Malawi President Mutharika stops tobacco companies from� growing crop - The Maravi Post

Malawi President Mutharika stops tobacco companies from� growing crop - The Maravi Post: By Vincent Khonje

Companies that buy tobacco� will no longer be allowed to grow the cash crop from the� next growing season, President Peter Mutharika said on Saturday.

Mutharika brought the� good news to tobacco farmers on his whistle stop tour to the North.

World Bank commits over K88 billion towards Cyclone Idai recovery in Malawi - The Maravi Post

World Bank commits over K88 billion towards Cyclone Idai recovery in Malawi - The Maravi Post: Written by� McCarthy Mwalwimba

Lilongwe, May 3, 2019:�The World Bank on Friday announced that it has mobilised US$120 million (over K88.1 billion) in new resources to help people in the country affected by the assessed impact of Cyclone Idai.

In a statement released in Maputo, Mozambique where the cyclone hit most, the bank says it has mobilised over half a billion dollars in new resources to help people in Mozambique, Malawi, and Zimbabwe.

Reserve Bank of Malawi cuts rate to 13.5 % | The Times Group

Reserve Bank of Malawi cuts rate to 13.5 % | The Times Group: Borrowers from commercial banks and other micro-finance institutions should heave a sigh of relief following a slash in policy rate — a key driver of interest rates on loans— by the Reserve Bank of Malawi (RBM).

At the end of the second Monetary Policy Committee (MPC) meeting Friday, MPC Chairperson and RBM Governor Dalitso Kabambe announced the policy rate slash from 14.5 to 13.5 percent.

300MW Kam'mwamba coal-fired power project in Malawi underway

300MW Kam'mwamba coal-fired power project in Malawi underway: Construction works on the 300MW coal-fired power project Malawi is underway. This is according to Ambassador of the People’s Republic of China Liu Hongyang.

“Kam’mwamba Coal-field Power Project is still alive and there, what we are doing is that we are doing some visibility studies on some infrastructure like roads, railways systems and other things to enable easy transportation of coal as well as distribution,” said Hongyang.

RBM sees policy rate down to 11% - The Nation Online

RBM sees policy rate down to 11% - The Nation Online: RBM sees policy rate down to 11%
Nation Online May 2, 2019 0 Comments
Reserve Bank of Malawi (RBM) says it is eyeing a decline in policy rate to 11 percent in the short-term on account of continued decline in inflation and sustained economic gains.

RBM Governor Dalisto Kabambe said this on Tuesday in Blantyre on the sidelines of the official opening of a symposium on investments in infrastructure through pension funds.

Our Comments On Pensions

The Reserve Bank is to be congratulated for taking the initiative of organizing a symposium to rethink the allocation of pension funds which are now more than one billions dollars worth. Pension funds have grown dramatically in Malawi and carefully allocated, they can significantly contribute to the growth of the economy.  Thus far the funds have been misallocated, being placed into short-term equities.  And in terms of infrastructure, the choice has been shopping malls, a wasteful practice encouraged by South African pensions funds such as Old Mutual.

In other parts of the world pension funds have been used to build railways, electrification, providing office space, housing, etc. We just have to look at the case of Singapore to see how we can go.

There is something perverse about Malawi sitting on huge amounts of money and apparently have no clue what to with the money.

Pension assets now at K757 billion | The Times Group

Pension assets now at K757 billion | The Times Group: Pension assets now at K757 billion
Posted By: Tom Sangalaon: May 01, 2019In: NationalNo Comments
By William Kumwmbe:


JIYA—We need to work more

Pension assets have grown from K74.8 billion in 2011 to K757.4 billion in March 2019, figures from the Reserve Bank of Malawi (RBM) show.

At this level, pension assets are now at around 14.4 percent of Gross Domestic Product, growing at 30 percent annually.

Government ponders lifting maize export ban - The Nation Online

Government ponders lifting maize export ban - The Nation Online: Government ponders lifting maize export ban
Grace Phiri April 30, 2019 0 Comments
Maize traders say lifting maize export ban now that farm-gate price of K180 per kilogramme (kg) has been released would be counterproductive.

The views by Grain Traders and Processors Association follow sentiments by Minister of Agriculture, Irrigation and Water Development Joseph Mwanamvekha on Saturday that lifting maize export ban, imposed two years ago, is an option government is looking at in the wake of a projected 355 000 metric tonnes (MT) maize surplus this year.

MetalNRG to acquire 75% interest in Thambani uranium licence

MetalNRG to acquire 75% interest in Thambani uranium licence: MetalNRG to acquire 75% interest in Thambani uranium licence
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MetalNRG has signed an agreement to acquire up to a 75% interest in Mkango Resources’ Thambani exclusive prospecting licence in Malawi.

Under the non-binding heads of terms agreement, MetalNRG will invest up to $2m on exploration to earn the interest.

The agreement terms outline that MetalNRG and Mkango will enter into a binding definitive agreement on or before the 30 June.

Mkango Resources Ltd well-funded through deal with Talaxis

Mkango Resources Ltd well-funded through deal with Talaxis: Malawi-focused Mkango Resources Ltd (LON:MKA) closed 2018 with cash of US$2.4mln, a figure boosted by its collaboration with Noble Group division Talaxis.

Since then, the junior has received a further US$9mln from Talaxis following completion of a technical report on the Songwe Hill rare earth project.

Through that investment, Talaxis increased its stake in Lancaster Exploration, the holder of the licence for Songwe in Malawi, to 49%; Mkango holds the remaining 51%.

Mkango posted a loss of US$7.2mln in 2018 as it ramped up spending on a feasibility study at Songwe Hill that will be finished next year.

Once that is published, Talaxis has the option to take a further 26% of the project in return for arranging the finance to take it through to production.