Category: Business

Finance Minister Chithyola Banda has finalised the three consultative * Let’s avoid coming up with a consumption budget as some of the MDAs are given a lot of resources * Yet they cannot contribute anything to the country’s revenue base * Ministries should not only be consumers but also innovative to generate revenue By George Bulombola, MANA Stakeholders, who included business community, the academia, civil society and religious organisations from the Northern Region, have advised Ministry of Finance, Simplex…

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* As Illovo Sugar Malawi supports the two Presidential Goodwill Ambassadors with K100m towards construction of houses * When President Chakwera appointed them as Goodwill Ambassadors it did not mean they were to receive funding from government and its agencies * They were to look elsewhere for the financial support — thus from the private sector By Duncan Mlanjira Former Presidents, Bakili Muluzi and Joyce Banda (JB), who were appointed by President Lazarus Chakwera as Goodwill Ambassadors to overseer…

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* Along the road to 2063, there are many opportunities that have to be exploited by everyone at every level * People must be told that this is not a government agenda, but their own roadmap that can lift them out of poverty By Wanangwa Tembo, MANA Traditional Authority (TA) Mphomwa of Kasungu says civic education institutions must ensure that there is intensified sensitisation and awareness on the Malawi’s national vision, MW2063 so that every person participates towards its…

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John Chilembwe, who was ordained as Reverend in the US * It is worrisome that over the years government and churches have not committed themselves to promote such “My government is committed to fulfill Chilembwe’s dream in making Malawi an industrialised nation as stipulated in the MW2063 By Chilungamo Missi, MANA At the commemoration of Chilembwe Day and Memorial Service of Worship at Providence Industrial Mission (PIM) in Chiradzulu on Monday, President Lazarus Chakwera urged Malawians to draw lessons…

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Finance Minister Chithyola Banda at the Pre-budget consultative meeting  * At an economy of US$13 billion what is being added is only US$0.4 billion at the target of 3.4% growth rate * An economy of US$550 billion at 3.4% growth rate adds US$18.7 billion—Chief Economist Chifipa Mhango By Duncan Mlanjira Economic expert, Chifipa Mhango — who is Chief Economist for South Africa-based Don Consultancy Group — says the 3.4% growth rate being projected in 2024-25 National Budget may suggest…

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ICAM Chief Executive Officer, Noel Zigowa * There was the need for MRA to collaborate with local Councils to rope in the SMEs and to improve on registration of SMEs * MRA should aggressively follow up on those who have been subjected to withholding tax on provision of goods or services By Duncan Mlanjira Local Councils collect market fees daily and annual rates effectively and thus Malawi Revenue Authority (MRA) can leverage on this existing system by bringing all…

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MCCCI Director of Business Environment, Madalitso Kazembe making the presentation  * Triggering growth in the manufacturing sector would offset the huge demands for imports * Enhance import substitution, and in turn release pressure on foreign exchange reserves By Duncan Mlanjira The apex body of the private sector, the Malawi Confederation of Chambers of Commerce and Industry (MCCCI), is proposing that promoting the manufacturing sector growth should be a serious priority in the 2024–25 National Budget. This was suggested on…

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* Government should introduce a preferential corporate tax of 25% for a period of up to 3 years upon listing when a company raises new capital for the business — i.e. an offer for subscription By Duncan Mlanjira There are currently only 16 companies that have been listed on the Malawi Stock Exchange (MSE) since its establishment in 1994 and this places the MSE as one of the smallest in the southern African region in terms of the number…

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* As Minister of Finance Simplex Chithyola Banda dates stakeholders for the Pre-budget consultation meeting * Stakeholders’ views, inputs and suggestions are critical to support Government in its aspiration to build and grow the economy By Duncan Mlanjira The 2024-25 national budget will be formulated with optimism and will focus on recovery and cushioning the economy from the effects of recent policy changes Government has implemented. This has been assured by Minister of Finance & Economic Affairs on Monday…

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