Business – Page 150 – Maravi Express – Your Kind of News. Clear and accurate.

UK introduces new post-Brexit trading scheme for developing countries including Malawi

June 20, 2023

* Scheme cuts tariffs on products entering the UK from 65 developing countries * It will help reduce import costs by over £770m per year, benefiting UK consumers and businesses By Duncan Mlanjira The United Kingdom (UK) has introduced a landmark developing countries trading scheme that has entered into force on Monday, June 19 with Malawi as part of the list to benefit from the scheme that covers 65 countries that are home to over 3.3 billion people —…

42 grocers and table tops win iron sheets and bicycles in 1st draw of Illovo Sugar’s ‘Tseketseke Kuma Last’ promotion

June 20, 2023

| No Comments

| Business, News

* Consumers set to be rewarded by the end of the promotion period for 3 main big prizes * Of 6 cookers, 6 upright fridges and 6 shopping vouchers worth K250,000 for a total of 6 winners for each category By Duncan Mlanjira The first draw of Illovo Sugar Malawi’s ‘Tseketseke Kuma Last’ in the grocers and tabletops segments identified 42 lucky winners that walk away with sheets and bicycles. This biggest promotion of the year 2023, which was…

TNM introduces 2000% bonus airtime for SIM reactivation

June 18, 2023

| No Comments

| Business, Entertainment, News

* Numbers that have been inactive for more than 60 days * By buying airtime on Mpamba and if they recharge using scratch cards and banks, they will receive 1000% bonus * Customers are encouraged to recharge with high values on their first monthly recharge to get the highest bonus value By Duncan Mlanjira In the continuation of celebrating the Mahape moments and introduction of 5G network, TNM Plc has introduced a ground-breaking ‘Welcome Back Offer’ for TNM SIM…

Leston Mulli attending Afreximbank’s 30th Anniversary celebration alongside President Chakwera

June 18, 2023

| No Comments

| Business, International, News

* The events provide an opportunity to reflect on and celebrate, Afreximbank’s achievements and contributions to boosting Africa’s trade and in transforming African economies * Under the theme: ‘Delivering the Vision, Building Prosperity for Africans By Duncan Mlanjira, Maravi Express & Mercy Makuwira, MANA One of the country’s top entrepreneurs, Leston Mulli of Mulli Brothers Limited is also attending the 30th Anniversary celebration of African Export-Import Bank (Afreximbank) alongside President Lazarus Chakwera being held in Accra from today, June…

RBM’s annual loss of K187.5bln should not be ignored as it has dire consequences on the Malawi economy—Chief Economist Chifipa Mhango

June 15, 2023

| No Comments

| Business, National, News

* In any developed economy, with a strong financial system, a reporting of RBM making losses would cause markets trembling * For the very nature that a Central Bank — in a normal nature — makes profits than losses * Because it is essentially a monopolistic business supplying an essential commodity which is the currency * Hence its losses cannot be ignored By Duncan Mlanjira South Africa-based Malawian, Chifipa Mhango, who is Don Consultancy Group (DCG) Chief Economist, says…

MERA reviewing ESCOM’s application to approve a 69.7% tariff increase

June 14, 2023

| No Comments

| Business, National, News

* For the period 2023-2027 as a successor base tariff to the one that was implemented from 2018-2022 * The new application is a significant reduction from the 99.9% that ESCOM and Power Market Limited (PML) jointly asked before PML was dissolved Maravi Express Malawi Energy Regulatory Authority (MERA) says it is reviewing the application that Electricity Supply Corporation of Malawi (ESCOM) has submitted in which it is asking to consider and approve a 69.7% tariff increase for the…

Constructive approach in five areas of concern on the fertilizer procurement deal with Romanian company

June 13, 2023

| No Comments

| Agriculture, Business, National, News

By Chifipa Mhango, Don Consultancy Group Chief Economist JOHANNESBURG, 13th June, 2023–The Minister of Agriculture of Malawi, Hon. Sam Kawale’s explanation on the fertilizer procurement deal with a Romanian company has left us saddened, as it also reflects governance challenges on the part of Malawi Government. I would like to remind my fellow countrymen the following: “The destiny of any country in a democratic depensation cannot be left in our man nor woman alone; nor a grouping of…

NICO Group posts K37.5 billion profit performance in 2022

June 13, 2023

| No Comments

| Business, News

NICO Group Managing Director, Vizenge Kumwenda briefing the stakeholders * The 2022 financial status has been positive and impressive because of the massive support and unity between the Group and its clients * Who always provide constructive feedback that helps to drive them to a right direction * In terms of how they can improve their services and NICO promises to work towards meeting stakeholders’ expectations By Victor Singano Jnr NICO Group has disclosed that it has realized a…

Forum for National Development petitions RBM to investigate banks involved in 338 ATM cards confiscated at KIA

June 12, 2023

| No Comments

| Business, Law Enforcement, National, News

* Among the cards confiscated belonged to leading banks in the country and we call upon you to probe these banks * Banks are supposed to conduct a Know-Your-Customer (KYC) on opening bank accounts and issuing ATM cards * It is a serious lapse and offence by these banks that only five individuals will have these number of cards By Duncan Mlanjira The Governor of the Reserve Bank of Malawi (RBM), who is the financial services regulator in the…

Muluzi’s Nigerian business partner Dozy Mmobuosi touted to fund construction of houses for Cyclone Freddy survivors is involved in fraud allegations

June 12, 2023

| No Comments

| Business, International, National, News

* Hindenburg Research accused Mmobuosi’s fintech company, Tingo Group of being an “exceptionally obvious scam with completely fabricated financials” * Nigerian Communications Commission (NCC), which revealed that it has no record of Tingo being a mobile licensee at all, despite company claims of having 12 million mobile customers By Duncan Mlanjira Nigerian businessman, Dozy Mmobuosi — who was unveiled by former President Bakili Muluzi as the donor for the housing project in Phalombe to benefit Tropical Cyclone Freddy surviving…