Social cash transfer targeting faulted

A recent study on the social cash transfers in the country has faulted the targeting of beneficiaries to the programme, which it says is based on false assumptions about households. The ESRC-DFID-funded three-year collaborative research project titled Social Cash Transfers Programme (SCTP), Generational Relations and Youth Poverty Trajectories in Rural Lesotho and Malawi point out…

Pension Act review excites industry

National Bank of Malawi Pensions Administration Limited says it is banking on the review of the Pensions Act 2010 for the development of the sector. The firm’s chief executive officer William Mabulekesi said this on Wednesday in Blantyre on the sidelines of a pension workshop the firm organised for its clients and potential clients. He…

Rising maize prices Hit poor families

Poor households have started engaging in consumption-based coping mechanisms in response to rising maize prices, the Famine and Early Systems Network (FewsNet) has said. FewsNet Malawi Food Security Outlook for October 2019 to May 2020 indicates that despite near-average national maize production, food prices are way above average throughout the country with Mitundu in Lilongwe,…

Mera cautious on global  oil price decline impact

Malawi Energy Regulatory Authority (Mera) says although a decline in global oil prices is good news, its trickle-down effect largely dwells on whether the economy can hold some of its macroeconomic fundamentals. Mera chief executive officer Collins Magalasi said in an interview on Tuesday that global decline in oil prices could potentially ease consumers’ burden,…

Economists under the banner of Economics Association of Malawi (Ecama) converge on Mangochi tomorrow for a two-day conference to discuss critical matters affecting the country’s economy. At the centre of this year’s Ecama Annual Lakeshore Conference are the challenges and opportunities of population growth for the country’s economic development, which is also the conference’s main…

Collateral hampers SMEs access to loans

Despite softer lending rates, small and medium enterprises (SMEs) say they are still facing challenges to access finance due to strict collateral requirements. Chamber for Small and Medium Businesses Association executive secretary James Chiutsi said in an interview on Sunday that this scenario is stifling the growth of the sector that has the potential to…

Mining revenue stalls

Despite offering prospects of increased economic activities, revenue generated by the Department of Mines in the last two years has stalled. According to Treasury figures, between July 2017 to April 2018, the department generated K500 million from royalties, license processing and ground fees, just as the same period the previous year. During the review period,…

World Bank says women hold key to growth

The World Bank says closing the opportunity gap for women by removing barriers to their economic participation is key to boosting growth for economies in the sub-Saharan region, including Malawi. In its October 2019 African Pulse, the Bretton Woods institution said Malawi, alongside Angola, Botswana, Burundi, Chad, the Comoros, the Republic of Congo, Equatorial Guinea,…

Power outages affect firms

Business operators say they continue to lose revenue and incurring huge operating costs  due to continued power outages. In an interview, a small-scale entrepreneur based in Limbe, Brian Wasili, said his tech business has taken  a knock as he is out of business most of the times. He said he cannot afford a diesel-powered generator…

IMF says reforms key to debt reduction

The International Monetary Fund (IMF) says Malawi needs wider structural reforms accompanied by prudent fiscal policies to reduce fiscal deficits and public debt. IMF resident representative Farayi Gwenhamo said this in a written response on Monday in reaction to published figures from IMF Regional Economic Outlook for October 2019, whose launch is set for next…

Malawi debt sustainability good, says World Bank

Malawi is among six countries in the sub-Saharan region that have reduced the number of years to repay their public debt, thereby increasing its debt, the World Bank has said. In its October 2019 issue of Africa’s Pulse, the Bretton Woods institution singled out Malawi alongside Botswana, the Democratic Republic of Congo, Guinea-Bissau, Madagascar and…

Ministry promises business reforms

Ministry of Industry, Trade and Tourism has vowed to continue championing implementation and operationalisation of reforms to create a conducive doing business environment. The ministry’s Principal Secretary Ken Ndala said in an interview on Sunday that efforts to improve the business environment and investment climate continues at a steady pace. His comments come in the…

Maize prices continue to soar

Brace for tough times. Although maize prices in Malawi remained lower than in most eastern and southern African markets, a recent market survey indicates that the commodity’s prices in major markets in the country are almost double the minimum farm gate price. The report on the country’s 26 retail maize markets which was carried by…

Accountants challenged to embrace latest technology

 The Association of Chartered Certified Accountants (ACCA) has challenged its members to be in tune with latest technology to stay ahead of competition. ACCA Malawi Members’ Network Panel chairperson Wyson Kayira made the challenge on Friday in Blantyre during the association’s Data Analytics and Business Intelligence Tools Workshop. He said continuous professional development of members…

Malawi agro exports share shrinks—WTO

Malawi’s agricultural exports on the global market have over the eight-year period declined by 4.8 percent, published figures from World Trade Organisation (WTO) show. The figures show that during the same period, imports quickened by 2.2 percent. A WTO Market Access for Products and Services of Export Interest to Least Developed Countries (LDC) Report published…

Report ranks Malawi poorly

Malawi continues to lag behind on competitiveness in the world, a situation Economics Association of Malawi (Ecama) says could be improved by sustaining macroeconomic sustainability. Ecama’s views are based on the latest World Economic Forum (WEF) Global Competitiveness Index, which has ranked Malawi on 128 out of 141 economies, with a score of 43.4, below…

Govt revenue declines

Treasury has for the second month running in the 2019/20 financial year posted a decline in revenues, Reserve Bank of Malawi (RBM) figures show. According to the August 2019 Monthly Economic Report, total revenues in the month under review declined by K10.8 billion to K86.4 billion, following another decline of K35.5 billion recorded in the…

Plastic ban mixed fortunes

Government’s ban on thin plastics threatens 5 000 jobs and 29 percent of exports from the manufacturing sector, a situation that the Manufacturing Association of Malawi warns country needs to careful examine the ban. Recently published study by the United Nation Development Programme (UNDP) show that about 15 plastic manufacturing companies are in operation in…

Airtel Malawi commits to localise ownership

Multi-national mobile telecommunications network operator Airtel Malawi has committed to comply with provisions of the Communications Act to ensure that its ownership has 20 percent local shareholding. Airtel Malawi made the commitment in a statement yesterday in reaction to a K820 million fine Malawi Communications Regulatory Authority (Macra) slapped the operator for allegedly breaching provisions…