks on extended power outages - The Nation Online: "YOU ARE HERE: Home → Escom speaks on extended power outages

Escom speaks on extended power outages
Llyod chitsulo May 18, 2018 0 Comments


The Electricity Supply Corporation of Malawi (Escom) has admitted challenges in power supply to its customers despite the procurement of diesel-powered generators meant to ease outages.

Escom procured the diesel-powered generators from Aggreko, which President Peter Mutharika commissioned in January this year, to reduce load shedding hours to a maximum of six hours per day.

But in a statement issued yesterday, Escom says an increase in the demand for electricity due to the onset of the cold season and the oncoming tobacco processing season has affected power supply even with the presence of gensets."



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PCL acquires 10% stake in Sunbird Tourism | The Times Group

PCL acquires 10% stake in Sunbird Tourism | The Times Group: "PCL acquires 10% stake in Sunbird Tourism
Posted By: Times Correspondenton: May 18, 2018In: BusinessNo Comments
Conglomerate Press Corporation Limited (PCL) plc has acquired a 10 percent stake in Sunbird Tourism plc, extending its investment interests into the tourism sector.

PCL Group Chief Executive Officer George Partridge confirmed the acquisition in an interview yesterday.

“Yes it is true that we have acquired a 10 percent shareholding in Sunbird Tourism plc. We have been talking about expanding our investment base to include tourism for some time and we thought this was a good starting point,” Partridge said."



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Mkango Resources Signs Two Investment Agreements With Talaxis - Finance News - London South East

Mkango Resources Signs Two Investment Agreements With Talaxis - Finance News - London South East: "Mkango Resources Signs Two Investment Agreements With Talaxis
Fri, 18th May 2018 10:37

LONDON (Alliance News) - Mkango Resources Ltd said Friday it has signed an agreement with shareholder Talaxis, a Noble Group subsidiary, in which Talaxis will acquire a 75% interest in Lancaster Exploration Ltd and 49% in Maginito Ltd.


Lancaster Exploration holds the licence for the Songwe Hill rare earths project in Malawi, and Maginito is a company focused on locating downstream opportunities related to the rare earths supply chain."



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Globe Metals & Mining Limited has exclusive prospecting licence for niobium in Malawi renewed

Globe Metals & Mining Limited has exclusive prospecting licence for niobium in Malawi renewed: "Globe Metals & Mining has exclusive prospecting licence for niobium in Malawi renewed
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15:37 17 May 2018
The company’s shares have jumped 23% on news of the renewal for a further two years.

The prospecting licence is next to the company’s mining lease application
Globe Metals & Mining Limited (ASX:GBE) shares jumped on news that an exclusive prospecting licence for the Kanyika Niobium Project in Malawi has been renewed.

The company is a leading ASX gainer today with shares up 23% to 1.6 cents.

Malawi’s Minister of Natural Resources, Energy and Mining has formally notified the company the EPL0421/15 has been renewed for a further two years from May 22, 2018."



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IMF expects 2018 budget to mirror ECF programme | The Times Group

IMF expects 2018 budget to mirror ECF programme | The Times Group: "MF expects 2018 budget to mirror ECF programme
Posted By: William Kumwembeon: May 17, 2018In: BusinessNo Comments
The International Monetary Fund (IMF) has said it expects the 2018/19 national budget to be consistent with the new Extended Credit Facility (ECF) programme.

Finance Minister, Goodall Gondwe, is tomorrow expected to get down on his knees and ask impoverished Malawians to allow him use trillions of their hard-earned taxes between July 2018 and June 2019.

Late last month, the IMF approved another three-year ECF programme for Malawi valued at $112.3 million which aims to entrench macroeconomic stability and foster higher, more inclusive and resilient growth.

IMF Malawi Resident Representative, Jack Ree, said in an interview that the fund expects Lilongwe to deploy strong remedial measures to address the widening budget deficit."



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