Saturday, April 28, 2012

South Africa grants Malawi a loan

Andiswa Mkosi
28 April 2012

South Africa has agreed to loan Malawi around a quarter of a million-Rands to relieve crippling fuel shortages.

The announcement was made during President Joyce Banda's first visit abroad since taking office.

Under the rule of the late president Bingu wa Mutharika, donors cut hundreds-of-millions of dollars in aid to the impoverished nation, due to concerns about his authoritarian rule.

South Africa says the loan shows confidence in Banda’s leadership.

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