Month: December 2020 Posts

Former RBM governor poised to take on Nankhumwa for DPP leadership

Dec 31, 2020 Russell Kondowe 0 &

The race to replacing former President Peter Mutharika as leader of the opposition Democratic Progressive Party (DPP) has started garnering curious interest with reports that former Reserve Bank of Malawi governor Dalitso Kabambe is eyeing… ...

RBM Governor questioned over silence on leakage of forensic audit report

Dec 29, 2020 Archangel Nzangaya 0 &

The Centre for Democracy and Economic Development Initiatives (CDEDI) has taken to task the Malawi Reserve Bank Governor Dr. Wilson Banda for his silence on the leakage of a forensic audit report. It is reported… ...

RBM launches financial education week

Dec 07, 2020 Malawi24 Reporter 0 &

By Romeo Umali The Reserve Bank of Malawi (RBM) has today launched this year's financial literacy training focusing on wealth creation and enhancing public awareness in finance. The Investor Education Week has started today and… ...

Malawi Central Bank to release new K1000 banknote

Nov 27, 2020 Russell Kondowe 0 &

The Reserve Bank of Malawi (RBM) will release a new K1000 banknote next year in a bid to fight counterfeiting of currency. RBM Governor Dr. Wilson Banda said at a press briefing today that the… ...

Reserve Bank rejects Mpatsa Holdings’ acquisition of shares in Mybucks Bank

Nov 02, 2020 Mwayi Mkandawire 0 &

The Reserve Bank of Malawi (RBM) has rejected Mpatsa Holdings’ acquisition of 49 percent shares in Mybucks Banking Corporation. Mpatsa Holdings acquired the shares in June and all processes were completed but the deal was… ...

Three people netted for damaging bank notes

Nov 01, 2020 Daniel Sapuli 1 &

Two women and a male counterpart in Mangochi have been arrested after being spotted in a video clip damaging and soiling Malawi Kwacha banknotes at a business top up. The incident occurred on the afternoon… ...

Police bust fake currency syndicate

Sep 26, 2020 Martha Chikoti 0 &

Police in Kasungu are keeping in custody six suspects accused of manufacturing fake Malawi Kwacha and United States dollar banknotes and distributing the fake currency in various areas across the country. The six suspects were… ...

Chakwera appoints new Malawi Central Bank Governor

Jul 08, 2020 Lindiwe Sambalikagwa 0 &

President Lazarus Chakwera has appointed a new Governor of the Reserve Bank of Malawi (RBM), following the firing of Dr Dalitso Kabambe. The Malawi leader has named Dr Wilson Tongani Banda as Governor of the… ...

Chakwera administration dissolves 7 boards

Jul 02, 2020 Malawi24 Reporter 0 &

The Lazarus Chakwera administration has dissolved seven boards of statutory corporations and state owned enterprises. Affected companies are Malawi Revenue Authority (MRA), Roads Fund Administration (RFA), Reserve Bank of Malawi (RBM), Malawi Agriculture and Industrial… ...

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… ...