Month: July 2017 Posts

MK13.2 billion for making new bank notes

Jul 27, 2017 Luke Bisani 127 &

The Reserve Bank of Malawi (RBM) has disclosed that it is to spend K13.2 billion for replacing damaged bank notes in the country. The huge cost of replacing the currency follow poor handling of money… ...

A thumb up for Peter: Lending rate cut gets praise

Jul 07, 2017 Luke Bisani 56 &

An economic expert has applauded the Reserve Bank of Malawi (RBM) for slashing the lending rate to 18 percent effective Wednesday this week. Economic expert Ben Kalua disclosed that Malawi has been waiting to get… ...

Kabambe appointed as new RBM Governor

Apr 21, 2017 Bright Malenga 39 &

President Peter Mutharika has appointed Dr Dalitso Kabambe as Reserve Bank of Malawi (RBM) Governor replacing Charles Chuka whose contract has expired. According to a statement issued by Chief Secretary to the government Lloyd Muhara,… ...

Illiteracy blocking e-payment in Malawi – RBM

Jan 31, 2017 Luke Bisani 6 &

The Reserve Bank of Malawi (RBM) has disclosed that illiteracy is contributing to low use of electronic payment services in the country. According to RBM statistics, only 40 percent of the country's population is able… ...

Man jailed 4 years over fake K2000 notes

Jan 07, 2017 Bright Malenga 22 &

The Nkhunga first grade magistrate court in Nkhotakota has sentenced a man to four years in jail for possessing and circulating counterfeit bank notes. Nkhunga Police Spokesperson Laban Makalani has identified the man as Iwell… ...

Be warned: a fake K2000 note is in circulation

Dec 29, 2016 Mphatso Khutcha Richard 44 &

Trending social media images show a fake K2000 bank note circulating in Malawi with some security features missing on the note. According to the images that Malawi24 has seen, the fake K2000 lacks the brightness… ...

K2000 Bank note causing problems

Dec 27, 2016 Archangel Nzangaya 5 &

Some minibus conductors and small business owners in the commercial city of Blantyre have expressed their concerns over the new K2000 note saying they are meeting challenges to give their customers change. In a series… ...