African Governments Are Paying for the World Bank’s Mauritius Miracle – Foreign Policy

African Governments Are Paying for the World Bank’s Mauritius Miracle – Foreign Policy: OCTOBER 18, 2018, 11:05 AM PORT LOUIS, Mauritius—The security guard at Malawi Mangoes’ registered address at an office at the St Louis Business Centre in downtown Port Louis is not sure if we’re in the right place. The staff at the front desk are bewildered by our request to speak to someone from the company. The otherwise modest office block has flat-screen televisions on the walls and glossy magazines with titles like Savile Row and Family Business on a table in a small waiting area. After about 20 minutes, a woman in a suit appears, bearing apologies—she had been out to lunch. At first, she seems to mistake us for investors in Malawi Mangoes. We jump in to clarify: We’re journalists looking to talk to someone from the company, which in 2014 received a $5 million loan from the private investment arm of the World Bank, the International Finance Corporation (IFC). Our interlocutor appears confused, as if she knows little about the business, or why we might be attempting to learn more about it in Port Louis, Mauritius.

Malawi Govt Gets K5.6 Billion From Mining Sector - Activist Calls for Enactment of New Minerals Bill - allAfrica.com

Malawi Govt Gets K5.6 Billion From Mining Sector - Activist Calls for Enactment of New Minerals Bill - allAfrica.com: The Malawi government received over K5.3 billion from the mining sector in the 2015/2016 financial year, says the Malawi Extractive Industries Transparency Initiative (MWEITI) report for the year in question launched on Wednesday night in Lilongwe.

It was revealed during the launch that Raiply Malawi Limited, the company which processes timber products in Viphya Plantation, paid most of this tax.

This is the second MWEITI report since Malawi began subscribing to Extractive Industries Transparency Initiative (EITI) standards.

Malawi shines on tax reforms� - The Nation Online

Malawi shines on tax reforms� - The Nation Online: The 2018 Oxfam and Development Finance International Commitment to Reducing Inequality (CRI) Index has ranked Malawi among the best 10 countries in the world in designing progressive tax systems aimed at reducing inequalities.

The report shows that Australia, Denmark and South Africa occupy the first three positions in that order, with Malawi on position seven while near the bottom of the tax index are Bahrain and Vanuatu, which have no corporate or personal income tax

Community threaten to close Optichem mine - The Nation Online

Community threaten to close Optichem mine - The Nation Online: Disgruntled community in Phalombe District have threatened to close Thundulu Mine to force Optichem (Malawi) Limited to invest in local projects.

The locals, speaking during a fact-finding meeting organised by Centre for Policy and Advocacy (Cepa), said they would block roads to stop trucks from hauling rock phosphate from the hills in Phalombe North East.

MCTU push for minimum wage increase - The Nation Online

MCTU push for minimum wage increase - The Nation Online: Barely two weeks after the Malawi Energy Regulatory Authority (Mera) revised upwards fuel pump prices, the Malawi Congress of Trade Union (MCTU) is pushing for the revision of the minimum wage to match what it calls the current economic situation. MCTU Secretary general Denis Kalekeni argued that the fuel pump price increase has led to the rise of transport fares and other essential commodities pushing workers at a disadvantage.

Nyasa partners South Africa firm | The Times Group

Nyasa partners South Africa firm | The Times Group: Local cigarette manufacturer, Nyasa Manufacturing Company (NMC), has entered into a partnership with a South Africa- based multinational firm, Gold Leaf Tobacco Limited.

The partnership would see Malawi becoming a regional hub of cigarette production for the firm.

Reserve Bank of Malawi sees inflation averaging 9% in 2018 | The Times Group

Reserve Bank of Malawi sees inflation averaging 9% in 2018 | The Times Group: The Reserve Bank of Malawi (RBM) has said it expects Malawi’s inflation to average nine percent this year.

The prediction comes at a time Malawi’s inflation is threatening to run away following recent electricity and fuel price hikes which have driven up transport costs.

Malawi Revenue Authority requires installation of 300KVA UPS | ESI-Africa.com

Malawi Revenue Authority requires installation of 300KVA UPS | ESI-Africa.com: The Malawi Revenue Authority (MRA) has budgeted public funds to be used for the procurement of supply, delivery and installation of a 300KVA uninterrupted power supply system (UPS) for Msonkho House in Blantyre.

The Chairperson, Internal Procurement and Disposal of Assets Committee of Malawi Revenue Authority now invites sealed bids from eligible and qualified bidders for the supply and delivery of the above mentioned.

Malawi Stock Exchange pens Escom on borrowing | The Times Group

Malawi Stock Exchange pens Escom on borrowing | The Times Group: Malawi Stock Exchange (MSE) has written Electricity Supply Corporation of Malawi (Escom) and Secretary to the Treasury over the power utility firm’s proposal to borrow K30 billion from the money market.

MSE Chief Executive Officer, John Kamanga, confirmed in an interview Tuesday that his institution penned Escom a fortnight ago.

Escom revises tariff structure | The Times Group

Escom revises tariff structure | The Times Group: Electricity Supply Corporation of Malawi (Escom) has revised its base tariff structure following a 31.8 percent electricity tariff adjustment nod by Malawi Energy Regulatory Authority (Mera).

Escom applied for a 60 percent electricity tariff adjustment.

Escom has since introduced a life-line tariff in the new structure to cater for low income households to access electricity at lower rates, while reducing the subsidy for other sections of the consumers.