Business – Page 171 – Maravi Express – Your Kind of News. Clear and accurate.

Illovo Sugar Malawi distances itself from a competition guised as being organised by the company

February 12, 2023

* Illovo is not celebrating such anniversary, and this is false * The public is advised to treat this competition as spam By Duncan Mlanjira Illovo Sugar Malawi Plc has described as spam an invitation to participate in a competition advertised in its name, warning the public that it is completely fake. In a statement posted on its social media platform where such competitions and promotions are posted, Illovo Sugar said the announcement circulating on social media platforms claims…

Standard Bank joins largest local-currency financed arrangement with government at K34.5bln investment for Kenyatta-Mzimba road network

February 11, 2023

| No Comments

| Business, National, News

The financiers’ CEOs singing the deal * The agreement binds the Roads Fund Administration as project implementor * And Standard Bank Plc as the lead financier and joint arrangers, Old Mutual and Continental Asset Management as co-financiers By Duncan Mlanjira Malawi Government has hailed Standard Bank of Malawi Plc for partnering with it towards improvement of Lilongwe’s transport network after signing a K34.5 billion investment towards rehabilitation of Kenyatta and Mzimba road network. This is the largest local-currency financed…

MUST committed to protect young Malawians’ talent innovations

February 11, 2023

| No Comments

| Business, Education, News

Young innovator Stewart Nankhumwa explaining how his WiFi innovation works * Our main target when we identify these young people is to protect and value to their innovations * This program runs over a year, even two years, and the plan is to cherish their ability By Victor Singano Jnr, Correspondent Malawi University of Science and Technology (MUST) says it is committed to monitor and provide enough protection to young Malawians who have various innovation ideas in order to…

NICO General awards best brokers

February 11, 2023

| No Comments

| Business, News

The brokers pose for a group picture with NICO management after the awards * The importance of their presence cannot and should not go unnoticed * but rather be recognized in a special way and make sure they are well taken care of By Victor Singano Jnr, Correspondent As one way of appreciating the good effort and strengthening relationship among its stakeholders, NICO General on Thursday awarded the best performing brokers of 2022. The awards were presented at a…

Postal services play a key role in national socio-economic development—MACRA

February 11, 2023

| No Comments

| Business, National, News

* Facilitation of communication within the country and with the rest of the world * Facilitation of trade, through the movement of parcels and other goods within the country and internationally * Rural development and poverty alleviation through employment creation * Provision of money transfer services, micro-finance services, etc By Duncan Mlanjira In commemorating the 2022 World Post Day in Ntcheu where Malawi Communication Regulatory Authority (MACRA) handed over a refurbished and re-equipped computer lab for its Data Centre,…

Inkosi ya Makhosi Gomani V applauds MACRA for re-investing Ntcheu’s Data Centre with modern equipment

February 11, 2023

| No Comments

| Business, National, News

The Ngwenyama and Minister Kunkuyu unveil the refurbished facility * Malawi, including Ntcheu, should not be left behind in being provided with reliable technology services * The Data Centre will surely assist the District Council, as well as members of the public * To access modern way of doing various services and on behalf of people of Ntcheu, I thank you By Duncan Mlanjira In celebrating the World Post Day, Malawi Communication Regulatory Authority (MACRA) has refurbished computer lab…

Illovo Sugar Malawi donates cholera medical supplies worth K20m to Limbe Health Centre

February 11, 2023

| No Comments

| Business, Health, News

Katandula hands over the medical supplies to Facility Incharge, Dorah Mwafulirwa * Blantyre is one of the districts which has been hit hard with cholera cases at 6,032 cumulative and 186 deaths as of Friday * When the first cases were reported, we did not expect the figures to rise as fast as they did * But come December and January this year, it was like an explosion of cholera cases with over 200 cases reported per day *…

ESCOM introduces advanced industrial LED Tube to reduce 30% of lighting power demand

February 8, 2023

| No Comments

| Business, National, News

* Targeting replacement of 415,000 fluorescent tubes to save over 9.3 megawatts (MW) on the national grid * Electricity lighting is estimated to account for around 30% of power demand in the country * Lighting is thus a very important aspect of the demand that ESCOM had to consider * In addressing electricity demand-capacity gap in the county through public awareness campaigns and direct interventions By Duncan Mlanjira Electricity Supply Corporation of Malawi (ESCOM) has introduced and advanced LED…

Malawi Energy Minister Matola featured highly in worldwide call for global early warning systems to protect energy infrastructure

February 8, 2023

| No Comments

| Business, International, National, News

Matola: Everyone is impacted by the reality of climate change * As well as to protect vulnerable populations as storms cost lives and so do blackouts * Here in Malawi, I’m confident that we wouldn’t be in the present situation if this system had been in place * When Cyclone Ana knocked out the Kapichira, we lost 130 megawatts (MW) of capacity, leaving us with persistent blackouts * People lost businesses that rely on electricity — because energy is…

Illovo Sugar Malawi net profit increases by 30% from K20.5bn to K26.6bn; Dividend declared at K14.9bln

February 8, 2023

| No Comments

| Business, News

Illovo MD addressing the investors * Key challenges faced during the period included high rates of inflation on key inputs and forex shortages * 2023-2027 strategy is to safely produce at least 330,000 tons of sugar per year through improved agricultural yields * Exports voluntarily suspended to meet domestic consumption to protect supply and demand By Duncan Mlanjira Illovo Sugar Malawi Plc announced that the company has made a net profit of K26.6 billion in the 2022 financial year…