The Malawi Communications Regulatory Authority (MACRA) says MultiChoice Malawi will resume providing DStv services in the country by this Friday.
In a statement signed by MACRA Director General, Daud Suleman, the development follows its meeting with Multichoice Malawi on Monday in Lilongwe.
Suleman
The statement says the two sides have agreed to resolve their dispute in a manner that balances the interests of either party and within the boundaries of the applicable law.
This comes a week after Information Minister Moses Kunkuyu ordered MACRA to withdraw its court case against MCA so that the issue should be resolved outside court.
MCA withdrew the DStv services in the country after the communications regulator stopped it from hiking subscription tariffs.
The International Monetary Fund (IMF) Deputy Managing Director Gita Gopinath has applauded President Dr. Lazarus Chakwera for the tough decisions taken to strengthen the Malawi’s economy.
Gopinath told journalists at Kamuzu Palace in Lilongwe after meeting Chakwera on Tuesday that the Fund is beginning to see progress and results from the decisions that Chakwera has made.
“I want to thank President Lazarus Chakwera, as well as the Minister of Finance and Economic Affairs, Mr. Sosten Gwengwe, and the Governor of the Reserve Bank, Dr. Wilson Banda for the productive exchange of views and warm hospitality, “said Gopinath.
Gita Gopinath with President Chakwera
She said the reform momentum must continue and that this will form part of the discussion that the IMF team will have with Malawi next week.
Gopinath said the IMF staff and management are fully committed to supporting Malawi during the transformation.
“We discussed the economic and developmental prospects for Malawi.
“I commended the authorities’ efforts under the Staff-Monitored Program with Executive Board Involvement (PMB) to restore macroeconomic stability, which will set the stage for stronger durable growth and poverty reduction. Macroeconomic adjustment and reforms are gaining traction and it would be important to maintain the momentum in the period ahead.
“We also discussed the policies that would be necessary to solidify the country’s hard-won gains. Securing a debt treatment would be vital for macroeconomic stability and ensure that additional financing could be used to address Malawi’s pressing developmental challenges. Moreover, strengthening fiscal discipline and addressing weaknesses in governance remain essential”, she said.
She added :“The close engagement between Malawi’s economic team and IMF staff in the context of the second review of the PMB is welcome, as is the authorities’ request for an arrangement under the Extended Credit Facility. IMF staff and management will continue to offer their strong support to the authorities’ efforts to stabilize the economy.”
On his part, President Chakwera said :”We appreciate the trust IMF has placed in our administration based on the tough and bold decisions we have taken to resuscitate the economy.
“The multilateral development bank has assured us of its commitment to help us find solutions to current economic challenges and attainment of satisfactory credit sustainability.
Chakwera said he has assured the IMF team that his administration remains determined and focused to grow the economy and build sustainable communities in line with the Malawi Vision 2063 agenda.
He said he remains hopeful that the discussions the IMF mission is undertaking with the Reserve Bank of Malawi (RBM) and the Ministry of Finance will progress into clarity of a new Extended Credit Facility.
Currently, Malawi which is under the Staff Monitored Programme with Executive Board Involvement (PMB) that was approved in November 2022, is hoping to graduate to an upper credit tranche before the end of the year.
International author and renowned Malawian poet Tendai M. Shaba says all is set for the release of his highly anticipated second book titled ‘A lady in A Yellow Dress’ on Tuesday 5th September
Currently, the book which has 200 pages is available in all the major book retailers worldwide.
The book continues to receive more support from various women in leadership in Malawi including Anti-Corruption Bureau (ACB) Director General Martha Chizuma, Edith Jiya (Group CEO Old Mutual), Zandile Shaba (Managing Director Centenary Bank)and Dr. Margaret Chaika, PhD Charity C. Mughogho (Bank Executive, Standard Bank Malawi).
The key theme in the book is to manifest emotional, mental and spiritual wellness.
It explores the significance of the color ‘yellow’ which is the color of healing and happiness.
The lady in the book signifies the feminine qualities of a woman and how she presents her thoughts and feelings.
To be launched in November this year, ‘A Lady in A Yellow Dress’ is a must read book, suitable for both adults and the youth (adolescents).
Malawi President Dr Lazarus Chakwera will on Tuesday meet International Monetary Fund (IMF) Deputy Director Ms Gita Gopinath.
A statement which the State House has released indicates that the two will hold discussions on various issues at Kamuzu Palace on Tuesday, 5th September 2023.
“Ms. Gita comes to Malawi to appreciate first hand the challenges facing the economy in the face of recent external shocks, as well as to hear directly from His Excellency about Malawi’s development priorities and reform programme that require support from the IMF.
“She will also hold discussions with officials from the Ministry of Finance and Economic Affairs and the Reserve Bank of Malawi on the Extended Credit Facility Programme. His Excellency warmly welcomes Ms. Gita’s visit to Malawi and the IMF’s commitment to Malawi’s economic progress that this high-level visit represents,” reads the statement.
Recently the IMF Board meeting in Washington approved Malawi’s First Review Under the Staff Monitored Programme with Executive Board Involvement, which was entered into last November.
The board’s approval follows an IMF Mission Team that visited Malawi between May 16 and 22 this year, which rated Malawi’s performance under the program based on end-December 2022 targets as mixed.
Finance Minister Sosten Gwengwe was quoted saying Malawi now awaits a second IMF assessment in September which would determine the country’s readiness for an Extended Credit Facility programme with the Fund.
The Executive Board of the International Monetary Fund (IMF) discussed the first review of the Staff-Monitored Program with Executive Board Involvement (PMB) for Malawi.
IMF acknowledged that Malawi has been affected by a series of shocks— including an outbreak of cholera and Cyclone Freddy, which caused significant loss of life and damage to infrastructure—since the approval of the PMB on November 11, 2022.
In this context, growth has been weaker and inflation higher than expected. The fiscal deficit in FY2022/23 (April/March) was larger than expected at the time of the PMB. Meanwhile, external strains—including shortage of foreign exchange, difficulties securing trade credit, and a widening spread between official and bureau exchange rates—have heightened.
Despite a sharp reduction in the current account deficit, accumulation of foreign exchange reserves has been slower than expected, implying an increase in informal trade.
Cyclone Freddy has weighed on the outlook for 2023 and led to a lower growth forecast and a higher inflation forecast. Key downside risks include slippages in program implementation, delays in the ongoing external debt restructuring process, and further external shocks.
Performance under the PMB has been mixed, but the authorities are addressing challenges and continue to commit to the PMB’s agreed macroeconomic adjustment path and policy reforms.
IMF says authorities are taking corrective actions necessary to demonstrate their capacity to implement the agreed macroeconomic adjustment and reforms, as well as to build the policy track record needed to support their prospective request for an Extended Credit Facility (ECF) arrangement.
“Steadfast implementation of and unwavering commitment to this Staff-Monitored Program with Executive Board Involvement (PMB) will be critical to restore macroeconomic stability and establish a track record to support a prospective request for an Extended Credit Facility (ECF) arrangement,” said the IMF.
One of the world’s leading conglomerate Coca-Cola Beverages Africa in Malawi is marking the one-year anniversary of its operations as a subsidiary of Coca-Cola Beverages Africa with the official change of the local entity’s name to Coca-Cola Beverages Malawi Ltd (CCBM) and notching up significant milestones, including a move to clear Sprite packaging which makes the bottles easier to recycle, and an investment in its glass bottle production line to increase capacity.
The move to Sprite clear is a precursor to the company ramping up its plastic waste collection and recycling efforts. Clear PET plastic bottles have a higher value as a recyclable material as they are easier to recycle than coloured packages.
The company has also refurbished its office in Lilongwe as a further investment in the business.
“CCBA’s strategic intent is to be the anchor bottler in each of the markets within its footprint,” said Seutloadi Thaanyane, managing director of CCBM.
“CCBA made a significant investment in Malawi through the purchase of the soft drinks beverages business from Castel (Southern Bottlers Limited) in 2022. We see a compelling long-term growth opportunity in Malawi that will benefit our business as well as consumers in this market.
“Our recent investments in increased production capacity and the refurbishment of our Lilongwe office further cement our commitment to growing our business and the local economy,” said Thaanyane.
Public Affairs, Communication and Sustainability Director Head: Reputation & Communication CCBA is the 8th largest Coca-Cola bottling partner in the world by revenue, and the largest on the continent.
It accounts for over 40% of all Coca-Cola products sold in Africa by volume. With over 17,000 employees in Africa, CCBA services more than 680,000 customers with a host of international and local brands.
The group was formed in July 2016 after the successful combination of the southern and east Africa bottling operations of the non-alcoholic ready-to-drink beverages businesses of The Coca-Cola Company, SABMiller plc and Gutsche Family Investments.
CCBA shareholders are currently: The Coca-Cola Company 66.5% and Gutsche Family Investments 33.5%. CCBA operates in 15 countries, including its six key markets of South Africa, Kenya, Ethiopia, Uganda, Mozambique and Namibia, as well as Tanzania, Botswana, Ghana, Zambia, the islands of Comoros and Mayotte, Eswatini, Lesotho, and Malawi.
