The Malawi Government, the European Union (EU) and European Investment Bank (EIB) on Wednesday signed a €139 million (about K112 billion) financing agreement for the rehabilitation of 347 kilometre (km) of the M1. The rehabilitation will start from Kamuzu International Airport (KIA) junction in Lilongwe to Mzimba junction then from Kacheche to Chiweta in Rumphi.…

Ministry backs LWB investment plan

Ministry of Agriculture, Irrigation and Water Development has backed the Lilongwe Water Board (LWB) resource mobilisation drive to finance its projects to improve water supply for the capital city’s growing population. Minister of Agriculture, Irrigation and Water Development Kondwani Nankhumwa yesterday said the LWB-organised conference to court potential financiers was timely in a bid to…

Agriculture sector receives K3.2bn boost from Norway

The Norwegian Government on Wednesday provided additional $4.4 million (about K3.2 billion) towards the Malawi Second Agriculture Sector Wide Approach Support Project (ASWAp SP II). The money has been provided by the Norwegian Ministry of Foreign Affairs through the World Bank  Multi-Donor Trust Fund. Norwegian Ambassador Steinar Hagen said the money will help to strengthen…

Power interconnection project gets K16bn EU boost

The European Union (EU) has provided 20 million euros (about K16 billion) grant for the implementation of the Malawi-Mozambique Power Interconnection Project to connect the national grid to the Southern Africa Power Pool (Sapp). The commitment follows Friday’s signing of the implementation agreement between the Electricity Supply Corporation of Malawi (Escom) and KfW of Germany,…

LWB seeks K340bn to avert water crisis

Faced with a daunting task to supply water to a growing population, Lilongwe Water Board (LWB) says it needs about K340 billion ($460 million) to implement water projects to achieve sustainable water production and supply. Briefing journalists last week, LWB chief executive officer Engineer Alfonso Chikuni said that in its search for the resources, the…

UK for collective fight against cyber risks

Britain has stressed the need for collective action against cyber technology risks, saying least developed countries such as Malawi are vulnerable due to low capacity and financial muscle to deal with associated crimes. Speaking during the opening of a Cyber Security Capacity Building Workshop ahead of the launch of Malawi’s National Cyber Risk Assessment Project…

Muslims urged to uphold peace, love

Muslims have been challenged to uphold peace and love in their practice of faith to ensure coexistence with all humankind and religions. The call was made yesterday during celebrations of Prophet Muhammad’s birthday which was spiced by a Ziyarah Parade that brought together hundreds of Muslims, mostly in Blantyre and Lilongwe cities. During the Lilongwe…

Maiic set to roll out

The long-awaited Malawi Agricultural and Industrial Investment Corporation (Maiic), a development finance institution under a public private partnership (PPP) arrangement, is set to roll out, government officials have confirmed. Minister of Finance, Economic Planning and Development Joseph Mwanamvekha and Reserve Bank of Malawi (RBM) Governor Dalitso Kabambe confirmed the development. Maiic has since hired Taz…

Germany commits K37bn development support

+Germany has committed 45 million euros (about K37.3 billion) grant to Malawi for implementation of various development programmes geared towards poverty alleviation and social-economic development. During a cocktail reception on Wednesday evening marking the end of two-day negotiations between Germany and Malawi in Lilongwe, Secretary to the Treasury Cliff Chiunda and head of the German…

RBM firm on growth

Reserve Bank of Malawi (RBM) says it is positive the economy will still grow by the projected five percent despite some disruption of businesses due to demonstrations and prolonged power blackouts. RBM Governor Dalitso Kabambe on Wednesday banked his projections on the stable inflation rate, exchange rate and global fuel prices. He said: “Our projection…

Reserve bank maintains policy rate

The Reserve Bank of Malawi (RBM) on Wednesday maintained the policy rate at 13.5 percent, a move Consumers Association of Malawi (Cama) says will calm the market. RBM Governor Dalitso Kabambe made the announcement in Lilongwe yesterday after a two-day meeting of the Monetary Policy Committee (MPC). He said all measured fundamentals show the country’s…

Universal ICT access project rolls out next year

The Universal Access to Information and Communications Technology (ICT) Services Project is expected to roll out next year and will extend to the country’s rural areas. The development follows the setting up at Malawi Communications Regulatory Authority (Macra) of Universal Access Fund, which collects money from ICT players for the project’s implementation. Macra officials announced…

Germany warns Malawi on political instability

Germany has asked Malawi Government to jointly work with the opposition and other stakeholders to ensure peace and tranquility for continued sustainable economic development and well-being of citizens. Alois Schneider, German head of division for southern Africa in the Ministry of Economic Cooperation and Development (BMZ), made the appeal yesterday at Capital Hill in Lilongwe…

Farmers’ lack of knowledge worries Mzuzu ADD

Mzuzu Agriculture Development Division (ADD) crops officer Ulemu Tembo has said lack of knowledge among Irish potato farmers in Mzimba District is worrisome.  Speaking during a field day organised by International Potato Centre (CIP) in Mzimba on Tuesday, she said the situation was a health risk, especially where chemicals were used as post harvest storage…

Fish output decline pushes up prices

The Department of Fisheries says beach fish prices are steadily rising due to high demand for fish amid low supply and rising production cost. In an interview on Tuesday, the department’s director Friday Njaya confirmed the declining fish stocks, especially for chambo. He said increasing production of usipa and other smaller species has also reduced…

Ministry taken to task on mining

The Natural Resources and Climate Change Committee of Parliament has warned Ministry of Natural Resources, Energy and Mining of unspecified action if it fails to police illegal mining and trade of gemstones and other minerals. The committee’s chairperson Werani Chilenga, in an interview on Monday, expressed dismay that despite having a strong Mines and Mineral…

Government challenged On public debt

Centre for Social Concern (CfSC) has challenged  government to improve on low absorption capacity of projects implemented with loans. CfSC director James Ngahy said the Malawi Indebtedness study highlights concerns on the rapid build-up of public debt with little results on the ground are some resources as spent on consumption while those for development do…