Malawi’s economy has moved from “rescue to recovery” based on a number of economic indicators, according to the central bank. The Reserve Bank of Malawi (RBM) deputy governor (economics) Naomi Ngwira said in a Capital Radio programme, Economic Perspective on Sunday, the gross domestic product (GDP) is expected to jump, foreign exchange reserves have picked […]
Malawi is referred to as “the warm heart” of Africa because of its hospitable and peaceful environment. In most instances, the country which has peace is likely to develop because people are committed to development other than solving conflicts. Unfortunately, this is not the case with our mother land. We have been for many years […]
“Whatever my people should have or not, I want them to have three basic things. Enough food, decent clothes and houses that do not leak,” founding president late Ngwazi Kamuzu Banda’s simplified, household wealth creation strategy and focus on agricultural production. As daggers have been drawn for the showdown at this month end convention, it […]
Two companies involved in the capital and secondary markets have given out some reasons why the money market continues to be flooded with cash leading to sustained over-subscription of Treasury Bills (TBs). Both NBM Capital Markets Limited and Alliance Capital Limited said they are aware of the trend on the money markets and commented on […]
Britain has sent a clear message to Malawi that the developing southern African nation needs to stop relying on aid, saying the country should be migrating from the current aid dependency to trade. Almost half of this year’s national budget for Malawi will be financed by donor countries, including Britain. Speaking on the sidelines of […]
The economic outlook for the third quarter of 2013 is uncertain and tricky as Malawi approaches the election year 2014. This is the message contained in a second quarter report of the year by finance company Alliance Capital Limited published this week. The report says unless there will be controlled government spending the economic future […]
President Joyce Banda says she will commission the first 32 mega watts (MW) machine rehabilitated at Kapichira in August. The President was saying this during a rally in Salima on Tuesday while assuring the private sector that her government is doing everything possible to improve the business environment. “We want the private sector to operate without […]
New Labour Party president and 2014 presidential hopeful Friday Jumbe assessment on the state of the Malawi economy was rife with full of contradiction through the remarks he made on Zodiak Broadcasting Service Tiuzeni Zoona interview programme on Sunday. Jumbe, an economist who served as finance minister in the United Democratic Front (UDF) led government, decried the state of […]
National Bank of Malawi (NBM) Capital says the ongoing oversubscription of Treasury Bills is indicating that there is little investment room on the money market or lack of innovation by players. In its market review report, NBM Capital noted that the primary TB auction continues to register oversubscription; with the June 25, 2013 auction recording […]
Presidential aspirant for the country and Malawi Congress Party (MCP), Felix Jumbe has said too little has been done to achieve real progress in government’s Economic Recovery Plan (ERP). Jumbe said although it is evident that the first step that Malawi needs to do to achieve sustainable economic recovery is value addition of agricultural produce […]
Apart from pruning what she may have considered dead wood as well as bringing on board veteran politician Brown James (BJ) Mpinganjira as 2014 elections draw closer, the other key talking point about the Cabinet that President Joyce Banda hired on Monday is the reduction of ministers from 36 to 32. Although Malawians would have loved to […]
The International Monetary Fund (IMF has said that Malawian macro-economic policy reforms have started yielding positive results but asked government to keep its spending within available resources. IMF Mission Chief for Malawi Tsidi Tsikata issued the advice at a news conference in Lilongwe on Tuesday at the end of the two-week review of the Malawi’s […]
The Malawi kwacha has opened this week on a high note as it is exchanging with the US dollar at around K320 on the market. The commercial banks and foreign exchange bureaus are buying the dollar at K320 and selling it at K324 while peddlers on the black market are pushing to match such offers […]
Malawian President Joyce Banda on Thursday, June 20, 2013, held talks with Dr. Denny Kalyalya, an Executive Director who represents the Malawi Government on the Executive Board of Directors of the World Bank Group. During the talks at Kamuzu Palace, Lilongwe, President Banda and Kalyalya exchanged views on the status of the partnership between the […]
The World Bank says Malawi’s economy is recovering with official figures’ estimates showing an expected growth of 5.7 percent in agriculture and more than 6 percent growth in manufacturing. The Bank disclosed this on Tuesday evening when its highly powered delegation of more than 10 officials had audience with President Dr. Joyce Banda at Kamuzu […]
President Joyce Banda has asked shop owners and service providers to respond to the improvements that the Malawi economy is registering by reducing the prices of the goods and services. Speaking when she presided over the elevation of Traditional Authority Liwonde to Senior Chief at Namandanje Primary School in Liwonde, Machinga, President Banda lamented that […]
The country’s largest bank by assets, National Bank of Malawi (NBM) has warned that the combined effect of the tight monetary policy and weak fiscal performance is likely to maintain the high interest rate and inflationary environment for some time. This follows market data from the Reserve Bank of Malawi (RBM) that it mopped up […]
The International Monetary Fund (IMF) has reiterated to Malawi that policy continuity is critical for curbing inflation and for a sustained recovery despite increasing calls from the civil services and NGOs for government to manage economic hardships on the citizenry by raising wages and minimizing tax burdens on the citizenry. In its May 2013 Malawi […]