AGP Executive Report
Last update: 4 hours agoAmaryllis scandal deepens: Collins Magalasi, a former State House aide and MERA CEO, has been arrested again as investigators follow a cash trail allegedly linked to the K128.7 billion Amaryllis Hotel deal, including claims of large cash withdrawals from National Bank of Malawi. Digital payments push: Standard Bank Malawi launched the “Khaa! Your247” promotion, offering MK46 million in prizes to customers who pay bills via 247 platforms, as the bank targets a faster shift to cashless transactions. Banking results: CDH Investment Bank reported a strong half-year jump, with profit after tax rising to MK41.0 billion for the period ended June 30, 2026, driven by higher interest income, trading margins and customer deposits. Tobacco outlook: New WHO analysis warns Africa is increasing raw tobacco leaf production even as global output falls, while Malawi’s tobacco earnings are projected to drop 43% this year amid lower output and prices. Energy cost pressure: Malawi tops Africa’s August diesel price list at about $3.38 per litre, raising transport and food-cost risks for businesses and households. Women and health: Advocates are calling for more breastfeeding-friendly spaces in Malawi to help working mothers feed safely and reduce stigma. Rare earths deal: Lindian Resources secured exclusive access to heavy rare earth feedstock in Kazakhstan for its SARECO facility, potentially strengthening Malawi-linked magnet supply chains. Governance and justice: Malawi’s High Court is set to deliver a verdict on the constitutionality of the appointment of Fostino Maele as DPP, with legal challenges and a possible stay of proceedings in focus.
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