Ministry of Agriculture, Irrigation and Water Development has said agriculture could become the country’s key avenue for raising incomes, poverty reduction and food security if there are combined social protection and agricultural interventions. In an interview on Tuesday, Minister of Agriculture, Irrigation and Water Development Joseph Mwanamvekha said increasing output for some crops is…
Some international exhibitors who attended this year’s Malawi Investment Forum (MIF) have urged government to empower local entrepreneurs with bankable projects to venture into partnerships with potential foreign investors. In an interview with Business News on the sidelines of MIF 2018 last week, India based Solar Panel Manufacturer director Chintan Punawara said without joint ventures,…
Malawi Stock Exchange (MSE)–listed Telekom Network Malawi (TNM) plc has said the relatively stable and improved macroeconomic environment has helped anchor the company’s growth in 2017. TNM plc board chairperson George Partridge, speaking in an interview at the 23rd Annual General Meeting (AGM) held at Sunbird Mount Soche in Blantyre, said this was aside from…
Economists have asked authorities not to be carried away by the notable dominance of the wholesale and retail trade sector, saying this translates little to economic growth. The sentiments come in wake of Reserve Bank of Malawi (RBM) figures showing that wholesale and retail trade sectors have dominated the share of credit at…
Old Mutual plc plans to move its primary listing from the London Stock Exchange to Johannesburg Stock Exchange to shift its focus to the African businesses and investing in the growth opportunities on the continent. This follows a two-year process the institution embarked on to separate the Old Mutual plc business in four separate…
The Reserve Bank of Malawi (RBM) has revised the limit on the exportation of the kwacha to monitor the movement of cash as well as promote cross-border trade. In a statement, RBM Governor Dalisto Kabambe said cross-border traders may now export kwacha equivalent of $5 000 (K3.6 million) for purchasing merchandise across the border…
Malawi Stock Exchange (MSE) – listed FMB Capital Holdings (FMBCH) chairperson Terrence Davidson has hinted that the implementation of the bank’s strategic and transformative actions to grow the institution may see it listing some additional shares as one way of growing its capital. The bank, which has made some progress in growing its foot…
Malawi has earned more revenue from tobacco in the first three months of the marketing season compared to same period in the previous year, tobacco figures show. Figures provided by AHL Group indicate that after eight weeks of sales, 74.6 million kilogrammes (kg) of all types of tobacco have been sold at an average price…
The 10-day Malawi International Trade Fair (Mitf) ended on Sunday with stakeholders expressing different views on whether it was a success or not. While Malawi Confederation of Chambers of Commerce and Industry (MCCCI) communications manager Millie Kasunda said the fair was a success, some stakeholders argue that this is the worst trade fair they…
Local economists say the call by Macroeconomic and Financial Management Institute of Eastern and Southern Africa (Mefmi), a cooperative venture among 10 Southern African countries, including Malawi, to use Chinese yuan as a reserve currency for the region is ideal. University of Malawi’s Chancellor College economics professor Ben Kaluwa said making yuan a reserve…
The Reserve Bank of Malawi (RBM) says proceeds from tobacco have contributed to the stability of the kwacha and increased foreign exchange reserves. In an interview on Friday, RBM spokesperson Mbane Ngwira said: “We cannot rule out the fact that the tobacco dollars are having an impact on the kwacha. There are some purchases…
The World Bank has cautioned Malawi government to pay attention to social safety nets when designing poverty reduction policies. In its Malawi Economic Monitor titled Realising Safety Net’s Potential released on Thursday in Lilongwe, the Bretton Wood institution said there is evidence showing that social safety nets are making a substantial contribution in the…
Although the prior week was tough on African markets with most of the markets in the region closing on negative territories, Malawi Stock Exchange (MSE) triumphed along with Tunisia, an African Markets weekly commentary shows. An African Markets, a platform which aggregates news stories for 17 African stock markets, and provides data and snapshots of…
The Reserve Bank of Malawi (RBM) says it will focus on price and financial stability to maintain single digit inflation this year and achieve a medium-term inflation objective of five percent. In its report and accounts for the year ended December 31 2017 released on Wednesday, RBM Governor Dalitso Kabambe said they also…
In his late 50s, Fredrick Phauphau has eight children, three of which are working and taking care of themselves and the remaining five are still in his care. The man from Muthuphwa Villiage, Traditional Authority (T/A) Nkhumba in Phalombe District owns about two to three hectares of land on which he grows chillies and…
Malawi Stock Exchange (MSE) chief executive officer John Kamanga says despite less activity on the local bourse, the 13-counter shares market is moving in the right direction. “We have seen less activity on the stock market over the years, but the stock market does not operate on its own. “If you look at the…
Malawi Stock Exchange (MSE)- listed Blantyre Hotels Limited (BHL) has increased the number of its shares through a bonus issue and share split, a development that has improved trading liquidity of the shares. BHL board chairperson Vizenge Kumwenda said yesterday in Blantyre although the company has performed well over the last six years, the…
Minority shareholders of Malawi Stock Exchange (MSE)-listed companies have decried lack of information on the conversion of share certificates from paper to electronic, fearing some investors may be left behind. The Reserve Bank of Malawi (RBM)-based Central Securities Depository (CSD) has started conversion of share certificates from paper to electronic towards the Automated Trading…
The Centre for Social Concern (CfSC) has faulted some government’s priority areas in the 2018/19 financial year, warning the fiscal plan could widen the gap between the rich and poor. The sentiments are in reaction to the 2018/19 Budget Statement Minister of Finance, Economic Planning and Development delivered on May 18 in Parliament. The minister…
Local investment analyst Armstrong Kamphoni has described the Press Corporation Limited (PCL) recent acquisition of 10 percent stake in Sunbird Tourism plc as good for the shareholders of the company as well as the country’s tourism sector. PCL last week announced it has acquired a 10 percent stake in Sunbird Tourism plc, extending its investment…