Business – Page 128 – Maravi Express – Your Kind of News. Clear and accurate.

Minister Kunkuyu urges Blantyre City Council to amicably resolve differences with street vendors

November 23, 2023

| Business, Law Enforcement, National, News

Kunkuyu addressing the vendors * Some vendors reacted angrily to Council officials who were snatching merchandise from those who were selling in undesignated places * The situation turned ugly when some of the vendors hit back and stoned a Council vehicle that carried officials By Tikondane Vega, MANA Following running battles between street vendors, Blantyre City Council patrol officers and the Police, Minister of Information & Digitalisation, Moses Kunkuyu called for an impromptu interface meeting with the concerned parties….

Malawi needs almost US$1bln debt relief by 2027–IMF

November 23, 2023

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| Business, National, News

* Getting a commitment from bilateral creditors, China and India, to restructuring their portion of its external debt * Which was US$4 billion at the end of 2022, was a key requirement for the IMF board to sign off on the ECF By Duncan Mlanjira Report by global news agency, Reuters quotes the International Monetary Fund (IMF) as saying Malawi needs almost US$1 billion in debt relief from its creditors by 2027 — as the country “battles severe medicine,…

Some manufacturers and suppliers indeed exploiting consumers using kwacha devaluation as scapegoat—CFTC

November 22, 2023

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| Business, Law Enforcement, National, News

* Some price this far depict a trend of possible opportunism through excessive price increases * The CFTC has so far formally approached 19 manufacturers and suppliers to explain the rationale behind such high price adjustments By Duncan Mlanjira While it is obvious that any devaluation of the currency may trigger an upward adjustment of the pricing of goods or services, Competition and Fair Trading Commission (CFTC) has observed that some traders are indeed using the devaluation as a…

Suspension of flights by SAA has economic implications for Malawi—Chief Economist Chifipa Mhango

November 22, 2023

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| Business, News, Tourism

* We do understand the position SAA has taken under the challenges Malawi is facing economically as outlined in forex challenges among others * However, we have other airlines operating into Malawi despite the same economic environment * Malawi Government should engage the SAA management on the matter urgently and assure the Airline on how the Malawi economy will be stabilized, with time frames By Duncan Mlanjira Malawi needs South African Airways (SAA) and so does the airline need Malawi, says Chief…

World Bank approves a US$60m grant for importation of fertilizers and pharmaceuticals

November 21, 2023

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| Business, National, News

* Approved on Monday, November 20, the grants is to avert acute shortages of critical and lifesaving commodities * The contingent financing to import fertilizers and pharmaceuticals will address critical shortages in the market * Which, if left unaddressed, have the potential to hinder Malawi’s economic recovery By Laison Kamkole The World Bank’s International Development Association (IDA) has approved a US$60 million grant which will be accessed by commercial banks in Malawi for importation of fertilizers and pharmaceuticals. A…

CCAP Blantyre Synod’s Church & Society desk asks MPs to rise above partisan politics in the current mid-year budget review meeting

November 20, 2023

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| Business, National, News, Politics, Religion

The august House currently sitting in Lilongwe * And objectively deliberate as presented today by the Minister of Finance and Economic Planning, Simplex Chithyola Banda * MPs are very much concerned with pleasing their political party masters at the expense of poor Malawians * Events of last week have revealed the deep-rooted divisions between the two sides of the house and within the opposition By Duncan Mlanjira The Blantyre Synod of the Church of Central Africa Presbyterian (CCAP), through…

IMF’s ECF unlocks US$240 million more

November 20, 2023

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| Business, National, News

Finance Minister in Parliament today * The 2023/24 revised national budget has oozed more optimism and hope following various measures that Government has put in place * To cushion Malawians on the shocks of the recent devaluation of the Kwacha By Laison Kamkole In his presentation in Parliament of the 2023/24 revised national budget Minister of Finance Simplex Chinthyola Banda said the International Monetary Fund (IMF) approval of the extended credit facility (ECF) for Malawi will unlock more than…

CDH Investment Bank commits K5 million sponsorship to KUHeS’ Research Dissemination Conference

November 20, 2023

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| Business, Health, News

* KUHeS is playing a significant work in the health sector and it is also contributing to the development of the country * Through conducting of research activities whose findings always assist to come up with positive measures on how disease outbreak can be controlled By Victor Singano Jnr The CDH Investment Bank (CDHIB) has supported the Kamuzu University of Health Sciences (KUHeS) with K5 million towards the institution’s 2nd Research Dissemination Conference to be held on November 30…

Finance Minister Chithyola Banda revises budget to MK4.33 trillion; Focuses on economic recovery

November 20, 2023

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| Business, National, News

* The mid-year review indicates a positive revision in total revenues and grants, increasing from MK2.55 trillion to MK3.05 trillion * Simultaneously, total expenditure saw an upward adjustment from MK3.79 trillion to MK4.33 trillion By Laison Kamkole In a comprehensive presentation today in Parliament, Minister of Finance & Economic Affairs, Simplex Chithyola Banda outlined the 2023-24 mid-year revised budget framework, revealing significant adjustments to both revenues and expenditures. The Minister made the presentation under the title ‘Time for Reflection…

Information Minister Kunkuyu commends Huawei for bridging digital divide

November 20, 2023

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| Business, Education, National, News

* At the opening ceremony of the 7th edition of Seeds for the Future program * Which is Huawei’s flagship global corporate social responsibility initiative that was launched in 2008 Maravi Express Minister of Information & Digitalization, Moses Kunkuyu has commended Huawei Technologies Malawi for its continued efforts to propel digital knowledge and digital economy that are key enablers of MW2063 national vision. The Minister was speaking during the opening ceremony of the 7th edition of Seeds for the…