Business – Page 197 – Maravi Express – Your Kind of News. Clear and accurate.

PTC Board suspends all 8 signatories to letter asking Press Corporation to terminate sale of PTC

June 6, 2022

Signatories to the letter sent to Press Corporation * Tafika Holdings reportedly still hasn’t honoured its part of share purchase agreement * Malola travel and other expenses from South Africa are being funded by PTC * Company is failing to do business with other suppliers on credit line because Tafika owes them money from other business transactions By Duncan Mlanjira The Board of People’s Trading Centre (PTC) has suspended all 8 signatories to the letter which the senior management…

Ecobank launches free SME booster training series to support small & medium enterprises

June 3, 2022

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| Business, News

Registration link available on Ecobank Facebook page * Geared to provide a comprehensive suite of financial and non-financial solutions to MSMEs * In order to help them reach their full potential and increase their commercial and economic impact By Victor Singano Jnr, Correspondent The country’s leading Pan-African banking group, Ecobank has rolled out its ‘Ecobank Small & medium Enterprises (SMEs) Booster Series’ — which is aimed at enhancing competitiveness through innovative business skills trainings across Malawi and Africa at…

Japan hands over K2.5bn airport ground support equipment to Malawi

June 3, 2022

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| Business, National, News

The state-of-the-art equipment By Leonard Masauli, MANA Lilongwe Handling Company (LIHACO) is expected to improve its effectiveness and efficiency of operations following a donation from the Japanese government of a K2.5 billion airport ground support equipment. At the handover ceremony held on Thursday at Kamuzu International Airport, Japanese Ambassador, Satoshi Iwakiri said the procurement of the equipment was part of a project meant to expand the terminal building at the airport, among other support services. The Ambassador noted that…

PUMA assures customers of quality services as Thondwe Filling Station opens

June 3, 2022

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The magnificent structure at Thondwe * The filling station underscores Puma’s commitment towards customer excellence and driving the economic growth in the country * We expect to grow with this country because Malawi has great potential for growth and we are happy to be part of this Victor Singano Jnr, Correspondent At the opening of Thondwe Filling Station in Zomba on Wednesday, Puma Energy Malawi Limited assured it’s customers of total adherence to its obligation of being customer-centric and…

MRA strengthens staff integrity by establishing internal affairs investigation division

June 2, 2022

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MRA Commisioner General John Biziwick * It is mandated to not even spare the Commissioner General himself in its investigations on corruption * Including nepotism, sexual harassment in order to foster an ethical and high-performance culture * Also mandated to audit staff lifestyle; asset verification of declared assets and liabilities * Internal Affairs Division is most common in developed world in security agencies, tax revenue authority and other public institutions By Duncan Mlanjira In order to strengthen staff integrity…

Agriculture Minister Lowe gives dairy farmers hope over regulation of minimumprices

June 2, 2022

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| Agriculture, Business, News

Minister Lowe appreciating some dairy cattle * It is disheartening to note dairy farmers toil to feed the cattle with recommended food rations * And protect them from pests and diseases yet at the end of it all are being offered low prices by milk processors By Tikondane Vega & Stewart Majiga, MANA Minister of Agriculture, Lobin Lowe said government would speed up the process of establishing a national milk marketing board to control milk production and regulate minimum…

MRA collects K130bln in April alone in the effort to achieve revenue target of K1.518 trillion for 2022-2023 fiscal year

June 2, 2022

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* April 2022 target was set at K124.57 billion, thus exceeding by K5.88 billion * Performance translates to a nominal growth of 22.3% compared to K106.65bln collected in April 2021 * Commissioner General Biziwick commits to engage with media every quarter for revenue performances By Duncan Mlanjira For the 2022-2023 fiscal year that started from April, Malawi Revenue Authority (MRA) set a target K1.518 trillion and in its first month, the Authority has already collected K130 billion. This is…

Zanga-Zanga Chikhosi relieved of his post as Secretary to the President; Replaced by head of Presidential Delivery Unit, Colleen Zamba

June 1, 2022

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Colleen Zamba * As President Chakwera builds a robust monitoring system that ensures strict adherence to control government spending * I know that the realignment of the kwacha is painful, but it’s because we are putting a dislocated joint back in its place * Both decisions are part of our ongoing efforts to cure our economy of the failed economic policies of the past By Duncan Mlanjira In announcing strict measures on government spending, President Lazarus Chakwera has relieved…

Price of sugar up by 22% from K900/kg to K1,100

May 30, 2022

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* Last month, there was scarcity of sugar which led traders to increase prices of the commodity * Against the then recommended price of K900/kg to as high as K1,500/kg for brown sugar * Even after sugar was flooded on the market, most traders still maintained high prices * Some selling at K1,000 and following the increase, they are bound to peg it higher than K1,100 By Duncan Mlanjira With effect from Monday, May 30, Illovo Sugar Malawi Plc…

NICO Pension declares significant 14% bonus for NICO Ufulu unrestricted fund

May 30, 2022

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* Up from 9.3% bonus it declared in 2020 financial year * The 14% bonus is the net after meeting all other requirements such as tax and other costs * Clients also reassured that the NICO Ufulu unrestricted fund is economically stable * And very secured since it is insured with NICO Life, such that any shocks to the economy is recovered By Duncan Mlanjira Despite the economic challenges the country is facing due to the global CoVID-19 pandemic,…