Malawi’s poverty profile will be affected with 5,000 families suffering job loses of the bread winners as plastic manufacturers are to effect job cuts following the ban of plastic bags whose thickness is less than 60 microns. Malawi banned production, importation, distribution and use of plastic bags in April 2013, but enforcement has been a problem […]
Malawin President Peter Mutharika has told London-based New African magazine that he inherited a “tattered and bankrupt economy” four years ago from his predecessor, Joyce Banda and he has been engaged in repairing the damage, saying so far he is leading the nation on a path of sustainable growth. Mutharika who is seeking a second […]
Malawi government has been advised to tame the borrowing appetite by cutting wasteful spending and focusing key areas following revealations that the country’s debt is set to rise by 473.6 percent as government plans to borrow about K176.1 billion in the next fiscal year starting on July 1 compared to K30.7 billion in the revised […]
Government’s executive arrogance and impunity has reached new levels with revelations that it has blown a whooping K420 million on new cars for three of its cabinet ministers. With tax-payers money, Capital Hill has bought three top of the range Toyota Prado VX vehicles for three cabinet ministers namely Jappie Mhango, Grace Chiumia and Goodall […]
Salima Central Parliamentarian, Felix Jumbe, says it is overstretched expectation that a leader can turn around Malawi’s economy overnight without nipping out what he has described as backward culture and religion, colonial mentality and tribal politics that are deeply entrenched in the country’s governance system. “These four key factors make what we are, make the […]
Kasungu north east MP Wakuda Kamanga has described as cosmetic the current performance of the economy. Speaking in parliament on Wednesday during his contribution to President Peter Mutharika’s tate of the nation address, Kamanga doubted the economy is performing well. “The government is just preparing figures just to please the IMF. The reality on the […]
President Peter Mutharika has given his state of the nation address (Sona) in Parliament on Friday to mark the official opening of the Budget session and said he is delivering what he promised to do in his first five-year term despite not being supported by donors. “Mr. Speaker, Sir, my Address this year is on delivering sustainable […]
The International Monetary Fund (IMF) Board has completed its assessment of Malawi’s performance on its Extended Credit Facility (ECF), allowing the global lender to make the loan of about K102.7 billion ($140 million) to be disbursed over a three-year period. The approval follows the IMF boss meeting in Washington DC on Monday April 30 2018 and enables […]
Oxfam Malawi has tipped government that there is need for a clear National Inequality Reduction Plan after observing that the gap between the rich and the poor keeps widening. This is containing in a report titled Closing the Divide in Malawi which propose solutions to reducing inequality in the country. Inequality has been described as the country’s […]
The local currency, the kwacha, has remained firm to major trading currencies for the past 14 months, but experienced a slight depreciation last month by shedding off K1, despite foreign exchange reserves increasing during the month, according to Reserve Bank of Malawi (RBM). But the central bank and economic commentators have said there is no cause […]
Government has announced bold expenditure control measures, which include an immediate order to stop recruitments and restrictions of top civil servants to travel in business class of aeroplanes. According to a circular signed by chief secretary to the government Lloyd Mhura, the expenditure control measures are with immediate effect. Others include an order that all government vehicles be parked […]
Some of the country’s economists have hailed the 2.6 percent growth in the average savings rate, saying it will inspire people to save more. The national savings rate is at 2.9 percent, which is below the recommended average of 12 percent. According to the Reserve Bank of Malawi (RBM), the country’s average savings rate has […]
In the developing world, a new payment model is emerging and Malawi government has embarked on a national awareness campaign on the adoption of electronic payments to ease transaction costs by consumers. The campaign, whose slogan is “Go cashless, use electronic payments”, is being carried out by the Ministry of Civic Education, Culture and Community […]
President Prof Arthur Peter Mutharika on Tuesday launched the Malawi Growth Development Strategy (MGDS) III, a national development blueprint which he has described it as a manifesto of the nation, saying it represents the collective hopes and dreams of the people, the convictions and aspirations of the country. Mutharika made the remarks at Kamuzu Palace in […]
President Peter Mutharika is scheduled to launch the Malawi Growth Development Strategy (MGDS) III, a national development blueprint on Tuesday in Lilongwe to accelerate growth and reduce poverty with a focus on improving the agricultural industry. Spokesperson for Ministry of Finance, Economic Planning and Development, Davis Sado, said the strategyfocuses on spurring growth and removing barriers to […]
The situation of poverty in Malawi “is deplorable”, and the Council for Non-governmental organisations in Malawi (CONGOMA) has challenged government to up its game in addressing it. A taskforce, Global Call for Action Against Poverty (GCAP) on sustainable development goals in Malawi, which CONGOMA is championing said “poverty levels were worsening.” In an exclusive interview […]
Malawian households are feeling the pain from rising inflation after the cost of living rose has gone up by one percent, from 7.1 percent recorded in December to 8.1 percent for January 2018, National Statistical Office (NSO) has revealed. On a month-on-month basis, inflation during the same period was recorded at 4.5 percent with food […]
President Peter Mutharika has been urged to renew his vows to fight corruption and be hands on in rebuilding the country’s economy as well as stamp out nepotism other than engage in hideous photo-opportunities staged by his inept handlers instead of tackling the real fundamental issues that are making Malawians angry. The IMF has projected the economy […]