President Peter Mutharika is maintaining his script about his success in turning around the economy of Malawi after he interited empty coffers from his predecessor Joyce Banda in 2014. Mutharika, an international and constitutional law expert, has said his government took painful steps to stabilize the economy and the currency, the kwacha, and brought inflation […]
The Reserve Bank of Malawi (RBM) has maintained monetary policy —also known as the bank rate—at 16 percent to consolidate possible build-up of inflation risks and ensure inflation rate remains in single digit. The central bank’s Monetary Policy Committee (MPC) made the decision after a Macro-economic Conditions Review Meeting where they observed that inflation edged […]
President Peter Mutharika used the United Nations podium on Tuesday to highlight that the Malawi economy has improved in the last four years under his leadership and the welfare of the people has been better under the Democratic Progressive Party (DPP) rule as the country goes to polls next year. Mutharika will be seeking a […]
Poverty in Malawi is extensive and deepening with life expectancy for Malawians now stands at 63.7 from the previous 63.8 mark, a latest United Nations Development Programme (UNDP) Human Development Index (HDI) report has revealed. The report shows that people’s living standards stagnated in 2017 and categorised the country in the low human development category, […]
Many years ago, the brilliant Lucius Banda had a lamenting line in one of his haunting songs, in which he mimics an Asian boast: dziko ndi wanu, ndalama ndi wathu (you, Malawians, own the country but we, Asians, have the money). That much has remained largely true. For years, Malawians have sought for a pathway […]
President Peter Mutharika has said developing economies have a lot to learn from the Chinese economy taking into consideration the fact that not long ago China was a developing country on the same economic scale to countries such as Malawi. Mutharika was speaking at the University of International Business and Economics (UIBE) after he was […]
The University of International Business and Economics (UIBE) in China has honored President Prof. Arthur Peter Mutharika with an honorary professorship for economic prudence. Speaking when he conferred the Professorship, the university’s President; Wang Jiagiong said the UIBE which is the second ranked university in China in terms of specialisation in economics has decided to […]
Political and economic commentators have said there is no need for “pessimism” in vice president Saulos Chilima’s one million job creation promise, saying it is a possible dream. University of Livingstonia political analyst George Phiri said this is disappointing to note the stand taken by President Peter Mutharika in doubting the the plan, saying as he should […]
Malawi government has been advised by India that it should desist from over borrowing, saying the loans that are being taken will burden the future generation in paying back and drag national development down. Indian High Commissioner Suresh Kumar Menon gave the advice in Lilongwe, saying loans tend to work against the real development that […]
First Merchant Bank says it will next week start retrenching some members of staff after it closes two of its branches and merge some of them in what the bank says business rationalization. In a statement, the bank says all those who will lose their jobs will receive their retrenchment packages. “First Merchant Bank wants […]
An announcement by Treasury that it has introduced a new system to control spending of public funds among government ministries, departments and agencies (MDAs) against a background of widespread cases of fraud, abuse and over expenditure has dominated the leading daily newspaper on Wednesday. ‘Treasury moves to control spending’ reads the headline in The Nation […]
President Arthur Peter Mutharika and his Namibian counterpart, Hage Geingob Friday held a bilateral meeting in Johannesburg during which they tipped each other on how to achieve economic independence. The meeting was held on the sidelines of 2018 BRICS Summit which the two leaders were attending. Minister of Foreign Affairs and International Cooperation Dr Emmanuel […]
Malawi is doing everything possible to become a dependable partner and team player in the Common Market for Eastern and Southern Africa (COMESA) region, as the member countries make progress economically, said President Peter Mutharika on Wednesday in Lusaka, Zambia. He was speaking during the 20th session of the COMESA Heads of State and Government […]
President Peter Mutharika has said the economy has improved in the last four years under his leadership and the welfare of the people has been better under the Democratic Progressive Party (DPP) rule but economic experts say the economic gains are not trickling to ordinary people. Speaking at a political rally on Saturday at Mpherembe […]
Malawi’s former president Bakili Muluzi has expressed worry over increasing rate of poverty and unemployment among youth 54 years after independence. Muluzi made his comment to the flagship newspaper, the Daily Times, as the difference in lifestyles between the rich and poor is so glaring that one can fairly call it a tale of two […]
Reserve Bank of Malawi (RBM) has announced that it has maintained the policy rate—also known as the bank rate—at 16 percent. Addressing a news conference in Lilongwe on Wednesday, RBM Governor, Dalitso Kabambe said THE central bank’s Monetary Policy Committee (MPC) made the decision after a Macro-economic Conditions Review that took place on Tuesday 3 […]
Malawi has reduced extreme poverty levels by at least 4 percent between the years 2011 and 2017, a recent report by the National Statistics Office (NSO) has said. NSO released the latest Integrated Household Survey (IHS4) report Tuesday at Golden Peacock Hotel in Lilongwe. According to the new report, the most significant decline in ultra-poverty […]
President Peter Mutharika has said he his government wants to increase electricity supply to at least 1,000 megawatts, from 350 megawatts currently and for private investors to help fund new plants, saying a year after after elections which he hopes to get another five-year mandate, there will be no more power outage. Malawi’s efforts to […]