The growth in the electric car market, which could result in 100 million or more vehicles on the roads globally by 2035, is likely to boost mining activities, an expert, Grain Malunga, has said. Malunga’s sentiments have been corroborated by media reports. Neodymium, a rare earth element, nickel and cobalt are increasingly on demand as […]
Ministry of Agriculture, Irrigation and Water Development has confirmed that a bill meant to regulate the tobacco industry will be tabled in the next sitting of Parliament. Speaking on the sidelines of the opening of the tobacco marketing season at Limbe Auction Floors, both Minister of Agriculture Joseph Mwanamvekha and Tobacco Association of Malawi (Tama) […]
Hopes are high over this year’s tobacco market after the country realised $5.7 million dollars from sales of the green gold in the first week. AHL Group has indicated that the earnings were from 4.4 million kilogrammes of tobacco sold through the Lilongwe and Chinkhoma Auction floors at an average price of $1.30. Mark Ndipita, […]
Prices of roofing sheets are expected to go up following the government’s decision not to renew the industrial rebate licence on roofing sheets. Before withdrawal of the license, manufacturers were enjoying duty free status on importation of raw materials for roofing materials, which, in turn, made prices of roofing sheets to be softer. Some players […]
Prices of roofing sheets are expected to go up following the government’s decision not to renew the industrial rebate licence on roofing sheets. Before withdrawal of the license, manufacturers were enjoying duty free status on importation of raw materials for roofing materials, which, in turn, made prices of roofing sheets to be softer. Some players […]
FDH Bank on Thursday unveiled a new product called Smart Pay which will enable consumers pay for goods and services using their mobile phones. FDH Head of Business and Personal Banking, Kawawa Msapato, said consumers will no longer have to carry cash, wallets or ATM cards when going shopping. “The future has arrived. Smart and […]
Some local manufacturers have bemoaned trade barriers existing within the Common Market for Eastern and Southern Africa (Comesa) and Southern Africa Development Community. It has emerged that some local manufacturers, especially in refined cooking oil and laundry soap sectors, are failing to fully utilise the duty free status accorded to goods traded within Comesa and […]
Secretary to the Treasury, Ben Botolo, has called on the private sector and Malawians to focus on commercial farming and intensive irrigation so as to grow the country’s economy. Botolo said, following the weather shocks experienced in the country recently, Malawi has experienced food shortages, thereby relying on donor partners and well wishers for assistance. […]
The Institute of Chartered Accountants in Malawi (Icam) has asked Treasury to consider increasing the tax free band for monthly income to K50,000 in the next financial budget. Currently, the tax free band is at K30,000. Icam made the call during the first round of pre-budget consultations organised by the Ministry of Finance. In his […]
The Ministry of Finance has said the country’s 2018/19 financial budget will be pegged at K1 trillion. The budget will be about 23 percent lower or K300 billion below the 2017/18 financial plan. Secretary to Treasury, Ben Botolo, revealed this in Blantyre, at the start of the 2018/19 prebudget consultation meetings. Ironically, the reduced budget […]
The Electricity Generation Company (Egenco) is expected to add 20 megawatts (MW) of power to the national grid by the end of April following the arrival of 10 diesel generators. The generators, each producing 2MW, will be planted at Mapanga in Blantyre. Egenco Senior Communications Officer, Moses Gwaza, said the generators are Egenco assets and […]
The Tanzanian Ports Authority (TPA) has urged Malawian businesses to make full use of the two vessels that ply on Lake Malawi between Mbeya and Monkey Bay to boost their enterprises. The two vessels, MV Ruvuma and MV Njombe, have a capacity of 1,000 metric tonnes each. TPA acting Deputy Director General (Services), Francisca Muindi, […]
The Reserve Bank of Malawi (RBM) on Tuesday launched this year ’s Global Money Week with a call to secondary school students to embrace a saving culture. Speaking at Thyolo Secondary School during the launch, RBM Chief Examiner Consumer Protection and Financial Literacy, Madalitso Chamba, said students need to learn how to save while they […]
Reconciliation of government’s accounts will be done on daily basis as one way of protecting public resources from plunder by individuals and organisations. This was said by President Peter Mutharika during the launch of the National security policy in Lilongwe. The system also compliments the implementation of the Reserve Bank of Malawi (RBM) 2018 strategic […]
The Ministry of Industry, Trade and Tourism is Wednesday expected to launch an investment guide (iGuide) in a bid to create a conducive business environment for the private sector. The ministry partnered the Malawi Investment and Trade Centre (Mitc), the United Nations Economic Commission for Africa (Uneca) and the United Nations Conference on Trade and […]
The Reserve Bank of Malawi (RBM), an agent of the Malawi Government, has said all benchmark issuances will be listed on the Malawi Stock Exchange (MSE). This was revealed on Monday when the government listed a K5 billion two-year Treasury Note on the market. RBM Manager for Market Developments, Franklyn Khoza, said the government last […]
Cross border traders that ply their trade between Malawi and South Africa are facing challenges to access the South African Rand, as it has become scarce on the market. Random interviews with business persons revealed that the rand is not readily available as has been the case in previous months. The black market is also […]
The Ministry of Energy has said the Malawi Bureau of Standards (MBS) laboratory under construction in Blantyre is expected to test solar products, among other products, for quality adherence. The process is meant to address the influx of sub-standard solar products that have hit the local market. Responding to a questionnaire, Minister of Energy, Aggrey […]
Heavy rains experienced in some parts of the country have led to an improvement in power generation. Both the Electricity Generation Company (Egenco) and Electricity Supply Corporation of Malawi (Escom) have confirmed the development. Egenco publicist, Moses Gwaza, said, following heavy rains in the Upper Shire, power generation improved from 200 megawatts (MW) to 260 […]
The government says it is not worried over the decision by Ethiopian Airlines to partner Zambia, despite having another partnership with Malawi in Malawi Airlines. Recently, Ethiopian Airlines signed a joint venture deal with the Zambian government which will see the formation of a new airline in which Zambia will be the majority shareholder with […]