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Malawi: Kwacha devaluation causes panic

Fri, 20 Nov 2009 11:54:00 +0200

The government's decision to devalue the local currency, the Malawi Kwacha, last week has sparked fears that it might affect interest and inflation rates.
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FNB officially launches Zambia operation

Wed, 28 Oct 2009 10:20:00 +0200

LUSAKA: First National Bank announced yesterday, 27 October 2009, the launch of its Zambia operation. The operation was officially opened by the president of Zambia, President Rupiah Banda. The company's banking license was issued on 25 November 2008.
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Malawi starts exporting uranium

Wed, 21 Oct 2009 11:03:00 +0200

Malawi has started exporting uranium, which is going through Zambia before departure for overseas using the Walvis Bay of Namibia.
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Air Malawi's survival dependant on public

Thu, 15 Oct 2009 10:37:00 +0200

Air Malawi CEO Wisdom Mchungula has confessed that the debt-riddled airliner is surviving by the mercy of Malawian public. The CEO made these confessions in the presence of the Malawi Parliamentary Committee on Budget and Finance in Lilongwe last week.
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Reserve Bank of Malawi appoints new governor

Wed, 16 Sep 2009 10:11:00 +0200

President Bingu wa Mutharika, on Monday, 14 September 2009, appointed a new govener of the country's reserve bank. Dr. Perks Ligoya, who was director of economics in the finance ministry and initially worked at the central bank for 20 years, has already accepted the challenge.
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President Mutharika expels four tobacco buyers

Tue, 15 Sep 2009 07:33:00 +0200

President Bingu wa Mutharika, early last week, deported four tobacco buyers for allegedly conniving to sabotage the Malawi economy.
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Malawi: Bata Shoe Company turns 115

Tue, 08 Sep 2009 07:04:00 +0200

The Bata Shoe Company is celebrating its over 115 year survival in the business of making footwear by refurbishing its 32 shops across Malawi - a venture that will cost K50 million.
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Malawi establishes credit reference bureau

Fri, 14 Aug 2009 09:19:00 +0200

The Bankers Association of Malawi (BAM) has joined hands with Kenyan-based CRB-Africa to form the first of its kind Credit Reference Bureau (CRB-Malawi). BAM President George Partridge who is also the country's CEO for Malawi's largest bank by assets, the National Bank of Malawi (NBM) said the bureau would help commercial banks stop wasting time and resources trying to establish history of customers.
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K4bn tobacco company opens in Lilongwe

Thu, 13 Aug 2009 08:26:00 +0200

Kanengo Tobacco Processing Ltd (KTPL) has opened its doors in Lilongwe, Malawi with an investment of K4bn, becoming the country's third largest tobacco processing company after Limbe Leaf Tobacco Company and Alliance One Tobacco.
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Malawi clamps down on illegal currency dealers

Tue, 11 Aug 2009 10:11:00 +0200

As a shortage of foreign currency threatens to derail Malawi's economic growth, authorities have clamped down on illegal dealers of foreign currency with the court fining a Chinese national who was caught trying to smuggle out thousands of US dollars and arresting two local businessmen found in possession of fake foreign currencies.
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