President Professor Arthur Peter Mutharika Saturday opened a US$12 million (about K9 billion) Export Processing Zone (EPZ) factory at Raiply Malawi Limited in Mzimba District with a call for more investors to spur socio-economic growth of the country. Speaking after opening the factory, Mutharika said besides bringing forex into the country, the new factory will […]
The scandal surrounding Malawi’s politically connected Sterling Timber International has deepened, with an insider alleging that the government settled the company’s large debt to the state-owned Malawi Savings Bank. Sterling Timber received a 1.4-billion kwacha (R58-million) loan from Malawi Savings Bank (MSB) in 2011 to set up a timber processing plant, which it never built. […]
Malawi Police in administrative capital Lilongwe on Wednesday summoned award winning Nations Publications Limited (NPL) reporter Rabecca Chimjeka reportedly over some stories she has been doing pertaining to cashgate and widespread timber business involving some Cabinet Ministers. Chimjeka, a former Nyasa Times senior investigative reporter, was summoned to Central Region Police Headquarters in Area 3, according to […]
Malawi Police officers stormed the home village of spokesman for finance in the opposition People’s Party (PP), Ralph Jooma in Monkey bay and conducted door-to-door searches without warrant and harassed villagers in a mysterious operation that has Officer in Charge of Mangochi and Inspector General of Police are not sure who sanctioned the cops. The […]
After Nyasa Times reported that Malawi Revenue Authority (MRA) boss Ralph Kamoto h suspended commissioner for exports Shadrec Namalomba for facilitating to clear nine trucks belonging to ruling Democratic Progressive Party (DPP) lawmaker Noel Masangwi of round wood from Chikangawa meant for export, it has been revealed that the DPP heavyweight silenced MRA officials from […]
Malawi Revenue Authority (MRA) boss Ralph Kamoto has suspended commissioner for exports Shadrec Namalomba for facilitating to clear nine trucks of round wood from Chikangawa meant for export. The trucks that Namalomba cleared reportedly belong to ruling Democratic Progressive Party (DPP) lawmaker Noel Masangwi. According to an MRA staff circular number 28 dated February 20 […]
Malawi’s current finance minister, Goodall Gondwe, helped to facilitate a 1.8-billion Malawi kwacha state loan for a timber processing factory that, three years later, has not got off the ground. This week neither the wholly state-owned Malawi Savings Bank, which made the loan, nor the Treasury’s Export Development Fund, which guaranteed it, would explain what […]
The Timber Millers Cooperatives Union, an umbrella union of eight registered timber millers, has withdrawn an injunction which the High Court in Mzuzu granted it, stopping Sterling Timber International Limited, which the Union is the majority shareholder, from operating. According to a copy of the consent order filed at the Court, the Millers agreed to […]
The High Court in Mzuzu has ordered disgruntled and warring members of the Timber Millers Cooperatives Union, an umbrella union of eight registered timber millers, to have a meeting by June 1st, 2012 and resolve their differences. The Court also ordered all relevant stakeholders in particular the Export Development Fund Limited and the Registrar of […]
The High Court in Mzuzu has granted an injunction to Timber Millers Cooperatives Union, an umbrella union of eight registered timber millers, stopping the operations of Sterling Timber International Limited from transacting any business in the 53,000 hectare Viphya plantation in Mzimba district until a judicial review is done, Nyasa Times has established. The Timber […]