Business – Page 214 – Maravi Express – Your Kind of News. Clear and accurate.

Construction of Shire Valley irrigation canal’s intake needs to be redesigned after been compromised by Cyclone Ana

February 15, 2022

State of destruction on first siphon after intake * Construction works temporary suspended on two affected parts — the intake foundation and part of Siphon 1 * All other structures on the canal are intact; over 4kms of the canal has been lined with concrete * 2 of 3 bridge crossings have been completed and that works on bridge 3 have started By Duncan Mlanjira The Shire Valley Transformation Programme (STVP), through the Ministry of Agriculture, has re-engaged the…

Illovo Sugar Malawi Plc posts K20.5bn net profit representing 647% increase

February 10, 2022

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By Duncan Mlanjira Illovo Sugar Malawi Plc financials for the year ended August 31, 2021 saw a revenue increase of K163 billion from K147 billion during the same period of 2020 which represents an increase of 11%. From this revenue, the company posted K20.5 billion as net profit, representing 647% increase while operating profit had an increase of 293% at K32 billion. The company has declared a dividend of K14 per share but a final dividend of K4 per…

Malawi included in UN Economic Commission’s implementation of complementary technical assistance for SADC’s SME response to CoVID-19

February 9, 2022

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Eunice Kamwendo, ECA subregional office director for southern Africa * Seminar focused on country experiences and a focus on ‘building back better’ in Mauritius * ECA aims to first strengthen the capacities of MSMEs in southern Africa * Target countries for these projects are Malawi, Mauritius, Mozambique, Namibia, South Africa and Zambia * To effectively respond to CoVID-19 and bounce back stronger * Also to strengthen MSME capacities to design and apply innovative approaches to resilience building By Duncan…

Illovo Sugar Plc responds swiftly on its surrounding communities in distress soon after Cyclone Ana

February 8, 2022

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After shocks of the disaster in the Lower Shire * Provided tents and piped water to the flood victims * Refurbished a maize mill to enable communities to continue processing maize for food * Set up the continuing supply of potable (drinking) water to the estate villages and Nchalo trading centre * Completed the temporary repair of the Nchalo/Bereu road to allow for easy movement between Nchalo and Chikwawa boma * Worked in close cooperation with the Government to…

9-month period revenue growth for Airtel Africa Plc at US$3,492m representing 21.7%

February 8, 2022

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* The highlights of the report include constant currency underlying revenue growth that was recorded across all regions * Nigeria up 29.0%, East Africa up 24.4% and Francophone Africa up 19.0% and across all key services * Revenue in Voice up 16.1%, and in Data and Mobile Money both up 37.2% By Duncan Mlanjira Airtel Africa Plc’s results for nine-month period that ended December 31, 2021 indicates that revenue grew to US$3,492 million — representing 21.7% growth while constant…

FDH Bank Plc once more donates towards flood victims through ADRA

February 8, 2022

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FDH Bank’s Hamisi and her colleague Levie Nkulichi handing over the support to Pastor Nyirenda and Board member Dorothy Chapeyama * This comes after FDH Bank Plc contributed K15 million towards DoDMA’s response * As a Group assistance to DoDMA, First Discount House pooled in K7.5m, K5m from FDH Money Bureau for the total of K27.5m * When ADRA reached us with their initiative we found it noble and honourable, hence stepping in to support the cause * This shows how…

Lafarge Cement reverts name to Portland Cement

February 7, 2022

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* Notwithstanding the changes in the name and shareholding, all its products remain unchanged * Huaxin is among the 10 largest cement manufacturing companies globally with 115 million tons capacity By Duncan Mlanjira Following a change in the company’s shareholding from Holcim (formerly Lafarge Holcim to Haxon, Lafarge Cement Malawi Limited has reverted to its original name of Portland Cement Malawi Limited with immediate effect. A public notice issued by company secretary, Constance Musopole informs customers, suppliers, contractors and…

MultiChoice Africa CEO to share opportunities for women in the media and technology industries through virtual conference

February 7, 2022

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Maravi Express MultiChoice Africa CEO, Fhulufhelo Badugela will on February 16 host virtual conference to share her leadership journey and her take on authentic leadership. In a statement, MultiChoice Africa says the 60-minute session will also address breaking down barriers of entry in the workplace and shed some light on MultiChoice’s gender equality agenda ― “topics that Fhulu is passionate about”. “This is one engaging discussion you can’t afford to miss,” said the statement. “She will also share some…

Police pledges not to leave any stone unturned in the investigation of murder of MRA senior officer Alinafe Bonongwe

February 7, 2022

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The late Alinafe Bonongwe described as very passionate of his work Maravi Express Malawi Police Service says investigations are still on going to establish cause of death of Malawi Revenue Authority (MRA) senior officer who was stationed at Dedza Border. Malawi Police says on February 4, 2022, Bonongwe was discovered at his residence at Airfield Location at Dedza Boma lying dead in his bathroom with a piece of loose rope around his neck tied to the shower in an…

Over K18bln needed to restore 32% of power lost from Kapichira due to Cyclone Ana

February 6, 2022

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Minister Matola (centre) being briefed of the extent of damage * Restoration process in progress starting with fixing access road * The first and most important part of repair is Kapichira Dam * It is completely drenched with sand and its equipment destroyed * Some equipment washed away to over 14kms downstream By Duncan Mlanjira The devastation caused by the floods from Tropical Cyclone Ana that hit the Lower Shire last month, extensively damaged resources and equipment at Kapichira…