Malawi’s EU exports plunge

Malawi’s exports to the European Union (EU) plunged by 10 percent last year compared to 2012, with the country’s top five exports, tobacco, tea, sugar, coffee and nuts all falling. Available data provided by the Trade Law Centre (Tralac) indicate that in 2013, Malawi’s top 20 exports to the lucrative EU market raked in a…

2014/15Malawi Budget: Donors, experts welcome budget with caution

The country’s traditional donors and economic experts today welcomed the presentation of the K729 billion 2014/15 national budget as prudent but warned government to walk the talk or risk further economic stagnation. Donors have further said there will be no immediate return to budgetary support unless government observes fiscal discipline and seriously fight corruption. In…

Malawi cautioned on zero-aid budget

The country’s economic watchdogs and opposition political parties have backed President Peter Mutharika on the zero-aid budget, but have cautioned government to start planning long term on reduced donor budgetary support. Malawi President Mutharika told a rally in the commercial city, Blantyre on Sunday that the budget, due to be presented to Parliament today by Finance Minister…

The High Court in Lilongwe recently ordered that former president the late Bingu wa Mutharika and the Malawi Government erred in the 2008 installment of Senior Chief Dzoole in Lilongwe and has subsequently dethroned the current occupant of the chieftaincy. Judge Fiona Mwale ordered that the presidency should adhere to the Chiefs’ Act and ruled…

Cost of govt dismissals: General Odillo to be paid up to 2019

The purging of out-of-favour senior Malawi Government officials by in coming administrations continue to cost the taxpayer billions of kwacha as several contracted officials continue to receive their salaries and benefits while at home and doing nothing, Weekend Nation can reveal. And the new Peter Mutharika administration is following the same script, crafted by the Joyce Banda…

Malawi to formulate Agoa strategy

Malawi Government says it will seek to come up with a strategy to ensure the country fully benefits from the renewal of the Agoa trade agreement between the United States and African countries. A Malawi delegation led by President Peter Mutharika joined colleagues from some unprecedented 50 African States that accepted US President Barack Obama’s…

RBM ease fears over New Finance Bank

The Reserve Bank of Malawi (RBM) says the newly-licensed New Finance Bank will operate under a normal regulatory framework and there is no need for investors and depositors to be uneasy over its operations. The former Finance Bank was shut down a couple years ago and placed under voluntary liquidation but the RBM has once…

Minister of Trade and Industry Joseph Mwanamvekha has confirmed he is due to meet this week a group of disgruntled second-hand car dealers who are unsettled over a prospective launch of business in the country by Japanese-based company Be Forward. Mwanamvekha revealed the development in an interview with The Nation on Monday saying he will meet the group…

House meets with loaded agenda

The forthcoming sitting of the National Assembly may not just consider the 2014/15 budget as the major item on its agenda, all things considered. There is outstanding business from the previous meeting, including some substantive debate on the presidential jet sale and Cashgate—which got resuscitated. Looking at its campaign manifesto, the Democratic Progressive Party (DPP)…

Japanese car dealer move unsettles local businesspeople

A prospective launch of business in Malawi by Japanese-based second hand vehicle exporter Be Forward Japan has been received with discontent among local businesspersons trading in the industry. The Malawi Investment Trade Centre (Mitc) spokesperson Deliby Nyale Chimbalu while confirming the company was indeed in talks with Malawi authorities on launching their business in the…

The High Court in Lilongwe has terminated mediation in a case where private practice lawyer Chikumbutso Mkwamba dragged the Anti-Corruption Bureau (ACB) to court over unpaid legal fees. The Lilongwe-based prosecuting lawyer is demanding over K50 million as remaining unpaid sum plus interests and collection costs for services he rendered to the graft-busting body. Mkwamba…

Teachers told to fight child labour

Teachers Union of Malawi (TUM) has urged teachers in the country to take a leading role in the fight against child labour. TUM secretary general Dennis Kalekeni made the remarks on Sunday in Ntcheu District at a sensitisation meeting for primary school teachers as the union nears the rolling out of an anti-child labour campaign supported…

Chuka says fiscal indiscipline frustrating economy

Reserve Bank of Malawi (RBM) Governor Charles Chuka has warned that continued over borrowing and general lack of fiscal discipline is hurting the country’s efforts to curb inflation and reduce interest rates. “Government’s continued commitment to restoring fiscal prudence and efficiency in expenditure is key to macroeconomic stability and continuation of the IMF [International Monetary…

NGO calls for improved funding in Malawi mining sector

Malawi’s booming mining sector should result in increased funding, particularly to the Department of Mines, to enhance the development of institutional capacity, Citizen for Justice (CFJ), a non-governmental organisation (NGO) working in the sector, has said. The NGO says an influx of mining, oil and gas companies demands that authorities should do more to take…

Malawi Government will utilise the growing ICT portfolios of the Malawi Posts Corporation (MPC) in the delivery of the ambitious e-government project, Vice-President Saulos Chilima revealed yesterday. Chilima made the revelation when he officially opened the 33rd Ordinary Session of the Pan African Postal Union (PAPU) Administrative Council meeting in Lilongwe. He said the move…

Malawi’s banked population rises by 14%

The number of people accessing bank services in the country has jumped by 14 percent within five years. The financial inclusion figure is now at 54 percent from 45 percent in 2008, according to a 2014 consumer study by South Africa-based Finmark Trust. The Finscope Survey is carried out by the Johannesburg-based Finmark Trust and…

CfSC worried over Malawi’s heavy energy costs

Social watchdog, Centre for Social Concern CfSC) says the country’s poor living in both towns and villages are being subjected to ever skyrocketing costs of energy without abating signs. The body also fears that the country is suffering serious hidden costs to the environment due to lack of alternative sustainable sources of energy. The NGO…

Donors stop funding departments, police over Fisp

In a move analysts have described as a vote of no confidence in the country’s public finance management systems, donors financing the Farm Input Subsidy Programme (Fisp) have stopped giving government departments, including the Malawi Police Service (MPS), direct financial injection to carry out activities under the programme. The donors are instead channelling their funds…