Category: Business

Likongwe deeply regrets his action  * Apologizes to the Public Appointment Committee of Parliament and to MERA Board “for letting them down” * “Whilst I was driven by my Christian values, I realize that legally I was not supposed to do that” By Duncan Mlanjira Malawi Energy and Regulatory Authority (MERA) board member, Pempho Likongwe has tendered his resignation following the controversy sorrounding Henry Kachaje, whose appointment as MERA’s CEO was faulted by the Ombudsman. In his announcement letter…

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Kazako applauded MPC for its direct presence within rural communities * MACRA asked to provide regulatory incentives to operators willing to serve the rural communities * The 180 post offices dotted across the length and breadth of the country are all-inclusive By Duncan Mlanjira Minister of Information Gospel Kazako has said it is sad that only government parastatal, Malawi Posts Corporation (MPC) is serving rural communities while all other private postal and courier service  players in the sector are just…

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By Duncan Mlanjira As at the end of 2020, national pension fund investment contributions was at K1.1 trillion up from K59.5 billion when the Pension Act was enacted while  the same time membership has also tremendously grown from 73,800 to 472,347 in 2020. This was disclosed on Monday by the Reserve Bank of Malawi (RBM) during a workshop that NICO Group organised to engage with various pension managers (employers) held at Sunbird Mount Soche Hotel in Blantyre. RBM’s Principal…

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Maravi Express  At its 4th meeting of 2021 held on November 2-3, the Monetary Policy Committee (MPC) of the Reserve Bank of Malawi (RBM) maintained the policy rate at 12.0%. The Liquidity Reserve Requirement (LRR) ratio on domestic and foreign deposits is at 3.75% while the Lombard rate is at 20 basis points above the policy rate. In a statement from MPC chairperson, Dr. Wilson T. Banda says the decision was arrived at after considering the need to continue…

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By Duncan Mlanjira The Roads Fund Administration announces that from Monday, October 8, motorists will now be expected to pay toll fees at Chingeni Toll Plaza in Balaka along the Blantyre-Lilongwe M1 Road. In a public statement, the Road Fund Administration says qualifying motorists shall enjoy Frequent User Discounts and Local User Discounts as prescribed in the Third Schedule of the Roads Fund Adminstration (Tolls) Regulation 2021. Frequent User Discounts is only applicable on the 11th passage at the…

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