Tags: MPC

Manual operations affects postal services

  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 bails out Malawi Paralympics

  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 hosts South Paralympics

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…

Bank Deposits At RBM Lowered

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…

POST OFFICES SET FOR REFORMS

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.…

Probe DPP graft too—Chakwera

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 borrow K27.5 billion

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…