Month: May 2020 Posts

RBM staff to continue working from home

May 04, 2020 Mike Lyson Zgambo 0 &

Reserve Bank of Malawi says some of its workers will continue to work from home in order to decongest the banks' offices amid the coronavirus pandemic. According to a notice signed by the Central Bank… ...

Selfish banks continue to deduct loans despite Reserve Bank order

Apr 28, 2020 Malawi24 Reporter 0 &

Some Malawian banks are still deducting money for loan repayments from customers despite the Reserve Bank of Malawi telling banks to provide a three-month moratorium on the repayments. One of the country’s biggest commercial, National… ...

Airtel, TNM remove user fees and charges

Apr 22, 2020 Mike Kalumbi 0 &

Mobile Network Operators, Airtel and TNM have removed user fees and charges on personal transfers on the same network for a period of three months amid coronavirus which has hit the country with 18 confirmed… ...

Malawi banks suspend loan repayments

Apr 10, 2020 Mwayi Mkandawire 0 &

Commercial banks in Malawi have suspended loan repayments for three months due to the coronavirus pandemic. The banks revealed the arrangement in a statement signed by President of Bankers Association of Malawi (BAM) Kwanele Ngwenya… ...

Reserve Bank injects K12 billion into Malawi banks

Apr 03, 2020 Mwayi Mkandawire 0 &

The Reserve Bank of Malawi (RBM) has released K12 billion into Malawi’s banks to enable the banks to support sectors hit by the Covid-19 in Malawi. The bank announced the package in a Monetary Policy… ...

Malawians question Reserve Bank’s K1.1b water chiller tender

Jan 09, 2020 Russell Kondowe 2 &

Malawians have asked the Anti-Corruption Bureau to investigate Reserve Bank of Malawi’s K1.1 billion contract for the supply of water chiller plants, saying they are suspecting foul play. The bank has engaged Anderson Engineering for… ...

RBM ramps up fight against use of foreign currency in local transactions

Jan 04, 2020 Russell Kondowe 0 &

Shoprite was recently fined K5 million as the Reserve Bank of Malawi (RBM) ramped up its fight against the practice of quoting in foreign currency. According to RBM Governor Dalitso Kabambe, in 2019 the Bank… ...

We can now easily detect cashgate – Reserve Bank

Jan 04, 2020 Lindiwe Sambalikagwa 0 &

The Reserve Bank of Malawi (RBM) says it has sealed off all the loopholes for siphoning public funds hence cashgate can now be easily detected and dealt with immediately. According to the bank’s governor Dalitso… ...

Malawi economy showed resilience in 2019 – RBM

Jan 04, 2020 Richard Jimu 0 &

The Reserve Bank of Malawi (RBM) says Malawi’s economy demonstrated remarkable resilience throughout 2019 despite political uncertainty during the year. The central bank’s governor Dalitso Kabambe said this when commenting on the effects of last… ...

Former Malawi central bank boss appointed FDH MD

Jan 03, 2020 Malawi24 Reporter 0 &

FDH Bank has appointed former Reserve Bank of Malawi Governor, Dr. Ellias Ngalande, as Managing Director. Ngalande’s appointment is effective 2 January, 2020. He replaces Ivorian Eric Ouattara who left FDH last year. In a… ...

MAIIC begins operations

Dec 11, 2019 Martha Chikoti 0 &

Malawi Agricultural and Industrial Investment Corporation (MAIIC) which was established last year to drive private sector led economic development has started operating in the country. This was revealed during a press briefing that MAIIC in… ...

Government asked to be cautious on loans

Nov 25, 2019 Malawi24 Reporter 0 &

Government has been asked to seek loans from financial institutions which provide proper expenditure guidelines for their loans to avoid misuse of the funds by government departments or ministries. Veteran journalist Ephraim Munthali made the… ...

Demos will affect govt revenue – Reserve Bank     

Jul 27, 2019 Mike Lyson Zgambo 1 &

The Reserve Bank of Malawi (RBM) says it expects government revenue to take a hit due to the post-election demonstrations. RBM Governor Kabambe said this on Friday in Mzuzu where he held a press briefing… ...

Reserve Bank of Malawi manager, businessperson arrested for stealing K354m

Jun 18, 2019 Malawi24 Reporter 0 &

A Reserve Bank of Malawi (RBM) manager, a businessperson and two other RBM employees have been arrested for stealing K354 million at the Central Bank. Police have arrested the bank’s manager for operations Charles Mchakulu,… ...

Gwaladi pleads not guilty

May 03, 2019 Chikondi Magalasi 1 &

‘Zangondipasa minyama’ hit maker, Joe Gwaladi, has pleaded not guilty to the charge related to damaging Malawian currency levelled against him. Gwaladi was arrested on 24th April this year by Malawi Police Service in Phalombe… ...