Icon shares gain on listing day - The Nation Online

Icon shares gain on listing day - The Nation Online: It was all smiles yesterday for shareholders of newly-formed property development and management firm, Icon Properties plc, as they saw the share price increase from K8.75 to K12 per share on listing day on the Malawi Stock Exchange (MSE).

Market analysts have since described Icon Properties’ listing as a significant feat which will provide diversified products on MSE.

The listing, which broke MSE’s 10-year listing drought, followed a successful Initial Public Offer (IPO) of 1.68 billion shares that raised K14.7 billion from investors

Bad loans close 2018 at 6.1% | The Times Group

Bad loans close 2018 at 6.1% | The Times Group: The country’s level of non-performing loans (NPLs) hit a record low when they fell to 6.1 percent in December 2018, Reserve Bank of Malawi (RBM) Governor, Dalitso Kabambe, has said.

Speaking during the launch of Malawi Stock Exchange Automation, Microfinance Institution Hub and Natswitch Operationalisation, Kabambe said the level of NPLs came down from 19.9 percent at the beginning of 2018 and against a regulatory requirement of 5 percent.

Sovereign Metals Limited receives high-grade rutile results from Malingunde in Malawi

Sovereign Metals Limited receives high-grade rutile results from Malingunde in Malawi: Sovereign Metals Limited (ASX:SVM) has received high-grade, broad and widespread rutile results from re-assaying of historical hand-auger holes at the Malingunde project in Malawi.

There were 125 shallow hand-auger drill holes selected for re-assay to assess the overall rutile potential across the Malingunde tenement area.


High-grade results
Results demonstrate that rutile mineralisation is likely to be present over vast areas and is hosted in soft, free-dig saprolite.

There were 26 holes, or 21%, with a weighted average grade of 2.34% titanium oxide and 96 holes, or 78%, with a weighted average grade of 1.89%.

Public investment under scrutiny - The Nation Online

Public investment under scrutiny - The Nation Online: Public investment under scrutiny
Steve Chilundu January 23, 2019 0 Comments
Malawi is lagging behind� in the implementation of public investment compared to neighbouring countries in the southern Africa region, the International Monetary Fund (IMF) has said.

A recently released IMF technical assessment report on Public Investment and Management Assistance (Pima) measured the country’s performance on an index of the output of public investment compared to budget allocation

Inflation back to single digit | The Times Group

Inflation back to single digit | The Times Group: By Taonga Sabola:

Just like a pendulum, Malawi’s headline inflation swung back to single digit in December as it hit 9.9 percent after just a single month in double digit bracket, the National Statistical Office (NSO) has said.

In November, headline inflation had threatened to runaway, hitting 10.1 percent as food and fuel prices surged

AfDB puts Malawi growth at 5.5 percent in 2019 - The Nation Online

AfDB puts Malawi growth at 5.5 percent in 2019 - The Nation Online: AfDB puts Malawi growth at 5.5 percent in 2019
Orama Chiphwanya January 21, 2019 0 Comments
The African Development Bank (AfDB) has projected that Malawi’s five percent economic growth in 2018 and 5.5 percent in 2019 is more positive, given the stable economy, though the country remains vulnerable to external shocks and fiscal slippages.

The forecast, contained in this year’s flagship publication of the African Economic Outlook (AEO) released by the bank Thursday, is slightly higher than government’s forecast of 4.5 percent in 2018.

Egenco positive on energy generation | The Times Group

Egenco positive on energy generation | The Times Group: The Energy Generation Company (Egenco) has said the outlook for energy generation in 2019 remains promising following the completion of installation of generators in Blantyre and Lilongwe that will be producing a combined 30 megawatts (MW).

Egenco also said it was banking on the rains to improve hydro power generation at its power stations.

Egenco Senior Public Relations Officer, Moses Gwaza, said on Tuesday that since December the company has met the country’s power demand.

Malawi apparel exports to US up | The Times Group

Malawi apparel exports to US up | The Times Group: Malawi’s earnings from exports of apparel to the United States (US) under the African Growth and Opportunity Act (Agoa) inched up by 19.8 percent in 2018 as compared to 2017, the African Cotton and Textile Industries Federation (Actif) indicates.

Investment pledges jump 250% in 2018 | The Times Group

Investment pledges jump 250% in 2018 | The Times Group: Malawi Investment and Trade Centre (MITC) recorded investment pledges worth $1.49 billion (about K1.1 trillion) in 2018 from 105 companies that were issued with investment certificates.

The value of the pledges is 250 percent higher than the $400 million recorded from 42 firms in 2017.

Forbes unveils its ranking of best countries for business in 2019, here are the African best - Ecofin Agency

Forbes unveils its ranking of best countries for business in 2019, here are the African best - Ecofin Agency: This year, Mauritius was the best African country for doing business, according to a ranking published by the American magazine Forbes. This island of the Indian ocean is the 39th �best country for business in the world in the ranking that compared 161 countries based on fifteen criteria. These criteria are notably, property rights, innovation, taxes, corruption, freedom (personal, economic and monetary), bureaucracy and investor protection, workforce availability, infrastructures, the market size as well as the living conditions.

South Africa (59th globally) is the second in Africa, ahead of Morocco (62nd on a global scale), the Seychelles, Tunisia, Botswana, Rwanda, Kenya and Ghana. Egypt (95th on a global scale) is the last of the top 10 African countries for business in 2019.