There is now an improved availability of foreign exchange since Malawi devalued its currency, Dora Banda, Marketing Manageress of state-run Malawi Savings Bank has said. Banda said people were now using bank’s bureau to change their money unlike the past when they were going for black market. “People have started bringing forex but in small […]
The Anti Crisis Bureau (ACB) headquarters is advising the general public in Malawi through you the media that a dangerous criminal Mr. Crisis has escaped lawful custody from undisclosed prison in the Republic of Malawi where he was remanded over the past 2 years awaiting trial. At the time of his escape, Mr. Crisis is believed to […]
Malawi President Joyce Banda is leaving no stone unturned in her firm efforts to ensure that the country is corrupt free with every citizen having an equal share of the pie. On Friday, President Banda ordered the grubby Malawi Revenue Authority (MRA) to clear its mess and also advised the Immigration Department to ensure that […]
Informal exchange rate of the green buck has taken a knock, slipping from about K320 to a dollar to about K285 a dollar just hours after the donors under the Common Approach to Budgetary Support (CABS) indicated that their aid to Malawi was on the way. The all important grouping of Malawi donors were meeting […]
As we speak, people are weeping and wailing because the Malawi Government has devalued the over-valued currency the Kwacha, which was not backed by any foreign exchange reserves, nor any export commodities of note, save for tobacco. In the face of tobacco’s increasing poor performance, Malawi’s major source of foreign exchange are grants from bilateral […]
Over 60 Foreign Exchange Bureaux playing in all major cities of the country under different names were seen on Monday morning to have started dusting their cash safes, counters, cleaning windows and carpets signalling a pole position stance to start business and probably an early demise of what are called the black markets. During the […]
One of South Africa’s major retailers, Pick n Pay says Malawi’s current lack of foreign currency might inhibit the company’s plans to invest massively in the country. “Our immediate challenge would be to grow and enable the local supplier, manufacturing and agricultural sectors to sell local products as much as possible. However, our major financial […]
Police in Malawi on Monday stopped some members of the family of late president Bingu wa Mutharika as they were attempting to loot the New State House of money and other valuables which they claim belonged to their deceased relation. The family members were being assisted by some of the senior members of the former […]
Blantyre Magistrates court has convicted and fined K200,000 a South Africa based Nigerian Prince Chukudi Agu for being found in possession of foreign exchange currency without documentation. Prince was arrested by police on March 1, 2012 at Chileka Airport on his way to South Africa and was found in possession of US$ 14,000 (approximately 2.3 […]
The current foreign exchange situation in Malawi was triggered by a fall in tobacco earnings and donor aid inflows last year, the International Monetary Fund (IMF) has said. An all important IMF Mission was in the country until Monday this week among other things, having economic intercourse with government officials on widespread illness the economy […]
Malawi Police on Saturday evening released on bail John Kapito, who chairs the state-funded Malawi Human Rights Commission (MHRC), after charging him with possession of seditious material and foreign currency without valid documents. Earlier, security forces led by Lexa Chalera, the head of the Criminal Investigations Department (CID) of the Malawi Police, raided the house of Kapito in […]
Malawi Minister of Information and Civic Education, Patricia Kaliati, on Thursday launched a scathing verbal attack to Kenyan Airways after the airliner refused to sell her a ticket for a trip of a government officer to Tanzania because it could not accept the Malawi Kwacha currency. Kenya Airways and Ethiopian Airlines are charging their airfares […]
Malawi skies were a virtual no-fly zone as there are a few flights coming in and out at Kamuzu International Airport in the capital, Lilongwe because the country has run out of forex, Nyasa Times can reveal. Major airline operators have since cancelled all in-coming and out-going flights operations in the impoverished Southern African country due […]
Kenya Airways has announced it has suspended some services in Malawi including the night flights . “Due to reasons beyond our control, we regret to advise that we have suspended all night flights until further notice. This affects KQ 734, KQ732,” reads a notice by Ruth Maweu, Kenya airways Country Manager Malawi. The Kenyan airways […]
Malawi’s current economic woes are being fueled by some Indian business people who are also busy setting pace for the downfall of President Bingu wa Mutharika, a top ruling party official has alleged. The Democratic Progressive Party (DPP) Secretary General, Wakuda Kamanga, also accused the Indians of rejoicing the hardships indigenous Malawians are facing. He […]
It does not rain; it pours for motorists in Malawi. After an almost three-week break from long fuel queues due to the commodity’s scarcity, motorists have to brace for another fuel nightmare experience as fuel supply returns to being erratic. In Lilongwe, the capital city, fuel is completely scarce and the long queues of motorists […]
I find the contents of (22nd February 2012) Daily Times Page 3, entitled, “MP blames forex woes on Chinese” rather disturbing. Let me start by saying the following; the Chinese, apart from their home land, the People’s Republic of China, also live in almost every other country on this planet. They live and work in these […]
Malawi’s economic growth slowed more than expected to 6.0 percent last year, partly due to higher fuel prices and reduced income from lower tobacco prices, Finance Minister Ken Lipenga said on Thursday. The rate of growth was lower than government’s initial forecast of 6.9 percent after a 7.1 percent rise in 2010. “In the face […]