Category: News

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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