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Banking / Investment in Malawi

  • Reserve Bank of Malawi Cuts Key Lending Rate to 18 Percent - Economy Fast Gaining Ground

    MALAWI, 2017/07/07 Reserve Bank of Malawi (RBM) said on Wednesday July 5 2017 it has cut the benchmark lending rate by 400 basis points to 18 % as consumer price inflation slows. Malawi's consumer inflation slowed to 12.3 % year-on-year in May from 14.6 % in April, the statistics agency said last month. RBM has projected inflation rates of 10.7 % and 8.5 % in June and December 2017 respectively.

  • IFC Supports Increased Access to Finance for Malawian Businesses With Collateral Registry

    MALAWI, 2016/02/08 IFC, a member of the World Bank Group, said today it helped establish an electronic registry for movable collateral in Malawi, as part of an in general effort by the government of Malawi and the World Bank Group to promote access to finance for micro, small and medium-sized enterprises to foster inclusive economic increase. The collateral registry was officially launched in Lilongwe today, and will allow for the use of movable assets such as vehicles, machinery, livestock, inventory, and accounts receivables, as collateral for loans. This will increase the financing options for the small-scale business sector and individuals that lack traditional collateral such as land and buildings to access credit.

  • East Africa: Regional Microfinance Institutions Advised to Apply for Observer Status

    DJIBOUTI CITY, 2015/01/04 Regional microfinance institutions are poised to benefit from regional integration, if they apply for an observer status at the East African community secretariat, Innocent Safari, the permanent secretary, Ministry of East Africa community affairs has said. The advice follows plans by sector players to move towards integrating legal and regulatory frameworks during the recently concluded microfinance CEO's summit in Kigali. During the summit, top micro finance managers resolved to explore ways in which laws, regulations and supervisory frameworks governing the sector can be harmonised to enhance cross-border business.

  • Malawi's banks operating in the country have been blamed

    MALAWI, 2013/10/26 Some banks operating in the country have been blamed for heavily contributing to the Capital Hill Cash-gate scandal because they failed to statement dubious bank transactions in some of their bank accounts. Failure by these banks to statement to Financial Intelligence Unit (FIU) on transactions of over K1 billion connected to the scandal, may have led to failure by authorities to notice and act on the transactions. These were the remarks of the newly appointed Minister of Justice and Constitutional Affairs Fahad Assani to journalists next making his statement in parliament Wednesday afternoon.
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