President says forex is hardest challenge, defends fuel and food record, and warns of more tax pain a year into his term Malawi’s president, Prof Arthur Peter Mutharika, has said the economic road ahead will be “rough”, acknowledging that foreign exchange shortages remain his most difficult problem and that further taxation will be unpopular but […]
Malawi’s government has ruled out devaluing the national currency, the Kwacha, even as a new World Bank report shows the country still grappling with serious economic headwinds despite some progress on public finances. Finance minister Joseph Mwanamvekha conceded that more needs to be done to deliver positive economic outcomes, but was unequivocal that currency devaluation […]
The World Bank has praised the Malawi government for demonstrating stronger financial discipline, saying public finances are finally showing signs of improvement after years of double-digit deficits. In its latest Malawi Economic Monitor, the Bank describes the shift as an initial step toward fiscal consolidation following a prolonged period of overspending. According to the report, […]
Malawi’s drive to build a mining industry around critical minerals is being held back by a chronic electricity shortage, according to a new World Bank report that warns the country’s mineral wealth could remain largely untapped without urgent power sector reform. The report, titled “From Potential to Prosperity: A Roadmap for Malawi’s Energy Transition Minerals”, […]
The World Bank approved on September 17 a grant financing package worth 287.8 billion kwacha ($165.9 million) for Malawi, aimed at strengthening resilience to climate and economic shocks while expanding access to jobs. The financing falls under a new initiative known as the Integrated Social Protection for Resilience and Opportunity Project, or INSPIRE-O. According to […]
The World Bank Group has appointed Ugandan economist Abdu Muwonge as its new Country Manager for Malawi. He takes up office this month, leading a portfolio of 23 lending operations valued at about US$3 billion. Based in Lilongwe, Muwonge will also oversee the operations of the International Finance Corporation and the Multilateral Investment Guarantee Agency […]
The World Bank has stepped up scrutiny of Malawi’s digital transformation agenda, holding high-level talks with the Malawi Communications Regulatory Authority (MACRA) to assess progress, expose implementation gaps and determine where further support is needed under the Digital Malawi Acceleration Project (DMAP). The mission, led by World Bank Team Task Lead Paul Ndungutse, met MACRA […]
Suspended Blantyre Water Board boss Yeremia Chihana has blasted the Board’s decision to send him home for the second time in five months, claiming he is being targeted for refusing to “dance to the tune” of powerful interests and for insisting on proper procedures in a multimillion‑dollar World Bank project. Chihana says the latest suspension, […]
The Malawi Revenue Authority (MRA) says recent investments in digital resilience and upgraded customs technology are beginning to reduce service interruptions and strengthen revenue collection, as the agency continues modernising its operations. Speaking this week, MRA director of information and communication technology Charles Fodya said the authority’s secondary data centre — which also functions as […]
Malawi’s agricultureMalawi has taken another step toward its long‑promised shift from subsistence farming to a modern, commercial agricultural economy, with Agriculture Minister Roza Fatch Mbilizi handing over 15 tractors and full sets of implements to farmer cooperatives across the country. The equipment — including harrows, ridgers, ploughs and trailers — was procured with World Bank […]
The gods of Tonse Alliance administration must be smiling as The World Bank Group’s (WBG) Board of Executive Directors announced yesterday in Washington that it has discussed the new Country Partnership Framework (CPF) for Malawi, which supports the creation of more jobs. The new CPF which will guide the World Bank Group’s work over the […]
Expectant and breastfeeding mothers in Likoma have commended Invest in Early Years Project for supporting them with goats as one way of improving their nutritional status. Speaking during the distribution of 184 goats on Friday, Hazel Ng’ombe, a beneficiary, said the goats will supplement six food groups. She said: “I am pleased to receive two […]
World Bank has expressed reservations with the Tonse Alliance administration’s K60 billion Affordable Inputs Programme (AIP) , saying the flagship programme is not sustainable and advised the Malawi authorities to review it. Tonse Alliance administration targets 4.2 million smallholder farming households will each access two bags of fertiliser weighing 50 kilogramme (kg) each at K4 495 […]
Chitipa District Council, through Agricultural Sector Wide Approach – Support Project (ASWAP-SP) ll has rehabilitated most of its crucial roads that connect farmers to rural markets. Through the project, which is supported by World Bank, the council has rehabilitated over 10 rural roads covering 96.4 Kilometers. The roads link most popular village markets of Kapirinkhonde, […]
Minister of Finance, Economic Planning and Development Jospeh Mwanamvekha has thanked the World Bank for funding to support Malawi’s response to the global Covid-19 (coronavirus) pandemic, describing the institution’s help as crucial to Malawi’s determination to prevent the spread of the virus. Mwamvekha said about $100 million has been injected by the World Bank to Malawi. […]
Malawi former president Joyce Banda and 11 other African leaders have called on the African Union, United Nations and World Bank to help condense the social and economic effects of coronavirus in Africa. Banda confirmed she is party to a statement signed by among others former president of Nigeria, Olusegun Obasanjo ; ex-Botswana President Festus […]
President Peter Mutharika has described the Agricultural Commercialisation (AGCOM) Project as a tool that will transform Malawi’s economy and enable the country transform into a producing and exporting nation. The country’s Head of State was speaking Friday when he presided over the official launch of AGCOM Project at Bingu International Convention Centre (BICC) in Lilongwe. […]
World Bank has urged Malawi Government to reform Agricultural Development and Marketing Corporation (Admarc so that it is able to play the role to which the corporation was established. Speaking at Bingu International Convention Centre (BICC) in Lilongwe during the launch of Enabling Business of Agriculture 2019 (EBA 19), World Bank Country Manager Greg Toulmin […]