The first accused in the Paul Mphwiyo shooting case, MacDonald Kumwembe, has asked three top government officials including deputy director of Anti-Corruption Bureau (ACB), Reyneck Matemba to testfy as his witnesses. Kumwembe also wants as witnesses former Secretary to Treasury during the time Mphwiyo was Budget Director, Newby Kumwembe. He has also lined up former […]
Malawi President Peter Mutharika has removed secretary to the Treasury (ST) Newby Kumwembe and Agriculture Development and Marketing Corporation (Admarc) cheif executive Jerry Jana in his latest round of purging public officers since he assumed power on June 1 2014. No reasons are being given so far for the sackings. Mutharika pledged not to sack […]
Malawi which is currently mauling over how to close financing gaps in the 2014/2015 national budget due to aid freeze, is again faced with another challenge of dealing with the ever soaring debt stocks now standing at K320 billion. The current debt stock means that the country has accumulated more than K100 billion debt just […]
Malawi’s Treasury has admitted that it over-borrowed domestically in the first quarter of the 2013/14 National Budget by K58.7 billion between July 1 and September 30 this year to beef up state confers. The revelation comes in the back-drop of the infamous cash-gate that has seen money in excess of 100 billion being looted from the same […]
Malawi’s Treasury has announced that the revised 2013/14 National Budget has gone up by K4.5 billion (about $11.2m) to K640.3 billion from the initially projected K635.8 billion. Secretary to the Treasury Newby Kumwembe told the Budget and Finance Committee of Parliament in Lilongwe Wednesday that the rise has come against a background of government trimming by K32 […]
The newly appointed Finance minister Dr. Maxwell Mkwezalamba will have to work with new secretary to treasury Newby Kumwembe who has been appointed by President Joyce Banda as Principal Secretary for Finance replacing career bureaucrat Randson Mwadiwa. When asked to confirm the movements, Office of the President and Cabinet spokesperson Arthur Chipenda said: “There are a […]
President Joyce Banda has appointed one of staunch critics of the previous regime, Chancellor Kaferapanjira, as principal secretary in the Ministry of Trade and Industry replacing long serving Newby Kumwembe, a midweek Business Times newspaper reported. Kumwembe has been moved to Finance Ministry as PS responsible for administration. However, Kaferapanjira, Chief Executive Officer for Malawi […]
It never rains but pours for Malawi which is suffering from continued forex and resources supplies, as this time the World Bank statistics have shown that country’s rate to doing business is on the lower side. The World Bank’s investment arm, International Finance Corporation (IFC) annually produced the ‘Doing Business’ report which analyses regulations affecting […]