Reserve Bank of Malawi (RBM) has left the benchmark lending rate unchanged at 27 percent, the central bank has said. RBM said in a statement the banking rate is unchanged owing to weak growth and lower agricultural production due to a severe drought. “The MPC (Monetary Policy Committee) observed that global recovery was fragile and the […]
Government says it has instructed Malawi High Commissioners and Ambassadors to have five local staff in Malawi missions abroad as cost cutting measure. Foreign Affairs minister Francis Katsaira said the government will also trim Malawi staff for each mission to five or six. “What we are doing now is that we are recalling all our […]
For years, Malawi has banked on the international community forthe development of its roads, factories, airports, railway lines, ICT infrastructure, water treatment plants, energy supply and even toilets. Yet despite all the assistance from organisations such as the World Bank and regional body, the Southern African Development Community (SADC), Malawi is now poorer than it was two […]
Malawi on Monday silently commemorated the World Population Day as population boom continues to negatively affect social services. Population expert Dr Collins Kalua said there was need to sensitize the youth, who are the bulk of the population in Malawi, to delay marriages as way of slowing the population growth. “The best way to delay […]
We are having a telephone conversation when, suddenly, one of us is thrown into darkness. Lights out. It is an interruption that rearranges both conversation and life itself. Indeed, for most Malawians, life revolves around the availability of basic services such as water and electricity. These days, both are scarce. The bills, however, increase every […]
Former Speaker of Parliament Sam Mpasu has observed that President Peter Mutharika and his government are to rescue the country from the hunger and economic crisis, offering tips on number of things that government can do to deal with the situation. Mpasu pointed ou that “Malawi can liberate itself” from the economic turmil and hunger […]
The World Bank has urged Malawi to develop a better system to mitigate agricultural shocks that may arise due to uncertainty of agricultural production factors like weather. The World Bank sounded the alarm Wednesday in Lilongwe after the launch of its third Malawi Economic Monitor report titled Absorbing Shocks, Building Resilience which has a special […]
The World Bank has said the Malawi economy is expected to grow by 2.6 per cent this year, sharply contradicting Minister of Finance, Economic Planning and Development Goodall Gondwe’s prediction of five percent. In its annual report of World Economic Monitor entitled ‘Absorbing shocks, building reslience,` the World Bank attributed the slow growth to the […]
An influential newspaper columnist has gone to town accusing the Peter Mutharika led administration of “ genocide” over report that 19 out 44 new born babies are dying every 28 days in the northern district of Mzimba, saying government is “doing it intentionally”. George Kasakula, editor-in-chief of Times Group writing on his ‘Hitting the nail’ […]
Parliament restricts Malawi public officers to using economy class when travelling as a cost cutting measure in these harsh economic times. This means government officials will no longer have the luxury of having the comfort in airlines business class with priority boarding, access to private departure lounges at airports, spacious leg room, higher quality food and […]
Opportunity Bank of Malawi (OBM) continues to close down its branches in Malawi as the economy continues to take a nose dive. The latest is Nsanje branch after Chitipa, Jeenda and Nkhata Bay last week. Inside sources say the branches are not making money that could meet operating costs. “People do not have enough money […]
Outgoing British High Commissioner to Malawi, Michael Nevin, has told the government to depoliticise the private sector if the country’s economy is to grow. Nevin, who is heading to Iceland on another diplomatic tour of duty, said the economy has potential to grow at a higher rate only if the government takes politics out of […]
Not so sweet news for consumers who will have to dig deeper into their pockets to buy sugar following an eight percent price hike by Illovo Sugar (Malawi) Limited. The sugar manufacturer’s public relations officer Ireen Phalula the sugar price adjustment is in response to “fundamental economic conditions in the country” affecting production such the […]
The Legatum Institute, a London-based think tank’s Africa prosperity index, published on Wednesday, indicates that Malawi has dropped four places ranked at number 24th most prosperous African country, ahead of Nigeria – Africa’s biggest economy – at 26th rank. The Legatum Institute’s Africa prosperity index, measures the human and economic prosperity of nations by eight subindexes , governance, […]
Opposition People’s Party (PP) Spokesperson on Finance Ralph Jooma has said Malawians should brace themselves for tougher economic times ahead, saying there will be no miracle for the healing of a limping economy, according to 2016/17 National Budget statement presented to parliament. Finance, Economic Planning and Development Minister Goodall Gondwe on Friday tabled in Parliament the K1.2 […]
Malawi should see economic growth pick up to 5.1 percent from about 3.1 percent, Finance Minister Goodall Gondwe told parliament citing International Monetary Fund (IMF) as an authority for such projections. He said the country has been affected by drought caused by the El Nino weather pattern. “Mr Speaker, Sir, as projected by the IMF, […]
Malawi’s economic expert Professor Ben Kalua of the University of Malawi has described the country’s economy as hopeless and helpless, saying the tobacco high rejection rate and low prices and low prices for tea and sugar are not helping matters. Kalua was reacting to reports by President Peter Mutharika and Finance Minister Goodall Gondwe that […]
Lyson Sibande I have written this article as my personal contribution towards the public discourse on the proposed introduction of hospitals fees and hike of fees in public schools. My view is that government has all reasons to impose hospital fees, and to hike school fees. I even recommend a speedy abolition of the free […]