Tags: MCCCI

Goodall dares private sector

  Minister of Finance, Economic Planning and Development Goodall Gondwe has challenged the private sector to take a leading role in bringing positive change that would transform the country’s ailing economy. Gondwe, who on Tuesday graced the launch of Malawi Business Climate Survey Report 2015, a flagship publication of Malawi Confederation of Chambers of Commerce…

MCCCI report paints gloomy year ahead

  Malawi Confederation of Chambers of Commerce and Industry (MCCCI) says businesses should brace for weaker and inconsistent implementation of policy interventions that affect the private sector due to financial gaps in the 2015/16 National Budget. Recently, Malawi registered an improvement on the World Bank Doing Business Report (2016) by jumping three steps to 141…

Adopt modern technology, govt urges agro players

  Minister of Agriculture, Irrigation and Water Development Allan Chiyembekeza has urged players in the agricultural sector to be innovative and adapt to new technologies. The minister made the call on Thursday at Chichiri Trade Fair Grounds in Blantyre during the official opening of the 12th National Agricultural Fair under the theme Accelerating Agriculture for…

Escom to add 34MW to power grid by 2017

Electricity Supply Corporation of Malawi (Escom) has said it will add 34 megawatts (MW) to its power grid by 2017 following rehabilitation works at Nkula A and Tedzani IV. Escom system operations and power trading manager Patrick Kadewere said this on Monday in Blantyre at an industrial stakeholders meeting the power supplier in collaboration with…

Escom incapacitated, more blackouts ahead

Power utility Electricity Supply Corporation of Malawi (Escom) says it is faced with insufficient generation capacity and has warned consumers to brace for frequent and prolonged load shedding “within the foreseeable future”. However, Escom’s announcement has irked the business community with Malawi Confederation of Chambers of Commerce and Industry (MCCCI) saying the planned load shedding…

Chamber Praises RBM For Slashing LRR

The Malawi Confederation of Chambers of Commerce and Industry (MCCCI) says it welcomes the recent move by the Reserve Bank of Malawi (RBM) to slash the Liquidity Reserve Requirement (LRR), saying the action will help reduce the cost of borrowing by private sector players. Following the reduction of LRR from 15.5 percent to 7.5 percent…

Malawi rakes in $57m in agoa

Malawi is not a mere spectator in the African Growth and Opportunity Act (Agoa) programme, after shipping to the United States (US) $57.6 million (K25.6 billion) worth of goods in 2014 compared to previous years’ $47 million (K21.1 billion), Business News has learnt. Although Malawi shipped in more textiles, the country failed to be among…

GOVT BANKS HOPE ON PLANNING COMMISSION

Secretary to the Treasury Ronald Mangani has said the National Planning Commission (NPC), which government is currently establishing will help to formulate and review policies and strategic plans for national development and also recommend allocation of resources. Once created, NPC will be an independent body for strategic thinking on matters of national development, established by…

MCCCI ACCUSES GOVT OF POLICY INCONSISTENCIES

Private sector lobby group Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has decried policy inconsistencies, accusing government of implementing conflicting policies that are holding back the country’s economic growth and development. MCCCI chief executive officer (CEO) Chancellor Kaferapanjira said the inconsistencies are sending wrong signals to private sector players who are struggling to…

AGRICULTURE SECTOR BUDGET QUESTIONED

Some non-State actors have faulted allocations in recent annual budgets, arguing they are not reflective of Malawi’s long-term development agenda such as the discarded Vision 2020. The expert, however, say the 2015/16 fiscal plan, just like other recently implemented annual budgets, only focuses or concentrates on short-term special programmes such as the Farm Input Subsidy…

APM spells out plan for economic healing

President Peter Mutharika says his government hopes to urgently heal Malawi’s economic woes by reducing public expenditure, guaranteeing the independence of the Reserve Bank of Malawi, strengthening public financial management systems and ensuring a restoration of donor confidence. Mutharika unveiled his four-point economic governance plan when he presided over the launch of Malawi’s Investments Compendium…

MCCCI blames kwacha fall on panic buying

Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has blamed the recent sharp fall of the local currency on panic, saying foreign exchange is available to private sector players. MCCCI chief executive officer Chancellor Kaferapanjira, in an email interview, urged government to “talk and not mute” on important issues to create confidence on the…

Puzzlement as govt suspends oil exploration

When government announced the suspension of oil and gas exploration activities on Wednesday, the reaction from some stakeholders was that of puzzlement. Business grouping Malawi Confederation of Chambers of Commerce and Industry (MCCCI) said yesterday it immediately called the Ministry of Natural Resources, Energy and Mining to understand what prompted such a drastic move. On…

MRA misses october target by K4 billion

Malawi Revenue Authority (MRA) missed the October K45 billion target by K3.9 billion, sending fears that government may struggle to finance this year’s K737 billion zero-aid budget. Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has said this is not surprising because businesses are struggling due to the worsening economic situation. The MRA October…

Malawi govt to pay K50bn of arrears in 2014/15 fiscal year

Malawi Government has undertaken to pay K50 billion (about $131m) in the 2014/15 fiscal year as part of the K158 billion (about $415m) unpaid bills or arrears it owes the private sector, Minister of Finance, Economic Planning and Development Goodal Gondwe has said. Presenting the 2014/15 budget amounting to K742.8 billion (about $1.9bn) at Parliament…