Malawi Telecommunications Limited (MTL), the biggest fixed phone operator, says it is paying up to K100 million (about $657 894) ever year to replace its underground cables due to vandalism and the company is offering g up to K50, 000 (US$299. 00) for information leading to the arrests of the vandals. MTL has set a […]
Shares for Blantyre Hotels Limited (BHL), which have for a long time not made any sales, last week increased by 60 tambala to trade at K7 each on the Malawi Stock Exchange (MSE). This is contained in MSE’s update for the week ending 28th October, 2011. The report says the share price upward movement in […]
The ongoing fuel availability levels have gone extremely down in Malawi to the extent the country’s largest fuel retailer has declared that it was not doing deliveries since Wednesday. This is contained in Puma’s (formerly BP Malawi) customer updates for October 26 up to October 28, 2010 and other fuel stations do not even have […]
Fuel attendants have taken advantage of the crisis and demand K500 for each 20 litre jerry can if one wants a fast service. Random check at various filling stations in Blantyre and Lilongwe have confirmed the hot business which has enriched the attendants over night with some going home with K60 000 in a day. […]
Malawi government’s appetite to borrow money domestically to finance its operations is attracting many investors at increasing return rates as witnessed last week on the money market. Data from the Reserve Bank of Malawi (RBM) indicates that yields on one of its popular financial instrument, Treasury Bills (TBs), rose to mostly around 7 percent at […]
An imminent deal between Telekom Networks Malawi (TNM)Limited and South Africa’s Vodacom has led to many investors clinging on to the local firm’s shares at the Malawi Stock Exchange (MSE) in the hope that the share price may increase, Nyasa Times can reveal. This is clearly indicated in MSE’s daily reports for the past three […]
Global Metals and Mining, the company that will run the Kanyika Niobium Mining Project in Mzimba district has described its self as “in an extremely cash rich position, being debt free and with an excess of Australian Dollars of 44 million at the bank”. Once operational the mining project is expected to rack in US$170 […]
Malawi National Statistical Office (NSO) through its monthly inflation rate report has veiled the real hardship that consumers are currently encountering in the country. Data from the NSO shows that the rate at which goods prices are progressing on the market, inflation, has only increased by 0.1 percent. In its statement issued this week, NSO […]
It never rains but pours for Malawi which is suffering from continued forex and resources supplies, as this time the World Bank statistics have shown that country’s rate to doing business is on the lower side. The World Bank’s investment arm, International Finance Corporation (IFC) annually produced the ‘Doing Business’ report which analyses regulations affecting […]
An average Malawian family of six needs about K60, 000 to buy food, clothing and pay rent for a month following the devaluation of the currency kwacha, a September report by Centre for Social Concern has said. This is about US$350, at the current exchange rate, a sum that is beyond the reach of most […]
Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has called for reforms in the pricing of fuel, saying Malawi is experiencing severe shortage of fuel because of the poor performance on the availability of foreign exchange. The call was made by MCCI’s Hope Chavula at a seminar in Blantyre jointly organised by Economics Association […]
India on Wednesday offered cooperation in exploration and development of mines to Malawi besides help in capacity building and training facilities in the sector. According to a statement from Indian government, the first meeting of the Indo-Malawi Joint Working Group on Mining Resources, India also stressed on long-term collaboration between the two nations. “The Working […]
Minister of Information and Civic Education Patricia Kaliati has been accused of causing the temporary closure of Maldeco Fisheries because of her careless talk at a DPP political rally in Mangochi. “On Sunday (9th October), Hon Kaliati, Minister of Information and Civic Education, Mr. [Francis] Mphepo, Political advisor to the President, Mr Kusweche, the DPP […]
NBS Bank Limited will be open for business on Sunday, as competition for customers hots up. A Chichiri Shopping Mall Branch in commercial capital, Blantyre was the first in Malawi to open on a Sunday this week. Shoppers piling out of Shoprite were greeted by an unusual sight: a NBS bank open for business on […]
Airtel Malawi doesn’t only charge highest tariffs in the world but they also pay peanuts to their workers. Customer care department workers at the company has summoned their management to address their grievances “We want management of Airtel to look into the plight of us workers such as salaries and working conditions,” said one of […]
Paladin general manager at Kayelekera Uranium Mine in Karonga, Jimmie Wilde, will be abdicating from office this month end, a development which has excited workers at mine who have accused him of being a hardcore racist. Sources said Paladin board was not happy with his management style whereby he did not accommodate dissenting views especially […]
The Chinese owned Malawi Cotton Company (MCC) has said that its core interest is not to make more profit for itself but rather to make cotton production more profitable to the common Malawian farmer and the Malawi government in the process. Assistant Manager of MCC Xin Jia said that the company generated over 20 million […]
Malawi has awarded oil exploration licences to UK-based firm Surestream Petroleum to search for oil in the country’s main lake, the minister of energy said on Monday. “We engaged Surestream Petroleum to do some exploration on the lake and we expect them to do a thorough environmental impact assessment before they can go any further,” […]