Nyasa Times has once again been vindicated. The June 13, 2011 Nyasa Times report said the Reserve Bank of Malawi (RBM) will put into circulation 1,000 Kwacha (about $6) bank notes, has now been confirmed. Reserve Bank of Malawi (RBM) Governor, Dr Perks Ligoya, told a news conference in Blantyre on Friday that the new […]
Reserve Bank of Malawi (RBM) deputy Governor Mary Nkosi says the southern African nation risks lagging behind in this highly intellectual global society if it does not adequately and appropriately embrace University Education. “The Bank also realises the importance of tertiary education in the economic development of this country and is also fully aware of […]
Malawi’s TNM Super League Champions Silver Strikers FC says they are planning to join the Confederation of African (CAF) Champions League if their sponsors, Reserve Bank of Malawi, give then a node to do so. This was disclosed by the club Board of Trustees chairman Kelvin M’mangisa on Friday when the team presented their K60 […]
The World Bank has partnered with Reserve Bank of Malawi (RBM) on a drive called Financial Sector Technical Assistance Project (FSTAP) which is will see an increase in rural financial services. The project is intended to push access to finance for about 3.5 million Malawian adults who have cash but cannot get financial services. At […]
The Malawi currency, the kwacha, has been losing value against all major world currencies, according to published report. Reserve Bank of Malawi spokesman Ralph Tseka confirmed that the depreciation, saying it is within a set band where the kwacha is officially allowed to fluctuate. He commented after Business Times had observed from the market that […]
The tendency of Malawi President Bingu wa Mutharika not to appoint some crucial deputy heads of government sections and departments is being felt at the Reserve Bank of Malawi (RBM). The President, who is yet to also appoint Deputy Inspector General of police, is supposed to appoint two new deputy governors at RBM. Sources from […]
Following mountainous pressures from the donor community and International Monetary Fund (IMF), Malawi has cowered and is doing something about its overvalued currency, the kwacha. Reserve Bank of Malawi (RBM) revealed that kwacha’s strength is weakening against other currencies including the United States dollar. Despite President Bingu wa Mutharika’s stubbornness that kwacha is not going […]
Malawi is heading back to its old ways of accumulating massive foreign debt barely 5 years after the international community approved a debt relief program for the Southern African country. Through Malawi’s securing of a $200 million (K34 billion), largely from various creditors, to steady the deteriorating economy the country has dramatically pushed up its foreign debt […]
There has been a radical shake-up at the Reserve Bank of Malawi (RBM) as part of the ongoing restructuring programme, Nyasa Times understands. The shake-up sees director of financial markets Henry Mathanga, who was recently involved in the release of $1.36 million about (K220 million) to his wife’s company to import fertilizer from Dubai without following […]
The Senior Resident Magistrate Court in Mzuzu has jailed Nelson Nyirenda to four years imprisonment with hard labour after convicting him on three counts of using, illegal possession and production of counterfeits bank notes. Police arrested Nyirenda on August 14, 2011 at Msongwe Township in Mzuzu after he knowingly used a fake MK500 note to […]
Malawi will hold its biggest ever bond sale on Friday as the government aims to raise 30 billion kwacha to restructure its domestic debt and develop a benchmark yield curve, a central bank official said on Thursday. The auction of 2-, 3-, 4- and 5-year notes will be open to domestic and offshore investors but […]
It is generally believed that everything happens for a reason. Therefore one can say that the recent comments by the Reserve Bank of Malawi governor, Dr Perks Ligoya on alleged mistakes on Kayerekera mining agreement , were for a reason. Most likely the governor might have wanted Malawians to know how the government seemed to […]
Uranium miner Paladin Energy has comprehensively responded to issues raised by Reserve Bank od Malawi Governor, Dr Perks Ligoya, saying contrary to the cricisim the Kayerekera uranium project in Karonga is bringing more benefits to Malawi exceeding K825 billion (about US$500 million.) Ligoya criticised Paladin saying Malawi rushed through the process of the Kayelekera uranium […]
Reserve Bank of Malawi (RBM) Governor Dr Perks Ligoya says there is no need to press the panic button for Malawians over devaluation of the Kwacha currency, saying it will not be done imminently. Ligoya had disclosed that the International Monetary Fund (IMF) “high powered team” will be coming in the country from December 1 […]
Reserve Bank of Malawi (RBM) Governor Dr Perks Ligoya has conceded that the country “made mistakes” in the way it handled the mining licence to Australian-based uranium- miner Paladin to develop the Kayelekera project. The central bank boss said government has realised some of the mistakes and would demand to “renegotiate” the deal. The mining […]
On Wednesday, Police in Blantyre arrested three tricksters who wanted to purchase agricultural products from farmers using fake Malawi Currency. Police identified the three suspects as Chancy Phiri who comes from Mchinji, Sam Sulumba of Zomba and Daniel Mussa whose home district is Mangochi. Blantyre Police Public Relations Officer Beatrice Mwachande said the three tricksters […]
Reserve Bank of Malawi Governor Perks Ligoya said on Tuesday that it is misleading to say that country’s economy was doing very well under the tenure of Bakili Muluzi than currently under economist President Bingu wa Mutharika. Economist and former diplomat Dr Jerry Jana told a radio interview on privately-owned Capital radio that “in the […]
Reserve Bank of Malawi (RBM) Governor Dr Perks Ligoya has disclosed that the International Monetary Fund (IMF) “high powered team” will be coming in the country in December to help reform the exchange rate and look at devaluing the Kwacha currency. IMF wants Malawi to further devalue the kwacha and liberalise foreign exchange before resuming the […]