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.

 

Blackouts To Impact On Sugar Productivity

Illovo Sugar (Malawi) Limited is expecting low sugar output for the year ending August 2018 due to, among other factors, the continued power outages the country is experiencing.

 

Illovo raised the concerns in a published audited financial statements for the five-month period ending August 31 2017, citing climatic conditions as among conditions to affect sugar out put in the coming year.

 

 The Malawi Stock Exchange (MSE)-listed company noted that its cane growth is being impacted by the continued blackouts as it is failing to pump water for crop irrigation.

Auction Holdings And Land O’ Lakes In K1.2 Billion Deal

AHL commodity exchange (AHCX) and Land O’ Lakes have entered into a $17 million (about K1.2 billion) Strengthening Inclusive Markets for Agriculture (Msika) project deal that will result in development of locally produced fruits and vegetables market.

 

Farmers in five districts of Lilongwe, Dedza, Mchinji, Ntcheu and Mangochi are expected to get support under the five-year project to produce and handle high quality fruits and vegetables for the local and international markets.

 

World Bank Ranks Malawi 110th On Doing Business Index

Malawi has been ranked 110th on the ease of doing business index, up from 133, World Bank Doing Business 2018 Report has revealed.

 

The report which was launched in Lilongwe on Wednesday indicates that Malawi has done well jumping 23 steps due to four reforms the country undertook.

 

Malawi was ranked 133 in 2017 by the World Bank.