The country’s headline inflation continues to drop and it is now at 7.7 percent, the National Statistical Office (NSO) has confirmed. According to NSO, the headline inflation for November has gone one step down from October’s 8.3 percent compared to the headline inflation of 20.1 percent for the same period last year (October 2016). The […]
Minister of Finance, Economic Planning and Development Goodall Gondwe has rejected fears from economic commentators that Malawi government’s borrowing has reached a critical stage as the country’s debts have gone beyond the fiscal policy, saying although there is huge debt the country has not yet reached the threshold of the international standard which is 50 […]
Professor Patrick Lumumba of Kenya was once quoted as saying ‘a good dancer must know when to leave the stage’. He said this in the contest of Heads of State who overstay in power with lame excuses that it is people who want them to remain in power. In fact, Lumumba also said the best […]
Former Daily Times editor and one of Malawi’s critical opinion leaders Idriss Ali Nassah says Malawi government should ‘give incentives to lure’ South Africa based preacher Prophet Shepherd Bushiri to ‘bring his industry to Malawi’. Nassah, writing on his Facebook wall, used the word ‘industry’ to denote how Prophet Bushiri is generating income for South […]
Mchinji North East member of Parliament (MP) Alex Chitete (Malawi Congress Party –MCP) courted controversy in Parliament when he referred Malawi as “hell” and not its standing as the Warm Heart of Africa. The country markets itself as the Warm Heart of Africa but it has been subject of depressing news such as rampant corruption; attacks on […]
Kasungu South-East member of Parliament (MP) Khumbize Kandodo-Chiponda (Malawi Congress Party-MCP) has decried the poor state of the national economy and the rising poverty level in the country. Kandodo-Chiponda despite the government claiming positive ecomonic data such as reduction of inflation to single digit, there is no real effect trickling down to the citizenry. “The difference between 24 per cent to […]
Zomba Chingale, member of Parliament (MP) Wallace Chawawa (People’s Party –PP) has said the micro-economic indicators that governmetn says were stable and inflation was declining will somehow “trickle down” to the poor. He told Parliament that micro-economic indicators given by government that they were stable and that inflation was declining and that the exchange rates were […]
The State President, Professor Arthur Peter Mutharika says the coming of the Lilongwe Grand Business Park in the city is testimony that the direct investment program is delivering results by bringing money and jobs into the country. The President made the statement during the ground breaking ceremony for the construction of Lilongwe Grand Business Park […]
Member of Parliament for Mchinji South West (Malawi Congress Party –MCP) Deus Gumba Banda has bemoaned the plethora of crises that puts Malawi as a failed state. Banda told Parliament that electricity blackouts which are now at the rate of 37 hours out of every 48 hour period of the time are as calamitous to the people’s livelihoods […]
Malawi economy remains on “life support” and has deteriorated despite government projecting a rosy picture, opposition Malawi Congress Party (MCP) member of parliament for Lilongwe North, Patricia Mkanda has said. In response to President Peter Mutharika’s speech during the opening of the 47 session of parliament, the Lilongwe North MP said the country’s economy is in […]
Malawi government has said it has no intention to put into circulation new K5 000 banknote after the plans has not pleased some consumers and economic commentators, who argue that the move points to longer term macro economic downturn. Minister of Finance, Economic Planning and Development Goodall Gondwe told official Malawi News Agency (Mana) that […]
Minister of Finance, Economic Planning and Development Goodall Gondwe says plans are at an advanced stage to introduce a K5 000 banknote, designed to reduce the cost of printing money. He ismissed assertions that introduction of such a high value banknote would in the near future be inflationary, saying Malawi is already experiencing low inflation […]
Minister of Finance, Economic Planning and Development Goodall Gondwe has disclosed that Malawi will soon introduce the new kwacha note, K5000. At the moment the highest denomination note is 2,000 kwacha. However, some economic observers say the K2 000 note has lost value with a lot of it in circulation resulting in the general public carrying large […]
As Malawi grapples with a power crisis partly caused by years of insufficient investment in infrastructure that is heaping more pain on the country already ailing economy, an economist has warned of far more negative implications for the nation if there will be no solution in short term. Every day the nation is experiencing blackout […]
Think of the burden on our children and grandchildren. This is a message resonating from the National Association of Smallholder Farmers in Malawi (Nasfam) concerns over the rising debt levels by government reportedly at K2.4 trillion. Nasfam chief executive officer Betty Chinyamunyamu observed that the government is borrowing a lot to service projects that have […]
Standard Bank says it is well positioned to uplift small and medium enterprises reap the benefits from Malawi’s current economic growth and positive outlook for Gross Domestic Product (GDP). Speaking at an interaction with key customers in the business and enterprise egments in Lilongwe, Standard Bank Group Head of Business Banking Andrew Robertson said current […]
Minister of Finance, Economic Planning and Development, Goodall Gondwe says people in the country need to safeguard public resources if the economy is to grow. Speaking in Lilongwe at the Bingu International Convention Centre (BICC) on Wednesday, Gondwe said it is high time people in the country started generating integrity and respect for public resources […]
Leader of opposition and Malawi Congress Party (MCP) president Lazarus Chakwera, has said the current talk about Malawi’s inflation easing to a single digit is just a lie and a fluke as any such major economic shift would translate into socio-economic growth and improved life among the majority of Malawians. Chakwera said authorities are falsify […]