Mzuzu Street Vendors Defy Order to Relocate to Flea Market

By Ireen Mseteka-MANA Vendors plying their trade outside Mzuzu Main market have vowed to continue selling their products in undesignated points despite the Mzuzu City Council’s (MCC) plea for them to move to flea market. In an interview, Chairperson for the vendors, Jane Jere said the vendors would continue selling outside the recognized market as the flea market is isolated. “The Council and Police started kicking us out of the street a long time ago, but we can never…

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NBS Bank permanently extends banking hours to 6pm in five branches

By Duncan Mlanjira NBS Bank Plc, one of the registered commercial Banks in Malawi, which made special extension of its banking hall hours during the festive season up to 6pm, has now made it official and permanent in five of its branches; Chichiri, Blantyre, Lilongwe Old Town Mzuzu and Zomba. This was disclosed on Wednesday by the bank’s Channel & Customer Service Senior Manager Gracious Changaya at a press briefing held at their head office at Ginnery  Corner in Blantyre, saying…

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Sunbird Tourism partners with Kara O’ Mula Country Lodge on management contract

By Duncan Mlanjira As part of its brand expansion, Sunbird Tourism plc, Malawi’s leading hospitality provider, has partnered with Mulanje-based Kara O’ Mula Country Lodge, the eco-tourism lodge located at the foot of Mulanje Mountain and surrounded by beautiful forestry, on management contract. A press release from Sunbird Tourism says this is partnership deal with the owners of the facility in which Sunbird will now be responsible for the management of day to day operations of one of Malawi’s most revered…

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Reserve Bank of Malawi launches 2019-2021 strategic plan and Malawi kwacha smartphone App

By Duncan Mlanjira Reserve Bank of Malawi (RBM) officially launched its 2019 to 2021 Strategic Plan to guide its operations for the next three years and has also developed the Malawi Kwacha Smartphone Application in its efforts to bring down counterfeit currency. Launching the Plan and the App at their Blantyre offices, RBM Governor Dalitso Kabambe said the central bank will be reviewing its every strategic plan every three years to ensure that it remains relevant and focused on…

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Reserve Bank of Malawi reduces policy rate to 14.5%

By Duncan Mlanjira Reserve Bank of Malawi (RBM) has reduced the rate at which commercial banks borrow from the central bank as lender of the last resort by by 150 basis points from 16% to 14.5%. Addressing a press conference on Wednesday at their offices in Blantyre soon after a Monetary Policy Committee meeting, RBM Governor Dalitso Kabambe also announced that the central bank has also reduced the Lombard rate from 200 basis points to 40 basis points above…

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National Bank of Malawi’s MO626 now on Airtel Money platform

By Muloyi Magenge  National Bank of Malawi (NBM) has become the sixth Malawian bank to integrate its electronic banking service, MO626 ice platform, with Airtel money service in spirited efforts to reach out to more people with banking services. Airtel and NBM announced their partnership at the country’s leading mobile phone operator’s headquarters in Lilongwe in a move that has excited customers of the two service providers. Head of Airtel Money Chris Sukasuka said the innovation brings more financial…

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Germany to invest in Bio-Energy

The Government of Germany is considering starting a new cooperation with Malawi Government in the field of Bioenergy in order to boost the country’s energy sector. German Federal Minister of Economic Corporation and Development, Dr Gerd Muller said this at Kamuzu Palace in Lilongwe on Monday in an audience with President Prof Arthur Peter Mutharika. The remarks come amidst Mutharika’s acknowledgement of the country’s challenges in the energy sector. Muller said there is need for Germany and Malawi governments…

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AHCX Limited successfully meets procurement target of 32,000 MT of maize for strategic grain reserve

By John Saukira AHL Commodities Exchange (AHCX), Malawi’s transparent market platform for commodities, has successfully completed the procurement of the 32,000 metric tonnes of white non-GMO maize for the Strategic Grain Reserves as per its government contract through the National Food Reserve Agency (NFRA) worth K5 billion. AHCX Limited Research and Communications Manager Mark Ndipita disclosed this on Sunday saying they completed the exercise on November 2, 2018 as directed by NFRA. He said the company bought 7,470 metric…

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MISA Malawi to save K2.6m annually with new office

By John Saukira Media Institute of Southern Africa (MISA) Malawi Chapter says it will be saving about K2.6 million annually once its newly-acquired office structure at Lilaga community, along the Old Lilongwe Airwing Road, becomes operational mid this year. MISA Malawi chairperson Tereza Ndanga said this on Saturday morning when she took journalists on a tour of the new office block where she disclosed that the media body struggles to pay K220,000 every month for its current offices in…

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NBS Bank extends banking hours for the festive season up to 6pm

By Duncan Mlanjira NBS Bank has extended its banking hours up to 6pm at nine of its key service centres in the country to give customers more flexibility in banking for deposits and withdrawals during the busy festive season. A statement from the bank’s Chief Executive Officer, Kwanele Ngwenya, says the service centres are Salima, Mangochi, Blantyre, Limbe, Ginnery Corner, Zomba, Lilongwe, Capital City and Mzuzu up to December 31. Normal banking hours for all NBS service centres are…

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