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Saving for a rainy day is hard enough when salaries and wages have not kept abreast with the inflation rate. More so, when the returns on savings that consumers can earn through savings rates are significantly lower than the inflation rate. An analysis by The Nation showed ordinary savings accounts in Malawi attract interest rates
Five envoys yesterday presented their letters of credence to President Lazarus Chakwera at Kamuzu Palace, with Minister of Foreign Affairs Nancy Tembo saying the move strengthens the good relationship between Malawi and their countries. The envoys are from Germany, Australia, Brazil, Mali and Saudi Arabia. The new German Ambassador Ute Konig, is the only one
The Malawi Queens will now be able to host big guns in netball following a donation of a sprung floor by World Netball to NAM. Netball Association of Malawi (NAM) general secretary Isaac Chimwala said in an interview yesterday that the sprung floor is worth R3.2 million (about K195.2 million). He said: “This signifies a
The Department of Disaster Management Affairs (Dodma) says the land compensation claims by some traditional leaders have affected the relocation exercise of people who were affected by Tropical Cyclone Freddy. In an interview yesterday, Dodma spokesperson Chilipiliro Khamula said the relocation exercise banks on some well-wishers such as chiefs to provide free land for relocation,
The Industrial Relations Court (IRC) has ordered the now-defunct Opportunity International Bank of Malawi (OIBM) Limited, now part of First Capital Bank, to pay K753 million to 117 workers who were retrenched in 2016. This follows a decision by High Court of Malawi judge Thomson Ligowe on April 12 2023. He found the bank guilty