Malawi’s Reserve Bank Purchases 200 Kilograms of Gold Worth MK9.4 Billion
In a bid to boost the country’s foreign reserves, the Reserve Bank of Malawi (RBM) has reportedly purchased 200 kilograms…
Category: Business
Malawi’s President Vows to Review Mining Deals and Tackle Illegal Activities in the Sector
Malawi’s President Lazarus Chakwera has announced plans to review all poorly negotiated mining deals in the country to ensure that…
SHOCKING NEWS: FUEL DEMAND IN MALAWI SKYROCKETS TO 52 MILLION LITRES PER MONTH!
Malawi’s monthly fuel demand has jumped from 31-37 million litres in 2021 to 52 million litres per month due to the industry’s reliance on diesel. The Kapichira outage has exerted pressure on the country’s forex reserves and the industry has been subjected to expensive diesel for close to a year. The Malawi Confederation of Chambers of Commerce and Industry calls on the government to resolve the Kapichira outage and bring fuel prices under control.
Malawi Confederation of Chambers of Commerce and Industry (MCCCI) calls for government to establish Special Purpose Vehicle/Industrial Development Fund
The Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has called on the government to establish a Special Purpose Vehicle (SPV) or Industrial Development Fund in the upcoming 2023/24 budget. The fund aims to provide patient capital for investments in the manufacturing sector, as the MCCCI believes that boosting manufacturing will lead to forex generation and promote import substitution.
Reserve Bank of Malawi Rejects Foreign Exchange Auction Bids, Keeping Kwacha Stable for Remainder of January
Reserve Bank of Malawi Rejects ADB Bids in Foreign Exchange Auction, Stabilizing Kwacha for January
NOCMA Fuel Import Contracts Case Halted: High-Profile Individuals Accused of Misusing Public Funds
High-profile fuel import contracts case hearing cancelled in Lilongwe court due to Judge’s schedule. Case involves accusations of attempting to influence a public officer in violation of Corrupt Practices Act. Defendants include former Minister of Energy, Presidential Aide and Alliance for Democracy President
Joyce Banda Foundation International and FDH Bank Join Forces to Support Women-Owned Businesses in Malawi
FDH Bank plc and Women in Marketing Activities and Initiatives (Mwai) have joined forces to empower women-owned small and medium…
Malawi Stock Market Thrives in 2022: MSE Reports Increase in Share Volume and Value, Positive Returns for Investors
The Malawi Stock Exchange (MSE) has reported a return on index (ROI) of 36.74% for the year 2022. According to…
Malawi Broadcasting Corporation Cancels Copyright Agreement with COSOMA: How Royalty Collecting Societies Work with Broadcasters Worldwide
The state broadcaster of Malawi, the Malawi Broadcasting Corporation (MBC), has decided to terminate its long-standing copyright agreement with the…
The Devaluation of the Malawi Kwacha: Causes, Impact and Solutions
The devaluation of the Malawi Kwacha has been a major concern for the country’s economy in recent years. The currency…
Ex-Deputy Governor of Reserve Bank of Malawi Arrested for Allegedly Falsifying IMF Financial Reports: Henry Mathanga faces charges
Henry Mathanga, the former deputy governor of the Reserve Bank of Malawi (RBM) was yesterday arrested and released on bail…
Karim Batatawala’s Platinum Investment Limited and Henry Dama Phoya involved in dubious Land Deal
The wrangle for land between the Department of Museums and Platinum Investments Limited has been settled with the Department reclaiming…