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Zero Deficit Budget Of Malawi
The Zero Deficit Budget of Malawi (ZDB) was a financial strategy laid out by Minister of Finance Ken Kandodo of Malawi in 2011 under the Bingu wa Mutharika administration that is based on zero-based budgeting. This was a new approach to economic financial budgeting for 'least developed countries' where the government aimed to finance all the recurrent expenditures using its own domestic resources. Kandodo mentioned that this new ZDB is based on several consultations and studies, he did not cite any country on which he will model the zero-deficit budget approach nor a successfully executed Zero Deficit budget. The budget was one of the causes of the 2011 Malawian protests. Reception The Economics Association of Malawi noted that although the budget was based on four important cornerstones: 1) global economic outlook; 2) Millennium Development Goals (MGDs) priorities; 3) fiscal discipline with clearly spelt expenditure controls and 4) prioritising allocation of resources towards reve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ken Kandodo
Ken Kandodo is a Financial Manager, MP and politician who was appointed Malawi's Minister of Labour in July 2020, following the 2020 presidential elections. Ken Kandodo was relieved from his ministerial position in April 2021 following the fraudulent use of COVID-19 funds. Ken Kandodo also served as Malawi's Minister of Finance from 15 June 2009 to 8 September 2011, due to the reshuffle in the Cabinet of Malawi. Kandodo is a grand nephew of former president Hastings Banda.On 18 April 2021, Ken Kandodo was fired from his ministerial post due to mismanagement of COVID-19 funds. He is a Chewa from the midlands of Malawi. Early life and career He attended the University of Malawi, graduating in 1983 with a BSc in Social Science, majoring in economics. He attended the University of Strathclyde in Scotland, where he obtained an MBA degree in Finance. He worked as an Auditor with KPMG for ten years in the United Kingdom, Malawi and Mozambique. He was appointed a lead Consultant for U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Malawi
Malawi, officially the Republic of Malawi, is a landlocked country in Southeastern Africa. It is bordered by Zambia to the west, Tanzania to the north and northeast, and Mozambique to the east, south, and southwest. Malawi spans over and has an estimated population of 21,240,689 (as of 2024). Lilongwe is its capital and largest city, while the next three largest cities are Blantyre, Mzuzu, and Zomba, the former capital. The part of Africa now known as Malawi was settled around the 10th century by the Akafula, also known as the Abathwa. Later, the Bantu groups came and drove out the Akafula and formed various kingdoms such as the Maravi and Nkhamanga kingdoms, among others that flourished from the 16th century. In 1891, the area was colonised by the British as the British Central African Protectorate, and it was renamed '' Nyasaland'' in 1907. In 1964, Nyasaland became an independent country as a Commonwealth realm under Prime Minister Hastings Banda, and was rena ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bingu Wa Mutharika
Bingu wa Mutharika (; born Brightson Webster Ryson Thom; 24 February 1934 – 5 April 2012) was a Malawian politician and economist who was President of Malawi from May 2004 until his death in April 2012. He was also President of the Democratic Progressive Party (Malawi), Democratic Progressive Party, which he founded in February 2005; it obtained a majority in Malawi's parliament in the 2009 Malawian general election, 2009 general election. During his two terms in office, he was noted for being the Chairperson of the African Union in 2010–2011, as well as for several domestic controversies. In 2009, he purchased a private presidential jet for $13.26 million. This was followed almost immediately by a nationwide fuel shortage, which was officially blamed on logistical problems but was more likely due to the hard currency shortage caused by the freezing of aid by the international community. He died in office from a cardiac arrest on 5 April 2012, at age 78. Earl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zero-based Budgeting
Zero-based budgeting (ZBB) is a budgeting method that requires all expenses to be justified and approved in each new budget period. It was developed by Peter Pyhrr in the 1970s. This budgeting method analyzes an organization's needs and costs by starting from a "zero base" (meaning no funding allocation) at the beginning of every period. The intended outcome is to assess the efficient use of resources by determining if services can be provided at a lower cost. However, the saving comes at the expense of a complete restructuring every budget cycle. Although used at least partially in both government and the private sector, there is some doubt whether ZBB has ever been utilized to its fullest extent in any organization. Description The zero-based budgeting method requires all expenses to be justified and approved in each new budget period, typically each year. The method analyzes an organization's needs and costs by starting from no funding allocation (a ''zero base'') at the begi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Least Developed Countries
The least developed countries (LDCs) are developing countries listed by the United Nations that exhibit the lowest indicators of socioeconomic development. The concept of LDCs originated in the late 1960s and the first group of LDCs was listed by the UN in its resolution 2768 (XXVI) on 18 November 1971. A country is classified among the Least Developed Countries if it meets three criteria:UN-OHRLLS . * Poverty – adjustable criterion based on Gross national income (GNI) per capita averaged over three years. , a country must have GNI per capita less than US$1,025 to be included on the list, and over $1,230 to graduate from it. * Human resource weakness (based on indicators of nutrition, health, education and adult literacy). * Economic vulnerability (based on instability of agricultural production, instability of exports of goods and services, economic importance of non-traditional activities, merchandise export concentration, handicap of economic smallness, and the percenta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2011 Malawian Protests
The 2011 Malawi protests were protests aimed at winning political and economic reforms or concessions from the government of Malawi, government of Malawi. On 20 July, Malawian organisations protested against perceived poor economic management and poor governance by President Bingu wa Mutharika and his Democratic Progressive Party (Malawi), Democratic Progressive Party. After the first two days of protests, 18 deaths, 98 serious injuries and 275 arrests had been reported. Further demonstrations were organised on 17 August and 21 September The first protest was later cancelled due to the intervention of a UN representative in initiating a dialogue; however, the talks broke down with more protests planned for Red Wednesday through a national vigil. Causes The protesters' grievances were highlighted in a 15-page petition presented by a group of civil society NGOs which included a list of 20 demands: *Acute and growing fuel shortages – queuing for fuel was becoming progressively ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Millennium Development Goals
In the United Nations, the Millennium Development Goals (MDGs) were eight international development goals for the year 2015 created following the Millennium Summit, following the adoption of the United Nations Millennium Declaration. These were based on the OECD DAC International Development Goals agreed by Development Ministers in the "Shaping the 21st Century Strategy". The Sustainable Development Goals (SDGs) succeeded the MDGs in 2016. All 191 United Nations member states, and at least 22 international organizations, committed to help achieve the following Millennium Development Goals by 2015: # To eradicate extreme poverty and hunger # To achieve universal primary education # To promote gender equality and empower women # To reduce child mortality # To improve maternal health # To combat HIV/AIDS, malaria, and other diseases # To ensure environmental sustainability # To develop a global partnership for development [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Friday Jumbe
Friday Anderson Jumbe (born 4 April 1955) is a Malawian economist and politician who served in the government of Malawi as Minister of Finance and Economic Planning under President Bakili Muluzi, representing the United Democratic Front. Early life and education Jumbe studied economics and political science and obtained a bachelor's degree in 1977 from the University of Malawi, Chancellor college. He obtained a post graduate diploma in project planning and appraisal from University of Bradford in 1980. In 1985 he obtained a Masters of Science degree in Finance and banking for Development from Fianafrica in Milan, Italy. In 2013 he was pursuing his dissertation for a Doctoral degree in Finance from Exploits University, a private institution of higher learning in Malawi. His PhD research work is on the Malawi economy and its performance under aid packages from donors and multilateral institutions. Career Jumbe worked as a projects analyst in Malawi Development Corporation in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Export Processing Zones
A free-trade zone (FTZ) is a class of special economic zone. It is a geographic area where goods may be imported, stored, handled, manufactured, or reconfigured and re-exported under specific customs regulation and generally not subject to customs duty. Free trade zones are generally organized around major seaports, international airports, and national frontiers—areas with many geographic advantages for trade. Definition The World Bank defines free trade zones as "small, fenced-in, duty-free areas, offering warehousing, storage, and distribution facilities for trade, transshipment, and re-export operations". Free-trade zones can also be defined as labor-intensive manufacturing centers that involve the import of raw materials or components and the export of factory products, but this is a dated definition as more and more free-trade zones focus on service industries such as software, back-office operations, research, and financial services. Synonyms Free-trade zones are re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Politics Of Malawi
Politics of Malawi takes place in a framework of a presidential representative democratic republic, whereby the President of Malawi is both head of state and head of government, and of a multi-party system. Executive power is exercised by the government. Legislative power is vested in both the government and the National Assembly. There is a cabinet of Malawi that is appointed by the President of Malawi. The judiciary is independent of the executive and the legislature. Malawi attained independence in July 1964 and was governed as a one-party personalist dictatorship under Hastings Banda and his Malawi Congress Party from 1964 to 1994. In the early 1990s, pressure formed on the regime to democratize. Following a 1993 referendum won by pro-democracy forces, a multi-party democratic system was established in 1994. Scholars have remarked on Malawi as an unusually resilient democracy given that it has many of the preconditions for democratic backsliding such as a weak economy, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
