A thumb up for Peter: Lending rate cut gets praise

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An economic expert has applauded the Reserve Bank of Malawi (RBM) for slashing the lending rate to 18 percent effective Wednesday this week.

Economic expert Ben Kalua disclosed that Malawi has been waiting to get a cut in lending rate by the country’s central bank but economic glitches had forced the bank to hike the rate making it more challenging for businesspeople to access loans from commercial banks.

Ben Kalua

Kalua: This is very goo news.

“This is what we have been waiting for from Reserve Bank, just like it is the case with other countries, the slash helps citizens to be economically empowered as they borrow money for businesses,” said Kalua.

He further urged the banks to follow the trend by cutting their lending rates to citizens for the country to achieve development.

“People had to deposit money with less interests but when getting loans they were charged high interests, it is like punishing someone who can help in development of the nation so banks must follow what reserve bank has done,” he said.

RBM said on Wednesday that the reduction has been inspired by domestic and global trends on economy in the world.

Governor for RBM Dalitso Kabambe said Malawi’s economic projection is also among the factors that have led to the slash.

Malawi was reported to have highest lending rates in the southern region of Africa, something that was seen to be blocking local investors.

 

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56 Comments

  1. Empower people with business skills and raise the fixed interest rate to motivate savers!
    Borrowing from the bank will always harm the poor nomatter what.

  2. another ASSET.AFRICAN SERIOUSLY SILLY ELECTORAL TACT.SO MALAWIANS ARE BUSY DANCING OVER THIS.WAIT FOR ELECTIONS TO GO….YOU WILL SEE!

  3. That’s great Mr President!!!!! I hope that banks will do what the President has ORDERED.

  4. kkkkkkkkk ndi zowonadi ka #Kwachaka kukulimba limbabe kazitolera timphamvu wayz.moti chichokeleni Lolemba m’paka lero ndikulephera kuti nditumize ka #Rand kanga ku malawiko cz ikusithidwa mosika, moti ndi kumapita kolipira ku Shopprite ndi ma store ena! koma ndi kawona mmene akusinthira ndi kumabwerera nayo ndikudikira isike kaye phamvu kkkkkkkk pamenepa khaya! nditani!!.

  5. The cut in the interest rate ndiye kuti anthu azikwanisa kubeereka ndalama ku bank mkumapanga ma business mkumapanganso ma profit mosavuta…zikatero dziko limatukuka

  6. Ndikuona kuti ambiri omwe apanga comment do not understand economics… Don’t expect kuti pofika next week zinthu zisintha or kutsika mtengo… Its a process my friends but all in all this is a good development.

  7. Economically this is good development, congratulation to everyone who has contributed to this. however, on the other side am so worried if it comes to hospitals~drugs and equipments shortage eg QECH a mother hospital in southern region kusoweka totengera blood sample ndikuuza guardian kuti akagule ku Mwawiwanthu ptv hospital. may be this side should be corrected first before u raise that thumb to PM. now it should only go to RBM. PM should b last when all sectors r moving smooth.

  8. Nanga magetsi akamazimazima, Peter amagwira ku Escom? That’s why I said at this forum kuti most of us don’t know what we want in this country. We need a lot of civic education. Ambirife are not ourselves, we dance to the tune of your political masters as such you are tethered and manipulated. You have become their slaves. Be neutral and objective and you shall be free physically, psychologically, spirituality, etc etc!

  9. thats what china did,and that’s why they have developed so we malawians lets use this opportunity please lets work hard and join hands to develop our nation…..don’t be lazy and jealous because this two are enemies of development!

  10. A Congress Party, u rush with ur negative comments on an applausible development like this why? Nsanje too much, Mudzafa ndi mtima.

  11. answer me this simple question, what is the price of 1kgsugar to asure people that this slashings are positive on ground lneed answers plz

  12. Chuma ngati sichienda bwino, APM atule pansi. Zikayamba kuenda bwino , APM si governor. Kukakhala njala APM satithandiza. Tikakolora zochuluka ndimalima ndekha. A Malawi winau ndi ufiti koma.

    • Magetsi akamapanda kuthima, ‘it’s all because of the wise and dynamic leadership of Peter Mutharika.’ Akayamba kuthima, ‘it’s because of matope, dzinyalala, nyani and the low water levels.’

    • Kikkkkkk koma mngoni iwe. Anyway that’s Politics kupanda kutelonso sizingaende. However zina zikumachita kuoneka kuti ndi mnsanje which is very unfortunate.

  13. Funso labwino kwambili. In short ama business akabweleka ndalama azipeleka chiongola dzanja chochepelako. Meaning that cash imene yachotseledwayo izitsalano mthumba mwao. Izi zimapangitsa kuti capital ikule, aonjele ogwila ntchito. Ena amene amaopa kubweleka ndalama kuti apange kapena aonjezele business chifukwa chakukula kwa interest akhozano kukabwela. At the end of the day dziko limatukuka. Funso labwino kwambili. In short ama business akabweleka ndalama azipeleka chiongola dzanja chochepelako. Meaning that cash imene yachotseledwayo izitsalano mthumba mwao. Izi zimapangitsa kuti capital ikule, aonjele ogwila ntchito. Ena amene amaopa kubweleka ndalama kuti apange kapena aonjezele business chifukwa chakukula kwa interest akhozano kukabwela. At the end of the day dziko limatukuka. My advise tieni tigwile ntchito zotukwana atsogoleli izi tichedwa nazo. Sikudzabwela Boma longogawa ndalama

  14. Enough of blind royalty!! Enough of worshiping Presidential Office!! Let everyone or anyone get a reward of their efforts. Stop showering accolades to managers for an initiative masterminded by junior workers. If you ask me, this is unfair and discourages the spirit of patriotism among citizens. Suppose there are 10000 civil servants in top government departments who hate the president. And, if anything good happen in these departments, only the president is praised. What do you think will happen? Obviously these civil servants will be pissed off; they will stop working hard, indulge in well calculated corruption just to paint bad image to the person whom you praise for everything. End results, we will all suffer. Let us create a free and fair environment for every citizen to participate for the development of this country. Mind you, not all policies or ideas are supposed to be indorsed by the manager/president. Let opposition parties and everyone else come up with some ideas on what can make Malawi self reliance. Tell everyone how to do it .Even without passing through the parliament, put in into practice. Then, say out loud, Come! Vote for us because we did this and its working!

    • Funso labwino kwambili. In short ama business akabweleka ndalama azipeleka chiongola dzanja chochepelako. Meaning that cash imene yachotseledwayo izitsalano mthumba mwao. Izi zimapangitsa kuti capital ikule, aonjele ogwila ntchito. Ena amene amaopa kubweleka ndalama kuti apange kapena aonjezele business chifukwa chakukula kwa interest akhozano kukabwela. At the end of the day dziko limatukuka. My advise tieni tigwile ntchito zotukwana atsogoleli izi tichedwa nazo. Sikudzabwela Boma longogawa ndalama. Ntchito ya Boma ndikupanga create environment yabwino kuti munthu AKAKHETSA THUKUTA phindu lake aziliona.

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