Business – Page 108 – Maravi Express – Your Kind of News. Clear and accurate.

Standard Bank’s Diaspora Transfer & Win promotion ignites excitement in diaspora forex markets

April 25, 2024

* From March, the promotion boosted the Bank’s trading volumes by 19% and revenue by 17% * Signalling increased interest by Malawians in the diaspora to remit forex back home Maravi Express There is increased interest by Malawians living abroad to remit foreign currency (forex) home, a development Standard Bank Plc says will in the long-term help improve availability of forex and boost national development. Charity Mughogho, Standard Bank’s executive head of personal & private banking (PPB) attested to…

TNM brings SME Connect Solution; A converged communication solution

April 24, 2024

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| Business, News

* Designed to streamline operations, improve efficiency, and empower SMEs to thrive in an increasingly competitive market * We understand that SMEs face numerous challenges that deter productivity as they strive to maintain agility By Duncan Mlanjira Malawi’s pioneer mobile network and ICT services provider, TNM Plc, has launched a converged communication solution that integrates Microsoft 365 into mobile voice and data for small & medium enterprises (SMEs). Dubbed TNM SME Connect, the product integrates voice, data and Microsoft…

Consumers alerted against paying for building materials before delivery

April 24, 2024

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| Business, Law Enforcement, National, News

Mostly its roof iron sheets * As some traders demand pre-payment when they don’t have the goods in stock or capacity to supply * Which is a violation of section 43 (1)(g) of the Competition and Fair Trading Act (CFTA) By Duncan Mlanjira The Competition & Fair Trading Commission (CFTC) says it has in the past six months been receiving complaints from consumers regarding the conduct by some traders who are receiving prepayment for goods, especially building materials such…

CDH Investment Bank expresses optimism of further growth; As it posts K11.140 billion profit after tax

April 24, 2024

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| Business, News

* The performance represents a 48% jump in profit when compared to the K7.53 billion which the bank reported in 2022 * Customer deposits grew by 42% year on year while the bank’s loans and advances grew by 34% * With investment funds and financial assets growing by 42% and 40% respectively By Duncan Mlanjira CDH Investment Bank (CDHIB) has expressed its optimism of further growth in both the investment banking and commercial banking activities, “albeit, in a challenging…

‘Illovo Sugar Malawi stands in solidarity with its surrounding communities’; As Nchalo Estate donates 16,000 bags of maize flour

April 24, 2024

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| Agriculture, Business, National, News

* Recently, we have been confronted with the stark reality of hunger in Chikwawa district due to the El Niño weather phenomenon * The plight of our fellow citizens, particularly those in Paramount Chief Lundu’s community, has weighed heavily on our hearts By Duncan Mlanjira Illovo Sugar Malawi Plc emphasised its moto of ‘Creating a Thriving Community’ by donating 16,000 bags of maize flour of 25kgs each to surrounding residents of Nchalo Estate in Chikwawa as an assurance that…

CFTC to enquire with Illovo on reasons behind increase of sugar prices

April 22, 2024

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| Business, Law Enforcement, National, News

* This may culminate into a full-fledged investigation against the company depending on the explanation we get * We are also alive to the fact that this increment comes barely five months after the company effected a 33% increment on sugar products following the currency realignment By Duncan Mlanjira Following the announcement on the increase of prices of sugar made today by Illovo Sugar Malawi Plc, Competition & Fair Trading Commission (CFTC) says it is in process of engaging…

Malawi-Israel labour MoU ‘agrees to recruit workers who have relevant experience in the agriculture sector’

April 22, 2024

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| Agriculture, Business, International, National, News

* The relevant experience ranging from agronomy, animal husbandry, horticulture, among others * MoU to ensure that the cooperation in the field of labour is guided by legal, fair, and well-informed protocols Analysis by Duncan Mlanjira Malawi’s temporary agricultural labour export to Israel attracted a lot of local and international attention as it coincided with the conflict between Israel and the Hamas — with some labeling it as a secret deal — but truth of the matter was Malawi…

Standard Bank Plc renews its sponsorship of MAFCO FC

April 21, 2024

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| Business, News, Sports

* In the just ended season, MAFCO finished in the top 10 of the TNM Super League table * The side also reached cup finals of two other prestigious domestic cups By Duncan Mlanjira Standard Bank Plc, which started sponsoring MAFCO FC, has renewed its support of the Malawi Armed Forces College club with an improved package of K26,785 million for the 2024/25 TNM Super League season, up from K18.2 million last season. On its Facebook page, Standard Bank…

Increased power connectivity amongst Malawians gets Word Bank Group’s blessings

April 21, 2024

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| Business, National, News

World Bank’s Practice Manager, Yadviga Semikolenova * Before 2023, ESCOM was able to connect only 35,000 people a year to the national grid, which was not fast enough * This was the best the utility provider could do but given how fast the population has grown it didn’t give a dent * We are impressed that in 2023 alone, connections to the grid grew from 35,000 to over 75,000, which is no mean achievements By Mike van Kamande in…

Bank-Nkhonde shares, loans fueling suicide cases among married men—Police

April 21, 2024

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* In most cases, women do not tell their husbands about their shares and loans that they get from Bank-Nkhonde, which later becomes a burden to their husbands * Wives should always engage their husbands when joining and obtaining loans from Bank-Nkhonde By Andrew Mkonda, MANA & Duncan Mlanjira, Maravi Express The mostly unregistered Bank-Nkhonde cooperatives, groupings of women who mobilise shares and provide loans amongst themselves, are some of the factors that are fueling suicide cases among married…