The Reserve Bank of Malawi (RBM) is on the drive to consolidate the gains from the various innovations in the digital financial services space to accelerate the shift from paper based payments instruments, such as cash and cheques to electronic based services. In that vein, the RBM on Wednesday organised a conference at Sun ‘n’ […]
At a Financial Services Lawyers conference at Nkopola Lodge in Mangochi on Monday, Deputy Governor of the Reserve Bank of Malawi, Dr. Grant Kabango disclosed that several multinational companies are under investigation under the suspicion of externalizing agricultural produce and products by under-declaring the sale of prices. He said the companies are concealing a goal […]
Reserve Bank of Malawi (RBM) governor Daliso Kabambe has blamed the high maize prices to panic buying, saying the grain scarcity rumour mongers are pushing the prices up. He said in addition, some maize traders are buying the maize in large quantities and hoarding it in anticipation of maize scarcity so that they could in […]
A top official of the central bank has expressed worry of the ever increasing prices of the staple food, maize, saying this could trigger inflation. The Reserve Bank of Malawi governor Dalitso Kabambe said he was worried with the maize prices despite the fact that the country registered bumper yield this year. “This situation is […]
Reserve Bank of Malawi (RBM) has announced that it has maintained the policy rate—also known as the bank rate—at 13.5 percent and that the country’s economy is expected to grow by 5% this year, up from 4% the previous year. RBM Governor, Dalitso Kabambe said this to reporters in Mzuzu at the Reserve Bank Mzuzu […]
UTM Party president Saulos Chilima on Sunday gave the tip of the iceberg on the alleged abuse of State funds at the Reserve Bank of Malawi (RBM) nad Blantyre Water Board (BWB), accusing the two institution of blowing over K2 billion during the electoral period. Chilima gave the hint during a televised rally he held […]
The Treasury is reportedly continued to borrow through Treasury bills (T-bills), with figures showing that government borrowed MK113.5 billion in three months, a situation that continues to bloat the domestic debt. Figures from the Reserve Bank of Malawi (RBM) show that the MK113.5 billion was borrowed against the projected MK190 billion. Malawi Government’s public debt […]
Malawi Police have made more arrests of four more Reserve Bank of Malawi (RBM) employees in connection with K354 million feared stolen at the central bank. Police earlier arrested RBM manager (fiscal operations) Charles Mchakulu, two other central bank’s employees as well as enterprenuer Lucy Rachel Sukali trading as Ideal Stationery. They cops have since […]
Malawi Police have arrested Reserve Bank of Malawi (RBM) manager (fiscal operations) Charles Mchakulu, two other central bank’s employees as well as enterprenuer Lucy Rachel Sukali trading as Ideal Stationery in connection with K354 million feared stolen at RBM. National Police spokesperson James Kadadzera confirmed the arrests and identified the other cebtral bank’s employees as […]
Reserve Bank of Malawi (RBM) is investigating its manager (financial operations) Charles Mchakulu after an audit results revealed that K340 million has been stolen. The central bank has included in the probe, other law enforcing agencies such as Fiscal Police, Financial Intelligence Agency (FIA). RBM spokesperson Mbane Ngwira said: “K340 million is suspected to have […]
The Reserve Bank of Malawi (RBM) has said cryptocurrencies are not legal tender in Malawi and should not be used for the discharge of any obligations that suggests they are a perfect substitute to the Malawi Kwacha. In a statement released on Monday, Governor of RBM Dr. Dalitso Kabambe said the Central Bank has noted […]
A Reserve Bank of Malawi chartered plane which took huge sums of money for the central bank was forced to delay landing at Kamuzu International Airport (KIA) in Lilongwe on Tuesday morning after many attempts due to fog. Civil Aviation department deputy director Don Chimtengo said the plane was coming from Brussels in Belgium to […]
The Reserve Bank of Malawi (RBM) has resolved to slash the policy rate—also known as the bank rate—aa key driver of interest rates on loans—to 13.5 percent in the short-term on account of continued decline in inflation and sustained economic gains. The decisions RBM Governor Dalitso Kabambe announced at a news conference in Blantyre pushed the […]
The Reserve Bank of Malawi (RBM) has announced it will on Tuesday hold a symposium in the commercial capital Blantyre whose aim is to discuss pension funds investment in infrastructural development. In a statement signed by RBM governor, Dalitso Kabambe, the symposium will be held at Sunbird Mount Soche Hotel under the theme ‘Investing Our […]
Reserve Bank of Malawi (RBM) legal counsel Thabo Chakaka-Nyirenda who is pursing further studies at University of Sussex in England has been has been elected in the institution’s student union as an National Union of Students (NUS) Black Student’s Delegate. As NUS Black Student’s Delegate, Nyirenda, 36 said he will be representing the Union on […]
Reserve Bank of Malawi (RBM) governor, Dalitso Kabambe, says it is appalling that millions of dollars in forex continue to be moved out of the country by unscrupulous persons and companies at the expense of Malawi’s economy. Kabambe announced that in the last year alone the country has lost a whooping USD394.60m–what he pegged to […]
State is pursuing 10 cases of money externalization on the courts after the government lost $394. 60 (about K240 billion) in criminal externalisation in the past three years. Reserve Bank of Malawi governor Dalitso Kabambe said this has prompted the bank to partner with seven other government agencies to fight the criminals who externalize the […]
Reserve Bank of Malawi (RBM) officially launched its 2019 to 2021 Strategic Plan to guide its operations for the next three years and has also developed the Malawi Kwacha Smartphone Application in its efforts to bring down counterfeit currency. Launching the Plan and the App at their Blantyre offices, RBM Governor Dalitso Kabambe said the central […]