Gemstone Association of Malawi bemoans lack of gov’t support in marketing – Mining & Trade Review | Mining in Malawi

Gemstone Association of Malawi bemoans lack of gov’t support in marketing – Mining & Trade Review | Mining in Malawi: "By Deborah Manda

The Gemstone Association of Malawi (GAM) has bemoaned lack of government efforts in coming up with strategies which would help small scale miners identify profitable markets for their products.

GAM President John Chikokoto told Mining & Trade Review in an interview that unlike in other countries, Malawi does not have established markets and recommended prices for gemstones hence miners just sell their products at their own desired prices"



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Efora Energy (formerly SacOil) relinquishes oil exploration licence in Malawi | Mining in Malawi

Efora Energy (formerly SacOil) relinquishes oil exploration licence in Malawi | Mining in Malawi: "EFORA ENERGY (FORMERLY SACOIL) RELINQUISHES OIL EXPLORATION LICENCE IN MALAWI
20 February 2018 · by Rachel Etter-Phoya · in Oil & Gas, SacOil. ·
Efora Energy (formerly SacOil) relinquishes oil exploration licence in Malawi
Prospecting for oil in Malawi’s northern Block 1 has not been successful. As a result, South African company Efora Energy has decided not to renew its prospecting licence.

According to JSE-listed Efora Energy, formerly trading under SacOil Holdings, the prospectivity did not meet project investment criteria. SacOil initially acquired the licence in December 2012."



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OUR COMMENT

ECAMA has challenged the Minister of Finance's claims that much of the development spending is going for long term investment. It turns out that  much of the money will be going for consumption. This is serious and it is a pity that the Minister has chosen the mendacious path to make his case.

Our Minister of Finance has always been largely focused on stabilisation and not economic development. This partly explains his attachment to the IMF and his failure to source much more readily available developmental  funds for infrastructure. His Ministry is simply unable to come up with bankable projects.

Age is also beginning to show. On all too many occasions his Ministry has made huge miscalculations, the recent one being the ADMARC bailout. Huge amounts of castigate money disappeared under his watch.  And yet he has not been taken to task for this. He recently announced that  the economy would grow 7 percent while at the same time telling the public that the Ministry  still had no estimates of how individual sectors would grow. This undermines his credibility, an important asset for a modern-day Minister of Finance.

The country badly needs a young, development oriented Minister.of Finance.

Ecama contradicts Goodall on borrowing - The Nation Online

Ecama contradicts Goodall on borrowing - The Nation Online:



Ecama contradicts Goodall on

borrowing

Grace O February 26, 2018 o Comments

An analysis by the Economics Association of Malawi (Ecama) has shown that the majority of

public expenditure is channelled towards consumption.

Out of K171.1 billion (25-5 percent of total expenditure) of the targeted development

expenditure for the first half of the year 2017/18, only K138.2 billion (20. 6 percent of total

expenditure) was the actual development expenditure outturn.





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Lilongwe Water Board in K75bn water project - The Nation Online

Lilongwe Water Board in K75bn water project - The Nation Online:



Lilongwe Water Board in K75bn water

project

Staff Writer O February 26, 2018 o Comments

Poor sanitation and intermittent water supply in Lilongwe and surrounding areas will be

history within five years as the World Bank subsidiary International Development Association

(IDA) will pump in Sloo million (about K75 billion) to improve water and sanitation services.

On December 20 last year, the World Bank Board approved the Lilongwe Water and Sanitation

Project (LWSP) amounting toS102 million, out of which $2 million will be a Malawi

Government contribution.





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National Statistical Office delays inflation figures for January | The Times Group

National Statistical Office delays inflation figures for January | The Times Group:

National Statistical Office delays inflation figures for

January

Posted By: Taonga Sabola on: February 21, 2018 In: Business No Comments

The National Statistical Office (NSO) has said it is in the process of rebasing the Consumer Price

Index (CPI), adding that this has resulted in the delay to release inflation figures for January.

Traditionally, NSO releases inflation figures on the 15th day of the following month but, as of

yesterday, it was yet to publish inflation figures for January.

NSO assistant Commissioner for Economics, Lizzie Chikoti, has confirmed the development.

"You are very correct that NSO releases inflation figures on the 15th of every month. This month,

the delay is due to the rebasing exercise that we have been doing.





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Ethanol power plant Offers clean energy - The Nation Online

Ethanol power plant Offers clean energy - The Nation Online:

O February 21, 2018 o Comments 

Ethanol production is becoming an increasingly go- to strategy for countries that are hoping to 

reduce carbon emissions, decrease the use of fossil fuels and adapt to the decreasing 

availability of oil and other fossil fuels. 

The country has the opportunity to move towards using locally-produced ethanol to generate 

power. 

US- based power company APR Energy recently announced that it intends to partner with 

Press Corporation Limited (PCL) plc—specifically one of its subsidiaries, Chikwawa—based 

ethanol producer PressCane Limited- to bring clean, renewable energy to the country. 





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US firm to supply dredging equipment for Kapichira - The Nation Online

US firm to supply dredging equipment for Kapichira - The Nation Online:

US firm to supply dredging equipment 

for Kapichira 

Llyod chitsulo O February 19, 2018 o Comments 

Hydropower efficiencies are expected to improve following the awarding of a contract to a 

United States (US) firm by the Malawi Challenge Account-Malawi (MCA-M) to supply 

dredging equipment at Kapichira Hydropower Plant. 

The MCA-M which is implementing a $350.7 million (K257 billion) energy compact 

announced that it awarded Elliott Dredges LLC a ST million (K5 billion) contract to support 

efforts in strengthening the country' s power sector. 

The US- based firm will supply dredging equipment to the Kapichira Hydropower Plant to 

help improve its generation by reducing the sediment in the reservoir, and therefore, 

increasing the amount of reservoir water volume and hydropower efficiencies. 

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Dapp pilots shoe design training | The Times Group

Dapp pilots shoe design training | The Times Group:

Development Aid from People to People (Dapp) has introduced a shoe making course at its
Mikolongwe College targeting youths in selected districts in the Southern Region.
This comes at a time when Dapp discovered that the business of making shoes could help Malawi
gain more foreign exchange through shoe exports.
Mikolongwe College Deputy Principal, Zacheria Mano, said Dapp has partnered Technical
Entrepreneurial and Vocational Education Authority and Sympany based in the Netherlands for the
programme to run for three years.

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Foreign exchange reserves pick up | The Times Group

Foreign exchange reserves pick up | The Times Group:

Malawi's gross foreign exchange reserves—a combination of official and private sector reserves

— increased marginally last week from 3.39 months of import cover two weeks ago to 3.42

months as of Wednesday, latest figures from the Reserve Bank of Malawi (RBM) have shown.

Recent RBM Daily Financial Market Development report for February 16 indicates that as of last

week, total official reserves increased to $715.02 million from $709.17 two weeks ago.

The marginal increase comes as the country is going towards the end of its lean period, usually

between November and February, when demand for forex surges due to demand for fertiliser and

farm inputs.

The increase also comes as the local currency; the Malawi Kwacha, has marginally weakened

against the British Pound and the South African Rand over the past two months despite being

steady against the United States Dollar.

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