Tag Archives: Simplex Chithyola Banda

Business, Malawi, Regional

Finance Minister Chithyola Banda appeals for World Bank’s IDA flexibility towards Malawi’s disaster response

Ufulu

WASHINHTON-(MaraviPost)-Finance Minister, Simplex Chithyola Banda has made a serious appeal for flexibility of the International Development Association (IDA) in supporting countries like Malawi to effectively respond to emergencies and natural disasters that impact heavily on the economy and livelihoods.

IDA is an arm of the World Bank that provides assistance to the world’s 75 low-income countries to help them invest in their future and improve lives.

Chithyola Banda was speaking recently during the 2024 Global Goals Conference Dinner in Washington DC, United States of America.

This is an international academic conference designed to support global debates on the future of the Sustainable Development Goals-until and beyond 2030.

In his presentation, Chithyola Banda also underscored the urgent need for IDA to invest in the country’s education and agriculture sectors as well as help strengthen systems to build resilience amid the recurring disasters.

Last month, President Lazarus Chakwera declared state of disaster in 23 out of the country’s 28 districts affected by the El Nino weather phenomenon and also appealed for support from both local and the international community.

IDA co-founder Kate Garvey commended Chithyola Banda for making what she described as powerful remarks.

“We hope that your conversations were insightful, inspiring, and exciting. As we enter the second half of the Goals, it is essential for us to work together to ensure this IDA replenishment is the largest ever because investing in IDA is investing in our future,” Garve said.

Other speakers were Melinda French Gates from Bill and Melinda Gates Foundation and Andrew Mitchell, Minister of State (Development and Africa), United Kingdom.

Politics

Finance Minister Chithyola claims “Malawi on economic recovery”

Dorica Mtenje

….Chithyola tops up legislator Jiya’s trophy with MK2 million

LILONGWE-(MaraviPost)-Minister of finance, Simplex Chithyola Banda has claimed that Malawi is on economic recovery.

Chithyola made the remarks at Mvama School Ground in Lilongwe’s Area 49 during Lilongwe City Centre legislator Alfred Jiya’s MK8 million trophy finals.

The finance Minister also topped up Njiya’s trophy with MK2 million totaling MK10million.

Chithyola claimed that Malawi has transformed economically under President Lazarus Chakwera’s Tonse Alliance administration adding that people should expect more development.

He cited, “Malawians are no longer queuing for fuel and foreign exchange is available”

Chinthyola therefore commended Lilongwe city Centre lawmaker Jiya for bringing youths together saying, “It is one way of making them useful to themselves”.

He added, “Apart from promoting the youths, the government wants more poor urban communities incorporated in urban social cash transfer programme.

“Everyone deserves the social cash transfer regardless of location, whether urban or rural as urban areas also have more people who are in need as well”.

On his part, Jiya applauded Chithyola for topping up the trophy saying the funds will help to increase the amount of those that participated in the competition.

He however requested Chithyola to ensure that roads in the area are fixed especially the 49 road in his constituency

Shire emerged winners against Dubai veterans after scoring 5 goals to 3.

The event also attracted some Malawi Congress Party (MCP) legislators including Ulemu Msungama, Stevie Baba Malondera, George Zulu, Mike Bango, Nancy Tembo, Deus Gumba, and other newly defected members to the party namely Ken Msonda and among others.

Education

Chithyola acts on Chakwera’s direct on student upkeep: Adjusts allowance from K350 000 to MK560 000

Maravi Post Reporter

LILONGWE-(MaraviPost)-Minister of Finance Chithyola Banda has acted on the directive President Lazarus Chakwera made three weeks ago to adjust students’ upkeep.

Speaking in Parliament today, Banda has announced that the allowance for students in public institutions of higher learning has been adjusted to K560 000 per annum, representing a 60 percent increase from the current K350 000.

Chithyola-Banda made the announcement this afternoon during his response to concerns raised by opposition parties and the parliamentary cluster committees.

The remarks come after Zomba Central member of Parliament McNice Abu Naliwa urged the government to reform the student loan’s system to make it more inclusive and accessible to underprivileged students.

Chakwera made the directive on three weeks during the launch of the University Innovation Pod (UniPod) at the Malawi University of Business and Applied Sciences (MUBAS).

President Chakwera said apart from revising University students loans, the body together with the minister of finance and education should also revise the allowance of the students.

Stakeholders such as PRISAM commended the President saying this will assist so many students in need of support whose parents cannot afford.

President for PRISAM Dr Ernest Kaonga said their body has been providing support to needy students from secondary schools and Universities.

“Our body receives so many letters from students seeking school fees.Currently we adopted students from secondary and Universities who have no support,” he said.

“So we applaud the President, because many students will be able to access education once their loans are revised,” he said

Business, Malawi

Chinthyola projects 3.2% increase for Malawi’s economic growth in 2024

Dorica Mtenje

LILONGWE-(MaraviPost)-The Finance and Economic Planning Minister Simplex Chithyola Banda has projected a 3.2% economic growth for Malawi in 2024.

The minister said President Lazarus Chakwera’s Tonse Alliance government is focusing on expanding economic activities to help recover, develop, and protect the economy.

Speaking at a pre–budget meeting in the capital Lilongwe on Wednesday, January 10, 2024, Chithyola Banda explained that to develop Malawi’s economy which is currently reeling from the effects of COVID-19, Russia-Ukraine war, adverse weather shocks, and rising costs of living.

Chithyola said the country’s economy performed better in 2023 with an estimated GDP growth of 1.5 percent compared to a growth of 0.9 percent registered in 2022.

“Moving forward, we expect a gradual economic recovery with a growth of 3.2 percent in 2024 on account of the improvements in the availability of foreign exchange and investments made in the agriculture sector,” he said

He said the government has embarked fully on supporting the private sector to venture into mega-farms through the Malawi Agricultural, Industrial Investment Cooperation to produce for both local and export markets.

The minister added that the government is also focused on diversifying the economy through carbon markets trading, diaspora engagement, and the Golden Visa Programme as well as quantifying our natural minerals for investment.

Commenting on inflation, Chithyola said the government anticipates the development to slowly decline in 2024 with the end period and annual average inflation rates projected at 17.4 percent and 27.1 percent respectively.

“I want to assure you that we will do our best to fully recover from the shocks the country experienced in 2022 and 2023,” he emphasized.

In his remarks, the Economic Association of Malawi (ECAMA)’s representative Lucius Pawa said the Mega farm concept is a step in the right direction.

Pawa observed that increased agriculture exports (revenue) products from mega-farms can replace imported inputs in the manufacturing sector.

Business, Malawi

Malawi’s 2023/2024 MK4.39tn revised fiscal plan passed in 2:30hrs

Dorica Mtenje

LILONGWE-(MaraviPost)-Members of Parliament (MPs) on Monday, December 4, 2023, passed Malawi’s 2023/2023 MK4.39 trillion revised budget in a day with 57 votes for 2:30 hours only.

Addressing the news conference after the passing of the budget, Minister of Finance, Simplex Chithyola Banda said the budget will focus on important issues affecting the nation.

Chithyola said the budget was quickly passed due to the confidence of the members in the current finance minister.

He said with the passing of the budget they will make sure that there is expenditure control.

The minister therefore applauded all sides of the house for passing the budget in a short time.

Democratic Progressive Party (DPP) Finance spokesperson, Ralph Jooma said the budget has been passed with proper scrutiny regardless of it being passed in a day

Jooma said MK500 million-plus to the budget has made the whole house agree with the budget.

The budget has been seen with some reduction in other ministries including Forest of which the minister highlighted that it’s in line with austerity measures.

Development, Malawi

Opposition legislators demand tangible 44% Malawi Kwacha devaluation response

Dorica Mtenje
Chakwera greets Nankhumwa in Parliament

LILONGWE-(MaraviPost)-As the 3rd meeting of the 50th session commenced on Monday, November 13, 2023, Leader of Opposition, Kondwani Nankhumwa moved a motion that the house should suspend all government business and address devaluation effects that have hit Malawians.

Nankhumwa said the August house was not supposed “to discuss any other issue when Malawians are looking forward to hearing from the government on what measures will help to sustain people’s welfare”.

He said the government should be clear whether they have money to distribute the said maize which is in stock.

Echoing the same, Rumphi East lawmaker, Kamlepo Kalua said the house was supposed to use standing order 14 which allows the August house to suspend all business and tackle the national importance issue which is at hand at that time.

Finance Minister Simplex Chithyola however assured House to present the documented statement on the matter today, Tuesday.

Meanwhile, the Minister of Agriculture has presented the ministerial statement on maize distribution as of 27 October this year, a total of 9,346 metric tones had been drawn out of which 6650 metric tones have been sold this is mainly targeted and the southern and limited number of districts in the center and the North.

Kawale said the second phase will roll out soon to expand coverage in the central and northern regions based on a proper assessment of the situation on the ground.