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Tag Archive for ‘Malawi’
Malawi auctions off controversial presidential jet for $15 mln
The controversial Presidential jet bought by late Malawi President Bingu wa Mutharika has finally been auctioned off to Bohnox Enterprise Ltd– a Virgin Islands company for $15 million, after new President Joyce Banda ordered to dispose of it as the government implements an austerity budget. Chintu Phiri, Principal Secretary in the office of the President… Read More ›
Malawi cbank leaves bank rate, LRR unchanged
The Reserve Bank of Malawi (RBM) has again kept both its main lending rate and Liquidity Reserve Requirement unchanged to support the local currency and rein in on runaway inflation, the bank said in a statement posted on its website “Based on regular economic and monetary analyses, the MPC decided to keep the Bank rate… Read More ›
#Malawi — Are incidences of mob justice a result of IMF reforms?
Malawi’s President Joyce Banda has had 12 tumultuous months since she took office in April last year. She has attempted to right Malawi’s economy by devaluing its currency, giving herself a 30 percent pay cut and proposed to offload a fleet of Mercs for her 35 member cabinet. But the economy has continued to sputter… Read More ›
#Malawi President Banda tells off #Madonna
State House in Malawi has made a scathing attack on US pop star Madonna, days after the country’s immigration officials searched her and her security detail – a first since she started coming to Malawi in 2006 President Joyce Banda, who came to power after the death of her mercurial predecessor Bingu wa Mutharika last… Read More ›
#Malawi’s hopes on tobacco, bumper harvest
Malawi’s earnings from Tobacco have reached $15.1 million in the fourth week of sales, a 200 percent jump compared to the same period last year. The Tobacco Control Commission (TCC) said that during the first four weeks of last year, Malawi only earned $5.3 million. This is good news to a country so dependent on… Read More ›
#Malawi clarifies position on lake dispute with #Tanzania
Malawi’s department of foreign affairs has clarified earlier comments made by President Joyce Banda that the southern African nation has decided to take the Lake Malawi dispute with Tanzania to the International Court of Justice. President Banda had earlier in the week said that Malawi was giving up on mediation efforts and would take to… Read More ›
Madonna hits back at #Malawi officials
US pop star Madonna has said that she will continue supporting Malawian children because her work is all about them and not the country’s politicians. Speaking through her manager Trevor Neilson, Madonna, who left Malawi on Saturday, said that she has not been treated fairly since she arrived in the poor southern African country. “Madonna… Read More ›
#Malawi: Soaring food, fuel prices push inflation to 37.9 pct in Feb
Malawi’s consumer headline inflation rose to 37.9 percent year-on-year in February compared to 35.1 percent in January, the National Statistics Office (NSO) said in a statement on Monday The NSO said inflationary pressures were coming from soaring maize and petrol prices which have left many families, mainly in the urban areas, going on empty stomachs…. Read More ›
Broke #Malawi splurges $4 mln on Vehicles for 35 Cabinet Ministers
Malawi’s cash strapped government has spent around US$4 million (MK1.6 billion) on a new fleet of 4 wheel drive Toyota Prado TX models for 35 cabinet ministers. At current market prices, a Toyota Prado TX at Toyota Malawi is going at around $115,000 (MK46 million) inclusive import duty. The splurge on the SUVs comes amidst… Read More ›
#Madonna jets into Malawi, faces govt condemnation over abandoned school project
US pop star Madonna arrived in Lilongwe on Monday morning amidst accusations of abandoning the construction of the $15 million girls’ school. Immigration and security officials at Lilongwe’s Kamuzu International Airport confirmed that Madonna arrived at 9 AM local time on a private jet. The singer, who has adopted two children from Malawi, came under-fire… Read More ›
