Business – Page 16 – Maravi Express – Your Kind of News. Clear and accurate.

Government constructing houses for relocated 45 families affected by Mpatamanga Hydropower project

March 11, 2026

* Contractors of the whole project are expected to be selected by May or June 2026 and expected to be completed by July 2026 * Construction of the hydropower project is expected to employ about 2,500 workers, with priority given to local communities for unskilled labour By Duncan Mlanjira The 45 families that are to be relocated to pave way for the construction of Mpatamanga hydropower plant in Neno District, will be soundly compensated by the Government by being…

Civil Service Pension Fund to wait 36 years to recover Amaryllis Hotel purchase costs; With profitability only expected after 40 years

March 11, 2026

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Amaryllis Hotel * Our projection valued the property at K36.7 billion, significantly lower than the K48.7 billion estimated by the buyer and seller—Continental Asset Management * Inconsistencies and unacceptable practice have emerged raising questions about the transaction’s integrity—PAC chairperson Steve Malondera By Patience Longwe, MANA Continental Asset Management has revealed to the Public Accounts Committee (PAC) of Parliament that the Public Service Pension Trust Fund faces a daunting 36-year wait to recover the K128 billion spent on purchasing Amaryllis…

Mayor Jomo Osman disrupts CEAR’s control centre of operations critical to the safe coordination and monitoring of safe train movements

March 10, 2026

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* Despite on spot pleas that the company has documentation proving it does not have any outstanding city rates debt with Blantyre City Council * Which the Council’s Finance Department later verified that indeed it does not have any outstanding debt or unpaid city rates By Duncan Mlanjira Blantyre City Mayor, Jomo Osman, accompanied by his deputy Gerald Lipikwe and other Councillors and secretariat staff, went on a spree today ordering the closure of companies and institutions owing the…

Illovo Sugar Malawi Plc strongly refutes claims of sugar price reduction

March 10, 2026

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* All official Illovo Sugar (Malawi) Plc announcements are exclusively communicated through our verified social media pages and official communication channels By Duncan Mlanjira Illovo Sugar Malawi Plc alerts its customers that the public notice is circulating claiming that it has announced price reductions across all sugar pack sizes is fake. In a statement posted on its public WhatsApp platform, Illovo emphasises this notice is not genuine, and strongly urges “everyone not to share or rely on its contents”….

‘RBM’s policy rate cut should open doors for banking sector’s structural reform and expanded private sector lending’—Chifipa Mhango

March 10, 2026

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Reserve Bank of Malawi * The move reflects improving inflation dynamics and the central bank’s intention to stimulate investment, production, and job creation across the economy By Duncan Mlanjira Chifipa Mhango, Chief Economist of Don Consultancy Group maintains that the decision by the Reserve Bank of Malawi (RBM) to reduce the policy rate to 24% “marks an important step toward easing financial conditions and supporting economic recovery”. “The move reflects improving inflation dynamics and the central bank’s intention to…

Parliament engages FDH Bank over the controversial Amaryllis Hotel purchase deal by Public Service Pension Trust Fund

March 10, 2026

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* FDH Bank recommended that the hotel should be sold at around K30 billion, based on their 2023 assessment, but the hotel was ultimately sold for K128 billion * The transaction wasn’t particularly profitable compared to the investment made—FDH Bank Managing Director Noel Mkulichi By Patience Longwe, MANA & Duncan Mlanjira, Maravi Express The Public Accounts Committee (PAC) of Parliament has begun investigating the proposed purchase of Amaryllis Hotel by the Public Service Pension Trust Fund and today, it…

Lawyer Kalekeni Kaphale removed in court case as being in conflict of interest that he was involved in acting as Attorney General 7 years ago

March 10, 2026

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Former Attorney General Kalekeni Kaphale * In Commercial Cause No. 259 of 2019 involving Prima Fuels Ltd, Attorney General against Total Malawi and Total Ltd * Allowing his firm to continue acting for Total Malawi will, even to the most objective person, conjure injustice and unfairness to Prima Fuels * Total Malawi Limited has several legal practitioners acting on their behalf in the case and should the company still desire to replace Messrs Kalekeni Kaphale Lawyers, they should do…

’Strengthening enforcement of truck loading limits to not only protect road infrastructure but also improve road safety’—DRTSS Director Kuyera

March 10, 2026

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* Nationwide truck overload surveys currently underway will provide baseline data that will inform the new strategy and help authorities identify corridors where overloading is most prevalent * As the Roads Authority observes that truck overloading is contributing to the premature deterioration of roads across the country By Arthur Kaludzu MANA The Directorate of Road Traffic & Safety Services (DRTSS) and the Roads Authority (RA) — through the Southern Africa Trade and Connectivity Project (SATCP), is reviewing the country’s…

Foreign Affairs Minister George Chaponda calls for stronger for intra-Commonwealth trade opportunities

March 10, 2026

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* During the 26th Commonwealth Foreign Affairs Ministers Meeting (CFAMM) at Lancaster House in London on Sunday, March 8 * Where the Ministers supported a range of reform proposals aimed at enhancing the efficiency and effectiveness of the Commonwealth * And underscored the importance of strengthening cooperation among member states amid increasing global uncertainty By Duncan Mlanjira Minister of Foreign Affairs & International Cooperation, George Chaponda has called upon the Commonwealth to implement time-bound and high-impact programmes that address…

Rationale questioned behind ACB’s launch of Surveillance Unit vehicle installed with amber lights and sirens

March 10, 2026

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* Can a car — and one car for that matter — that is lebelled ‘ACB Surveillance Unit’ fight corruption? * Careless way of surveillance, this will let the corrupt guys know when they’re coming — it’s another corruption influencer in town * How much did this launch cost? Was it necessary for people to leave their work posts and attend the launch of a single landcruiser? Was this justifiable? By Duncan Mlanjira The Anti-Corruption Bureau (ACB), under acting…