Month: April 2021 Posts

ACB, RBM in Mangochi for virtual meeting

Apr 20, 2021 Russell Kondowe 0 &

Officials from Reserve Bank of Malawi, Anti-Corruption and Financial Intelligence Authority (FIA) have travelled from there bases in Lilongwe to Mangochi for a virtual meeting. According to lawyer Bright Theu, officials from the three organisations… ...

PPDA orders RBM to retender ICT bids

Mar 15, 2021 Andrew Cane Chilapondwa 0 &

The Public Procurement and Disposal of Assets Authority (PPDA) has ordered the Reserve Bank of Malawi (RBM) to retender the supply of ICT equipment to the Central Bank after it found errors in the bidding… ...

Reserve Bank of Malawi Mzuzu branch ‘for sale’

Mar 02, 2021 Malawi24 Reporter 0 &

A contractor is looking to sell the K18.4 billion Mzuzu Branch of the Reserve Bank of Malawi (RBM). RBM has since applied for High Court order to restrain the contractor, David Chidyaonga of DDC Designs,… ...

Four arrested for decorating flower bouquets with banknotes

Feb 16, 2021 Malawi24 Reporter 0 &

Four people have been arrested in Blantyre after they decorated flower bouquets with Malawi Kwacha banknotes. The suspects were arrested during an operation conducted by fiscal police in liaison with Reserve Bank of Malawi (RBM)… ...

SMEs welcome policy rate reduction

Feb 08, 2021 Malawi24 Reporter 0 &

The Indigenous Business Association of Malawi (IBAM) has welcomed the central bank’s decision to have the current policy rate maintained at 12 percent, with a plea for government to prioritize indigenous businesses in awarding contracts… ...

Court jails eight over counterfeit currency in Kasungu

Feb 05, 2021 Archangel Nzangaya 0 &

The Kasungu Senior Resident Magistrate’s Court has sentenced David Shumba to 14 years imprisonment and seven others to 4 years in prison each over counterfeit currency. According to state prosecutor Assistant Superintendent Peter Njiragoma, the… ...

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… ...