Month: July 2022 Posts

Parliament approves K60 billion loan for rehabilitation of Kapichira Power Station

Jul 21, 2022 Mike Kalumbi 0 &

Parliament has passed a bill allowing government to access a K60 billion loan from the World Bank for the rehabilitation of Kapichira Power Station. Yesterday, Minister of Finance Sosten Gwengwe presented a bill for authorisation… ...

IMF concerned over Malawi’s debt levels

Jun 06, 2022 Malawi24 Reporter 0 &

The International Monetary Fund (IMF) says restoring debt sustainability and resolving the misreporting case are pre-requisites for approval of Malawi's request for a four-year Extended Credit Facility (ECF. An IMF team led by Mika Saito… ...

Chakwera uses K0.3 billion on Switzerland trip

Jun 01, 2022 Mwayi Mkandawire 0 &

President Lazarus Chakwera spent K300 million on his trip to Switzerland and Equatorial Guinea, government has said. The Ministry of Finance revealed the figures yesterday when Chakwera held a press briefing at State House to… ...

Malawi recruits French firm as debt advisor

May 23, 2022 Malawi24 Reporter 0 &

Malawi Government has picked a French firm to advise the government on debt sustainability. Minister of Finance Sosten Gwengwe revealed this at a press conference last week in Lilongwe, saying the firm is called Global… ...

I will discuss Malawians’ PAYE concerns with Finance Minister — Chakwera

May 02, 2022 Malawi24 Reporter 0 &

President Lazarus Chakwera says he will discuss Malawians' concerns over the new Pay As You Earn (PAYE) system with Minister of Finance Sosten Gwengwe in order to resolve the issue. Chakwera made the remarks yesterday… ...

Malawi Govt backs Lake Malawi Water Project financier

Apr 04, 2022 Malawi24 Reporter 0 &

Malawi Government through the Ministry of Finance has expressed support for Quay Energy Corp (Australia) Pty Ltd, the financier of the Lake Malawi water project amid concerns that the company expected to help Malawi secure… ...

Chilima traveling to USA with 40 delegates

Apr 03, 2022 Archangel Nzangaya 0 &

Malawi's vice president Dr Saulos Chilima is this month slated to attend the United Nations Economic and Social Council Forum for Financing Development and he will be accompanied by 40 delegates. According to a document… ...

Employers association applauds govt for ‘ambitious’ budget

Mar 01, 2022 Archangel Nzangaya 0 &

The Employers Consultative Association of Malawi (ECAM) has commended the Malawi government for what it has described as an 'ambitious' 2022/2023 National Budget. This is according to ECAM's response to the 2022/2023 National Budget which… ...

Malawi Govt increases CDF to K100 million

Feb 19, 2022 Martha Chikoti 0 &

Government has increased Constituency Development Fund (CDF) from K40 million to K100 million for each of the 193 constituencies in Malawi. Minister of Finance Sosten Gwengwe announced the increase in Parliament yesterday, attracting cheers from… ...

Malawi Finance Minister presents K2.84 trillion Budget

Feb 18, 2022 Mike Kalumbi 0 &

Minister of Finance and Economic Affairs Sosten Gwengwe has presented the 2022/2023 national budget estimated at K2.84 trillion, representing 24 percent of the Gross Domestic Product (GDP), up from last fiscal year’s K2.2 trillion. Total… ...

Govt removes VAT on cooking oil

Feb 18, 2022 Martha Chikoti 0 &

Malawi Government has removed Value Added Tax (VAT) on cooking oil and Minister of Finance Sosten Gwengwe says government expects the price of the commodity to go down. Gwengwe made the statement at Parliament Building… ...

Malawi, African Development Fund signs K11.7 billion grant agreement

Feb 13, 2022 Malawi24 Reporter 0 &

The African Development Fund (ADF) and the Government of Malawi have signed a $14.2 million (K11.7 billion) grant agreement for Malawi to undertake infrastructure upgrades and create a more efficient and transparent digital payment system.… ...

Chilima says Malawi is a land of untapped opportunities

Nov 22, 2021 Malawi24 Reporter 0 &

Vice President Saulos Chilima has told potential investors at the Expo 2020 Dubai that Malawi has endless investment opportunities in many sectors such as Agro-processing, Tourism, Energy, Mining and Manufacturing. He made the remarks during… ...

Govt wants more Malawians to venture into cross-border trade

Jul 13, 2021 Martha Chikoti 0 &

Minister of Trade Sosten Gwengwe says Malawi Government wants more Malawians, particularly women and youths, to venture into cross-border trade and is also looking to increase the volume of processed products which Malawi exports to… ...

Politicians, traditional leaders, business kingpin grace Bushiri book launch 

Jun 22, 2021 Malawi24 Reporter 0 &

Prophet Shepherd Bushiri says he was greatly honoured by the presence of several politicians, traditional leaders and businesspersons at the launch of his book. The launch of the book titled  "The Jesus Nation" was held… ...