Malawi tea penetrates US, Canada markets

Malawi tea is now being recognised in Canada and United States of America (USA), thanks to good agricultural practices that have become a strong determinant of tea-sourcing decisions and choices by tea buyers worldwide. Tea Association of Malawi (Taml) chief executive officer Clement Thindwa said on Monday that international buyers lean towards tea producers that…

Inflation rate  drops to 8.3%

A Malawi’s year-on-year inflation rate for October 2017 has dropped by 0.1 percentage points to 8.3 percent from the previous month’s 8.4 percent, figures from the National Statistical Office (NSO) released yesterday show. The minimal drop could be a reflection of the increase in non-food inflation by 0.1 percentage points to 11.7 percent in October from…

RBM calls for inclusive, transformative growth at 2017 Ecama conference 

The 2017 Economics Association of Malawi (Ecama) Annual Conference has opened in Mangochi with call by Reserve Bank of Malawi (RBM) deputy governor Grant Kabango for authorities to plan for inclusive and transformative growth. “Economic growth is said to be inclusive when the growth creates opportunities for all segments of the population and the benefits…

Standard Bank East Africa Media Forum opens in SA

The Standard Bank East Africa Forum 2017 opened yesterday in Johannesburg, South Africa with a call to journalists to have an in-depth understanding of banking operations and opportunities for business. In her speech, Standard Bank Group head of media relations-Africa Region Kate Johns called for building relations and sharing insurance insights between the bank, which…

Inflation hits single digit

  Malawi’s inflation as measured by the Consumer Price Index (CPI) has hit a single digit of 9.3 percent, the first time in more than six years, National Statistical Office (NSO) figures show. The Reserve Bank of Malawi (RBM) had forecast that the rate of inflation will hit a single digit by December this year…

Icam banks on 5-year  strategic plan for growth

The Institute of Chartered Accountants in Malawi (Icam), a grouping of professional accountants, has thrown its weight behind its five-year strategic plan, saying it sets the tone for long-term growth. The plan, which was launched on Friday in Blantyre and will run from 2017 to 2021, will ensure that accountancy qualifications, standards of accounting and…

National fibre backbone an economic enabler—Dausi

Minister of Information and Communications Technology Nicholas Dausi has reiterated that the $23 million (K17 billion) National Fibre Backbone Project is an economic enabler that will result in reduced Internet costs. Speaking in Machinga yesterday at the demonstration site where he appreciated works being done by Huawei Technologies, the minister said all sectors of the…

Dutch investors eye Malawi tea market

A seven-member delegation of Dutch investors is in the country to evaluate Malawi tea for export to their market. Malawi is the second largest tea producer in Africa after Kenya and the industry contributes about seven percent to the gross domestic product (GDP). The delegation comprises tea importers, tea shop owners, health consultants and bank representatives,…

Malawi inflation rate down to 16.1%

Malawi inflation has continued its downward spiral with the February rate recorded at 16.1 percent, a 2.1 percentage points drop from 18.2 percent in January as food prices continue to drop. A statement issued by the National Statistical Office (NSO) yesterday shows that the drop in inflation is largely on account of the decrease in…

Mwanza tops in Malata Subsidy execution—Muluzi

  Minister of Lands, Housing and Urban Development Atupele Muluzi has hailed Mwanza District Council for the implementation of Decent and Affordable Housing Scheme Programme (Dahsp) popularly known as Malata and Cement subsidy programme. On Saturday, the minister, accompanied by officials from his ministry and the council, inspected some of the houses built under the…

Legumes production, a solution to forex woes—AHCX

  Malawi could do away with perennial shortages of foreign exchange during the lean period if it intensifies production and export of legumes to the Asian markets, AHL Commodities Exchange (AHCX) officials have said. Malawi’s export base rests on a few commodities, with tobacco—currently under worldwide anti-smoking campaign—bringing in a lion’s share of foreign exchange.…