Business – Page 202 – Maravi Express – Your Kind of News. Clear and accurate.

Agriculture Minister Lowe gives dairy farmers hope over regulation of minimumprices

June 2, 2022

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,…

Late pension funds remittance worries Old Mutual Malawi; Punishable under the Pension Act

May 27, 2022

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By Steven Godfrey Mkweteza & Mayamiko Phiri, Correspondents Old Mutual Malawi Plc has raised red flags over the high rate of pension funds remittances by employers — a development which is contributing to poor administration of the contributions. General manager responsible for the pension services for the company, Tawonga Manda said this in Blantyre on Thursday during an interactive trustees’ conference on pension funds, saying many employers are remitting the funds when the employee is either retired or dead….

Nyasa Mobile partners with Vodafone to deliver world-class mobile telephony at competitive prices

May 24, 2022

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The delegation captured at Ndirande Market on Monday * A team of executives from Vodafone is in the country seeking to cement and finalize the partnership * They visited some selected mobile service providers hotspots in Limbe, Bangwe and Ndirande * For the delegation to have a complete analysis of the mobile service vending business in Malawi By Duncan Mlanjira Nyasa Mobile Limited is set to be part of global Vodafone Group after securing a partnership deal in its…

Hill Springs Lodge a place to be for local tourism in Zomba; Offers stately accommodation rooms and sumptuous meals

May 23, 2022

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* The first reaction of Hill Spring’s facade leaves visitors completely bamboozled over in astonishment * The stunning garden and landscape make Hill Springs the perfect filming and photoshoot location for one’s memorable occasion * It has 13 deluxe self-contained rooms of various sizes to suit one’s pocket * All rooms have shower with others having bath tubs complemented by air conditioning, mini fridge, tea & coffee facilities * Hill Springs chefs prepare a variety of high quality, delicious dishes covering…

May 2022 is last month for PTC to be able to pay staff salaries as it has now depleted all its working capital

May 22, 2022

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PTC head office at Ginnery Corner in Blantyre * As PTC management reveal it is receiving personal threats from creditors and continue to put their lives at risks * By trading when they know the company is not capable of paying for the services in the absence of any capital injection * Tafika Holdings does not have the capacity to bail us out in a situation where PTC is declared bankrupt By Duncan Mlanjira Senior management of People’s Trading…

Senior management asks Press Corporation to terminate sale of PTC as Tafika Holdings is failing to honor its part of share purchase agreement

May 22, 2022

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* Tafika Holdings denies allegations quoting social media reports, saying transaction closure will take place in the next few weeks * PTC management maintains terms of the agreement was grossly violated and impacted on PTC as a company, its employees, suppliers and Malawi as an economy * We make this request with a heavy heart as we are accountable for the 615 employees and more than 400 suppliers of various goods and services By Duncan Mlanjira While Tafika Holdings…