[Gregory Gondwe] 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] Reserve Bank of Malawi (RBM) governor, Dr Perks Ligoya clashed with Paladin Africa Limited, a company that mines Uranium at Kayelekera in the country's northern district of Karonga.
[Gregory Gondwe] 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] BLANTYRE, MALAWI: Last week Thusday, 29 September 2011 was a special day for local investors when Old Mutual Malawi launched its new subsidiary company, Old Mutual Unit Trust Company.
[Gregory Gondwe] 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] The President of Malawi, Bingu wa Mutharika's government which had been adamant on devaluing the national currency, the Malawi Kwacha (MK), has finally succumbed to the pressure.
[Gregory Gondwe] 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] 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] 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] 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] 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] 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] The World Bank has projected that minerals would become one of Malawi's main sources of foreign direct investment and generate up to 25% of export earnings in the next few years.
[Gregory Gondwe] Game Stores, which touts itself as Africa's largest discount retailer, opened its doors in Malawi's capital city Lilongwe on Thursday, 18 November 2010 - an investment worth MWK2 billion. The Lilongwe store is number 45 in Africa.
[Gregory Gondwe] The World Bank Malawi office has announced that the bank's new access to information policy has become effective as of 1 July 2010, a move it described as one of several major reforms the bank has undertaken to increase its effectiveness, efficiency, and accountability.