Business – Page 195 – Maravi Express – Your Kind of News. Clear and accurate.

Conflicting public notices from EGENCO and ESCOM on duration of outage of power on Saturday and Sunday

July 28, 2022

ESCOM CEO Kamkwamba Kumwenda, ours is commutative, including normal load shedding * EGENCO first announces it will take 8 hours each day on Tuesday * Only for ESCOM to say the following day it will take 14 hours each day By Duncan Mlanjira In a notice that was issued on Tuesday, July 26, Electricity Generation Company (EGENCO) alerted the public to brace for an outage of power supply on Saturday and Sunday, July 30-31 for 8 hours on both…

Prolonged 14-hour load shedding scheduled for Saturday and Sunday; EGENCO to carry out maintenance works on Nkula A and B

July 27, 2022

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* Nkula B to be shut down first on Saturday thereby reducing power supply by 100MW off the national grid * And losing 135MW the following day when both Nkula B and Nkula A would be shut down * Only 176MW will be available on Saturday and 140MW on Sunday for essential services such as referral hospitals and water pumping stations By Duncan Mlanjira Electricity Supply Corporation of Malawi (ESCOM) has alerted the public to brace for a prolonged…

NICO Group aims to focus on ‘Business Growth’ in its next 5-year strategic plan

July 26, 2022

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* Our focus within that period was to consolidate and strengthen our operations * Which would manifest itself by strong financial position besides good performance in terms of profit By Victor Singano Jnr, Correspondent Malawi’s leading financial services institution company, NICO Group says it is targeting to dwell much on business growth in its next 5-year 2022-2026 strategic plan which is set to afford its clients to enjoy the Group’s best services. At the company’s ‘Stakeholders Engagement Meeting’ on…

High Court rules in favour of ESCOM in injunction case filed by Chinese company

July 26, 2022

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* Zhang Di t/a Yangtse sought the court’s intervention following ESCOM’s decision to reverse unauthorised transfer of electricity to the company’s meters and illegal consumption of electricity totalling K46 million By Peter Kanjere, ESCOM PRO officer The High Court’s Commercial Division in Blantyre has rejected an injunction application which Chinese company, Zhang Di t/a Yangtse made stopping the Electricity Supply Corporation of Malawi (ESCOM) from deducting the firm’s 60% of every new electricity purchase. Lawyer Chrispin Ngunde of Tamandani…

Mzimba communities applaud government for social cash transfer program

July 26, 2022

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Beneficiary Mwazama (left) having a chat with DC Rodney Simwaka * I have managed to embark on animal and poultry farming—57-year-old beneficiary, Nixon Mwazama * I now have 26 local chickens, 10 ducks and six goats and next I will build a modern house By Aliko Munde, MANA Beneficiaries of social cash transfer program in Mzimba South District have applauded government for the initiative, which they say will go a long way in improving their livelihoods. One of the…

ActionAid raised red flags in 2015 on “harmful” tax incentives that Malawi government awarded to Australian mining company Paladin

July 26, 2022

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* This money could have paid for 431,000 annual HIV/AIDS treatments * or 17,000 annual nurses salaries; * or 8,500 annual doctors’ salaries * or 39,000 annual teachers salaries By Duncan Mlanjira ActionAid, the global federation working for a world free from poverty and injustice, contended in a issued in 2015 that Malawi, “the poorest country in the world, lost out on US$43 million in revenue from 2009 to 2015 from a single company — the Australian mining company…

Globe Internet Ltd offended that MACRA “scared” its customers when imposing regulatory sanctions on the company

July 22, 2022

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* Globe Internet using frequencies in the 700 MHz frequency band from April 1, 2022 without a frequency spectrum licence from MACRA * Further warns customers that use wireless internet services may be affected when the sanction becomes operational * MACRA maintains it is only protecting the interests of the customers by ensuring that they are not inconvenienced * The statement that MACRA has issued is within the mandate of raising proper awareness around communication services By Duncan Mlanjira…

ESCOM upgrading power sub-stations in Kanengo and parts of old town

July 20, 2022

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Power infrastructure for ESCOM * Ministry of Energy to orient media on its operations * The project will help facilitate power supply consistency and assist in the realization of the MW2063 By Twimepoki Mangani, MANA Co-funded with Japan International Cooperation Agency (JICA), Electricity Supply Corporation of Malawi (ESCOM) is upgrading power sub-stations in Kanengo and parts of old town in the Capital City, Lilongwe to address challenges being faced due to power supply limitations. At the ground breaking ceremony…

CDH Investment Bank invests K2m towards CEO’s summit scheduled for July 29-30

July 19, 2022

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Mosiwa-Ndovi presenting CDH’s contribution to Chima (right) * Summit is under the theme: ‘Catalyzing Our Economic Growth Through Partnerships and Radical Investment’ * CEO’s from various companies and organizations to share ideas on growth of economy and creation of conducive business environment By Victor Singano Jnr, Correspondent CDH Investment Bank contributed K2 million towards Malawi companies Chief Executive Officer’s (CEO) Summit scheduled from 29-30 July at Bingu International Conference Centre (BICC) in Lilongwe. Under the theme: ‘Catalyzing Our Economic…

ESCOM losing 5 transformers every month due to vandalism

July 19, 2022

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A transformer that’s usually targeted for by saboteurs * Over 400 transformers currently lost due to vandalism across the country * Very costly to replace them as one costs around K4 million * ESCOM needs about K2 billion every year to replace vandalised transformers By Loness Gwazanga, MANA As the country keep experiencing power load shedding due to many factors that include loss of 130 megawatts lost at Kapichira Hydro Power Station due to Cyclone Ana in January, Electricity…