Malawi's donors under the Common Approach to Budget Support (CABS) have asked the country to revive its International Monetary Fund (IMF) program or forget their financial assistance.
Gregory Gondwe 8 Dec 2011
The International Labour Organisation (ILO) has released a report on Malawi which is trying to establish on how monetary policy instruments can be used to encourage Malawi onto a path of employment-generating growth. The report titled Macroeconomic policy for employment creation: The Case for Malawi released last month has identified three policy areas for consideration.
Gregory Gondwe 2 Nov 2011
The Reserve Bank of Malawi (RBM) has sought assistance from established firms or advertising agencies to provide currency public sensitisation service throughout the country on its behalf after the country has been badly hit by fake currency circulation.
Gregory Gondwe 27 Oct 2011
Malawi's central bank has issued a warning to the country after being severely hit by counterfeit notes of its biggest bill of 500 kwacha, a situation the Reserve Bank of Malawi (RBM) governor Dr. Perks Ligoya has described as undermining the integrity of the national currency.
Gregory Gondwe 30 Sep 2011
One of Malawi's two mobile phone companies, Telekom Networks Malawi Limited (TNM), which is incorporated in Malawi as a licensed mobile telecommunications operator has announced a 23% growth which the company has attributed to various innovative product offerings and promotions.
Gregory Gondwe 12 Sep 2011
The newly appointed chairperson of the African Association of Central Banks (AACB), Perks Ligoya who is also governor for the Reserve Bank of Malawi (RBM), said he will now fast track the establishment of African Central Bank which has been on the card for some time now.
Gregory Gondwe 19 Aug 2011
Packaging Industries Malawi (PIM) Limited has been allowed by the commercial court to delist from the Malawi Stock Exchange (MSE) following a decision from the company's minority shareholders to sell their shares to South African-based Transmar Limited. PIM, established in 1969, was listed on the Malawi Stock Exchange in 1998.
Gregory Gondwe 13 Jul 2011
British Petroleum (BP) Malawi has become part of a US$296 million acquisition of Trafigula Group's PUMA Energy that bought BP assets in five Southern African countries of Malawi, Zambia, Botswana, Namibia, and Tanzania. BP Malawi was co-owned by BP Africa and Malawi's conglomerate Press Corporation Limited (PCL).
Gregory Gondwe 17 Jun 2011
Malawi's position paper presented at the 10th African Growth and Opportunity Act (AGOA) forum in Lusaka, Zambia has asked the US government to simplify its import approval procedures - without in any way sacrificing safety - in order to facilitate greater trade from Africa.
Gregory Gondwe 13 Jun 2011
Traders and consumers were last week surprised to find that fifty kwacha bank notes that were purportedly meant to be circulated on 30 June 2011 were already on the market. The Reserve Bank of Malawi (RBM) confirmed that it has indeed released millions of 50 kwacha notes into circulation over one month ahead of due time.
Gregory Gondwe 6 Jun 2011
Malawi's finance minister Ken Kandodo delivered the 2011/ 2012 budget speech last month, which aims at ending the forex shortage which has scared away investors and is threatening Malawi's economic growth. In the K307bn budget, Kandodo said government acknowledged the forex problems within the country.
Gregory Gondwe 6 Jun 2011
The pulling out of donors in Malawi forced President Bingu wa Mutharika to announce on Monday, 23 May 2011 that, for the first time ever, Malawi will run a zero-deficit national budget. The announcement was made during his state of the nation address for 2011 which signaled the opening of the 2011/2012 budget meeting in Lilongwe.
Gregory Gondwe 25 May 2011
The European Union, mid last week, announced the approval of €161 million (approximately MWK 34 billion) that will go towards a package of six strategic programmes. This assistance is in line with Malawi's 2010 Annual Action Programme under the 10th European Development Fund (EDF). About €12 million (approximately MKW 2.8 billion) of this money will go towards a new Capacity Building Programme for Trade and Private Sector Development.
Gregory Gondwe 23 May 2011
A billion Africans and 50 million bank accounts. In South Africa, credit cards are used by only 16.5% of the population (2008). No African country comes close to 1% of total retail spend spent online - the magic figure which constitutes the tipping point for digital retail growth. No wonder, then, that the ecommerce market in Africa hasn't bloomed.
Herman Manson 12 May 2011
If there were any doubts that the future of tobacco, which is Malawi's top forex earner, is bleak, this year's goings at the country's tobacco auction floors have strengthened this case. Over 70% of Malawi's annual foreign exchange is accrued through tobacco exports while government also rakes in over 40% of its taxes and fees revenue from the crop.
Gregory Gondwe 7 Apr 2011
The Zimbabwe government has blocked the purchase of a 24% stake in TM Supermarkets by South Africa's retail group Pick n Pay due to an indigenisation law requiring foreign and white-owned firms to relinquish control to black Zimbabweans.
Dumisani Ndlela 20 Jan 2011
The recent global recession has changed our world forever. In a new digital age, characterised by oversupply and too many product types in almost every market, the challenge for companies will be to locate and capture pools of high-profit demand and be able to move with speed and flexibility to take advantage of them. Here are 11 trends for 2011.
Gisèle Wertheim Aymés 18 Jan 2011
If 2010 could be summed up as soccer, vuvuzelas and national pride, 2011 will be all about the hard work of restoring the economy to sustainable growth, paying attention to environmental concerns and mastering the technologies that are changing the world. Here are a few trends to watch in 2011.
Janice Spark 17 Jan 2011
South Africa's Massmart, a sitting duck for a US$2 billion takeover bid by US retailer Wal-Mart Store Inc., has sold its Zimbabwe unit to retail group, OK Zimbabwe. The deal ends months of speculation over Massmart's planned disposal of Makro Zimbabwe and the identity of the buyer.
Dumisani Ndlela 10 Dec 2010
Zimbabwe's Meikles group has agreed to allow Pick n Pay to rebrand TM Supermarkets after a deal in which the South African retailer will shore up its shareholding in the supermarket chain to 49%.
Dumisani Ndlela 2 Dec 2010