‘Malawi needs more investment in power sector’

United States Ambassador to Malawi, Virginia Palmer, has said Malawi needs heavy investment in the energy sector to address the problem of power woes that have crippled the economy. Palmer was commenting on the impact of the $350.7 million five-year Millennium Challenge Compact (MCC), which is being funded by her government, on Malawi’s energy sector. […]

Energy sector gets $2 million boost

Millennium Challenge Account-Malawi (MCA-Malawi) has commissioned machinery worth $2 million to the Energy Generation Company (Egenco) for weed harvesting and clearing of debris in the Shire River. The machinery— which includes two weed harvesters, shore conveyers and tipper trucks—will help to reduce blockages at the Nkula Hydropower Generation Plant. The amount is a component of […]

$425 million students’ accommodation project commences June

The first lot of construction works of the students’ accommodation in the country’s five public universities by one of the two successful bidders of the project, M and M Consortium, is expected to commence in June this year. This follows the signing of an agreement between the firm, the universities, the government and the Public […]

Reserve Bank of Malawi worried over externalisation

The Reserve Bank of Malawi (RBM) has expressed concern with the rise in externalisation of insurance business and premiums. RBM Director of Pension and Insurance Supervision, Chimwemwe Kachingwe, made the observation in Blantyre this week during the rebranding of Malawi Reinsurance Company to Emeritus Reinsurance Company. Kachingwe said that the regulator wants all insurance risks […]

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