Malawi announces devaluation of Kwacha by 25pc
The Reserve Bank of Malawi has announced a 25 percent devaluation of the Malawi Kwacha effective May 27th, 2022 to align to around the marker clearing level.
Business
Zimbabwe’s inflation rate hit 131.7% in May, rise attributed to war in Ukraine
Zimbabwe's inflation rate hit 131.7% in May, the statistics office said on Wednesday, as the aftermath of war in Ukraine hit an already struggling economy.
Malawi, Rwanda agree to work together in boosting trade
President Lazarus Chakwera and President Paul Kagame of Rwanda have agreed to work together in boosting trade between Malawi and Rwanda.
Livingstonia synod calls for abolishment of Malawi’s AIP program
The Church and Society Program in the CCAP Synod of Livingstonia has called on Malawians to consider abolishing Affordable Farm Input Subsidy Program which is proven to be a failure.
African Development Bank allocates $1,5bn to deal with food crisis
The African Development Bank (AfDB) has approved a $1.5 billion emergency program to mitigate the impact of worsening food insecurity resulting from the war in Ukraine.
Pravin Gordhan lays out critical issues affecting Eskom
Public Enterprises Minister Pravin Gordhan said Eskom's poor power generation performance deserved urgent attention, adding that sabotage and legacy maintenance issues remained a concern for the company.
Tencent among big losers as global markets slump sparking recession fears
Global markets took a hit on Thursday after Wall Street suffered one of its worst hits in two years amid fears of a recession following decades of inflation.
Kenya Airways suspends ticket services in Malawi due to forex crisis
Kenya Airways has suspended ticket sales for all travel agencies in Malawi barely a day after Ethiopian Airlines did the same.
South African Reserve Bank expected to increase repo rate
South African Reserve Bank Governor Lesetja Kganyago is expected to raise the repo rate on Thursday afternoon, with the only question being by how much.
World Bank allocate $12 billion to resolve global food security crisis
The World Bank on Wednesday announced $12 billion in additional funding for projects aimed at addressing the global food security crisis, bringing the total to $30 billion.
