Month: May 2018 Posts

Reserve Bank warns companies on pension

May 01, 2018 Martha Chikoti 0 &

The Reserve Bank of Malawi (RBM) has warned companies that do not remit money deducted from employees to pension administrators that they will be prosecuted. RBM governor Dalitso Kabambe issued the warning on Monday when the… ...

Tax outflows, debt cripples Malawi’s growth

Apr 16, 2018 Collins Mtika 0 &

Malawi is struggling to address loss of revenues due to smuggling of minerals, unregulated artisanal and small-scale mining activities, under declaration of taxable income and transfer mispricing by mining companies. Reserve Bank of Malawi statistics… ...

RBM maintains policy rate

Mar 29, 2018 Mike Lyson Zgambo 0 &

The Reserve Bank of Malawi (RBM) has maintained the policy rate at 16 percent. Speaking at a press briefing, Reserve Bank Governor Dalitso Kabambe said the Monetary Policy Committee (MPC) at its meeting this week… ...

Unlicensed foreign exchange dealers warned

Feb 28, 2018 Bright Malenga 1 &

The Reserve Bank of Malawi (RBM) has warned tourist operators in the country over illegal foreign exchange dealings. In a statement signed by its Governor Dalitso Kabambe, RBM says it is illegal to deal with… ...

RBM tells church to encourage proper handling of money

Feb 07, 2018 Martha Chikoti 0 &

The Reserve Bank of Malawi (RBM) has asked the Catholic Church to help the bank in combating mishandling of banknotes by churchgoers. In a letter to the Catholic Church dated January 16, RBM Governor Dalitso… ...

RBM introduces alert system to curb cashgate

Jan 13, 2018 Luke Bisani 14 &

In a move to ensure that public funds are safe, the Reserve Bank of Malawi (RBM) has launched an alert system of government payment transactions. The High Value Alert system will be sending notifications of… ...