Sosten Gwengwe Archives

Each Malawian has half a million debt: Chakwera borrows K730 billion in 9 months

Sep 22, 2022 Mwayi Mkandawire 0 &

President Lazarus Chakwera and his administration have borrowed about K730 billion in 9 months and now each Malawian has a debt of about K600,000. Finance Minister Sosten Gwengwe said at the National Youth Conference in… ...

Disembala mafuta afika K900 — atero a Gwengwe

Sep 15, 2022 Archangel Nzangaya 0 &

Pomwe anthu m'dziko muno analonjezedwa kuti vuto la kuthimathima kwa magetsi litha mwezi wa Disembala chaka chino, nduna yazachuma yati anthu ayembekezeso kuti mafuta agalimoto atsika mtengo kufika pa K900 mwezi omwewu. Nkhaniyi ikutsatira kutsitsidwa… ...

More good news for Malawi: Finance minister says Petrol will drop to MK900

Sep 15, 2022 Lindiwe Sambalikagwa 0 &

As Malawians are still celebrating the MK200 drop on Petrol price, Finance Minister Sosten Gwengwe has announced that the drop is just the start of more good things in fuel prices. The Malawi Energy Regulatory… ...

Malawi still in talks with IMF – Gwengwe

Sep 14, 2022 Mike Kalumbi 0 &

Minister of Finance Sosten Gwengwe has disclosed that discussions with the International Monetary Fund (IMF) on the new Extended Credit Facility (ECF) are ongoing and what has been put on hold is an IMF Mission… ...

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… ...