Minister of Finance Fleix Mlusu has disclosed that the Tonse Alliance government has cancelled the International Monetary Fund (IMF) programme, the Extended Credit Facility (ECF), with immediate effect. Mlusi made the disclosure when he was presenting the 2020/21 national budget in Parliament, Lilongwe on Friday. “Madam Speaker, following discussions between the Tonse Alliance Government and […]
Finance Minister Felix Mlusu has announced an increase of tax free band from K45,000 to K100,000, a tax measure which was announced in the K722 billion provisional budget but was not implemented. Mlusu said when he presented the 2020/21 national budget in Parliament on Friday. He said government realizes the need to increase disposable income […]
Minister of Finance Felix Mlusu on Friday unveiled a K2.190 trillion national budget in Parliament geared more to fulfilling campaign promises of Tonse Alliance made ahead of the June 23 Fresh Presidential Election as well as in President Lazarus Chakwera’s first State of the Nation Address (Sona) delivered in Parliament last Friday. The national budget, […]
Minister of Finance Felix Mlusu has told Parliament in Lilongwe when he unveiled the Tonse Alliance government’s maiden budget that indoor netball court project and Mzuzu Youth Centre will commence during the 2020/21 financial year. The new fiscal plan–will cover the period between November 1 2020 and June 30 2021— builds upon the K722 billion four-month […]
President Lazarus Chakwera has appointed a cabinet committee on Public Private Partnership (PPP) which will, among other things, provide high level strategic and policy advice to government, with a view to promote private sector growth. PPP is a contractual relationship in which the private sector is allowed to invest and deliver service in areas that […]
The African Development Bank (AfDB) is set to release $45.07 million to help boost the Malawi National COVID-19 Preparedness and Response Plan by financing the government’s response to the health, social and economic impacts of the COVID-19 pandemic. The Minister of Finance Felix Mlusu confirmed the development with Nyasa Times in a telephone interview a short while […]
New Minister of Finance, Felix Mlusu has announced that 3.5 million smallholder farmers will benefit from the new government subsidised fertilizer programme in the 2020 to 2021 financial year. During campaign, President Lazarus Chakwera and Vice-President Saulos Chilima, promised to reduce fertiliser prices to K4 495 per 50 kilogramme bag. At times the energetic Chilima […]
Government has reviewed it allocation to Malawi Enterprise Development Fund (Medf) for youth and women from K15 billion to K40 billion. Presenting the four month provisional budget in Parliament on Tuesday, Finance Minister Felix Mlusu says the Medf fund will later be increased to K75 billion. “Our focus in this programmes is to ensure we […]
The main opposition Democratic Progressive Party (DPP) spokesperson of finance in Parliament Joseph Mwanamvekha has welcomed Finance Minister Felix Mlusu by congratulating him for the appointment. Speaking in Parliament, in response to Mlusu’s four month provisional budget, Mwanamveka said DPP will scrutinize the budget swiftly to ensure that Malawians benefit. “I do not have much […]
The Tonse Alliance led government has increased the tax free band from 45 000 to K100 000. This was revealed by Finance Minister Felix Mlusu on Tuesday while presenting the four month provisional budget. Mlusu says the increased is a deliberate move by government to ensure that Malawians have enough money in their pockets to […]
Finance Minister Felix Mlusu made his debut in Parliament on Wednesday when he presented a four month provisional budget pegged at K722 billion. The amount will form part of the 2020/21 National Budget to be prepared and presented later within the four month period. The provisional budget comes following the change of government from Democratic […]
Newly appointed Finance Minister Felix Mlusu has disclosed that he will accommodate advices from former Treasury chiefs in a bid to improve the welfare of Malawians. Mlusu, a former insurance company director, was named Malawi’s new finance minister on Monday, a day after President Lazarus Chakwera was sworn in following last week’s re-run election in […]
Newly appointed Minister of Finance, Felix Mlusu, will present the provisional budget in Parliament this Tuesday, newly appointed Leader of the House, Richard Chimwendo Banda confirmed. Mlusu will present to the House a provisional budget to cater for government business in the interim as the new administration of President Lazarus Chakwera works on a full […]
President Lazarus Chakwera has announced a partial Cabinet that, give it a second look, stirs a mixed feeling of hope and anxiety. You have to be hopeful to see the energetic and workaholic Vice president Saulos Chilima back to head Public Sector Reforms where, after making great strides, he left a gap his contemporaries failed […]
President Lazarus Chakwera on Monday appointed Felix Mlusu as Finance Mnister. The country’s new purse keeper is a former chief executive officer of Malawi Stock-Exchnage listed NICO Holdings Limited. Born on 23 March 1951 in Lilongwe, went to Likuni Boys Secondary School and was selected to go on to the University of Malawi. He is […]
New Malawi President Lazarus Chakwera has named a new government on Monday in which former Nico Holdings managing director Felix Mlusu will assume the role of finance minister, the government said in a statement. Mlusu is a financial executive who served as managing director of the Malawi Stock Exchange (MSE)-listed conglomerate Nico for 41 years. […]
Wananchi Group, the holding company for premier home entertainment provider Zuku TV, has completed its test phase in Malawi and confirmed it is set to fully launch its services as part of its strategy to grow its TV operations in Africa. The move, which is being set up at an initial cost of $10 million (K4 […]
Malawi’s Nico Holdings Limited has opened a new branch in Mozambique that aims at providing premium insurance services and pension management in that country. The company’s Managing Director, Felix Mlusu said in Blantyre at a press conference recently that that highlighted a milestone through 40 years of the company’s operations. Mlusu said the branch called […]