A1 Enterprises Dangles K1 Million For Spelling Master Winner

A1 Enterprises Limited, a subsidiary of Rab group of Companies, has dangled K1 million for this year’s National Spell Master Bee Competition.

 

The finals of the competition are set for March next year.

 

Sales and Distribution Manager for Rab Group of Companies, Douglas Mandala told the media on Monday that they were delighted to be sponsoring the competition since its inception.

 

MCC RateCard Show Malawi Meeting Requirements

Millennium Challenge Corporation’s (MCC) scorecard has revealed that Malawi is meeting the minimum requirements, which will make it possible for the country to be awarded second compact.

MCC scorecard analyses individual countries’ policy indicators; meanwhile Malawi is benefiting from a $350.7 million energy compact which comes to an end next year.

According to the latest MCC scorecard, Malawi passed 20 indicators overall, including those on control of corruption and democratic rights.

Malawi To Introduce K5000 Bank Note

Malawi government is considering introducing K5000 bank note which the Minister of Finance, Economic Planning and Development Goodall Gondwe said would make it easier for people to carry.

Gondwe told the local media on Monday that the new bank note will be a cost-cutting for government when ordering them. At the moment the highest denomination note is K2000.

“Yes, that is very important because we will serve our foreign currency. It costs 8 million dollars for ordering new bank notes,” said Gondwe.

Nissan Malawi Launches New Nissan Navara

Nissan Malawi is living up to its billing of being an innovation that excites its customers. The company is launching an exciting Nissan Navara modelon Thursday in Blantyre.

 

The event will take place at the Nissan’s showroom opposite Wenela bus depot in Blantyre.  

 

Nissan Navara got its name from the ]]>Navarre]]> region of northern Spain. And the new model has been labeled as rugged and redefined.

National Bank Rates Malawi’s Economic Outlook A Mix-Bag

National Bank of Malawi (NBM) has rated the country’s economic outlook as mixed despite the improvements registered in some key macroeconomic fundamentals.

NBM Chief Executive Officer, Macfussy Kawawa told the local media that there is need to exercise caution although some economic drivers are showing signs of stability.

In the past 10 months, inflation has been decelerating, hitting single digit at 9.3 percent in August and further going down to 8.4 percent in September.

World Economic Forum (WEF) Says Income Opportunity Declines

World Economic Forum (WEF) says opportunity to earn income slowed in 2017, with statistics showing the country’s economic participation has tumbled 73 places to 85 out of 144 economies.

 

Last year same period, the country was ranked 12 out of 144 economies, according to the WEF Global Gender Gap Report 2017. 

 

WEF report states that the country did well on labour force participation (1), estimated income earned (15) and wage equality for similar work (73).

 

Parliament Wants Malawian Companies To Transport Fuel

Parliamentary committee on Commissions Statutory Authority and State Enterprises has asked National Oil Company of Malawi (NOCMA) to ensure that 50 percent of the business of transporting oil into Malawi goes to locally owned companies.

 

Currently, it is estimated that 75 per cent of the transporters are from foreign countries, mainly Tanzania, with the remaining quarter from Malawi.

 

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