The government of Malawi is setting up a plan to revive its finances in the post-pandemic period. In a December 22 tweet, President Lazarus Chakwera (pictured) announced his government will set aside $715 million for this plan over the next three years.
The recovery plan provides for a reduction in government spending to free up more funds for social spending. According to data from the International Monetary Fund (IMF), inflation will rise to 9% this year, against 8.6% last year, due to higher prices of fuel, fertilizers, and food.
This new government reform will be welcomed by Malawians, whose recent demands for better living conditions have caused social tensions in the country. After a -4.5% recession last year, IMF forecasted the economy to rebound to 2.2% this year, thanks in particular to good harvests. The Malawian government is also considering improving its Covid-19 vaccination rate, currently estimated at 3.44% (Africa CDC). To date, the country has recorded 2,319 deaths and 68,470 cases of infections.
Absa Kenya hires M-PESA’s Sitoyo Lopokoiyit, signalling a shift from branch banking to a telecom-s...
Ziidi Trader enables NSE share trading via M-Pesa M-Pesa revenue rose 15.2% to 161.1 billio...
MTN Group has no official presence in the Democratic Republic of Congo, where the mobile market is d...
Ghana has 50,000 tonnes unsold cocoa at ports Cocoa prices fell from $13,000 to around ...
This week in Africa, Africa CDC is stepping up its drive for health sovereignty, building new partne...
Democratic Republic of the Congo selected a public-private partnership to pave 258 km of National Road No. 27 in Ituri province. The project carries an...
Four East African countries signed an agreement creating the DESSU Corridor Authority on February 15 in Djibouti. The multimodal corridor will link the...
As digital payments continue to expand across Francophone Africa, the ecosystem is moving into a more mature phase where the core challenge is no longer...
Nigeria opened a formal investigation into Temu over alleged violations of its 2023 data protection law. Regulators said up to 12.7 million Nigerian...
“Dao” ranks among the three films in official competition at the 76th Berlinale and marks Alain Gomis’ second bid for the Golden Bear. The film...
Fort Jesus is a fortress located in Mombasa, on Kenya’s coastline, at the entrance to the natural harbor that long made the city a hub of trade in the...