FDH Bank Plc officially listed on Malawi Stock Exchange

By Mayamiko Phiri FDH Bank Plc has officially been listed on Malawi Stock Exchange at a colorful ceremony took place in Blantyre on Monday, 3rd August 2020. On the listing day about 900,000 shares were traded. The price went up to K15 from K10 per share allowing shareholders to register a capital gain of 50 percentage on the first day. FDH bank managing director, Ellias Ngalande said this is a good development for the bank as now they will…

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Airtel resumes person to person mobile money transaction fees

Maravi Express Airtel Money has reverted to its original transaction fees and account holding balances following the expiry of provisional measures put in place on 23rd April 2020 to mitigate the impact of COVID-19 for 90 days (3 months). In a statement, Airtel says effective from 1st August, 2020, fees on all Person to Person (P2P) transactions for Airtel Money to Airtel Money customers and from Airtel Money to Mpamba customers are now as was on 22nd April 2020….

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ESCOM employees contributing to illegal power supply connections; Disconnects 20 houses in Bangwe

Maravi Express Electricity Supply Corporation of Malawi (ESCOM) has disclosed that some of their employees, both active and former staff members, are contributing to illegal power supply connections. This was disclosed on Friday, July 31 by ESCOM’s Public Relations Manager, Innocent Chitosi when the power utility supplier disconnected a total 40 houses at Nthandizi in Limbe’s Bangwe township for illegal connections. In its ‘Random Inspections Exercise’ of electricity, ESCOM discovered that some of their customers, Horrace Khan and Mabvuto Kapyepye,…

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NBS Bank, NBS Forex Bureau record half-year MK3.7bln profit before tax

By Duncan Mlanjira NBS Bank Plc and NBS Forex Bureau have recorded a profit before tax of MK3.7 billion for the six months ended 30th June 2020 and net profit after tax of MK2.8 billion. The profit before tax is up from MK2.1 billion in the same period in 2019 that had a net profit after tax of MK1.4 billion. Due to this impressive performance, the Bank’s Board of Directors has recommended the payment of an interim dividend for…

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Minister delighted with reduction of Airtel’s data tariffs; But asks company to do more

By Trouble Ziba, MANA Minister of Information, Gospel Kazako says he is delighted at Airtel’s decision to increase data benefits for its customers and reducing Pay-As-You-Go (PAYG) tariffs, but has asked the mobile operator to do more to accord Malawians affordable ICT services. Airtel Malawi, one of the country’s top mobile phone service providers, announced on Thursday at a press briefing in Lilongwe that it would increase value of data bundles to make internet connectivity more affordable effective Monday,…

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Government ready to support local SMEs — Gwengwe

By Sylvester Kumwenda, MANA Government is ready to support young Malawians who would venture into small and medium scale enterprises (SMEs) by introducing regulations to protect their local productions on the market. Minister of Trade Sosten Gwengwe made the remarks Wednesday in Lilongwe when he announced the rolling out of the new Control of Goods Act agreed by Parliament in 2018 which became effective on July 10. The accompanying Control of Goods Regulations which are Control of Goods (Public…

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Lisungwi irrigation scheme project on course

By Maston Kaiya, MANA There are high prospects that a multimillion World Bank funded Lisungwi Irrigation Scheme project in Ntcheu will be completed by October, 2020. Ntcheu District Irrigation Officer, Limbani Mzembe disclosed this Tuesday, when together with Ntcheu District Commissioner (DC) Francis Matewere, toured the construction sites beside other irrigation schemes in the district. The other irrigation schemes which were visited are Chikondi, Namadidi, Linungwi and Muthe. Mzembe, who was impressed with the construction progress so far, said…

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Concerned citizens ask for amendment to Pensions Act

Maravi Express Some serving and retired officers from both the private sector and the civil service, calling themselves Pensions Act Amendment Movement (PAAM), have petitioned Minister of Labour to consider amending the Pension Act of 2010. The petition dated July 22, 2020, has been copied the Speaker of Parliament, Human Rights Defenders Coalition, Malawi Congress of Trade Union, Youth and Society and Malawi Human Rights Commission. It says much as the Pension Act of 2010 is important, it however,…

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Malawian private tree seedlings developer diversifies to fruits seedlings

By Duncan Mlanjira Following end of tree planting season to arrest the rampant deforestation, Malawian passionate private seedlings developer, Mapopa William Banda, has now diversified by raising fruits tree seedlings. He has in stock indigenous fruits tree seedlings such as Mbilima, Mpinjipinji, Matowo, Mateme, Masau, Chitimbe and Mkundi. The exotic fruits are Mangoes, Lemons, Oranges, Limes, Guavas, Avocado pears and Pomegranates. Mapopa says he already has great support mainly from the elite customers who are appreciating the value of…

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Power of investment book ‘Khobidi Malawi’ attracting great demand

By Duncan Mlanjira The financial investment book, Khobidi Malawi — which Blantyre-based journalist, Alick Sichali of Ufulu FM authored — has attracted great demand prompting the author to distribute it countrywide. Sichali said more than 100 copies were sold in a month after its release last month and is being sold through books-shops and other outlets such as Claim Mabuku, Central BookShop, Nkhungudzu BookShop, Bookland international, Bookmate publishers, Mzuzu Book Centre, Poly Total Filling Station, Kwaharaba, Triphant BookShop, Bookworm,…

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