Malawi: Mwanamvekha Says Govt to Curb Illicit Foreign Exchange, Issue Diaspora Bond - allAfrica.com

Malawi: Mwanamvekha Says Govt to Curb Illicit Foreign Exchange, Issue Diaspora Bond - allAfrica.com: Minister of Finance, Economic Planning and Development Joseph Mwanamvekha on Monday presented a 2019/20 budget in Lilongwe which many have described as an "inspiring" fiscal plan as he projected that Gross Domestic Product (GDP) will expand by 5% in 2019 and by 7% in 2020.

Finance minister Mwanamvekha presenting the budget: Malawi's economy to grow 5% in 2019, 7% in 2020

Mkango Resources Appoints SENET As Songwe Hill... | Morningstar

Mkango Resources Appoints SENET As Songwe Hill... | Morningstar: NewsMkango Resources Appoints SENET As Songwe Hill Project Manager(Alliance News) - Rare earths development company Mkango Resources Ltd said Monday it has ...
Alliance News9 September, 2019 | 12:56PM
(Alliance News) - Rare earths development company Mkango Resources Ltd said Monday it has appointed SENET as lead engineer and project manager for completing the feasibility study for the Songwe Hill project in Malawi.

SENET is a project management and engineering firm, which is part of diversified engineering, project delivery group DRA Global.

SENET's appointment is said to be another key milestone for completing the feasibility study and developing the project.

Perth’s Force To Let Key Contracts This Month For New Open-Pit Lead-Silver Mine In Malawi

Perth’s Force To Let Key Contracts This Month For New Open-Pit Lead-Silver Mine In Malawi: APerth company which has already pre-sold to a major Swiss global trading house its entire high grade lead-silver entitlement from a mine yet to be built in Africa, says it expects to finalise the key exploration, mining and beneficiation contracts for the mine by the end of this month.

Speaking on the third and final day of the Paydirt 2019 Africa Downunder mining conference in Perth, Force Commodities Managing Director, Mr Jason Brewer, said the key project milestones would also coincide with a start to a new onsite drill program at the Company’s 51%-owned 1,400km� Tshimpala base metals project in Malaw

Coal power plant critical for electricity tariffs—Mera – The Nation Online

Coal power plant critical for electricity tariffs—Mera – The Nation Online: Malawi Energy Regulatory Authority (Mera) has advised Electricity Generation Company Malawi Limited (Egenco) to speed up the building Kamwamba Coal Plant, saying the delay could affect electricity tariffs in the medium-term.

Mera chief executive officer Collins Magalsi said in an interview on Wednesday at the construction site of Tedzani IV Power Plant after Minister of Natural Resources, Energy and Mining BintonyKutsaira toured Phombeya Power Sub-station in Balaka, Kamwamba in Neno and NkulaA Hydropower Plant.

Savings rate remains unchanged at 4.58% – The Nation Online

Savings rate remains unchanged at 4.58% – The Nation Online: The reduction in policy rate in May this year by 100 basis points to 13.5 percent is yet to impact the commercial bank’s savings rate, it has been established.

The savings rate has been maintained at 4.58 percent since the first quarter when the policy rate fell by another 100 basis points to 14.5 percent.

Exports up 28% in second quarter - The Times Group Malawi

Exports up 28% in second quarter - The Times Group Malawi: Malawi’s exports rose by 28 percent in the second quarter of 2019 to hit $316.6 million fuelled by a jump in sugar exports, figures from the Reserve Bank of Malawi (RBM) indicate.

Election challenges dampen PCL profit – The Nation Online

Election challenges dampen PCL profit – The Nation Online: Dual-listed conglomerate Press Corporation plc has posted a 52 percent drop in first half profit after-tax to K11.1 billion from last year’s K23 billion largely due to pre and post-election challenges.

In the summary of unaudited financial results for the period ended June 30 2019 published on Monday, PCL said as a result of the “challenges and uncertainties in the business environment posed by a general election year” and the aftermath, the group did not reach its full potential and registered an eight percent revenue growth.

Grand Business Park creates jobs for youths – The Nation Online

Grand Business Park creates jobs for youths – The Nation Online: The Grand Business Park, which is under construction in Lilongwe, has created job opportunities for the youth, including graduates from community technical colleges, Minister of Lands, Housing and Urban Development has said.

Invest in business ideas with potential— Reserve Bank of Malawi - The Times Group Malawi

Invest in business ideas with potential— Reserve Bank of Malawi - The Times Group Malawi: NGWENYA— Commercial banks are ready to
invest in loans
With seven recessions that have affected rain-fed agriculture in Malawi’s 55 years of independence, Reserve Bank of Malawi Governor Dalitso Kabambe believes that banking commercial banks’ hopes solely in investments in the agriculture sector is akin to putting all eggs in one basket.

It is a tricky situation, but one fraught with opportunities for investments in other sectors of the economy, Kabambe told delegates to the Institute of Bankers (IoB) fourth annual general meeting held under the theme ‘Financial Sector Synergies: A Catalyst for Financial Inclusion’ held on Friday and Saturday in Mangochi Distric

Low tea prices worry Malawi growers – The Nation Online

Low tea prices worry Malawi growers – The Nation Online: The Tea Association of Malawi (Taml) has expressed concern over continued low tea prices that buyers are offering at its Limbe market, fearing it may affect growers revenue and its contribution to the economy.

Taml chief executive officer Beyani Munthali on Tuesday said on average—as of this month (August)—the prices per kilogramme (kg) of tea is $1.25 (about K925) compared to last year’s $1.95 (about K1 443)