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Banking / Investment in Malawi

  • Africa's last international banks make their stand

    BOTSWANA, 2017/10/31 On June 1, 2017, Barclays sold a 33.7% stake in its African business, Barclays Africa Group Limited (BAGL). The transaction reduced the UK lender’s stake in its African offshoot to 14.9% and permitted, in accounting terms, the deconsolidation of BAGL from its parent. Additional symbolically, it brought to an end Barclays’ operations on the continent next additional than 100 years. The rise of Africa’s home-grown financial players has led most international lenders to withdraw from the continent. However, Société Générale and Standard Chartered are not only staying put but marking territory for digital expansion. James King reports.
  • Why governments need to support the financial sector to meet the unserved needs of smallholder farmers

    BOTSWANA, 2017/09/09 This year, under the leadership of H.E. President Alassane Ouattara and the theme of “Accelerating Africa’s Path to Prosperity: Growing Inclusive Economies and Jobs through Agriculture”, the African Green Revolution Forum (AGRF) 2017 is shaping up as a premier platform to showcase ongoing evolution in Africa’s agricultural transformation schedule and to scale up the political, policy, and financial commitments needed to achieve the Malabo Declaration and the world development schedule around the Sustainable Development Goals (SDGs). Following the launch of the landmark annual Africa Agriculture Status Statement (ASSR) at the AGRF taking place in Cote d’Ivoire from 4-8 September 2017, the major conclusion centres around the power of entrepreneurs and the free market in driving Africa’s economic increase from food production. This is owing to the fact that a lot of businesses are waking up to opportunities of a rapidly growing food market in Africa that may be worth additional than $1 trillion each year by 2030 to substitute imports with high price food made in Africa.
  • 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.