Month: July 2023 Posts

Fuel shortage re-emerges in Malawi

Jul 18, 2023 Mwayi Mkandawire 0 &

Long queues have returned at fuel stations across Malawi as the Lazarus Chakwera administration is still struggling to resolve longstanding foreign exchange shortage. This morning, motorists and motorcyclists have formed queues at service stations in… ...

Should Malawi Have Devalued the Kwacha?

Jun 25, 2023 Mtembezeka B.C. 0 &

On May 27, 2022, Malawi woke up to the shock that the monetary authorities had devalued the exchange rate by a whopping 25%. The reason given for the devaluation was that we had to align… ...

K10 billion externalised from Malawi every month

Jun 22, 2023 Mwayi Mkandawire 0 &

Malawi loses US$10 million (about K10 billion) worth of forex every month through cartels that involve senior government officials, banks, police and businesspersons. This is according to a published report by The Investigator Magazine. The… ...

Five women found with 338 ATM cards at Kamuzu International Airport

Jun 10, 2023 Russell Kondowe 0 &

Five women have been found with 338 ATM cards at Kamuzu International Airport in Lilongwe while they were coming from Dubai and Police suspect that they were using the cards to externalize forex and launder… ...

Do not import used underwears, MRA warns importers

Jun 10, 2023 Lindiwe Sambalikagwa 0 &

Malawi Revenue Authority (MRA) has told importers to stop importing used underwears and has warned that any imported undergarments will be seized at the country's borders. The revenue authority has said this in a notice… ...

Malawi has no forex, says Reserve Bank

Jun 09, 2023 Russell Kondowe 0 &

The Reserve Bank of Malawi (RBM) says Malawi has run out of foreign exchange reserves. RBM spokesperson Ralph Tseka has confirmed the dire economic situation in an interview with local media. Tseka said government has… ...

Malawi runs out of forex

May 23, 2023 Russell Kondowe 0 &

Mount Meru Petroleum Limited has said it is permanently relocating its trucks from Malawi to Zimbabwe as there is no business in Malawi due to lack of forex. This is according to a letter which… ...