Wednesday, 24 May 2017
 
Joseph Mwananvekha Joseph Mwananvekha Image sourced at wikipedia.com

New Bills To Improve Malawi’s Trade Sector

Written by  Written By Earlene CHIMOYO Feb 17, 2017

Trade and industry authorities are expected to table the Warehouse receipt Bill, and Lotteries and Gaming Board Bill during the current parliament session.

This has been confirmed by the minister responsible, Joseph Mwananvekha.

Speaking to Capital FM, Mwananvekha stated that they are currently pushing for the bills and are currently waiting for approval from cabinet.

Once passed the warehouse bill is expected to give farmers bargaining power over their farm produce at the commodity exchange.

Farmers would be able to have the liberty to release their commodity on the market when they deem the prices to be favourable.

On the other hand the Malawi gaming bill is expected to necessitate the merging of the two gaming institution into one to form what will be called the Malawi Gaming and Lotteries Board.

This comes after representatives of DBR International revealed that the first jackpot for 2017 has hit over MK 14.8 million at once.

The development comes at a time legal gaming is slowly gaining popularity in the country, with about 26 gaming sites currently operating.

Since the inception of DBR, the company has paid in excess of MK 468.8 million in jackpot hits by various players across the country.

In 2016, a total of 17 hits were registered with a payout of over MK 179.2 million.

The more the players win, the more the losses for the dealer.

 

This means that the DBR site or casino cuts back on its profits as huge amounts of money are paid out as wins.

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