Poor market surveillance poses threat to baby feed—Study

The International Food Policy Research Institute (IFPI) has faulted poor market surveillance and standards enforcement of commercially-sold premixed cereals (CPC) for poor nutritional quality of baby feeds from six to 24 months of age in the country. In its report titled Nutrient and Mycotoxin Content of Commercially-Sold Premixed Infant Cereals in Malawi, IFPRI reveals that…

Women lag in financial inclusion

Despite the country taking strides to increase financial inclusion, it has one of the highest levels of financial exclusion for women at 59 percent, against 53 percent for men, a recent Finmark Trust report shows. The Finmark Trust 2019 Measuring Progress of Financial Inclusion in the Southern African Development Commission (Sadc) study found that as…

Malonda leaves CFTC, decries low funding

Competition and Fair Trading Commission (CFTC) executive director Charlotte Wezi Malonda is leaving the institution after steering it for seven years amid low funding to the State agency mandated to promote fair trading and consumer protection. In a written response to a questionnaire yesterday, she said the commission adopted its first five-year strategic plan covering…

PCL prepares subsidiaries for potential listing

Press Corporation plc (PCL) says it is preparing some of its businesses for potential listing on the Malawi Stock Exchange (MSE). PCL group chief executive officer George Partridge said this during the dual-listed conglomerate’s 2018 Annual General Meeting (AGM) in Blantyre on Thursday afternoon. He said strategies being implemented target cost savings and efficiency in…

Current account  deficit narrows

Malawi’s current account deficit is expected to take a knock from an estimated 18.20 percent of gross domestic product in 2018 to 15.20 percent in 2020, as import growth falters, investment advisory firm Nico Asset Managers has said. The current account deficit is a measurement of a country’s trade where the value of the goods…

Lack of medical insurance haunts players

Lack of medical scheme and insurance policy in the country continues to put football players’ lives at risk. Yet Medical Aid Society of Malawi (Masm) offered a fair scheme for all TNM Super League teams players. Football Association of Malawi (FAM) and its influential affiliate Super League of Malawi (Sulom) have confessed that the situation…

Economists decry low investment levels

The Economics Association of Malawi (Ecama) has decried the country’s low levels of investments which it say is below the Sub-saharan Region (SSR)’s 20 percent average. Published figures from the International Monetary Fund (IMF) World Economic Outlook (WEO) indicate that Malawi has one of the lowest rates of total investment in SSA, with the average…

RBM banks on new regulation

The Reserve Bank of Malawi (RBM) says new regulation will now make it mandatory for all licensed businesses to deploy at least one electronic payment point in their premises. But the Chamber of Small and Medium Enterprises fears the move  will drive up the cost of doing business. In an e-mail response, RBM spokesperson Mbane…

Trade balance improves—report

Malawi’s trade balance with the rest of the world has improved to $1.42 billlion (about K1 trillion) from $1.31 billion (about K 970 billion), figures from African Export Import Bank (Afreximbank) show. In its 2019 African Trade Report, the bank reported that merchandise exports grew by 119 percent to $2.52 billion (about K1.9 trillion) from…

Firms challenged on jobs, growth

The United Nations Development Programme (UNDP) has challenged the private sector to spearhead job creation and economic growth by creating innovations that provide commercial and development impact. UNDP resident representative Shigeki Komatsubura said this on Tuesday in Blantyre on the sidelines of the launch of the 2019 agribusiness window of the Malawi Innovation Challenge Fund…

UK eyes Malawi for investment

Britain has identified Malawi, alongside 19 other African countries, as priority investment markets, a move that is expected to attract foreign direct investment (FDI) into the country. British High Commission Charge d’Affaires Gary Leslie said in an interview yesterday that among other countries listed as priority investment destinations are South Africa, Mozambique and Angola, with…

Nico Asset warns of inflation risks

Nico Asset Managers Limited has warned that expected maize price increases during the lean season will pile pressure on headline inflation and raise the cost of investment. In its 2019 Mid-Year Economic Report released on Friday, the portfolio and investment management firm observes that localised maize shortages in many parts of the Southern Region, which…

Paladin CEO speaks  on Kayelekera sale

Paladin Energy chief executive officer Scott Sullivan says while the sale of Kayelekera Uranium Mine frees up cash for the firm, the deal gives an opportunity to the new owners to focus on studies to reduce costs. Speaking in a television interview on Proactive Investors, Sullivan said assuming that the sale goes through; Paladin Energy…

MW among top African exporters

Malawi’s progress towards regional integration is yielding with the country  ranked among top-ten lead intra-Africa exporters. According to latest figures from the United Nations Commission for Trade and Development (Unctad) Economic Development in Africa Report,  at 38.3 percent, Malawi is the 10th leading intra-Africa exporter with Zimbabwe, Uganda, Togo Senegal, Djibouti, Lesotho and Kenya having…

FUND opens window for financial sector

Malawi Innovation Challenge Fund (Micf), a $24 million (about K19 billion) matching grant fund for the private sector, has challenged the financial sector to introduce innovative products that address the needs of small and medium enterprises. Micf director Buddhika Samarasinghe said this in Blantyre yesterday during the launch of a new window focusing on the…

Weather shocks dampen economy

Crop production losses resulting from the country’s over-reliance on rain-fed agriculture dominated by maize growing, continues to affect economic growth, an agriculture expert has said. In a written assessment, agriculture expert Tamani-Nkhono Mvula said with 99 percent of smallholder farmers growing maize and relying on a single rain-fed season, weather shocks are further worsening poverty…

Two oil exploration firms relinquish licences

Two oil exploration firms, Efora Company, formerly Sac Oil, and Pacific Oil Limited have relinquished ownership of their licensed blocks one and six, respectively, a move government says will not affect operations. The Malawi Government issued six oil and gas exploration and production licences in which 60 percent lies outside the lake. The country granted…

Speculation drives up maize prices

Maize prices have gone up by about 18 percent within a week, a development Grain Traders and Processors Association of Malawi has blamed on speculation. Business News spot checks in some selected produce markets show that a 50 kilogramme (kg) bag is now selling at between K9 500 and K10 000 from last week’s K8…

Players fear for gas sector

Players in the gas-sub sector have expressed fear over potential reduction in demand for gas following authorities’ decision to hike the product by 12.11 percent. On Saturday, Malawi Energy Regulatory Authority (Mera) increased the price of liquid petroleum gas (LPG) by 12.11 percent due to increased global prices and the depreciation of the South African…

TNM not affected by US-Huawei row—CEO

TNM plc chief executive officer Michiel Buitelaar says the firm is not affected by the row between US government and Huawei, the world’s number one telecommunications supplier and number two phone manufacturer. Speaking during the Malawi Stock Exchange (MSE)-listed firm’s annual general meeting in Blantyre on Thursday, Buitelaar said besides Huawei being one of their…