Kwacha devalued by 44 percent!
The Reserve Bank of Malawi has devalued the Malawi kwacha from its official selling rate of K1180 to K1700. The Bank recently rejected insinuations of devaluation. This means the cost of...
Category: Financial
Steenkamp arrest in Malawi: a fugitive with K24 billion cash
…a dozen accounts frozen with billions kwacha …on Interpol list, bought Malawi passport …wants ECO Bank Managers jailed Malawi is a crime scene, but the impunity at the Immigration Department...
Forex cartels loot K336 billion a year
…K18bn externalised in April by Chinese …338 cards ladies was deal gone sour ..Prophet, Sheikh, Chinese, Politicians all part of it Over K10 billion worth of foreign exchange is externalised...
Nyasa Manufacturing owner probe could dent Malawis’ image
...RBM, FIA risks Malawis blacklisting The laxity by the Financial Intelligence Agency (FIA) and Reserve Bank of Malawi (RBM) to probe funds used to procure 50 percent stake in Nyasa Manufacturing...
Brace for more hard times-IMF
....Gwengwes hopes misplaced, clueless Hours after Finance Minister Sosten Gwengwe told local media that he hopes for a rebound of the economy, the International Monetary Fund (IMF) has said the...
Kwacha will devalue, high cost, Kabambe, Mwanamvekha
Former Reserve Bank Governor Dalitso Kabambe and former Finance Minitser Joseph Mwanamvekha has torn apart foreign exchange auctions announced by the Central Bank, saying it will lead to devaluation...