Manual operations in the postal service have been singled out as one of the reason why the Malawi Posts Corporation (MPC) is failing to improved services to its customers especially those in the rural areas, Business News has learnt. According to Kenyan-based consultant who was in the country, Thomas Senanji from E-post Strategy Consultant,…
Leasing and Finance Company of Malawi (LFC) has bailed out the Malawi Paralympics Committee (MPC) with a K250 000 donation for this Sunday’s national finals of Presidential Paralympics Athletics Championships at Kamuzu Stadium. MPC president James Chiutsi said they had a deficit, especially on prizes. He thanked the lending and investment institution, which is…
Kamuzu Stadium in Blantyre will on Saturday be filled with fun as physically challenged athletes in the Southern Region converge and fight for medals in the 2015 Presidential Initiative for Sports (PIS) Paralympics. According to Malawi Paralympics Committee (MPC) head coach George Luhanga, this will be the second qualifier for the national finals after the…
There has been a shake-up at Malawi Communications Regulatory Authority (Macra) and Malawi Posts Corporation (MPC) after government on Wednesday redeployed Macra director general Andrew Kumbatira back to MPC. On the other hand, MPC postmaster general Godfrey Itaye is now heading to Macra as director general. Ironically, Itaye replaced Kumbatira at MPC last year…
The monetary policy decision by the Reserve Bank of Malawi (RBM) to revise downwards the Liquidity Reserve Requirement (LRR) has released K40.34 billion into the banking system, the central bank statistics have revealed. LRR is a fraction of customer deposits and notes that each commercial bank must hold as reserves and is stored physically in…
The Reserve Bank of Malawi (RBM) has cut the Liquidity Reserve Requirement (LRR) ratio to 7.5 percent from 15.5 percent to compel banks to reduce the difference between prime lending and policy rates. RBM made the decision to reduce LRR ratio on Tuesday at its third Monetary Policy Committee (MPC) meeting this year in Lilongwe…
Malawi Congress Party (MPC) spokesperson on finance Alexander Dzonzi has challenged government to do more on taxation issues, pressing for an overhaul of all tax policies. Dzonzi, speaking at a recent high level meeting on development effectiveness in Lilongwe, said as it stands now, the tax systems is too ‘labour intensive’ and is burdening the…
Malawians will soon start accessing some government services such as application and collection of passports, registration of business names, application of drivers’ licenses, police reports and processing of land deeds through post offices. The development is part of the public service reform agenda which will start with the refurbishment of Lilongwe and Mangochi post offices.…
The emergence of information and communication technology (ICT) has not affected post office services due to diversification, Malawi Postal Corporation (MPC) postmaster general Godfrey Itaye has said. Postal services business has gone down as most people, who used to communicate through letters, are now using cell phones or Internet. But Itaye said he does not…
Leader of opposition Lazarus Chakwera has asked government to prosecute individuals who looted public resources in the previous Democratic Progressive Party (DPP) administration while continuing with investigations into the 2012/13 Cashgate. In a scathing response to President Peter Mutharika’s State of the Nation Address delivered on Tuesday which he described as a wish-list, Chakwera, who…
Commercial banks borrowed K27.5 billion on the interbank market—from the Reserve Bank of Malawi (RBM) and other commercial banks—according to available data, signalling liquidity squeeze in the money market. The RBM also sold foreign exchange amounting K583 million on May 2 to the market apparently to support importation of the country’s critical requirements. In…