Business – Page 152 – Maravi Express – Your Kind of News. Clear and accurate.

K35 billion unpaid arrears by BWB choke ESCOM

July 14, 2023

* The unpaid debts have made ESCOM to incur K87 billion in additional costs, which has affected its revenue * As a result of the revenue deficit in the year 2018-2022 base tarrif period, ESCOM underperformed in some of key performance indicators By Steven Mkweteza, Correspondent Electricity Supply Corporation of Malawi ( ESCOM) says it is has been struggling to execute some of its operations due to the K35 billion debt which the Blantyre Water Board (BWB) has owed…

95 graduate from Malawi Relief Fund’s informal vocational training programmes in rural centres

July 13, 2023

| No Comments

| Business, Education, National, News

The graduating youths * Through Maone Vocational Training Center, the programme provides opportunities to rural communities who have no formal qualifications * It is aimed to improve the standards of technical, entrepreneurial and vocational education and training * This is done in order for youths to gain skills to progress into the world of work as part of job creation By Duncan Mlanjira Done in collaboration with government institution, Technical, Entrepreneurial and Vocational Education and Training Authority (TEVETA) —…

High Court orders CFTC to refund Airtel K2.1bln it fined for unfair trading practices

July 12, 2023

| No Comments

| Business, Courts, News

* Upholds that Airtel was in breach of section 43(1)(g) of the Consumer and Fair Trade Act (CFTA) should cease and desist from engaging in unconscionable conduct * Urges relevant authorities to expedite the enactment of the revised repealing the existing CFTA * We will respect the decision of the court and will comply with the same—CFTC * Our legal team is in the process of reviewing the decision to advise on the appropriate way forward By Duncan Mlanjira…

The proposed 69.7% electricity tariffs hike is an own goal towards the containment of inflation rate—Chief Economist Chifipa Mhango

July 12, 2023

| No Comments

| Business, National, News

* Electricity is a key component as an input to production, and its costs crucial to the final product pricing * This means Malawians should expect a further surge in inflation rate to levels even above 40% * Processed food manufacturing costs will increase as well as housing utility segment of inflation basket * This will have negative implications on the already struggling Malawian households’ ability to earn a living under depressed disposable income levels By Duncan Mlanjira South…

Standard Bank starts awarding customers who switch salary accounts

July 8, 2023

| No Comments

| Business, News

* Grand prize is K10 million and K1m monthly prizes in the promotion which runs from July 7-October 31 * Also every month K500,000 to one other account holder, K200,000 each to 3 customers and 50 each winning K50,000 By Duncan Mlanjira Salary and other income earners have a chance of winning a share of K22 million in cash prizes if they switch their salary accounts to Standard Bank Plc, Head of Personal Banking, Takula Kapalamula has said. This…

Withdrawal of new fixed duty on importation of second hand vehicles exposes weak governance—chief economist Chifipa Mhango

July 8, 2023

| No Comments

| Business, Law Enforcement, National, News

* Minister Gwengwe says the figures considered to be new taxes for imported second hand vehicles were wrongly calculated by MRA * He has since directed MRA not to processed with system of clearing second hand vehicles By Duncan Mlanjira Revered South Africa-based Malawian economist observes that the decision by Minister of Finance & Economic Affairs, Sosten Gwengwe to hold back the implementation of new Custom duty on vehicle importation “exposes weak governance issues on the functioning of the…

Malawi, Tanzania sign digital and communication MoU to accord Malawi data affordability

July 8, 2023

| No Comments

| Business, International, National, News

* It will be enhanced by connecting Malawi to the undersea cable through non-commercial avenues * Currently Malawi connects undersea cables to Tanzania and other countries via vendor cables * Which is expensive as Malawi is a landlocked country—Information Minister Kunkuyu By Patricia Kapulula, MANA The Government of Malawi and the United Republic of Tanzania have signed a memorandum of understanding (MoU) on communication and digital to connect the two countries on the data corridor. The agreement was signed…

Connections in Malawi Electricity Access Project hit over 31,000

July 6, 2023

| No Comments

| Business, National, News

* The project seeks to connect 83,000 single-phase households by December 2023 and 180,000 by June 2024 * Southern Region tops the list with 13,363 new connections followed by 10,329 in the Central and 7,222 in the North Maravi Express Electricity Supply Corporation of Malawi (ESCOM) announces that new electricity connections under the World Bank-funded Malawi Electricity Access Project (MEAP) reached 31,000 as of June 30, 2023 — up from 23,000. MEAP Manager, McDivings Longwe gave the update on…

TNM partners Camfone to expand roaming services to 153 new destinations

July 5, 2023

| No Comments

| Business, News

TNM CEO Michel Hebert * The wider roaming options gives TNM customers the comfort for seamless communication connectivity away from Malawi * TNM now has over 300 roaming partners covering 153 countries and is now available to both postpaid and prepaid customers By Duncan Mlanjira In partnership with Comfone, a leading roaming services provider, Malawi’s pioneer mobile telecoms operator, TNM Plc is expanding its roaming services to 153 new destinations. Chief Executive Officer, Michel Hebert says the wider roaming…

FND to petition Parliament on July 26 over “punitive, restrictive and abhorring” duty on imported second hand cars

July 5, 2023

| No Comments

| Business, Law Enforcement, National, News

* This policy is retrogressive and pushing a lot of people into poverty—FND * HRDC gives the government a 7-day ultimatum to engage with different stakeholders and address the issue * MRA contends that the specific tax — which will be implemented from July 15 — has relinquished powers it had * And gives it to motor vehicle importers which they said is good in as far as determination of duty is concerned By Duncan Mlanjira, Maravi Express &…