Business – Page 120 – Maravi Express – Your Kind of News. Clear and accurate.

Illovo Sugar Malawi Plc posts MK56.8bn net profit in 2023 financial year

February 19, 2024

* Operating profit was at MK81.9 billion, which is up from MK39.5 billion in 2022 with net cash holdings at +MK69 billion * Up from +MK5.3 billion while MK51 billion was for foreign payables from MK20 billion By Duncan Mlanjira From a total of MK272.5 billion revenue made in 2023 financial year — an increase from MK186.6 billion realised in 2022 — Illovo Sugar Malawi Plc has posted MK56.8 billion net profit, which is up from MK26.6 billion made…

Tonse Alliance Government ignored reinforcement strategy of an effective performance management system back in 2020

February 13, 2024

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* The document was formulated by South Africa-based Don Consultancy Group Chief Economist, Chifipa Mhango * Whose aim was then to populate each deliverables with an action plan and monitor progress * Don Consultancy Group, whose moto is: ‘Unlocking African Solutions, tries to support Malawi Government for free By Duncan Mlanjira Back in August 2020, the Tonse Alliance Government — through the Presidential Advisor on Strategy & Manifesto, Chaima Banda — was provided a document that compiled as a…

Information Ministry edits Chakwera’s SONA on tourism after it has been presented in Parliament

February 13, 2024

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* Serious copy and paste error on a government Facebook page followed by international community * The whole statement is a contradiction as wrong words were applied because its about domestic tourism marketing strategy * The impression is the President meant that the strategy is for local Malawians to travel within Malawi By Duncan Mlanjira The Department of Information posted on Malawi Government Facebook page highlights of President Lazarus Chakwera’s State of Nation Address (SONA) he presented in Parliament…

Standard Bank Plc asks Chakwera to reinforce an effective performance management system for all MDAs

February 13, 2024

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Standard Bank Chief Executive Phillip Madinga * We believe this would complement current efforts by Government to put economy on a sustainable recovery and growth path * We applaud the government’s commitment to move with implementation of some of the economic reform proposals * Which were tabled during the Standard Bank-hosted Business Leadership Round-Table series By Duncan Mlanjira In a public statement, Standard Bank Plc has asked President Lazarus Chakwera’s administration to reinforce an effective performance management system for…

Malawi one of first in Africa to embrace high-speed satellite internet—Chakwera in his SONA

February 12, 2024

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* Enacted the Data Protection Act, which was signed into law last month to guarantee the safety of personal data * Suspension of the expiry of National Identity Card between August 2023 and January 2026 * E-payment and revenue collection systems in Government — in short, we are going digital and there is no going back By Duncan Mlanjira The most exciting development in Malawi’s digitalization agenda is that the country is one of the first in Africa to…

Malawi should embrace fellow African countries’ tourism updates for they are the key of origin for international travellers—Chief Economist Chifipa Mhango

February 11, 2024

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* One of the key challenges that affects proper planning and drafting of informed policies in most African countries is data availability * And in the case where such data is available, it is often outdated by three to five years * Malawi tourism contributes an estimated 7.7% to the GDP, which received 431,999 international visitors in 2021 * Compared to 198,905 international visitors in 2020 representing 117.2% increase By Duncan Mlanjira South Africa-based Don Consultancy Group Chief Economist,…

Malawi Bureau of Standards suspends and revokes business certificates for food operators

February 11, 2024

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* It is the mandate of the MBS to ensure that Malawians are served with food products that are of quality and good standards * The operators were found operating below the minimum requirements of the Malawi Standard (MS) 21:2002 By Christer Kalukusha, MANA Malawi Bureau of Standards (MBS) has revoked certificates of various food business operators across the country, on issues to do with hygiene and safety — MBS Director General, Dr. Benard Thole said in a press…

Chakwera used 2021 tourism data in his 2024 SONA; Tourism Ministry currently compiling data for 2022-2023

February 10, 2024

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* We must aim at getting to level of monthly data gathering on tourism and migration like other countries—expert * Malawi’s tourism reports are generated annually in collaboration with NSO and Immigration Department—Tourism Ministry Analysis by Duncan Mlanjira President Lazarus Chakwera used 2022 tourism data in his 2024 State of the Nation Address (SONA) that was presented in Parliament yesterday, in which he indicated that international arrivals have increased by about 64% from 2021, reaching approximately 708,000 in 2022….

ESCOM unveils digital mobile App, USSD, chatbot and a redesigned website for seamless submitting of power faults

February 10, 2024

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* The digital mobile App can be accessed through Google PlayStore and search for ESCOM * For those who are tight on phone storage, the WhatsApp chatbot can assist * Those with limited data or smartphone access, the USSD channel — accessible on any basic phone — is the answer * The redesigned website; www.escom.mw is for accessing information pertaining to ESCOM services By Duncan Mlanjira Electricity Supply Corporation of Malawi (ESCOM) Limited has unveiled a digital mobile App,…

Well-presented and detailed SONA with pertinent issues Malawi economy is facing—Chief Economist Chifipa Mhango

February 10, 2024

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* Congratulates Chakwera on the management of regulatory state-owned enterprises (SOEs) and statutory parastatals, saying migrating their bank accounts to the RBM was well overdue * Recommends a specialised account management team division with dedicated staff in RBM to monitor expenditure patterns of the SOEs * With a quarterly review committee process initiated to monitor expenditure patterns By Duncan Mlanjira President Lazarus Chakwera State of the Nation Address (SONA) that was made in Parliament yesterday was “well-presented and detailed, dealing…