Saturday 21 October 2017
(Malawi 24 09/04/17)
Malawi’s power outages are really a thorn in the fresh. Malawians are yet again experiencing electricity outages just like last year. The Electricity Supply Corporation of Malawi (Escom) last month indicated that the dwindling water levels in Lake Malawi remain the main reason behind the problem. But power outages are back. On Thursday in Blantyre for example, there were no lights for over five hours in locations like Chitawira, Nkolokosa, Kanjedza and Naperi just to mention a few. Businesspersons operating in these locations told Malawi24 recently of how the situation has left a bad mark on their businesses. They said that in a day for example, they are only having power for less than three hours something they feel is...
(The Maravi Post 09/04/17)
The Malawi Government through Ministry of Finance and International Monetary Fund (IMF) this week agreed on the implementation of the Extended Credit Facility (ECF) priorities in the next program. The ECF Malawi program agreements focus on increasing growth and reducing poverty, to consolidate the hard-won macroeconomic stability. The agreement took centre-stage during a two-day conference held in the capital Lilongwe between the two parties, which took stock of the objectives and performance of the ECF, and the lessons for future engagement. The development came after a year the IMF’s Executive Board in June 2016 approved an augmentation of access under the arrangement to help Malawi address its worst humanitarian crisis after two consecutive years of drought That is apart from...
(The Maravi Post 09/04/17)
The country’s final consolidated figures for this year’s tobacco earnings have been pegged at US$212 million, it has been learnt. This is the summing gross collection statistics released by regulatory body, Tobacco Control Commission (TCC) saying the earnings surpass last year’s by 23 percent. In 2016, a total of 194 million kilograms of tobacco was sold at an average of US$1.42 per kg in which the country realized US275 million. This was a drop from US$362 million of 168 million kg of tobacco sold in 2015 whilst this year 107 million kilograms went through the auction. This represents a 45 percent increase in terms of volumes sold. According TCC the average price for this year was US$1.99 which was better...
(Malawi 24 09/04/17)
With drug theft showing no signs of abating, the Ministry of Health has revealed that over the past year drugs worth K1.5 billion were stolen in Malawi. The ministry had a drug budget of K17.2 billion in the 2016/17 financial year but various people including ministry employees stole drugs worth K1.5 billion Police managed to arrest 125 people for stealing drugs last year and 30 have since been convicted while 64 are still answering their charges. Appearing before Budget and Finance Committee of Parliament last week, Ministry of Health Principal Secretary Dr Dan Namarika said it will be difficult to end drug theft. He however said his ministry is reviewing the Pharmacy, Medicines and Poisons Act to introduce stiff punishments...
(The Maravi Post 09/04/17)
The ruling Democratic Progressive Party (DPP) this week apologized to the Civil Society Organizations (CSOs) over the ‘Zachamba’ (nonsense) remarks made by its Secretary General (SG) Greselder Jeffrey wa Jeffrey on the Blue Night saga. The CSOs, together with Malawi Law Society (MLS) pressurized the ruling DPP to return the money it got from the parastatals and City Councils during its fundraising dinner, popularly known Blue Night recently in Lilongwe. However, the DPP Secretary General and Vice President Hetherwick Ntata, rebuffed the call, while Jeffrey WA Jeffrey described it Zachamba. The two argued that the concern parastatals and councils made the decision on their own, hence the ruling party will not return the cash. The CSOs that include Youth and...
(The Maravi Post 09/04/17)
Malawi Government has vehemently denied reports that it has lost all the documents and records relating to the Lake Malawi boundary as said in the Daily Times newspaper on Friday. According to the Daily Times newspaper, the development was revealed on Thursday when some Government officials appeared before the Public Account Committee of Parliament. The report said Government officials openly told the Committee that all the original documents were missing and that only photocopies are remaining. However, Government through the Ministry of Information described the Daily Times report as a misrepresentation of facts. Below is a press statement: Government of the Republic of Malawi wishes to inform the nation that it has in safe custody all relevant documentation and records...
(Malawi 24 09/04/17)
Standard Bank Malawi has appointed Temwani Simwaka as the bank’s acting Chief Executive Officer (CEO). This follows the departure of Andrew Mashanda who has been given a new role within the Standard Bank Group. According to a statement from the bank signed by board chairman Rex Harawa, Simwaka’s appointment is effective September 1. Simwaka is also the bank’s Chief Finance Officer and will be juggling the two roles. The bank has since thanked Mashanda for his services during his four year stint as Standard Bank Malawi CEO. “Andrew led in efforts to build a strong bank and brand that sustainably maintained and grew profitability and market share. He leaves the bank in a very strong and healthy position financially and...
(Malawi 24 09/04/17)
Malawian First Lady Gertrude Mutharika walked the runway on Saturday to raise funds for girl child education. The first lady made her runway debut in a school uniform and carried a Beautify Malawi Trust (BEAM) branded school bag. The show was part of activities at a fundraising state luncheon held at Kamuzu Palace which was organised by the Beautify Malawi Trust (BEAM) in support of girl child education Speaking during the event, Mutharika said girl child education is a symbol of sustainable development since educated girls can ably take part in development activities. Mutharika added that women in the country should be helping and inspiring each other so that more women should be in leadership positions. “Women should yearn to...
(Bloomberg 09/04/17)
The worst may be over for Africa’s two largest economies as they likely emerged from a slump in the second quarter. Official data on Tuesday will probably show South Africa’s economy expanded in the three months through June, ending its second recession in less than a decade. Nigeria’s gross domestic product probably grew from a year earlier, and came out of its worst slump in a quarter of a century. South Africa and Nigeria together account for almost half of sub-Saharan Africa’s GDP and their recoveries may boost trade and production across the region. The reasons differ: while Nigeria, the continent’s biggest oil producer, is benefiting from a rebound in crude output, stronger retail sales may help drive growth in...
(Nyasa Times 08/31/17)
The governing Democratic Progressive Party (DPP) has accused leader of opposition Lazarous Chakwera for writing the foreign missions on alleged threats to life of Malawi Congress Party (MCP) candidate for Nsanje Lalanje Constituency parliamentary by-elections slated for October 17, Lawrence Sitolo. Chakwera wrote a letter copied to US embassy, Germany, European Union, British High Commission and the United Nations to report that Sitolo is living dangerously as DPP gurus are baying for his blood. But DPP responded at a news conference which they addressed at Central Office of Information in Lilongwe, saying Chakwera should have reported the matter to “right institutions” such as Malawi Electoral Commission and Police and not donors. “If MCP has evidence that their candidate is receiving...
(Nyasa Times 08/31/17)
Malawi and South Africa on Thursday signed an agreement of cooperation in the field of tourism as one way of enhance mutual cooperation between the two countries in the sector. The signing agreement took place at Bingu International convection centre BICC in Lilongwe on the side lines of the Malawi “ Takulandirani” 2017 Malawi International Tourism Expo 2017. Minister of Trade, Industry and Tourism, Henry Mussa said government of Malawi appreciates the support it gets from southern government for the tourism sector. He said South Africa has assisted in the capacity building of grading assessors, restocking of wildlife species in protected area and training of wildlife personnel at South Africa Wildlife College. Mussa said having the agreement signed has been...
(Xinhuanet 08/31/17)
Cooperation between China and Africa has seen remarkable progress in renewable energy, showing the determination of developing countries to harness the huge potential of clean energy and combat climate change. China-Africa Renewable Energy Cooperation and Innovation Alliance, a coalition of financing institutions, smart grid providers and core manufacturers, on Thursday signed a Memorandum of Understanding (MOU) on cooperation with Africa Renewable Energy Initiative (AREI). "Africa has the highest potential for renewable energy, but the least access to it," said Seyni Nafo, chairman of AREI endorsed by the African Union Assembly. The MOU will enable the two parties to cooperate in renewable energy generation in Africa, with Chinese smart grid providers and core renewable energy manufacturers providing technological and financial support...
(Bloomberg 08/30/17)
One Thousand & One Voices LLC, a private-equity fund started by the great-grandson of the founder of Coors Brewing Co., said it bought a producer of sushi-quality trout that is the largest such facility in Africa. SanLei’s operations are on the Katse Dam in Lesotho, an enclave surrounded by South Africa, 1K1V, as the fund is known, said in an emailed statement Tuesday. The company didn’t disclose the value of the transaction. SanLei has secured a marketing and distribution agreement with CGC Japan Co., which has more than 4,000 stores and collective revenue of more than $40.5 billion, making it Japan’s largest joint-procurement supermarket chain, 1K1V said. The fund has been hunting for private-equity investments that tap Africa’s growing consumer...
(Reuters (Eng) 08/29/17)
Europe’s “big four” continental powers and three African states agreed a plan on Monday to tackle illegal human trafficking and support nations struggling to contain the flow of people across the desert and Mediterranean sea. The 28-nation European Union has long struggled to reach a coherent answer to the influx of migrants fleeing war, poverty and political upheaval in the Middle East and Africa, and the crisis is testing cooperation between member states. After hosting the leaders of Germany, Italy, Spain, Chad, Niger and Libya, French President Emmanuel Macron said it was time for greater coordination. “We must all act together - from the source countries to Europe and passing by the transit countries, especially Libya - to be efficient,”...
(Reuters (Eng) 08/28/17)
Getting Europe’s migrant crisis under control will be in focus at a summit of Europe’s “big four” continental powers and three African nations in Paris on Monday, with French President Emmanuel Macron seeking concrete action. The 28-nation European Union has struggled to agree on a coherent answer to the influx of migrants fleeing war, poverty and political upheaval in the Middle East and Africa, and the crisis is testing cooperation between member states. Over the summer, Macron sought to take the initiative on managing the flow of migrants crossing the Mediterranean from Libya, mainly into Italy. He proposed hotspots in Africa to handle asylum requests. The viability of such centers was questioned by European and African allies and on Monday...
(Malawi 24 08/25/17)
Leader of Opposition Lazarus Chakwera has claimed that Malawi’s politics is riddled with educated fools who are entrusted with leadership positions. Chakwera who is also Malawi Congress Party (MCP) president made the remarks at a two-day convention Transformational Alliance in Blantyre on Friday. The MCP leader told delegates to the convention that if Malawi is to have transformational leaders, the country should stop measuring leadership by education and electing leaders according to tribe, age or region. “We have a lot of educated fools in the country’s political leadership. What we need is to know who we are, where we are and where we want to be. Not mediocrity and politics of appeasement,” he said. Speaking at the same conference, economist...
(Malawi 24 08/25/17)
Musician Rihanna is not yet done with Malawi. This time her attention has moved to girls. The iconic singer has now partnered with bike-sharing company Ofo to provide better access to education for girls across Malawi, international media reports say. According to reports, the exercise has already commenced in Malawi. According to time.com, the Barbados born artist has penned a five year deal with her Clara Lionel Foundation and Ofo, a prominent bike-sharing platform based in China. The partnership called “1 KM Action” will donate bikes to scholarship recipients. “They’re expected to help alleviate the challenges of attending school in Malawi, where the drop-out rates are exceedingly high; only 8 percent of students complete secondary school, with girls especially finding...
(Bloomberg 08/24/17)
Every African nation that’s sold dollar debt now has at least one junk rating, but it would be hard to tell by looking at the bond market. The average yield on sovereign Eurobonds in Africa has hovered near the lowest level in two years this month, according to a Standard Bank Group Ltd. index, even after Moody’s Investors Service cut Namibia to below investment grade on Aug. 11. The world’s biggest producer of marine diamonds had been the continent’s only dollar-bond issuer without a junk rating. A low interest rate environment in the developed world has encouraged investors to look past the problems plaguing African economies, including low commodity prices, dollar shortages in some of them and rising political tension...
(Nyasa Times 08/23/17)
Civil servants, mainly those serving in the Malawi Police Service, National Assembly and the Ministry of Natural Resources, Energy and Mining, will not have their August salaries on time, Nyasa Times has learnt. Secretary to the Treasury, Ben Botolo, said there will be a “slight delay” in payment of their August salaries. Botolo said the “slightly delay” is due to late submission of Government Paper No 5A (GP5A) to the Office of the Accountant General to commence the processing salaries. According to him, Ministries, Departments and Agencies are supposed to submit the GP5A documentation by 5th of each month for funding of salaries by Treasury and to submit Payment Vouchers to the Accountant General by 16th of each month. “The...
(Malawi 24 08/23/17)
The Malawi Electoral Commission (MEC) will this week start registration of voters and inspection of the voters roll ahead of the October by-elections. According to a MEC press statement signed by Harris Potani for the commission’s chief elections officer, the registration exercise will run from August 24 to 28, 2017 in all the by-election centres. “The Malawi Electoral Commission is informing the general public that registration of voters and inspection of the voters roll for those who already registered, will run from August 24 to 28, 2017,” reads part of the statement. It further says registration centres will open from 8am up to 4pm everyday including weekends and will also remain operational during lunch time. The commission has further claimed...

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