Standard Bank - BOL to Wallet

Cassim Aubi

Cassim Aubi

The Executive Board of the International Monetary Fund will on 15th of November 2023 meet to decide on whether to approve US174 million Extended Credit Facility (ECF) for Malawi, weeks after local authorities and IMF staff reached a staff level agreement.

Some youth groups operating under Sexual Reproductive, Maternal, Neonatal, Child and Adolescent (SRMNCAN) Youth Platform have called for re-alignment of national budget indicators as well as budget lines to allow the youth to effectively participate in budget and policy processes in the country.

Malawian Author Professor Malango Chinthenga, a lecturer at Hebron University in Lilongwe has launched his book  “Africa Magufuli and Change”, in Mwanza and Dar es Salaam Tanzania respectively.

The launch in Tanzania follows similar event held in Lilongwe in June this year.

Speaking to Zodiak Online after the two launches, Professor Chinthenga said expressed gratitude with the support he received during the launch, and the interest the book has received there.

He said that he sold over 400 copies on the two launches, and he received several requests that it should be translated into Swahili, a thing he says he is already working on.

The book discusses former Tanzania President John Pombe Magufuli who confronted neocolonialism.

“First we launched the book at St. Augustine University in Mwanza on August 5, before the second launch at Mwalimu Julius Nyerere International Convention Center in Dar es Salaam days later. I am very happy with the overwhelming response and support,” said Chinthenga.

He added; “As demonstrated by Magufuli, Africa has the capacity and resources to develop at the same pace, if not faster than its colonial masters who continually want to keep it as slaves. This motivated me to write this book”.

According to Prof. Chinthenga, the book will soon be translated into Tanzania’s national languages Kishwahili, as requested by many Tanzanians and people from other East African countries.

While in Tanzania, the Author visited late John Pombe Magufuli’s mausoleum and had an interface with late Magufuli’s wife Janeth Magufuli.

The governments of Malawi and Tanzania have high hopes that the Songwe Hydro Power Plant they intend to jointly establish at the Lower Songwe River will boost their economic activities.

The neighbouring countries signed two Memorandums of Understanding to improve their energy sectors during a recent meeting of high-profile officials who met in the Tanzanian commercial city Dar es Salaam.

First, the Electricity Supply Corporation of Malawi (ESCOM) and Tanzania's electricity company TANESCO signed an inter utility agreement for power trade.

This agreement, which was signed by ESCOM’s Chief Executive Officer Kamkwamba Kumwenda and his TANESCO counterpart Maharage Chande, will see the construction of transmission lines from Nkhoma in Lilongwe to Songwe for a power interconnection between the two countries.

The other agreement, signed between Malawi's minister of energy Ibrahim Matola and his Tanzanian counterpart January Makamba, worth $761 million is on an intergovernmental pact for collaboration of the two countries on the Songwe Hydropower and Malawi Tanzania Interconnector Project.

Matola said the projects, once completed, will help attract investors since they will be assured of stable power supply, thereby creating job opportunities for the citizens of Malawi.

“More investors will be interested to open their businesses in the northern part of Malawi, this will also create jobs for our people,” said Matola.

The Malawi energy minister said signing of the deals is a follow-up to engagements by heads of state from the two nations who recently had exchange visits.

“One of the key topics at the forefront of these discussions was the construction of the momentous Songwe Dam, a multi-purpose project that holds immense potential for both nations,” added Matola.

He also said the benefits of this energy cooperation extend beyond the boundaries of the two nations and that the impact will be felt throughout the region as it will contribute to the overall stability and progress of East Africa and South Africa through the Eastern African Power and Southern African Power Pool.

Makamba said that the MoUs gives direction and clear roadmap for the projects.

“The MoUs spell out the next steps... one is the formation of joint technical teams. Within one month, each country should appoint a team to start to work on implementation,” he said.

Other than the deals in the pipeline with Tanzania, Malawi also has an agreement to tap power from Mozambique.

That deal was launched by President Lazarus Chakwera and his Mozambican counterpart Filipe Nyusi in April 2022.

As climate change continues to impact negatively on farming in the country with most traditional cash crops not giving desired results, experts have been suggesting the need to promote other crops as a way of filling the gap.

A book titled Africa Magufuli and Change by a Malawian, Professor Malango Chinthenga, has attracted the interest of most East African countries including Tanzania and Kenya with the Tanzanians willing to have it translated into Kiswahiri. 

Malawi Kwacha Depreciates

Results of a foreign exchange auction hosted by the Reserve Bank of Malawi on June 19 have pushed the maximum selling price of USD1 to MWK1, 063.86 from MWK1, 036 effective Wednesday June 21st 2023.

A project on biogas and solar by a local firm, High Impel Energy Company, an arm of Nyasa Engineering Consultancy Limited has been selected as the best in the 2023 Fifth African Science, Technology and Innovation Forum held recently.

Shareholders of Salima Sugar Company Limited, which is under the Greenbelt Authority, have appointed a new board to oversee the operations of the company.

The hospitality industry is associated with peace and calm and fun. It is in the hotels and lodges where life is associated with tranquility and enjoyment – a near taste of the world hereafter.

The hospitality industry is largely associated with smiles, good food and happiness. But in this special assignment I find that behind all that sophistication, pomp and apparent sacred hospitality services, there are women in tears: tears of payments under the minimum wage; tears of sexual harassment perpetuated by both bosses and male guests.

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