Reserve Bank of Malawi Governor Wilson Banda says the growth of the country’s Gross Domestic Product is still hovering around 1.9 percent this year due to economic shocks such as cyclones, dry spells and the effects of the Russia – Ukraine War that the country is experiencing.
Banda made the remarks in Lilongwe during a press briefing on the current economic situation of the country.
Banda said the non-food inflation rate is going down but food inflation is gradually increasing as a result of maize scarcity on the market.
RBM Governor Wilson Banda
The governor disclosed that the institution has put in measures to ensure that the economy is on track.
Banda believes the country is managing the monetary and fiscal policy well based on the first review of the International Monetary Fund (IMF).
He highlighted that the IMF team will be coming to the country in September for the second review to asses how the country has performed and is optimistic that the country is on course to get an Extended Credit Facility once the second review is done.
Parliament has on Wednesday confirmed the appointment of Thomas Makiwa as new Auditor General (AG).
President Lazarus Chakwera appointed Makiwa last week as substantive Auditor General (AG), subject to Parliament’s confirmation.
Makiwa, a certified chartered accountant, has been acting on the position for the past five years.
Thomas Makiwa
The new AG received support from both sides of the House, including the Public Appointments Committee through a report presented by its Chairperson Joyce Chitsulo.
According to Finance Minister Sosten Gwengwe, Makiwa was born on January 4, 1977 and comes from Shuga Village in the area of Traditional Authority Kalembo in Balaka District.
Makiwa begun his education at St Paul the Apostle Seminary in Mangochi, thereafter he was selected to the University of Malawi at the then Polytechnic, where he graduated in 2001 with a Bachelor of Accountancy degree with a Credit.
In 2010, the Government of Malawi sent him to Coventry University in the United Kingdom where he successfully obtained a Master of Science in Finance with a distinction.
Minister of Information Moses Kunkuyu has said that the National Oil Company of Malawi (NOCMA) has secured USD 50 million for the importation of fuel in the country
Speaking on Wednesday during a joint press briefing with NOCMA and MERA in Lilongwe, Kunkuyu said the Government is now working around the clock to ensure uninterrupted fuel supply in the country.
The minister said diesel availability in most filling stations is now stabilizing and that currently, over 3 million litres of both diesel and petrol have been procured representing two days’ cover.
Kunkuyu added that over 7 million litres of fuel will be in the country over the weekend.
He further assured Malawians that the government is exploring other routes for the timely arrival of fuel into the country.
However, the minister disclosed that fuel scarcity in the country has been exacerbated by $800 (about K867.8 billion) which the DPP-led Government borrowed from Afrixem Bank.
Kunkuyu claimed that this year alone the Tonse Alliance led administration has paid back $100 million to the bank.
“As at June this year, the country owed Afreximbank about $757 million (about K784 billion) in foreign debt and about $145 million (about K150.2 billion)was owed to Trade and Development Bank, along with millions of arrears.
“In total, Malawi’s public debt stood at K7.9 trillion as at December 2022, with K4.43 trillion domestic debt and K3.47 trillion, external debt,” he said.
Meanwhile, the minister said the current administration is repaying the loan a development he said is draining the country’s forex.
The East Bridge deal, marred by the recent failure of the fertilizer agreement between the Malawi government and a Romanian company, serves as an unadulterated reminder of the key role that effective public relations (PR) plays in shaping the outcome of such transactions.
The collapse of the fertilizer deal can be attributed, in part, to a profound breakdown in communication and information dissemination, leading to what can only be described as an “information miscarriage.” In today’s interconnected world, where information travels at the speed of light and perceptions are formed in a matter of seconds, the significance of a well-crafted and strategic PR campaign cannot be overstated.
The failure of the East Bridge deal is proof to the fact that even the most lucrative pacts can crumble if not accompanied by a robust communication strategy that aims to not only inform but also to persuade, reassure, and build trust.
The fertilizer deal’s demise highlights the need for transparent and honest communication from the outset. Had the Malawi government and the Romanian company proactively engaged in sharing accurate and comprehensive information about the agreement, its potential benefits, and the steps being taken to ensure its success, they could have mitigated concerns and cultivated a sense of confidence among stakeholders.
A lack of clarity and openness allowed doubts and misinformation to seep in, eroding the foundation of trust upon which such deals rest. Moreover, the episode underscores the importance of adapting PR efforts to the cultural, social, and economic context of the parties involved.
In an era where public sentimentality can influence political decisions and business outcomes, tailoring PR campaigns to reverberate with the values and desires of the local population is critical. This customization could have helped the public see beyond the initial skepticism and understand the potential long-term gains of the East Bridge deal. From the bird’s eye view, the failure of the fertilizer deal within the East Bridge agreement serves as a poignant lesson on the central role of PR in shaping the success or failure of complex agreements.
A carefully crafted PR strategy, based on transparent communication, cultural understanding and a commitment to building trust, could have steered the deal toward a more favourable outcome.
As future negotiations unfold, it is imperious that the parties involved recognise the power of good PR as a catalyst for nurturing understanding, garnering support, and ensuring the prosperous realisation of their common objectives.
Chitipa United Football Club has appointed Prophet Shepherd Bushiri’s spokesperson Ephraim Nyondo as the team’s resource mobilisation officer.
The club made the announcement on Wednesday evening saying the former Nation Publications Editor will be heading the department of sourcing out resources for the team.
Chitipa is currently in position four on the TNM Super League log table and has so far won all the games played at home this season.
