Monday, March 8, 2021
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Business Business News

Wholesale dominates share of credit at 28%—RBM

by Orama Chiphwanya
14/06/2018
in Business News
2 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

 

 

RelatedHeadlines

Local traders, consumers go for smuggled goods

TC warns tobacco vendors of stiffer punishment

African countries urged to go green

Economists have asked authorities not to be carried away by the notable dominance of the wholesale and retail trade sector, saying this translates little to economic growth.

The sentiments come in wake of Reserve Bank of Malawi (RBM) figures showing that wholesale and retail trade sectors have dominated the share of credit at 27.6 percent.

RBM first half economic and financial report published this week shows that wholesale surpassed agriculture, manufacturing and community services which constituted 26.6 percent, 17.3 percent and 10.7 percent of the credit stock, respectively.

Irrigation | The Nation Online
Agriculture remains largest contributor to the economy

Economic commentator Gilbert Kachamba in an interview on Tuesday said time has come for the country to support local industries to boost the country’s economic growth.

He said: “While it is not surprising that the wholesale and retail trade sector is dominating loans, this should not be satisfying as almost 90 percent traded merchandise in the retail and wholesale sector is imported.

“What we would like to see is government supporting industries such as manufacturing and transport sectors. These are the sectors that would translate in meaning growth of the economy,” he said.

Catholic University economics lecturer Hopkins Kabaghe said sorting out power supply challenges should be a priority so that domestic manufacturing thrives and becomes profitable.

“Our local manufacturing sector is failing to take off and people are shunning away from making meaningful investments due to the persistent power cuts.

“The manufacturing sector as well other sectors cannot borrow for investment purposes in this current state,” he said.

Economic statistician Alick Nyasulu said there is need to create a conducive environment for doing business.

“We also need to reduce imports and instead export more of finished products,” he said.

Previous Post

Tay Grin takes his free shows to Blantyre

Next Post

Govt plan on persons with albinism ready for launch

Related Posts

Some of the smuggled products at a shop in Mchinji
Business News

Local traders, consumers go for smuggled goods

March 6, 2021
Malunga: Tobacco vending is outlawed
Business News

TC warns tobacco vendors of stiffer punishment

March 6, 2021
Go Green and Save Money | The Nation Online
Business News

African countries urged to go green

March 6, 2021
Next Post
Kalilani: It is being taken to Karonga

Govt plan on persons with albinism ready for launch

Opinions and Columns

Search Within

Cut out the religious dogma from Covid-19 vaccines

March 7, 2021
Big Man Wamkulu

Won’t libido-boosting pills kill him?

March 7, 2021
Political Uncensored

Pulling rank…

March 7, 2021
People’s Tribunal

Ombudsman has challenged us all

March 7, 2021

Trending Stories

  • Protesting pay cut: Mathanga

    Court blocks RBM deputy governor salary cut

    0 shares
    Share 0 Tweet 0
  • RBM sues Mulli, 4 others

    0 shares
    Share 0 Tweet 0
  • Police, DPP, ‘ignore’ court order

    0 shares
    Share 0 Tweet 0
  • Ministry plans to export 1m tonnes surplus maize

    0 shares
    Share 0 Tweet 0
  • Govt to finance 15 major projects

    0 shares
    Share 0 Tweet 0
  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2021 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.