Inflation to average 29 percent in 2023

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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 (MPC) statement published on Friday. The MPC also raised […]

Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi

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5000 Malawi Kwacha banknote named best new banknote of 2022

The 5000 Malawi Kwacha banknote has been named the best new banknote of the year 2022 in Europe, the Middle East and Africa for its design, technical sophistication and security features. Reserve Bank of Malawi (RBM) Wilson Banda received the award at a ceremony in Lilongwe today held together with

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Source: Malawi 24 | Malawi news

Zimbabwe: RBZ Auction Sustains Stability, Targets 55 Percent Inflation Reduction By July

[New Zimbabwe] Reserve Bank of Zimbabwe (RBZ) foreign exchange auction system has managed to sustain stability nearly a year since its introduction amid targets to achieve a 55% yearly inflation reduction by July.

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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

Public debt up to K5.5 trillion - The Times Group Malawi

Government’s insatiable appetite for borrowing persists, evidenced by a surge in total public debt stock by 32 percent to K5.5 trillion as at mid this year, representing 59 percent of gross domestic product (GDP). An Annual Public Debt Report from the Ministry of Finance’s Debt and Aid Management

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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi

Kenya: Mombasa Hotels Take Up Measures to Survive Pandemic

Nairobi — Mombasa based Reef Hotel has now moved to offer free accommodation in the facility till end of June in order to survive the coronavirus

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Source: allAfrica.com

Rising Bad Loans, Slowing Credit Demand Create Major Challenges for India’s Banking Sector

Mounting nonperforming assets and a slowdown in credit demand are contributing to a major slump in India's banking sector that analysts say is not likely ...

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High liquidity seen holding policy rate

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Senate confirms seven members of CBN’s Monetary Policy Committee

President Muhammadu Buhari had forwarded the names to the nominees to the Senate for confirmation on February 23. The post Senate confirms seven members of CBN’s Monetary Policy Committee appeared first on Premium Times Nigeria.

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Source: Premium Times - Nigeria leading newspaper for news, investigations

Nigeria: CBN Retains Benchmark Interest Rate

[Premium Times] The move is expected to allow further economic growth, despite four-year high inflation, after the country exited recession last year.

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Source: allAfrica.com

South Africa: Repo Rate Unchanged At 3.5 Percent

[SAnews.gov.za] The Monetary Policy Committee has decided against altering the repo rate, deciding to keep it unchanged at 3.5% per annum, said Reserve Bank Governor Lesetja Kganyago.

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Source: allAfrica.com

Bus plunges into Kenya river - The Times Group Malawi

At least 23 people have drowned after a bus travelling to a wedding plunged into a flooded river in Kenya. Video footage shows the bus was swept away after the driver tried to cross fast-flowing water over a bridge in the Enziu River, about 200 kilometres (125 miles) east of the Kenyan

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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi

Rwanda Exports Grow By 58.8% in Third Quarter

[New Times] Rwanda's exports grew by 58.8 per cent in the third quarter of 2021 driven by factors including rising commodity prices, good performance of domestic manufacturing activities as well as the blossoming horticulture, as outlined by Central Bank.

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Councillor Lipikwe facilitates career guide talk for Limbe Primary School learners

Limbe Central Ward Councillor, Gerald Lipikwe on Monday facilitated an inspirational career guide talk for Limbe Primary School learners in which he involved two influential alumni — an senior engineer and a chartered accountant. The two inspirational speakers are high profile professionals

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South Africa: What's Happening In South African News - March 23, 2022

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Kenya: Political Doubts Top Concern for Firms as Worries Over Increased Taxation Decline

[Capital FM] Nairobi -- Political uncertainties remain a major concern for many Chief Executive Officers (CEOs) even as worry over the business environment, increased taxation, and economic environment decline over time.

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Source: allAfrica.com

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

Nigeria's Economy Sees Biggest Decline in 10 Years

[Premium Times] Nigeria's economy contracted by 6.10 per cent in the second quarter of 2020, a report by the National Bureau of Statistics (NBS) said on Monday.

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Source: allAfrica.com

Tembenu, DPP fight rages - The Times Group Malawi

By Serah Chilora Former minister of Justice and Constitutional Affairs Samuel Tembenu, who is also a member of Democratic Progressive Party (DPP) National Governing Council (NGC), has been removed from the party’s NGC WhatsApp group following his rebuking remarks after the party performed badly

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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi

Manufacturing to grow by 1%

The country’s manufacturing sector is expected to grow by one percent in 2023 down from the estimated 1.9 percent last year, the Reserve Bank of Malawi (RBM) has said. The relatively subdued growth comes at a time Malawi has embarked on an ambitious journey of becoming a lower middle income economy

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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi

Uganda's Multi-Pronged Approach to Revive Economy

[Independent (Kampala)] Uganda's economy has been struggling for some time now since the outbreak of coronavirus but the government and the private sector are coming up with numerous options to reverse the trend.

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Fuel inflation hits 12-month high

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Ndanga’s three coaccused still at large - The Times Group Malawi

By Alick Ponje Three men accused of having a hand in the brutal killing of three members of one family in Lilongwe but jumped court bail are still at large, The Sunday Times has established. Kasimu Hassan, Mpheya Peter Makina and George Mang’anda, as a result, had their respective bails revoked

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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi

‘Endless Ifmis headache is man-made, not technical’ - The Times Group Malawi

Amid reports of hurdles in government’s financial transactions, including salary delays, often attributed to technical hitches in Integrated Financial Management System (Ifmis), analysts have dismissed continued claims that it is the system that is the problem. Rather, they say, it is people behind

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Source: The Times Group Malawi - Breaking news, politics, sports, entertainment and more - The Times Group Malawi

Nigeria: Exchange Rate, External Pressures May Force Monetary Policy Tightening - Analysts

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Source: allAfrica.com

Ghana: BoG Secures $1bn to Boost Dollar Liquidity ... Maintains Policy Rate At 14.5 Per Cent

The Governor of the BoG, Dr Ernest Addison, who said this in Accra yesterday during the 94th Monetary Policy Committee (MPC) news conference to announce a new policy rate, said the bank had concluded negotiations with the U.S Federal Reserve to that

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Source: allAfrica.com

South Africa: Looting Could Cut GDP Growth By 0.7 Percent

[Daily Maverick] Shops in malls and elsewhere have been stripped and gutted. Fuel refineries have closed. Economists are trying to tot up the damage, likely to be huge.

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Reserve Bank of Malawi introduces K5000 banknote

The Reserve Bank of Malawi has introduced a 5000 Malawi Kwacha Banknote. The bank has also introduced an upgraded 2000 Kwacha Banknote. This was disclosed at a media briefing which took place in Lilongwe this afternoon. RBM Governor Dr. Wilson Banda said the new banknote will be released on

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Source: Malawi 24 | Malawi news

Zimbabwe: Inefficient Foreign Exchange Market Costing Zim Billions

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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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