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CENTRAL AFRICA Malawi: Kwacha devaluation causes panic[Gregory Gondwe] The government's decision to devalue the local currency, the Malawi Kwacha, last week has sparked fears that it might affect interest and inflation rates. 20 Nov 2009 11:54 CENTRAL AFRICA FNB officially launches Zambia operation
CENTRAL AFRICA Malawi starts exporting uranium
CENTRAL AFRICA Air Malawi's survival dependant on public[Gregory Gondwe] Air Malawi CEO Wisdom Mchungula has confessed that the debt-riddled airliner is surviving by the mercy of Malawian public. The CEO made these confessions in the presence of the Malawi Parliamentary Committee on Budget and Finance in Lilongwe last week. 15 Oct 2009 10:37 CENTRAL AFRICA Reserve Bank of Malawi appoints new governor[Gregory Gondwe] President Bingu wa Mutharika, on Monday, 14 September 2009, appointed a new govener of the country's reserve bank. Dr. Perks Ligoya, who was director of economics in the finance ministry and initially worked at the central bank for 20 years, has already accepted the challenge. 16 Sep 2009 10:11 CENTRAL AFRICA President Mutharika expels four tobacco buyers[Gregory Gondwe] President Bingu wa Mutharika, early last week, deported four tobacco buyers for allegedly conniving to sabotage the Malawi economy. 15 Sep 2009 07:33 CENTRAL AFRICA Malawi: Bata Shoe Company turns 115[Gregory Gondwe] The Bata Shoe Company is celebrating its over 115 year survival in the business of making footwear by refurbishing its 32 shops across Malawi - a venture that will cost K50 million. 8 Sep 2009 07:04 CENTRAL AFRICA Malawi establishes credit reference bureau[Gregory Gondwe] The Bankers Association of Malawi (BAM) has joined hands with Kenyan-based CRB-Africa to form the first of its kind Credit Reference Bureau (CRB-Malawi). BAM President George Partridge who is also the country's CEO for Malawi's largest bank by assets, the National Bank of Malawi (NBM) said the bureau would help commercial banks stop wasting time and resources trying to establish history of customers. 14 Aug 2009 09:19 CENTRAL AFRICA K4bn tobacco company opens in Lilongwe[Gregory Gondwe] Kanengo Tobacco Processing Ltd (KTPL) has opened its doors in Lilongwe, Malawi with an investment of K4bn, becoming the country's third largest tobacco processing company after Limbe Leaf Tobacco Company and Alliance One Tobacco. 13 Aug 2009 08:26 CENTRAL AFRICA Malawi clamps down on illegal currency dealers[Gregory Gondwe] As a shortage of foreign currency threatens to derail Malawi's economic growth, authorities have clamped down on illegal dealers of foreign currency with the court fining a Chinese national who was caught trying to smuggle out thousands of US dollars and arresting two local businessmen found in possession of fake foreign currencies. 11 Aug 2009 10:11 CENTRAL AFRICA Central Bank whips on forex bureaus[Gregory Gondwe] As Malawi is still struggling to get enough foreign currency on the market, its central bank, the Reserve Bank of Malawi (RBM) has unleashed its latest whip on forex bureaus for what it called non-compliance to rules set in the Exchange Control Regulations 2007. 6 Aug 2009 10:14 CENTRAL AFRICA Old Mutual jerks Masi into motion[Gregory Gondwe] Old Mutual, the sole foreign counter in the Malawi Stock Exchange (MSE), last week, jerked the Malawi All Share Index (Masi) into motion after months of inaction moving it upwards to 4954.28 points from 4952.11 representing a 2.17 points push. 3 Aug 2009 09:40 CENTRAL AFRICA Malawi to receive US$80m IMF funds as economic cushion[Gregory Gondwe] Malawi's resident representative for the International Monetary Fund (IMF) Maitland Macfarlan announced last week that Malawi will benefit from the body's rescue plan, to help countries fend off the world economic crisis. 31 Jul 2009 10:40 Latest jobs | Ad showcase |
LUSAKA: First National Bank announced yesterday, 27 October 2009, the launch of its Zambia operation. The operation was officially opened by the president of Zambia, President Rupiah Banda. The company's banking license was issued on 25 November 2008. 
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