Malawi’s finance minister has stepped up efforts to secure additional grants and concessional financing through talks in Seoul, as the country seeks to ease persistent foreign exchange shortages without adding to its debt stock. Joseph Mwanamvekha, the finance minister, held separate meetings with Sidi Ould Tah, president of the African Development Bank, and Jinsung Moon, […]
Malawi is set to benefit from special funding from the African Development Bank (AfDB) to support the importation of fuel and fertiliser, two of the country’s major consumers of scarce foreign exchange. AfDB director general and acting vice-president for Africa, Abdou Kamara, said Malawi was among the first countries selected to benefit from the Bank’s […]
Minister of Finance, Economic Planning and Development Joseph Mwanamvekha has said Treasury is excited that African Development Bank (AfDB) has confirmed the possibility of providing budgetary support to Malawi in this financial year. Mwanamvekha said the indication by International Monetary Fund (IMF) that the country’s economy is on track has injected a positive signal from […]
The African Development Bank (AfDB) has warned that the local currency, Kwacha, will mdepreciate by about five percent partly because of expected large current account deficits. According to the AfDB 2019 Southern African Regional Economic Outlook, the growth of about 4.6 percent which Malawi is expected to register will will depend on improvements in rain […]
The African Development Bank (AfDB) has approved the Country Strategy Paper for Malawi for 2018-2022, the blueprint which is part of ongoing efforts to boost economic diversification, reduce dependency on rain-fed agriculture and build resilience for growth in the southern African nation. In a statement dated October16 2018, seen by Nyasa Times, AfDB says the […]
The Anti-Corruption Bureau (ACB) has cleared ICTC Malawi, a local ICT company, on the multi-billion kwacha textbooks contract with Ministry of Education, according to a letter Attorney General Charles Mhango has written to Treasury as seen by Nyasa Times. In a letter dated March 27 2018 reference number MJCA/AG/238, Attorney General is informing the Secretary to […]
The civil society organisations (CSOs) under the Human Rights Consultative Committee (HRCC) and the Forum for National Development (FND) have written the Competition and Fair Trading Commission to investigate “unfair monopoly” practices which Mallory and Maneno Joint venture have been doing. Malawi’s competition policy was adopted in 1997, with the broad objective of creating an enabling environment […]
State Vice President Saulos Chilima led the country in paying tributes to African Development (AfDB) Director General for the Southern Africa Region Development Bank, Tonia Kandiero, who collapsed and died in her office in Pretoria, South Africa last week. Chilima attended the burial ceremony at Phwanga Vllage, Traditional Authority Malengachanzi in Nkhotatota. The Veep attended […]
African Development Bank (AfDB) director general for the Southern Africa Region, Dr. Tonia Kandiero, has passed on after collapsing in her office in Pretoria, South Africa on Wednesday night. One of AfDB Malawi senior officers, Benson Nkhoma, confirmed the development saying her death was a “shock” to the AfDB family and the whole world. Nkhoma […]
Government of Malawi and the African Development Bank (ADB) Tuesday signed a loan agreement amounting to US$22.4(MK16.5Billion) to finance the agricultural infrastructure and agribusiness among the rural youth. Speaking at capita Hill in Lilongwe, Minister of Finance Economic Planning and Development, Goodall Gondwe said apart from empowering the country’s youth to venture into agribusiness, the […]
African Development Bank (AfDB) has granted Malawi Government with 12 million Units of Account (approximately K12.5 billion) towards Food Crisis Response Sector Budget Support. Minister of Finance, Economic Planning and Development Goodall Gondwe said the money will be used for procuring maize to replenish the Strategic Grain Reserves (SGR) for immediate distribution to households that […]
World Bank and the African Development Bank (AfDB) have together pumped in US$210 million to fund the largest irrigation scheme in southern Africa, the Shire River Irrigation scheme. Ministry of Agriculture community development specialist Stanley Khaira said the feasibility study of the project is expected to finish in December and the whole project will take […]
Malawian President Peter Mutharika has been appointed Champion for African Development Bank (ADB) Youth Program for the next 10 years. AfDB president, Akinwumi Adesina, who was in the country on official visit, on Tuesday asked Mutharika 76, to champion the youth program which aims to reach 50 million youths and create 25 million jobs for young Africans […]
President Peter Mutharika said on Tuesday he is pleased with the announcement by African Development Bank (AfDB) Group President Dr Akinwumi Adesina about the increase of financial support to Malawi from K212 billion (US$310million) to K400 billion US$578million during the 2016/17 financial year. The AfDB has made a further commitment of $1 million immediately for […]
The African Development Bank (AfDB) Group President, Akinwumi Adesina, is expected to visit Malawi from Tuesday, giving hope he might be bringing positive answers for President Peter Mutharika on budgetary support. The Bank says Adesina will among key engagements, hold high-level discussions with Malawi President Peter Mutharika. The President’s visit comes a few weeks after […]
A nine member high powered delegation from African Development Bank (AfDB) on Friday left Malawi without assuring President Peter Mutharika of resumption of direct budget support following his request earlier in the week. The bank however says in a statement the government needs to continue with reforms in fiscal policy and public financial management to […]
Malawian President Peter Mutharika on Wednesday made a frantic appeal to African Development Bank (AfDB) to resume budgetary support. The surprise plead for budgetary support came as Minister of Finance Goodall Gondwe told parliament almost same time that the IMF team is now in the country but his preliminary meeting with the institution shows Malawi […]
Malawi economist and former finance Minister Friday Anderson Jumbe is heading for a post at African Development Bank (AfDB) while another former finance minister Maxwell Mkwezalamba has been picked as International Monetary Fund (IMF) executive director. Jumbe, who contested for the presidency in May 20 elections under the New Labour Party and lost miserably, stepped down […]