It does not get sweeter than the news that Saud Arabia is destined to sign $533 Million (about K906 billion at current exchange rate) worth of agreements with African countries, including Malawi on the sidelines of the Saudi-Africa Summit.
Saudi Finance Minister Mohammed Al-Jadaan revealed this today when he opened the Saudi-Arab-African Economic Conference in the kingdom’s capital, Riyadh ahead of the First Saudi-Africa Summit tomorrow.
Malawi and other African countries are set to sign different muti-billion dollar agreements with Saudi Arabia through the Saudi Fund for Development (SFD).
Discussions at the first Saudi-Africa Summit will revolve around supporting joint plans of action, enhancing political coordination, addressing regional security threats, facilitating economic transformation through research and the local development of new energy solutions, all while bolstering cross-sectoral investment.
The High Court in Lilongwe through Judge Mzondi Mvula has on Thursday turned down a bail application for Lester Maganga in a case in which he is being accused of murdering Coca-Cola Beverages Sales Manager Alan Wittika.
In court, Justice Mvula observed that there is a need to allow the State to exhaust its investigations within the 90 days from the day Maganga was arrested as permitted by the law.
“It has been argued that the accused is well travelled, well connected with ‘the powers that be’ which he can use to interfere with the witnesses and investigation processes,” said Mvula.
Maganga
He finalised reading his ruling with a clear order, saying: “Let it be known that I shall remand in custody Lester Maganga on these terms. That’s my order!”
Last month, Maganga through his lawyer Innocent Kubwalo submitted a bail application saying the suspect has the right to it regardless of what crime he is being suspected to have committed.
However, the development means that Maganga will continue to be at Maula prison where he has been remanded up until after 90 days when the court says he could then be eligible for bail after applications.
The court has since advised the state to conclude its investigations of the matter by 23rd January, 2024 as the resumption of the hearing of the case is slated for 26th January, 2024.
NBS Bank has said it is committed to supporting the primary school feeding program because it believes the program can accelerate primary school education in the country.
NBS Bank Head of Marketing and Customer Experience Tamanda Ng’ombe said in a statement that the Bank committed K20 million towards Mary’s Meals’ school feeding programme for four years because among other things, the program will help to keep children in school.
Tamanda Ng’ombe
“The dropout rate and absenteeism of school pupils reduces significantly whilst the pass rate rises when a meal is provided because it increases their concentration in the classroom,” said Ng’ombe.
Speaking recently during the commemoration of World Porridge Day in Blantyre, Mary Meals, Head of Strategic Partnerships and Communications Mona Lisa Bandawe said the organization recognizes the magic in a cup of porridge, especially to children.
“That cup of porridge changes the children’s lives, especially in rural areas and those in urban areas but are hungry every day. When they have that cup of porridge it makes them active in class, and also gives them the energy to do their work.”
“Mary Meals Malawi is currently feeding over one million children, but with other partners, we are reaching up to 40 percent of school-going children which means 60 percent of children in Malawi still need to be reached with food at school,” said Bandawe.
In his remarks, Blantyre City South Constituency member of parliament Noel Lipipa asked those interested in funding school feeding programs to join hands with Mary Meals.
“We don’t need to have many school feeding programs, Mary Meals has demonstrated to us as Malawians that they can effectively handle this program,” said Lipipa.
Standard Eight learner at the school, Astice Banda, thanked Mary Meals for the feeding program.
“This cup of porridge has helped so many learners that used to abscond classes because they were hungry,” she said.
World Porridge Day was established by Mary Meals in 2009 and is celebrated annually on October 10.
Malawi President Dr Lazarus McCarthy Chakwera has arrived in Riyadh, Saudi Arabia through King Khalid International Airport, ahead of the Saudi-Africa Summit to be held on Friday, November 10, 2023.
Upon his arrival, President Lazarus Chakwera was welcomed by Hon Nancy Tembo, Malawi’ Minister of Foreign Affairs, the country’s Ambassador to Kuwait and responsible for Middle East Younos Abdul Karim and senior Saudi government officials.
Chakwera in Saudi Arabia
Key among the engagements of President Chakwera in Saudi Arabia will be to witness the signing of a financial agreement for the construction of the Mangochi-Makanjira Road and holding meetings with fertilizer manufacturing and oil companies among other bilateral talks.
Chakwera left Malawi on Wednesday via Kamuzu International Airport.
Democratic Progressive Party National Governing Council (NGC) Senior member Hon Ken Msonda has backed the Malawi Government decision of pelting 44 % devaluation on the kwacha.
In a exclusive interview, Msonda said the truth is that the current devaluation has nothing to do with the current President Dr Lazarus Chakwera.
The kwacha devaluation has nothing to do with chakwera as a head of state.
“It is a global economic crisis; international economic hit men are behind it. Many African nations, especially poor nations have devalued currencies. At the moment African nations are in the process of agreeing to trade in their local currencies among African nations using AfrixBank,” he said.
He said Russia is in the forefront funding AfrixBank with billions of dollars and encouraging African nations to trade in their local currencies among themselves using this bank.
He said what is currently happening is an international monetary war between USA, UK, NATO on one hand and Russia, China, Arab nations on the other hand.
“Russia/Ukraine and now Israel/Hamas wars are just the beginning of more problems for poor African nations, Malawi inclusive,” he said.
Msonda said Malawi shall be the worst victim in this case because the country imports too much and exports too little besides depending too much on IMF, World Bank and other western and European countries for budget support and aid.
Reserve Bank of Malawi finally endorsed the exchange rate of K1,700 to a United States Dollar. The new exchange rate is with effect from today 9th November 2023, according to RBM Governor, Dr. Wilson Banda, who issued a statement Wednesday..
The Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has been relentlessly calling for devaluation aimed at re-aligning the Kwacha. The MCCCI repeated this call a few days ago cautioning that there should, as a requisite condition, be a guarantee of forex in-flows and safety nets to cushion the poor.
The key strategy in cushioning the poor is to ensure that staple food prices remain contained.
