Malawi kwacha rallies against dollar | The Times Group: The Malawi kwacha continued on its recovery path last week, appreciating against the dollar— moving from K774 to the green buck to K758.9 as at close of business Tuesday.
Business and Economic News from Malawi
Wednesday, July 31, 2019
Tuesday, July 30, 2019
Business | The Times Group
Business | The Times Group: By Chimwemwe Mangazi: The International Monetary Fund (IMF) has said the five percent inflation rate target for Malawi is attainable in the medium term if the country does not slacken on the... Read more
IMF backs Reserve Bank of Malawi’s 5% inflation target | The Times Group
IMF backs Reserve Bank of Malawi’s 5% inflation target | The Times Group: The International Monetary Fund (IMF) has said the five percent inflation rate target for Malawi is attainable in the medium term if the country does not slacken on the economic gains registered in the recent past.
Reserve Bank of Malawi (RBM), recently, set an ambition to achieve an inflation target of five percent by the first quarter of 2021.
Reserve Bank of Malawi (RBM), recently, set an ambition to achieve an inflation target of five percent by the first quarter of 2021.
Friday, July 26, 2019
Expert decries low non-tax revenue – The Nation Online
Expert decries low non-tax revenue – The Nation Online: Expert decries low non-tax revenue
Dumbani Mzale July 26, 2019 0 Comments
The declining trend in non-tax revenue is a reflection that the country’s economic landscape remains volatile, a Blantyre-based tax analyst has said.
Tax analyst Emmanuel Kaluluma, who is senior tax consultant at EK Tax Consultants, said this in reaction to an analysis by the World Bank report which shows that non-tax revenue as a percentage of gross domestic product (GDP) has been dwindling since 2016/17 fiscal year.
Dumbani Mzale July 26, 2019 0 Comments
The declining trend in non-tax revenue is a reflection that the country’s economic landscape remains volatile, a Blantyre-based tax analyst has said.
Tax analyst Emmanuel Kaluluma, who is senior tax consultant at EK Tax Consultants, said this in reaction to an analysis by the World Bank report which shows that non-tax revenue as a percentage of gross domestic product (GDP) has been dwindling since 2016/17 fiscal year.
Tuesday, July 23, 2019
Market dealers see kwacha recovering – The Nation Online
Market dealers see kwacha recovering – The Nation Online: The kwacha has started gaining ground against the dollar and is steadily appreciating, now trading at K770, according to Financial Market Dealers Association (Fimda).
The kwacha has started appreciating from a three-year low of K778 to a dollar.
In an e-mail response yesterday, Fimda president Patricia Hamisi attributed the gain to the reversal of the underlying factors that caused the depreciation.
The kwacha has started appreciating from a three-year low of K778 to a dollar.
In an e-mail response yesterday, Fimda president Patricia Hamisi attributed the gain to the reversal of the underlying factors that caused the depreciation.
Sovereign Metals Ltd produces ultra-high ‘5-Nines’ purity graphite from Malawi project
Sovereign Metals Ltd produces ultra-high ‘5-Nines’ purity graphite from Malawi project: Sovereign Metals Ltd (ASX:SVM) has produced some of the highest purity graphite in the world, using a loss on ignition process to assess the suitability of mine gate graphite concentrates from its Malingunde project in Malawi.
The achieved purity highlights the potential for Sovereign to enter the lithium-ion battery sector as well as high-tech and speciality markets, including the nuclear sector.
The achieved purity highlights the potential for Sovereign to enter the lithium-ion battery sector as well as high-tech and speciality markets, including the nuclear sector.
Monday, July 22, 2019
Key infrastructure boosts Sovereign Malawi rutile play | Business News
Multi-commodity developer, Sovereign Metals, could significantly lower capital and operating costs for its projects located in Malawi by accessing a newly upgraded rail network corridor to a deep-water port in Nacala, Mozambique, about 750km to the east.
The company is developing its exciting rutile and graphite projects within a huge land-holding in Malawi and access to the Nacala Logistics Corridor, or “NLC”, opens up export opportunities for the sought-after mineral commodities.
Sovereign has an existing memorandum of understanding in place with Central East African Railways for rail freight, port access and port handling services for concentrates from its Malingunde graphite project in Malawi, with a binding agreement currently in the works.
Treasury reviewing double taxation pacts – The Nation Online
Treasury reviewing double taxation pacts – The Nation Online: Treasury reviewing double taxation pacts
Steve Chilundu July 17, 2019 0 Comments
Ministry of Finance, Economic Planning and Development says it is reviewing old double taxation agreements with other countries.
This follows concerns from tax justice campaigners who say that double taxation agreements Malawi signed with other countries compel multinationals to use them for tax avoidance.
�The campaigners, supported by ActionAid and partners, interested in fair and progressive taxation regime, have argued that Malawi has weak taxation frameworks whose loopholes are providing opportunities for tax avoidance
Steve Chilundu July 17, 2019 0 Comments
Ministry of Finance, Economic Planning and Development says it is reviewing old double taxation agreements with other countries.
This follows concerns from tax justice campaigners who say that double taxation agreements Malawi signed with other countries compel multinationals to use them for tax avoidance.
�The campaigners, supported by ActionAid and partners, interested in fair and progressive taxation regime, have argued that Malawi has weak taxation frameworks whose loopholes are providing opportunities for tax avoidance
Current account deficit narrows – The Nation Online
Current account deficit narrows – The Nation Online: Malawi’s current account deficit is expected to take a knock from an estimated 18.20 percent of gross domestic product in 2018 to 15.20 percent in 2020, as import growth falters, investment advisory firm Nico Asset Managers has said.
The current account deficit is a measurement of a country’s trade where the value of the goods and services it imports exceeds the value of the products it exports.
The current account deficit is a measurement of a country’s trade where the value of the goods and services it imports exceeds the value of the products it exports.
RBM warns treasury on rising public debt – The Nation Online
RBM warns treasury on rising public debt – The Nation Online: R
eserve Bank of Malawi (RBM) Governor Dalitso Kabambe has advised Treasury to rein in on both domestic and external borrowing, warning that there is insufficient room for further borrowing.
The governor’s pronouncement comes on the back of figures showing� public debt at $4.3 billion (K3.2 trillion) or 68 percent of gross domestic product (GDP) with domestic debt at $2.2 billion (K1.6 trillion) or 34.9 percent of GDP and external debt at $2.1 billion (K1.5 trillion) or 33 percent of GD
eserve Bank of Malawi (RBM) Governor Dalitso Kabambe has advised Treasury to rein in on both domestic and external borrowing, warning that there is insufficient room for further borrowing.
The governor’s pronouncement comes on the back of figures showing� public debt at $4.3 billion (K3.2 trillion) or 68 percent of gross domestic product (GDP) with domestic debt at $2.2 billion (K1.6 trillion) or 34.9 percent of GDP and external debt at $2.1 billion (K1.5 trillion) or 33 percent of GD
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