Month: May 2022 Posts

Transglobe defrauded RBM of K6 billion – Report

May 14, 2022 Malawi24 Reporter 0 &

Export Development Bank (EDF), a subsidiary of the Reserve Bank of Malawi (RBM), gave private-owned Transglobe Produce Export K6 billion which it is feared may never be paid back. This has been revealed by an… ...

Malawi runs out of forex

Mar 26, 2022 Russell Kondowe 0 &

As Malawi continues to experience foreign exchange shortages, the Reserve Bank of Malawi (RBM) has demanded that 30 percent of forex realized from tobacco sales should be immediately sold to the bank. In a letter… ...

Over K12 billion vanishes at Malawi Reserve Bank

Mar 19, 2022 Malawi24 Reporter 0 &

A Reserve Bank of Malawi (RBM) fund has lost over K12 billion through acts of gross negligence and abuse of office, a special audit report has revealed. The money was lost at Export Development Fund… ...

Mwanamvekha and Kabambe to spend another night in police custody

Dec 09, 2021 Lindiwe Sambalikagwa 0 &

Former Malawi Minister of Finance Joseph Mwanamvekha and former Central Bank Governor Dalitso Kabambe who are accused of presenting false economic figures will spend another night in police custody as Lilongwe Senior Resident Magistrate Florence… ...

RBM calls for awareness on pension rights

Nov 26, 2021 Malawi24 Reporter 0 &

The Reserve Bank of Malawi (RBM) has urged employees in the country to be aware of their rights under the Pensions Act and ensure that they have been put on the National Pension Scheme by… ...

DPP Govt dropped plan to introduce K5000 banknote – Mwanamvekha

Nov 25, 2021 Malawi24 Reporter 0 &

Democratic Progressive Party (DPP) spokesperson on Finance Joseph Mwanamvekha says the DPP administration wanted to introduce 5000 Malawi Kwacha banknote but dropped the plan after realising that it was not good for Malawians. Mwanamvekha who… ...

Magistrate Court replaces MUST on 2000 Malawi Kwacha banknote

Nov 24, 2021 Malawi24 Reporter 1 &

Reserve Bank of Malawi (RBM) has replaced the image of the Malawi University of Science and Technology (MUST) at the back of the K2000 banknote with an image of Blantyre Magistrate Court to represent the… ...

Reserve Bank of Malawi introduces K5000 banknote

Nov 23, 2021 Mike Kalumbi 3 &

The Reserve Bank of Malawi has introduced a 5000 Malawi Kwacha Banknote.  The bank has also introduced an upgraded 2000 Kwacha Banknote. This was disclosed at a media briefing which took place in Lilongwe this… ...

Muneneze mabanki omwe akukudulani ndalama – Mlusu

Nov 03, 2021 Archangel Nzangaya 0 &

Boma kudzera kwa nduna ya zachuma a Felix Mlusu lati anthu omwe akudulidwa ndalama zawo ku mabanki mu dzina la VAT, akanene ku banki ya Reserve kuti ndalama zawo zonse zibwezedwe. A Mlusu amayankhula izi… ...

Reserve Bank heading to Supreme Court in ICT tender case

Nov 01, 2021 Andrew Cane Chilapondwa 0 &

Reserve Bank of Malawi (RBM) has applied for stay of application of judgment made by Judge Kenyatta Nyirenda who ordered the bank to restart procurement process for the 1.8 Billion Kwacha ICT contracts for procurement… ...

RBM urges Banks to deliver inclusive financial services

Sep 17, 2021 Guest Writer 0 &

By Kenneth C. Mkandawire Reserve Bank of Malawi (RBM) has encouraged commercial banks to provide services that promote financial inclusion. Deputy Governor (DG) of RBM, Dr. Grant Kabango, made the remarks at Bingu International Convention… ...

Mulli seeks K2.1 billion in damages from audit firm over RBM report

Sep 04, 2021 Malawi24 Reporter 0 &

Mulli Brothers Limited (MBL) is seeking K2.1 billion compensation from Deloitte & Touche Services Limited, saying the audit firm defamed the company in a forensic audit report for the Reserve Bank of Malawi (RBM). In… ...

Former RBM Governor Chuka dies  

Aug 26, 2021 Malawi24 Reporter 0 &

Former Governor of the Reserve Bank of Malawi (RBM), Charles Chuka, has died. RBM spokesperson Ralph Tseka has confirmed the sad news. He added that RBM mourns with the Chuka family and remembers Chuka as… ...

Questions raised over US$76,500 sent to Malawi Embassy in Brazil

Jul 22, 2021 Malawi24 Reporter 0 &

A payment of about US$76,5000 sent by Reserve Bank of Malawi (RBM) to the Malawi Mission in Brazil has raised concerns about  money laundering and forex externalization. On 4 June this year, the Ministry of… ...

Court orders Reserve Bank to release forensic audit report

Jul 20, 2021 Andrew Cane Chilapondwa 0 &

Judge Kenyatta Nyirenda has ordered the Reserve Bank of Malawi (RBM) to produce its forensic audit report within three days in an ongoing K1.8 billion ICT procurement case. The ruling follows an application by Sparc… ...