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Thandizani Newspaper Yanu

Development

Controversial K734m youth loan scheme suspended

Tuesday, 07 September 2010 21:41

BLANTYRE--Malawi's Capital Hill in Lilongwe has put on hold the disbursement of the controversial K734 million loan scheme for 1,890 youth groups, saying it was "re-examining and perfecting" the list of beneficiaries.

Deputy minister in the Office of the President and Cabinet (OPC), Nicholas Dausi, was quoted by the Daily Times as saying there was nothing wrong with the list, which composed of mainly youth groups of the governing Democratic Progressive Party (DPP) of Pres Bingu wa Mutharika.

"But we thought it must be all inclusive...it must take into account all the youth of the country and that it has to cover each and every corner of the country," Dausi said.

The highly politicised K3 billion Youth Enterprise Development Fund (Yedef) was launched by Mutharika in February and is run by the Malawi Rural Development Fund (Mardef).

Critics say such funds should not favour one group over the other and that there is need for accountability and transparency.

The loans are meant to stem unemployment in the poor southern African nation, where lack of decent employment has thrown hundreds of thousands into the informal sector.--maravipost

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Ex-FM Jumbe: Maize alone can’t give us forex

Tuesday, 07 September 2010 21:41

BLANTYRE--Maize--whose scarcity in Malawi can be a political time bomb--can't drive the agriculture-powered economy, says Malawi's former finance minister Friday Jumbe.

"This government is only focusing on maize at the expense of [other] economic crops.

"As a result, the country is just relying on tobacco for foreign currency earnings. But maize alone cannot drive the economy and it is no wonder that the country is short of foreign currency," Jumbe was quoted as saying in an interview with Trans World, but published in the Daily Times.

Jumbe, an economist and a minister in the UDF administration, said the output from cash crops had dipped because they had been neglected. Jumbe is the care-taker leader of the United Democratic Front which ruled Malawi from 1994-2004. He took over from former president and retired chairman of the UDF, Bakili Muluzi, after he announced that he was leaving politics last year.

The administration of Pres Bingu wa Mutharika has since 2004 when he came to power pushed billions of kwacha into subsiding fertiliser for millions of peasant farmers.

This has led to successive maize harvests in the past years, soaring his political standing in a country that had half of its population threatened by hunger just five years ago.

The government has never showed any signs that it wants to scale down the subsidy programme which donors have not commented much on its sustainability.

Hunger is a pressing issue in the southern African country and a recent newspaper article suggesting that some could go hungry this year ignited presidential anger.

Last week, Mutharika threatened to shut down “lying” media organizations bent on tarnishing “my government’s image.”

But the offending news report merely quoted the Southern African Development Community (SADC) which assessed the food situation in the country and made the forecast. Malawi is a member of the SADC.--maravipost

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US filmmakers to help boost Malawi investment

Tuesday, 07 September 2010 21:41

ATLANTA, US--A group of U.S-based filmmakers will soon be in Malawi to make a documentary featuring private business with the overall goal of attracting foreign and direct investment.

"Malawi is a country worth promoting because its people are friendly, peaceful and the leadership is focused on development, our goal is to be able to make enough noise about the country so that investors can see the real beauty of the country and not the images you normally see on some of the international TV networks," Nathan Liebold, a camera man said.

Forbes magazine recently reported that Malawi is home to the happiest people on the planet.

Rebecca Ramirez, a communications specialist, said she is looking forward to visiting Malawi and that after the world cup soccer bonanza, it’s time for Africa to market itself as one of the most beautiful and diversely rich continents in the world.

Malawi Business firms that are interested to participate in the documentary can contact Rebecca Ramirez at ramirez.midas@gmail.com

The film crew will also visit Tanzania and Mozambique in their quest to promote the positive image of Africa.

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Reserve Bank terminates 4 top officials

Tuesday, 07 September 2010 21:41

BLANTYRE--Malawi's central bank has fired four of its top officials following a restructuring process, a senior official at the Bank was quoted Sunday by the local media.

RBM Company Secretary Samuel Malitoni told the Sunday Times that the four who had lost their jobs were the executive director for corporate services, Moza Zeleza, executive director for support services, Peter Rashid, executive director for supervision of financial institutions Tobias Chinkhwangwa and executive director for economic services Neal Nyirongo.

The four said goodbye on June 30.

Malitoni said the bank started the exercise in 2009 with the approval of its board of directors to improve the efficiency and effectiveness in the operations of the bank.

“As part of the restructuring exercise, one reporting layer was found redundant and accordingly removed from the Bank’s organisational structure,” he told the weekly.

“With the removal of the layer, the executive director level was affected and the Bank in close consultation with the concerned officers agreed to part ways with effect from 1st July, 2010,” said Malitoni.

Malitoni declined to disclose how much each of the fired bosses was going to take home as terminal benefits.

“In determining terminal benefits for the exiting staff, the Bank will follow all applicable legal and contractual requirements. Employment matters are confidential and we do not believe it is appropriate for the Bank to disclose the terminal benefits that will be payable to the concerned staff.

“The exercise is still ongoing and the Bank feels it would be premature to talk about who else has been affected by the restructuring exercise,” added Malitoni.

The RBM was established by an Act of Parliament in 1964 to regulate financial institutions and provide currency.--maravipost

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Court orders Keza House back to owner

Tuesday, 07 September 2010 21:41

BLANTYRE--The controversial Keza office complex which once belonged to ex-president Bakili Muluzi has reverted to the owner who bought it from Muluzi.

A Supreme Court of Appeal ruling made Thursday ordered the Anti-Corruption Bureau, which seized the House saying it still belonged to Muluzi, to be given back to Mahomed Munif Al-Nadhi.

The court also ordered the ACB, which is prosecuting Muluzi on graft charges and had seized the property as security, to pay to Nadhi all rents which the ACB was collecting.

Muluzi sold the House, now being rented by the Malawi Revenue Authority (MRA), at K285 million.

Justice Anatazio Tembo, in his judgement made with Justice Duncan Tambala, and Isaac Mtambo, said Keza was sold after both the High Court and Cupreme Court had allowed the disposal of Keza office complex.

Muluzi, in South Africa attending to his ailing health, is answering charges of siphoning 1.7 billion from state cofffers when he was president between 1994 and 2004.--maravipost

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