Malawi Digital Broadcasting Network challenged on self financing

Government says it will not privatise the Malawi Digital Broadcasting Network Limited (MDBNL) instead the institution has been turned into a business entity to provide competitive digital broadcasting services to sustain its operations. Minister of Information and Communications Technology Henry Mussa acknowledged that government could not sustain the institution’s operations, hence, it decided to turn…

Ministry cautious on ICT taxes

Ministry of Information and Communications Technology says it is cautious to consider waiving taxes on information communication technology (ICT) equipment, a move which if implemented could reduce mobiles services costs Minister of Information and Communication Technology Henry Mussa said this at the weekend when he visited Airtel Malawi and some private media houses in Lilongwe…

NFRA in in K3bn maize procurement

The National Food Reserve Agency (NFRA) says it will buy 17 000 metric tonnes of maize worth K3 billion for storage in the strategic grain reserves (SGR). This is, however, contrary to recommendation by the Agriculture Committee of Parliament to use commodity exchange markets to procure the maize. Last year, the committee recommended that NFRA…

Bailed out!

The German Government has committed 58 million euro (about K48 billion) to Malawi for development programmes, a move government says is a sign of renewed donor confidence in Capital Hill. German Minister of Economic Cooperation and Development Gerd Muller made the commitment yesterday during a cooperation audience with President Peter Mutharika at Kamuzu Palace in…

Dairy industry  Grows by 14%

Malawi’s dairy industry last year registered a 14 percent growth courtesy of donor support, adoption of new milk preservation and dairy cattle breeding technologies. Malawi Milk Producers Association (Mmpa) national director Herbert Chagona, in a written response to a questionnaire, said milk volumes increased from 66 000 litres per day to 82 000 litres per…

MCCCI says capacity utilisation down

The Malawi Confederation of Chambers of Commerce and Industry (MCCCI) says despite the economy registering stability last year, most of the industries have been operating below capacity due to insufficient energy. MCCCI president Prince Kapondamgaga in an interview said as a result, industries failed to meet production demand. He said: “In 2018, we saw the…

Malawi lags in agricultural production in Sadc—FUM

Farmers Union of Malawi (FUM) says the modernisation of policies and legal framework governing the agricultural sector will help trigger agriculture commercialisation and productivity. FUM chief executive officer Prince Kapondamgaga said this in an interview on the sidelines of a sensitisation workshop for business journalists under the Association of Business Journalists (ABJ)on the review of…

Govt expects increased diaspora investment

Government says it anticipates increased investments from Malawians in diaspora following the passing in Parliament of the reviewed Citizenship Bill which provides for dual citizenship. Minister of Foreign Affairs and International Cooperation Emmanuel Fabiano said this when he launched a new bus company, Borneo Limited, which is offering passenger coach services. The company is owned…

Banks speak on long-term financing

Constant macroeconomic risks in a fragile economy and unpredictability of the exchange rate are among issues that make it difficult for local banks to finance long-term investment projects. In a questionnaire response, Bankers Association of Malawi (BAM) chief executive officer Violette Santhe was reacting to critics on why banks are not taking a risk to…

Power output improves to 280MW—Egenco

Electricity Generation Company (Egenco), the country’s main producer of power, has reported increased generation with a combined output of up to 280 megawatts (MW) from hydro and diesel-powered generators feeding into the national grid. The output represents an improvement in electricity generation which in recent years dropped to as low as 140MW against installed generation…

World Bank sees taxes choking investment

The World Bank has said Malawi’s tax regime remains prohibitive to attract meaningful foreign direct investment (FDI). In the newly released Malawi Economic Monitor report, the bank said there are wide concerns regarding Malawi’s taxation system which it noted negatively impacted private sector growth. “The investment allowances currently in force are insufficient to attract or…

New microfinance institution raises hope for cooperatives

Economics Association of Malawi (Ecama) says the move by the Community Savings and Investment Promotion (Comsip) to launch its microfinance company, Comsiv Limited, raises hope for the attainment of financial inclusion among its member cooperatives. Ecama president Chikumbutso Kalilombe said in a country where 71 percent of its population has no access to financial services,…

Tobbacco demand likely to dwindle—TCC

The Tobacco Control Commission (TCC) says there is a high possibility of tobacco demand dwindling due to dictates on the international market. TCC chief executive officer Kayisi Sadala said initially, buyers demanded 175 million kilogrammes (kg) to be produced in this tobacco growing season, but the demand has been reduced further. He said the figures…

Institutional growth impresses Luanar

The Lilongwe University of Agriculture and Natural Resources (Luanar) says it is impressed with institutional growth it has achieved as a fully-fledged university six years after delinking from the University of Malawi (Unima).  Luanar vice-chancellor Professor George Kanyama Phiri made the remarks during the institution’s third graduation ceremony that saw 1 673 graduands receiving certificates,…

Ombudsman to probe Escom fuel theft case

The Office of the Ombudsman is set to probe the Electricity Supply Corporation of Malawi (Escom) over the missing 4.2 million litres of fuel meant for diesel-powered generators that the power utility body hired from Aggreko Limited to reduce prolonged power outages. Escom has since said it will comply with the investigations. A letter sent…

Mitc to release new projects compendium

The Malawi Investment and Trade Centre (Mitc) is set to release the third edition of the project compendium, a booklet that outlines potential projects, both domestic and external investments can invest in. Mitc chief executive officer Clement Kumbemba told Business Review that the compilation of the new project compendium has been prompted by the fact…

Teveta seeks to integrate to regional skills framework

The Technical, Entrepreneurial and Vocational Education Training Authority (Teveta) says plans are at an advanced stage to integrate the country’s technical education qualifications framework to that of the Southern African Development Community (Sadc). Teveta executive director Wilson Makulumiza Nkhoma said in an interview that Teveta is producing more graduates who are not employed as such…