The Martse Foundation has announced that it will donate desks to Embangweni Primary School on 25th September, 2024.
The handing over of the desks will be spiced up by musical performances from Wikise and Machuluka.
According to the Martse Foundation, the desks have been purchased from the proceeds made on the Martse Memorial show which was held at Civo Stadium in May this year.
Martse
The Martse Foundation previously donated desks to Chambu Primary School in Lilongwe and Cape Maclear Primary school in Mangochi where Martse lived the last days of his life.
The Martse Foundation was founded by the family of the late Hip-hop star ‘Martse’ to honour his dream of helping primary school learners with good learning environment.
Martse, real name Martin Njhata died on 23 May 2022 following a fire accident.
Mighty Mukuru Wanderers President and Board Chairperson, Thomson Mpinganjira has expressed satisfaction with the progress made so far on the renovation of Wanderers Club House in Blantyre.
Speaking after touring the Club House at Lali Lubani Road, Mpinganjira said applauded the contractor who was given the job to do the renovations saying has so far done a wonderful job.
“I took time to see for myself the progress being made. So far my impression is that the contractor has done an amazing job. A lot of things have changed and I am extremely happy with what is happening here,” said Mpinganjira.
Mpinganjira further said that the efforts the club is investing in are meant to restore old glory at Wanderers.
He said, “My visit is to see to it that our old glory is restored. Wanderers is the oldest club and used to be a vibrant brand, it deserves to reclaim its old status.”
Mighty Mukuru Wanderers embarked on a renovation project of its Club House early this year that has seen establishment of Wanderers Merchandise Shop, VIP Lounge and Restaurant among others.
According to the club, Phase 2 of the projet will commence soon and will involve renovation of the offices for secretariat,gym and a recreational center.
The Reserve bank Governor Dr Wilson Banda has issued a statement where he plays down the rumours that are making rounds saying the Kwacha is to be devalued again. He has since appealed to the general public to desist from creating and circulating false reports which bring about unwanted speculation, panic and uncertainty in the economy.
Earlier on ,they were reports that the International Monetary Fund (IMF) has issued a stern warning to the Malawian government, urging a 60% devaluation of the Kwacha or risk forfeiting the second tranche of the Extended Credit Facility (ECF).
According to sources, IMF Chief Kristalina Georgieva has written to Finance Minister Simplex Chithyola Banda, emphasizing the dire consequences of inaction.
IMF Chief Kristalina Georgieva
The letter, dated September 5, 2024, cautions that failure to devalue the Kwacha will plunge Malawi into a deep economic crisis, surpassing the severity of Zimbabwe’s economic meltdown a decade ago.
Georgieva’s warning has sent shockwaves through the financial sector, prompting an emergency meeting between government officials and the IMF.
After intense deliberations, the government has decided to heed the IMF’s advice, opting for a staggered devaluation approach.
A 40% devaluation is expected to be announced shortly, followed by an additional 20% devaluation next month.
This move aims to mitigate the impact on the economy while aligning with the IMF’s requirements.
The Kwacha’s value has been under pressure due to a combination of factors, including a widening trade deficit, dwindling foreign exchange reserves, and a decline in tobacco exports – Malawi’s primary foreign exchange earner.
The IMF’s intervention seeks to address these underlying issues and restore macroeconomic stability.
While the government’s decision has been met with mixed reactions, economists argue that devaluation is inevitable.
“The writing has been on the wall for some time now.
“The Kwacha’s overvaluation has made our exports uncompetitive, and the IMF’s warning is a wake-up call to address our economic vulnerabilities,” said Dr. William Mwanza, a renowned economist
However, concerns have been raised about the potential impact on inflation, which could rise significantly following the devaluation.
“The poor and vulnerable will bear the brunt of this decision.
“The government must implement measures to cushion the effects and ensure that the benefits of devaluation trickle down to the masses,” warned Dr. Mwanza.
As Malawi teeters on the brink of economic uncertainty, the IMF’s intervention has sparked a heated debate about the role of international institutions in shaping domestic economic policies.
While some argue that the IMF’s advice is necessary to avoid a crisis, others see it as an infringement on Malawi’s sovereignty.
In a statement, the Ministry of Finance acknowledged the IMF’s warning and assured the public that measures are being taken to minimize the impact of devaluation.
“We understand the concerns of our citizens and are working tirelessly to ensure a stable economic environment,” said Minister Banda.
As the nation waits with bated breath for the official announcement, one thing is clear – the Kwacha’s devaluation is a bitter pill that must be swallowed to avoid a catastrophic economic crisis.
The Reserve Bank has responded with a press statement that says the report circulating on social media that the IMF has written the Minister of Finance and Economic Affairs to devalue the Malawi Kwacha by 60% is false and should be ignored.
Through a statement released and signed by Governor Dr. Wilson Banda, there are no plans to devalue the Malawi Kwacha.
“The general public is reminded to look up for information on matters of monetary policy from the Reserve Bank of Malawi,” Banda said.
Officials at the National Oil Company of Malawi (NOCMA) are optimistic that the resumption of the Sena rail corridor that connects Malawi to the Mozambican Port of Beira, will significantly reduce fuel transportation costs in the country.
NOCMA Chief Executive Officer(CEO) Clement Kanyama, expressed this optimism on Wednesday during the arrival of a train loaded with 1.2 million liters of fuel at Marka Railway Station in Nsanje district.
According to Kanyama, the resumption of the rail corridor will substantially decrease the number of days required to transport petroleum products into the country.
“This development is expected to have a positive impact on the country’s fuel transportation costs and overall economy,”he said.
However, Minister of Transport and Public Works, Jacob Hara, acknowledged delays in the rehabilitation of the 72-kilometer long Marka-Bangula rail section.
He cited that the Public Procurement and Disposal of Assets(PPDA) is yet to approve the proposed cost adjustment for the project.
Sena rail corridor had been inactive for 41 years.
State President Dr. Lazarus McCarthy Chakwera, President of Malawi, has commissioned Osiyana Rural Hospital in Traditional Authority Mlolo, Nsanje.
The President has been in Lowershire for official duties, accompanied by First Lady Madame Monica Chakwera.
Upon arrival, he was met by Minister of Health Khumbize Kandodo Chiponda, Nsanje District Council Chairperson Cassim Ngwale, and senior government and party officials.
The hospital will serve 17,000 families, many of whom were displaced by Tropical Cyclone Freddy in 2022.
Before its construction, people had to travel long distances to access healthcare, according to Council Chairperson Ngwale.
Ngwale praised President Chakwera for bringing electricity to the hospital, a significant development for the community.
