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The service sector accounts for 51.7% of Malawi's national GDP. Notable industries are tourism, retail, transport, education, health services, telecommunication and the banking sector. The Government of Malawi holds shares in many important companies, such as Malawian Airlines (51%) and Press Corporation Limited. Press Corporation Ltd. is the ...
The kwacha (/ ˈ k w æ tʃ ə /; ISO 4217: MWK, official name Malawi Kwacha [2]) is the currency of Malawi as of 1971, replacing the Malawian pound. It is divided into 100 tambala . The kwacha replaced other types of currency, namely the British pound sterling , the South African rand , and the Rhodesian dollar , that had previously circulated ...
In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation. The exchange rate is grossly more favourable to the seller of the foreign currency than is the official bank rate, but such trading is usually illegal.
ZAR Cent: 100 South Georgia and the South Sandwich Islands: Falkland Islands pound £ FKP Penny: 100 Sterling £ GBP Penny: 100 Liberia: Liberian dollar $ LRD Cent: 100 United States dollar $ USD Cent: 100 Libya: Libyan dinar: LD LYD Dirham: 1000 Liechtenstein: Swiss franc: Fr CHF Rappen: 100 Lithuania: Euro € EUR Cent: 100 Luxembourg: Euro ...
Usage of: West African CFA franc Central African CFA franc The West African CFA franc (French: franc CFA or simply franc, ISO 4217 code: XOF; abbreviation: F.CFA) is the currency used by eight independent states in West Africa which make up the West African Economic and Monetary Union: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.
WASHINGTON (Reuters) -The United States has barred four former officials of the Malawi government from entry because of their involvement in significant corruption, the State Department said on ...
On the advice of the International Monetary Fund, in May 2012 Banda devalued the Malawian kwacha, something Mutharika had refused to do. The announcement of the kwacha's devaluation by 33 per cent against the United States dollar, an attempt to attract donor funding, prompted "panic-buying" in Malawian cities, the BBC News reported. [57]
All banknotes have the same height of 70 mm, the 2 Kwacha, and 5 Kwacha banknotes are 140 mm wide, whilst the rest of the banknotes are 145 mm wide. All new banknotes were printed by the German printing company G&D, except for the 2015 issue of the 100 Kwacha banknote, which was printed by the Dutch Royal Joh. Enschedé. [13] Obverse