Business – Page 149 – Maravi Express – Your Kind of News. Clear and accurate.

Sheer management negligence by some government MDAs contributing towards slow progress to MW2063 MIP-1

June 23, 2023

* We are not implementers but planners and provide implementation oversight * NPC values the importance of journalists in the popularization, mobilization of support and participation * As well as the actual realisation of the MW2063 and its implementation plans * In order to hold accountable those responsible for implementation By Duncan Mlanjira Among the challenges that National Planning Commission (NPC) is facing in the MW2063 First 10-Year Implementation Plan (MIP-1) include “sheer negligence” by some Government ministries, departments…

Energy sector still facing challenges

June 23, 2023

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| Business, National, News

Nkula Power Station * The next 3 and a half years, the project will implement a series of interventions * Aimed at enhancing the capacities of civil society organizations (CSOs) * To influence the local, national, and regional policy and legal frameworks within the energy sector By Tione Andsen, MANA Ministry of Energy has admitted that despite making strides in the energy sector in the country significant challenges remain. The Ministry’s director of electricity, Million Mafuta said this Wednesday…

New post Brexit-trading scheme to benefit Malawian businesses

June 22, 2023

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* We have been crying for trade not aid in Malawi. The new scheme will help business Malawians to grow and trade in the UK * This opportunity has come at a right time and Malawians will be able to export goods to the UK without paying tariffs By Levison Lester, MANA The new post Brexit-trading scheme for least developed countries (LDC) which United Kingdom (UK) has introduced will benefit Malawians to grow in trade and businesss. This was…

Inclusion of youth and women in development space could be best to influence national investment rules—Chakwera

June 22, 2023

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* Trading amongst ourselves, which needs to be encouraged, is usually done by young people and women * As such, those of us in authority need to give them the latitude to be able to do that freely By Mercy Makuwira, MANA When answering a question on how and where innovation could be used to influence national investment rules at AfreximBank’s 30th annual meeting in Accra, Ghana, President Lazarus Chakwera stressed that African leaders need to make a deliberate…

3 lucky FCB customers win gas stoves in ‘Zanga Phee Civil Servants’ promotion

June 22, 2023

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* In the first draw last month, civil servant Shema Daudi was rewarded with a solar power system * The promotion was rolled out in April and its grand prize being K1 million at the end of three months * In which customers are expected to to apply for a loan of a minimum of K1.2 million or to consolidate and top up their existing loans By Victor Singano Jnr For the second draw of the First Capital Bank…

Malawi needs to be a developmental state if MW2063 is to be achieved

June 22, 2023

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| Agriculture, Business, National, News

* ADMARC should be fully commercialized to be jointly managed with the private sector * Malawi should have its own mining company in strong alliance with the private sector * The defunct MDC needs to resuscitated for it to trail-braze investments in all strategic sectors of the economy * So that a diversified economy would be built that will be resilient in times of exogenous shocks By Duncan Mlanjira For ‘Inclusive Wealth Creation and Self Reliance that is enshrined…

Rising level of Malawi inflation rate impacts on RBM’s monetary policy direction—Chief Economist Chifipa Mhango

June 21, 2023

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* Latest data captured on RBM website indicates that the annual inflation rate in Malawi continued to climb * To a 10-year high of 29.2% in May 2023 — up from 28.8% in the previous month of April 2023 * Of concern is the food inflation rate rising to 38.8% and has remained elevated to levels above 30% since June 2022 * This has had negative impact on the poor masses of Malawi as non-food inflation rate was marginal…

FMB Capital Holdings posts K62.6 billion after tax profits; Up by 52%

June 21, 2023

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* The strong performance in the year was on account of growth income accretive assets and profits across its footprint in Africa * All our banks in the five SADC countries have significantly contributed to this growth margin * But Malawi has been the biggest contributor in dollar terms as well—CEO Jaco Viljoen Maravi Express FMB Capital Holdings (FMBCH) Plc, the holding company for First Capital Bank in Africa, has announced that it has made a profit after tax…

National Investment Trust targets K100 billion posts by 2027

June 21, 2023

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* Expecting to post K11.5 billion in its 2023 half year by June from K1.5 billion realized same period in 2022 * Our journey has been successful for the past 5 years except the period of CoVID-19 * Where things was tough but since we have a vibrant investment committee and managers we managed to survive By Victor Singano Jnr Director and chairperson of the Board, Esther Gondwe says National Investment Trust (NITL) Plc has set a target of…

TNM recovers from loss to record 150% half-year net profit

June 20, 2023

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* This follows strong revenue performance in the first and second quarters of 2023 * There are also many positive indicators in key business segments, especially mobile money, voice and data By Duncan Mlanjira Profit after tax for Malawian-owned mobile telecoms operator, TNM Plc will be 150% higher than the same period last year, the operator said in a Trading Statement on Friday, citing good performance for the first half of the year. The statement says the half-year…