Malawi Kwacha firms against dollar | The Times Group

Malawi Kwacha firms against dollar | The Times Group: "A report shows the kwacha remained stable holding still to the dollar in the month of August as the country managed to keep demand and supply of foreign exchange at equilibrium. The report also sites a relatively weaker dollar index and constant tobacco revenue inflow as being behind the good tidings.

But while the report shows prospects of a stable kwacha-dollar exchange rate in the next few weeks, the trend is not expected to hold for long, predicting the kwacha to begin depreciating again as the dollar regains strength."



'via Blog this'

Electricity tariffs maintained at K57.72 | The Times Group

Electricity tariffs maintained at K57.72 | The Times Group: "The Malawi Energy Regulatory Authority (Mera) has maintained electricity tariffs at K57.72.kWh having taken into consideration its last tariff adjustment earlier in May when it granted the Electricity supply Corporation of Malawi (Escom) approval to effect the outstanding 8.14 percent tariff increase."



'via Blog this'

Corruption in Malawi | The Times Group

Corruption in Malawi | The Times Group: "The European Investment Bank (EIB) has pounced on Blantyre Water Board (BWB), demanding part repayment of the 18 million euros (K15 billion) funding which the Bank made available towards the water and sanitation project in Blantyre and Lilongwe cities due to suspected fraud and corruption."



'via Blog this'

Malawi Kwacha depreciates 7% in eight months | The Times Group

Malawi Kwacha depreciates 7% in eight months | The Times Group: The Malawi Kwacha lost value by 7.1 percent against the United States dollar in the first eight months of 2016, according to a report.

Announcing the figures in its latest Monthly Economic Brief, Nico Asset managers attributed the fall to the strengthening of the dollar against other currencies as well as low tobacco prices and high rejection rates that have negatively affected inflow of foreign currency to the country.

New developments in Carlsberg transaction | The Times Group

New developments in Carlsberg transaction | The Times Group: "Preliminary findings show that the transaction in which Castel Group is applying to acquire Carlsberg Malawi may not have an effect in more than two countries in the Common Market for Eastern and Southern Africa (Comesa), leaving the mandate to approve or reject the merger to the  Competition and Fair Trading Commission (CFTC).

The findings show that the acquiring group, Castel, only has operations in the Democratic Republic of Congo while the target, Carlsberg, only has operations in Malawi, thereby not meeting the notification requirements for mergers that are handled by the regional instrument, the Comesa Compeition Commission."



'via Blog this'

National Bank of Malawi resuscitates development bank plans | The Times Group

National Bank of Malawi resuscitates development bank plans | The Times Group: "National Bank of Malawi (NBM) has outlined plans to establish a development bank after it completes the integration process with Indebank.

NBM bought 97.05 percent stake in the then government owned Indebank, after the latter failed to meet the Reserve Bank of Malawi’s (RBM) set minimum regulatory Capital and Liquidity Requirement."



'via Blog this'

Malawi trade replaces begging bowl - Nkhani Mchitumbuka

Malawi trade replaces begging bowl - Nkhani Mchitumbuka: "Malawi is undergoing a silent economic paradigm shift by diversifying its economic base from its single reliance on agricultural production to direct investments in multiple sectors including agriculture itself and agro-processing, energy, information and communications technology, tourism, infrastructure and manufacturing."



'via Blog this'

Goodall says IMF, World Bank imposed anti-corruption bureau to Malawi: Grilled on BBC why no minister has been charged of ‘cashgate’ - Malawi Nyasa Times - Malawi breaking news in Malawi

Goodall says IMF, World Bank imposed anti-corruption bureau to Malawi: Grilled on BBC why no minister has been charged of ‘cashgate’ - Malawi Nyasa Times - Malawi breaking news in Malawi: "Finance Minister Goodall Gondwe told BBC News that governance institutions such as the Anti Corruption Bureau (ACB) were imposed by World Bank and International Monetary Fund (IMF), saying the system ineffectiveness should not be blamed on Malawi."



'via Blog this'

Malawi reviews mining act to unlock mineral potential

Malawi reviews mining act to unlock mineral potential: "The Malawi government and mining ministry have initiated a process aimed at reviewing its 1981 Mines and Minerals Act.

Through Malawi's Ministry of Natural Resources, Energy and Mining; and with the support of African Minerals Development Centre (AMDC); government hosted a three-day stakeholder consultative meeting to review the Act and to align its mining regulations and new Petroleum Policy to the Africa Mining Vision (AMV)."



'via Blog this'

Firm outlines economic threats | The Times Group

Firm outlines economic threats | The Times Group: "Portfolio and investment management firm Nico Asset Managers Limited has outlined six key risks that could further stifle Malawi’s growth and development endeavour.

The firm, in its July 2016 monthly economic brief has highlighted insufficient power supply, high interest rates, persistent weak export base, high inflation rates and delay in food assistance as likely risks to the economy which could impact the real Gross Domestic Product (GDP) growth estimated at 5.1 percent this year by the Government."



'via Blog this'