world Bank to invest $95 million in Malawi agribusiness

Coca-Cola fully acquires Chi Limited - Ventures Africa: The World Bank has earmarked a sum of $95 million to fund the Agricultural Commercialization (AGCOM) Project in Malawi over the next six years. The initiative is aimed at transforming the agriculture sector into a highly productive commercial division.

The overall objective of AGCOM for Malawi is to increase commercialization of agriculture value chain products and is targeted at livestock, aquaculture, and small and medium crop farmers that are in cooperatives to ensure sustained commercialization

Banks minimum capital set at $5 million | The Times Group

Banks minimum capital set at $5 million | The Times Group: A latest directive on capital adequacy for banks has set $5 million as the minimum amount players in the banking industry are supposed to maintain at all times. The Financial Services (Capital Adequacy for Banks) Directive 2018, published on the Reserve Bank of Malawi website, says a bank shall maintain a minimum core capital of Malawi kwacha equivalent of $5 million or such a higher amount as determined by the Registrar of Financial Institutions.

Inside K53bn deal - The Nation Online

Inside K53bn deal - The Nation Online: Parliament’s Public Accounts Committee (PAC) has expressed fears of profiteering in the controversial K53 billion Immigration uniforms supply deal and demanded documentation after noting what it termed exorbitant prices for items.

In an interview on Tuesday, PAC chairperson Alekeni Menyani said his committee has cast doubt at some claims in the deal such as a single uniform shirt for an Immigration officer pegged at about K60 000 and in some cases a belt quoted at K100 000.

Globe Metals & Mining Ltd finalises Kanyika Niobium Project feasibility study revision

Globe Metals & Mining Ltd finalises Kanyika Niobium Project feasibility study revision: The updated feasibility study outlines a staged, conventional open pit mining scenario.

Niobium is used mostly in alloys and superconducting materials

Paladin Exploring Potential Langer Heinrich Uranium Restart | INN

Paladin Exploring Potential Langer Heinrich Uranium Restart | INN: Australia’s Paladin Energy (ASX:PDN) reported sales of 475,000 pounds of U3O8 during the December 2018 quarter, with the material going for an average price of US$31.41 per pound. The company, which released its quarterly activities report on Wednesday (January 16), also provided updates on its Langer Heinrich mine and its Kayelekera mine. Langer Heinrich, located in Namibia, was transitioned to care and maintenance in August 2018. However, Paladin reported that a concept study was underway this past quarter to optimize the operation “in preparation for a restart decision.”

Uranium hits 29 USD/LBS

Uranium | 2019 | Data | Chart | Calendar | Forecast | News: Uranium was quoted at 29 USD/LBS on Friday January 25. Historically, Uranium reached an all time high of 143 in May of 2007 and a record low of 7.10 in December of 2000.

Industry outlines economic risks - The Nation Online

Industry outlines economic risks - The Nation Online: The Malawi Confederation of Chambers of Commerce and Industry (MCCCI) says despite registering some positives in the past year, Malawi’s economy remains threatened by rising prices and lower agricultural production. In its Fourth Quarter Economic Review covering October to December 2018, MCCCI notes that although electricity generation and supply improved and the local currency was stable, the country’s economic gains were threatened by continued increase in inflation, with the rate hitting a double digit in November.

Industry skeptical on 2019 GDP growth | The Times Group

Industry skeptical on 2019 GDP growth | The Times Group: t a time Capital Hill and the African Development Bank have predicted robust economic growth in 2019, the Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has said it is skeptical on GDP growth this year. In a Fourth Quarter Economic Report released on Friday, MCCCI says growth for 2019 may be subdued by intermittent power supply and weak performance of the industry sector.

WB, govt differ on 2019 growth projections - The Nation Online

WB, govt differ on 2019 growth projections - The Nation Online: Contradictions have risen over Malawi’s 2019 projected real gross domestic product (GDP) growth government projecting the economy to register a growth rate of seven percent while the World Bank pits growth at 4.3 percent.

The bank has further said growth is expected to decelerate by to 5.3 in 2020 and 5.5 in 2021, declining by 0.2 and 0.4 basis points respectively

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