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Tobacco sales currently underway in Malawi continue to rake in the much needed foreign currency to revive the southern Africa country’s foreign reserves.
Malawi has been in the middle of economic crisis that led to shortage of forex and fuel especially during the rule of late President Mutharika, a professorial but temperamental economist who fell out with major donors.
From three million dollars realized in the third week of the sales, the revenue has jumped to $7 m about over K1b.
In a statement Auction Holdings Limited said the prevailing minimum price is $1 23 cents in all the markets.
Tobacco Control Commission further said low stocks of the leaf continue to delay opening of the remaining Mzuzu market.
