Financial inclusion seen rising to 70%

Government is targeting over 70 percent of Malawians accessing financial services by 2021 from the current 34 percent. This is according to the recent Financial Sector Development Strategy II which produced by the Ministry of Finance, Economic Planning and Development. With the strategy, government believes that inclusive finance will be essential for meeting its objectives…

K6.7bn dual carriageway to open October

  Ministry of Transport and Public Works has set November this year as the deadline for the construction of the dual carriageway between Bingu National Stadium and Parliament Roundabout in Lilongwe. The contractor for the 4.4-kilometre road is Mota Engil. Speaking when he inspected the site  on Wednesday, Minister of Transport and Public Works Jappie…

AU partners govt on  investment forum

  The Malawi government has partnered the African Union (AU) in the organisation of this year’s Malawi Investment Forum (MIF) slated for next week in Lilongwe. AU regional delegate to Southern Africa Leopold Augusto Ngomo said in an interview on Wednesday the decision is based on the fact that the private sector is the weakest…

Make tax incentives harmless—ActionAid

ActionAid has advised African countries, including Malawi, to ensure that tax incentives are not harmful to the ordinary people. In its report titled Tax Power Campaign, ActionAid has also recommended the elimination of tax holidays even in the mining sector. The non-governmental organisation estimates that Malawi lost about $43 million (K32 billion) at a time…

Energy, corruption threaten budget

  Economists have cited corruption and power outages as some of the constraints to successful implementation of the proposed K1.5 trillion 2018/19 National Budget. In their presentations during the Economics Association of Malawi (Ecama) Budget Review Workshop in Lilongwe on Tuesday, the economists agreed that more needs to be done if the economy is to…

ACB advises internal auditors to be ethical

  Anti-Corruption Bureau (ACB) director general Reyneck Matemba has challenged internal auditors to be ethical and exercise professionalism when discharging their duties to avoid recurrence of Cashgate in the public and private sectors. Speaking on the sidelines of a cocktail reception organised by the Institute of Internal Auditors Malawi (IIA-M) in Lilongwe on Friday, he…

Govt touts tourism as 500 students graduate

  The government says it will continue prioritising the tourism and hospitality industry to boost Malawi’s foreign exchange earnings required for socio-economic development. Minister of Trade, Industry and Tourism Henry Mussa said this on Friday when he presided over the 14th graduation of the Malawi Institute of Tourism (MIT) in Blantyre where 500 students received…

Chilima, DPP MPs in power play

Power play in the governing Democratic Progressive Party (DPP) reached another level in Lilongwe yesterday when 46 of the party’s 86 legislators endorsed President Peter Mutharika while scores of college students drummed up support for Vice-President Saulos Chilima. Chilima was presiding over the opening of an NBS Bank private banking suite at Presidential Villas whereas…

100 mayors to attend  LL mayor’s forum

Lilongwe City Council (LCC) mayor Desmond Bikoko says all is set for an international mayors’ forum scheduled for May 16-18 at the Bingu International Convention Centre (Bicc) in the city. Speaking during a briefing in Lilongwe on Friday, Bikoko said the council lobbied the United Nations Development Programme (UNDP) at a meeting in Laos last…