Mining sector gets a boost

Government plans to establish the Malawi Mining Authority to regulate activities in the mining industry as well as to champion sectoral investments. Minister of Finance Joseph Mwanamvekha revealed the development on Monday during the presentation of the 2019/2020 National Budget in Parliament. According to the minister, mining is among government’s key priority areas, hence, the…

Directive excites growers with excess tobacco

Tobacco growers have expressed excitement with the decision by Tobacco Commission (TC) to reverse its earlier decision to punish growers who overproduced tobacco this year. Last week, the tobacco regulator announced that growers who overproduced tobacco beyond their allocated quota will have 75 percent of their revenue collected by the TC while they remain with…

Donors, economists react to budget

The country’s development partners, local experts have described the K1.731 trillion 2019/20 National Budget as developmental, saying government has focused on key areas that need urgent attention to spur socio-economic growth and alleviate poverty. Minister of Finance, Economic Planning and Development Joseph Mwanamvekha presented the budget statement in Parliament yesterday, which he described as pro-growth.…

Treasury hails NBM Development Bank

Minister of Finance, Economic Planning and Development Joseph Mwanamvekha has commended National Bank of Malawi plc for establishing the NBM Development Bank Limited, saying it will contribute to the country’s economy and poverty alleviation. Speaking during the launch of the bank in Lilongwe on Friday, the minister said the Malawi Stock Exchange-listed bank is the…

4 pillars to anchor 2019/20 fiscal plan

Ahead of 2019/20 Budget presentation in Lilongwe today, Minister of Finance Economic Planning and Development Joseph Mwanamvekha has outlined four key growth areas that will anchor the fiscal plan. In an interview in Lilongwe on Friday, the minister said the four pillars that will help to  grow the economy are agriculture, energy, trade facilitation and…

‘Masiku 100 a Mutharika sanakome’

Mtsogoleriwa dziko lino Peter Mutharika sabata yatha adakwanitsa masiku 100 pampando wa pulezidenti koma panyengoyi sadamwe wa mkaka.. ChiulutsirenikupambanakwaMutharika, Amalawi ataponya voti pa 21 May 2019, dziko la Malawi layendam’mikwingwirimayokhayokhapomweAmalawienaakhalaakuchitazionetserozosonyezakusakondwandimomwechisankhochichidayendera. Ngakhalemalamulo a dziko lino amaperekampatawochitazionetserozamtendere, zionetserozaulendounozaonetsaAmalawizambiripomwekatundu, bizinesi, galimotozaanthukomansozabomazawonongedwa. Izizafikapovutakwambirimpakabwalolailandusabatayathalidagamulakutipasachitikensozionetserokwamasiku 14 kutimbalizotsutsanazikambiranekutizionetserozozidzaayendabwanjimwabata. Katswiri pa ndale Ernest Thindwawatim’masiku 100 oyambirira a utsogoleriwaMutharikaAmalawiaonambwadza. Iyewatikwanthawiyoyambachiyambireniulamulirowazipanizambiri, AmalawiaonakugawanamitundundipoPulezidentiangoyang’anira. “Ngakhalemlanduukadalikukhoti, Mutharikandimtsogolerimpakakhotilidzagamulemwanjiraina. AkadakhalawinaakadagwiritsantchitomphamvuzakekulunzitsaAmalawindipoanthuakadamukonda,”…

RBM sees mining growth at 5.8%

Mining and quarrying sectors are projected to grow by 5.8 percent in 2020 up from the current 3.6 percent projection this year, a figure which is higher than 2.1 percent estimated in 2018. The Reserve Bank of Malawi (RBM) Financial and Economic Review for the second quarter of 2019 indicates that there is an expected…

Committee against fiscal wastage, corruption

Budget and Finance Committee of Parliament has asked Treasury to ensure that the 2019/20 National Budget is people-centred with no room for wastage, corruption, misprocurement and private sector arrears. The committee’s chairperson Sosten Gwengwe said in an interview on Tuesday because of the challenges, citizens do not fully benefit from the budget. The remarks follow…

Low tea prices worry Malawi growers

The Tea Association of Malawi (Taml) has expressed concern over continued low tea prices that buyers are offering at its Limbe market, fearing it may affect growers revenue and its contribution to the economy. Taml chief executive officer Beyani Munthali on Tuesday said on average—as of this month (August)—the prices per kilogramme (kg) of tea…

TC downplays impact of market suspension

Tobacco Commission (TC) on Wednesday suspended selling of tobacco in all its markets across the country owing to security concerns in view of the  planned demonstrations which were later cancelled. TC corporate planning and development manager Hellings Nasoni said in an interview on Tuesday the suspension of the market was based on advice from security…

Road hauliers, SMEs feel pinch of demos

Road hauliers and small business operators say the continued wave of demonstrations is creating a hostile business operating environment. Road Transport Operators Association (Rtoa) president Abdul Lambat said in an interview that the demonstrations have created fear among transporters as most trucks are being parked to ensure safety of goods and life. He said transporters…

Govt upbeat on power interconnector project

The Department of Energy Affairs says the signing of 30 million euro (about K25 billion) grant by the Mozambican Government with the German Development Bank (KfW) gives hope that the power interconnector project will commence next year as planned. The Mozambican State-run power utility, Electricidade de Moçambique (EDM), on Friday signed the grant agreement with…

Treasury moves to shift budget focus

Treasury says it is mulling over preparing an investment-oriented budget, which will be a complete departure from a heavily consumption fiscal plan. This follows long-standing concerns from commentators and economic think-tanks that the country’s budget largely focuses on consumption other than investment, citing the Ministry of Agriculture, Irrigation and Water Development financial plan. In an…

Ministry hails EU irrigation support

Government has commended the European Union (EU) for funding irrigation programmes under the Ministry of Agriculture, Irrigation and Water Development, saying they will alleviate food insecurity in the country and economically empower prople. Speaking when he commissioned Tchanga Irrigation Scheme in Dedza yesterday, Minister of Agriculture, Irrigation and Water Development Kondwani Nankhumwa said government has…

Jica trains Lilongwe teachers in computer repairing skills

A Japan International Cooperation Agency (Jica) volunteer Takaaki Shiraishi on Wednesday trained teachers from 10 secondary schools  in Lilongwe in basic computer repairing. He said he conducted the day-long training after noting that lack of the computer repairing skills was forcing many secondary schools to dump their computers when they develop minor faults.  The course was…