Saturday, October 1

Business

Business, National News

Provisional budget reveals MCP promises

By Nohakelha Phiri The provisional budget that has been presented to parliament on Tuesday by Finance Minister Felix Mlusu has raised some hope for a new Malawi as most of what the Malawi Congress Party (MCP) promises manifested in the budget. It is only three days President Chakwera was sworn in as president and a day after he appointed Minister of Finance Felix Mlusu, but the new government has already come up with a provisional budget which shows some of the promises been taken aboard. The provision budget is pegged at K722, 401,910, 780 which the minister asked parliament to authorize withdrawal from consolidated fund for the purpose of meeting expenditure necessary to carry on the services of the government from 1st July 2020 and 31st October2020 or until the appropriation A...
Business

Reserve Bank of Malawi refute night funds transfer claims

By Our Reporter The Reserve Bank of Malawi (RBM) has refuted social media claims that the Bank’s funds transfer systems were on June 26 not closed on the instruction from the Governor to an authorizer, BrendaMuyaya with an intention to abuse the system. According to the statement released on Sunday, the bank said on the said date, the Bank, in fulfilling its mandate of price stability, had roll over transactions whose value date was 26 June 2020. "These transactions had a foreign exchange (US Dollar) component as well as a Kwacha component. However, the transactions could only be completed after New York markets opened. This is the time when the Malawi Financial Markets close. "Therefore, to facilitate the closing of the transactions, the systems had to remain open. The funds ...
Business, Health

Airtel Malawi donates K104 million towards COVID-19.

By Shadrek Maoni: One of the leading telecommunications companies in the country, Airtel Malawi has on Monday donated K104 million to the Presidential COVID-19 Taskforce in Lilongwe. The donation is expected to help the Taskforce and the Ministry of Health and Population to procure oxygen Concentration ventilators to help those that are found positive. Speaking during a symbolic presentation of the donation, Airtel Malawi Managing Director Charles Kamoto said currently the numbers of those found positive of COVID-19 is becoming scaring and that's why as a company they feel obliged to continue supporting the cause of preventing and mitigating the pandemic in the country. Kamoto said apart from the donation that had been made the network service provider has been helping in sens...