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NBS Bank commits to school feeding programme

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By Linda Kwanjana

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.

Chakwera arrives safely in Saud Arabia

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By Linda Kwanjana

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.

DPP says Kwacha devaluation has nothing to do with the current leadership but a global issue

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By Linda Kwanjana


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.

Former RBM Governor Dalitso Kabambe trashes Wednesday’s 44% Kwacha devaluation

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By Chisomo Phiri

Former Reserve Bank of Malawi Governor Dalitso Kabambe has described Wednesday’s 44 percent Malawi Kwacha devaluation as reckless.

According to Kabambe, there will be no recovery from the macroeconomic meltdown in the aftermath of the devaluation.

Kabambe



He says the devaluation will only make the suffering experienced by Malawians worse, as prices of basic goods and services such as fuel, fertilizer and food items will soar.

Kabambe says looking at the timing of the devaluation, it must be a prior conditionality for International Monetary Fund (IMF) Extended Credit Facility (ECF).

“Since K1,700 per dollar is still below the market equilibrium, we should anticipate further depreciations,” says Kabambe.

According to former RBM governor, Malawians should expect further depreciations of the kwacha as the K1 700 to a dollar exchange rate is still below the “market equilibrium”.

“Furthermore, the devaluation is reckless as the previous one given that the fundamentals of the monetary policy remain helpless and the fiscal consolidation non-existent,”adds Kabambe.

In a statement on Wednesday night, RBM Governor Wilson Banda said the 44 percent devaluation follows the imbalances as well as the mismatch in the exchange rate in cash and telegraphic transfer.

The kwacha was also devalued by 25 percent in May 2022 and since January this year, the local unit has depreciated by 13.1 percent.

Former ruling DPP cancels Masintha rally over Poppy Day commemoration

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By Chisomo Phiri

The former ruling Democratic Progressive Party (DPP) has cancelled the political rally that was scheduled for this Sunday at Masintha Ground in Lilongwe.

In a statement, the party’s spokesperson Shadric Namalomba says the rally has been postponed until further notice to allow its members join all Malawians in commemorating Remembrance Day, which falls on November 11 every year.

“To the war veterans living, we thank, salute and wish you good health and long life. To the fallen heroes may their souls rest in eternal peace,”says Namalomba in a statement.

Namalomba



The party’s president Arthur Peter Mutharika left the country last week through Chileka International Airport in Blantyre on a private trip accompanied by former first lady Gertrude Mutharika, but details of their trip have remained confidential.

Commonwealth member States commemorate Remembrance Day (Poppy Day) each year to honour those who volunteered, sacrificed, served, fought and died for freedom during the First and Second Wars.