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Govt yet to cut gate fees - The Times Group Malawi
By Matthews Kasanda  Motorists continue paying old fees at Chingeni Toll Plaza despite the government’s announcement last week that the fees were reduced. Information Minister Gospel Kazako announced that fees had been reduced immediately after engaging lead organiser of recent mass protests, Bon
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Malawi has no Forex: RBM starts rationing distribution
The Reserve Bank of Malawi (RBM) says the bank is rationing distribution of forex to sectors in the country amid the scarcity of forex which has affected importation of commodities such as fuel. Deputy Governor  of Reverse Bank of Malawi,  William Matambo, has told the local media that the bank is
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Source: Malawi 24 | Malawi news
Business Time on Malawi’s prospects for an ECF program of IMF– 29 August 2023
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Dalitso Kabambe arrested | Malawi 24 - Malawi news
Police have arrested Former Reserve Bank of Malawi Governor Dalitso Kabambe. Kabambe who is a member of the opposition Democratic Progressive Party (DPP) is at Lumbadzi Police station. 'The Malawi Police Service has arrested Dr Dalitso Kabambe, Former Reserve Bank of Malawi Governor, for issues
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Source: Malawi 24 | Malawi news
Mulli seeks K2.1 billion in damages from audit firm over RBM report | Malawi 24 - Malawi news
Mulli Brothers Limited (MBL) is seeking K2.1 billion compensation from Deloitte & Touche Services Limited, saying the audit firm defamed the company in a forensic audit report for the Reserve Bank of Malawi (RBM). In the report released this year, Mulli Brothers was mentioned as one of the
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Source: Malawi 24 | Malawi news
Higher Education Woes - The Times Group Malawi
By Alick Ponje  Early next month, students at the Malawi University of Business and Applied Sciences (Mubas), who failed in one or more modules during this year’s examinations, will sit for supplementary ones. Eunice Tambula from the high-density Manje Township in Blantyre is in the dark regarding
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Public loans cost more
The Reserve Bank of Malawi (RBM)’s recent decision to raise the policy rate—the rate which commercial banks use when borrowing from the central bank as lender of last resort—continue to pile pressure as it means an elevation on the domestic public debt interest. According to a May Monthly Economic
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
The law and the economy: the case of MPs’ numbers - The Times Group Malawi
By Sellina Tembula The law is the law; this is a trite axiom often employed by advocates of societies strictly sticking to what was agreed upon by Members of Parliament (MPs) who make the dominant rules. Of course, there are always rooms for ‘softly bending the rules’ in line which various demands
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Times Exclusive featuring Dr. Dalitso Kabambe – 2 September 2023
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Kabambe spends second night in cooler | Malawi 24 - Malawi news
Former Reserve Bank of Malawi Governor Dalitso Kabambe will spend a second night in the cooler following his arrest on Monday. Kabambe, who is also a member of the opposition Democratic Progressive Party (DPP), appeared in court this afternoon where he was charged with two counts of abuse of
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Source: Malawi 24 | Malawi news
Reserve Bank of Malawi sees light in Extended Credit Facility negotiations
The Reserve Bank of Malawi (RBM) has said Malawi has made remarkable progress in putting its house in order ahead of the second review of the Staff Monitored Programme with Executive Board Involvement (PMB) by the International Monetary Fund (IMF). A successful completion of the PMB would see
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Reserve Bank of Malawi warns on banknote rejection
By Mcloyd Chilangiza: The Reserve Bank of Malawi (RBM) has warned small-scale business operators against rejection of any banknote that is used as legal tender in the country. This follows spot checks which showed that some small-scale business operators in Lilongwe, Blantyre and Dowa districts are
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Government records K20 billion surplus in July
A monthly economic review published by the Reserve Bank of Malawi (RBM) has shown that Central Government’s total revenues hit K246.7 billion against expenditures at K226 billion in July. This represents a surplus of K20.7 billion recorded in the month. This was an improvement from deficits of
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Trade deficit widens in second quarter
Trade deficit—a negative difference between exports and imports—further widened in the second quarter of 2023. Figures from the Reserve Bank of Malawi (RBM) show that during the quarter, merchandise trade was estimated at a deficit of $272.0 million from minus $165.5 million during the preceding
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Bon Kalindo Charged - The Times Group Malawi
By Khumbo Kaliwo Politician-cum-comedian Bon Kalindo has been charged with publication of false news likely to cause fear and alarm to the public. He appeared before the Senior Resident Magistrate Court in Lilongwe yesterday. According to State Prosecutor Cecilia Zangazanga, on November
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Economists tell govt to fast-track growth - The Times Group Malawi
By Taonga Sabola The Economics Association of Malawi (Ecama) has said Malawi’s economy needs to grow at the rate of eight percent per annum if the country is to double its gross domestic product (GDP) per capita by 2030, as stipulated in the Malawi Implementation Plan (MIP-1) of 2063. Ecama
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
International Monetary Fund Extended Credit Facility offers glimmer of hope
Expectations are high that the Executive Board of the International Monetary Fund (IMF) will approve the drafted Extended Credit Facility (ECF) programme for Malawi next month. This follows an IMF Blog authored by its Managing Director, Kristalina Georgieva, which indicates that the Group of Twenty
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Reserve Bank of Malawi benefits $265.3 million from IMF
By Wezzie Gausi: The Reserve Bank of Malawi (RBM) has said since Malawi joined the International Monetary Fund (IMF) in 1965, Special Drawing Rights (SDRs) allocated to the country have amounted to SDR199.4 million, which is equivalent to $265.3 million (about K266 billion). An SDR allocation is
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Flames foreign-based players start jetting in - The Times Group Malawi
By Williams Gondwa Five foreign-based Malawi National Football Team players have joined the senior team’s camp ahead of the Africa Cup of Nations finals slated for Yaoundé, Cameroon next month. South Africa based trio of striker Khuda Muyaba, midfielder Mike Mkwate and defender Chembezi Denis
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Over K12 billion vanishes at Malawi Reserve Bank
A Reserve Bank of Malawi (RBM) fund has lost over K12 billion through acts of gross negligence and abuse of office, a special audit report has revealed. The money was lost at Export Development Fund (EDF), a Reserve Bank of Malawi subsidiary established in 2012 as a private development finance
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Source: Malawi 24 | Malawi news
Former Reserve Bank of Malawi chief chides current policy rate
Former Reserve Bank of Malawi (RBM) governor Dalitso Kabambe has described the country’s 24 percent policy rate as cosmetic and that it does not tally with what is on the ground. Kabambe argues with such a rate, the economy risks collapsing. He was speaking in a Times Exclusive International with
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Sosten Gwengwe’s fingers crossed on Extended Credit Facility
Minister of finance Sosten Gwengwe is keeping his fingers crossed over a possible Extended Credit Facility (ECF) programme with the International Monetary Fund (IMF), about 36 months after cancellation of the previous programme in September 2020. But he echoed a sentiment by the Reserve Bank of
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
RBM records K187 billion loss
During the year that ended on 31 December 2022, Reserve Bank of Malawi made a comprehensive loss of K187.5 billion. This is according to consolidated and separate annual financial statements posted on the bank's website which addresses the performance and financial of the bank and its subsidiary
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Source: Malawi 24 | Malawi news
Inflation to average 29 percent in 2023
The Reserve Bank of Malawi (RBM) has revised upwards its annual average inflation target to 29.5 percent, the second time since Minister of Finance Sosten Gwengwe presented the 2023-24 national budget to Parliament in March. The estimate is contained in the central bank’s Monetary Policy Committee
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Centenary Bank supports Fimda
By Llywellenie Mpasa Centenary Bank Limited has contributed K2 million towards hosting of this year’s Financial Market Dealers Association (Fimda) lakeshore conference. The three-day conference, scheduled to start in October in Mangochi, will bring together representatives from various financial
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Malawi gets one hand on IMF Extended Credit Facility
Malawi Thursday got one hand on the highly anticipated four-year $174 million Extended Credit Facility (ECF) programme with the International Monetary Fund (IMF) after reaching a staff level agreement with the IMF Mission that was in the country since September 12. Following the agreement, the
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Budget targets missed
Finance Minister Sosten Gwengwe must have one of the toughest jobs when revisiting the 2023-24 national budget, as almost all parameters have gone rouge, as there are glaring mismatches between assumptions anchoring the financial plan and reality on ground. Justin Mkweu writes. In the 2023-24
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Private sector credit hits K1 trillion
Credit to the private sector from financial institutions maintained an upward trajectory in June, hitting K1.1 trillion, figures from the Reserve Bank of Malawi (RBM) show. The value grew by K100 billion within a month. In its June 2023 Monthly Economic Review issued on Wednesday, RBM says annual
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Court rebuffs Mpinganjira on bail application - The Times Group Malawi
By Jameson Chauluka High Court Judge John Chirwa has dismissed with costs Thomson Mpinganjira’s application to be released on bail pending appeal. Mpinganjira, who was not physically present in court yesterday, is serving a nine-year jail term after he was convicted of attempting to bribe judges
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
Bank loans get more expensive
Consumers accessing loans from financial service institutions will continue to dig deeper into their pockets to service their loans as commercial banks continue to adjust upwards their reference rate—a benchmark for other rates including interest rate. According to communication from the banks
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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
More from The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi
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