Business – Page 216 – Maravi Express – Your Kind of News. Clear and accurate.

Bill to amend Financial Services Act to regulate interest rates on loans gazetted in Parliament

November 25, 2021

A private member bill by MP for Dowa West Constituency, Ephraim Abel Kayembe * The objective of the Bill is to iron out challenges Malawians currently face of paying exorbitant interest rates on loans * Interest rates on bank loans and other lending financial institutions have resulted in people’s failure to service their loans * And in some cases leading to seizure of borrowers’ properties they used as collateral on loans obtained By Duncan Mlanjira The Bill that seeks…

FDH Bank’s ‘Go Konko Ndi Flames’ promo receiving overwhelming response; 45 people win prizes in first monthly draw

November 24, 2021

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By Singano Jnr. The enthusiasm people have over the Malawi national football team’s third participation at the 2022 Africa Cup of Nations in Cameroun is manifesting itself as people have overwhelmingly responded to the team’s official sponsor, FDH Bank’s ‘Go Konko Ndi Flames’ promotion. This was during the first monthly draw on Tuesday by Maureen Nalikungwi, FDH Bank’s senior manager-Personal and Banking Department, saying this is a clear indication how excited people are over the Flames’ qualification and participation…

Reserve Bank of Malawi set to convert some banknotes into coins as it unveils K5,000 banknote

November 24, 2021

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* The K2,000 banknote has been above the 60% threshold for sometime and has hovered above 80% * Also to introduce an upgraded K2,000 banknote to make it more secure * It will include modern security features so that it is harder for counterfeiters to copy By Duncan Mlanjira The Reserve Bank of Malawi has unveiled highest banknote of K5,000, an upgrade from the K2,000 and announced that the Central Bank would soon convert some banknotes into coins. At…

MBC taking FAM on ransom to be granted TV broadcasting rights

November 24, 2021

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MBC headquarters in Blantyre * Further inter-parte court injunction hearing set for tomorrow, November 25 * MBC presented wrong information that favoured it to be granted a court injunction * That restrained FAM and Mibawa Studios from broadcasting Airtel Top 8 matches on the weekend of November 13 * MBC refuses to work Mibawa Studios as host and content providers insisting on being sole broadcaster By Duncan Mlanjira Lawyers for Football Association of Malawi (FAM) and its TV host…

Chakwera, Nyusi launch construction work for Mozambique-Malawi power transmission interconnection project at Phombeya

November 23, 2021

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Chakwera and Nyusi unveiling the official launch By Duncan Mlanjira President Filipe Jacinto Nyusi, who arrived in the country on Monday, joined his host counterpart President Lazarus Chakwera to launch the construction works for Mozambique-Malawi power transmission interconnection project at Phombeya in Balaka District on Tuesday. Construction of the interconnection project, from which Malawi is expected to be supplied with 50 megawatts of power, includes construction of 400KV Matambo substation in Tete, Mozambique and 218km of transmission lines from…

Malawian employees’ compensation mechanism fraught with fraud—ECAM

November 22, 2021

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FDH Bank donates K1.5m to ECAM conference to address challenges employers face * We applaud ECAM’ efforts as the ‘voice of the employers * ECAM has strived to protect the rights of employers and letting their voices heard By Duncan Mlanjira One of the topics on the agenda for this year’s Employers Consultative Association of Malawi (ECAM) annual lake conference is set to discuss and address challenges being faced by the social security coverage, which is very low. This…

FDH Bank inculcates cashless business transactions through 3-months ‘FDH POS Swipe & Win’ promotion it organised for clients from July

November 22, 2021

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* Final monthly draw identified 20 winners of K50,000 each worth of shopping vouchers * Nine winners went away with fuel vouchers worth K40,000 each By Duncan Mlanjira FDH Bank says it is pleased that its clients positively responded to the 3-moth promotion it organised that encouraged its clients to utilize its point of sale (POS) services in supermarkets and fuel filling stations in order to inculcate a cashless spirit of doing business transactions. This was said by FDH…

SADC Industrialization & Exhibition Week set to address trading figures amongst the region’s member states

November 22, 2021

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By Kondwani Magombo, MANA The trading patterns amongst Southern African Development Community (SADC) member states is currently very low — at around 20%, which is very low as compared to other regions such as the European Union (EU) where figures go to up to 60%. This was said by SADC Director for Industrial Development & Trade, Dr. Khutula Sibanda at a press briefing ahead of the week-long SADC Industrialization and Exhibition Week that started today, Monday in Lilongwe. Sibanda…

CAMA accuses Government spokespersons of misinforming consumers reasons behind current high prices

November 19, 2021

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By Duncan Mlanjira Consumer Association of Malawi (CAMA) has accused government spokespersons, including Ministers, for misinforming consumers on the reason behind current high prices of commodities, saying they should ensure that they have adequate information regarding its real triggers. In a statement issued on Friday, November 19, CAMA says the “misleading statements that are coming from Government spokespersons and Ministers can be a recipe for unnecessary civil unrest”. CAMA observes that the increase of prices is expected “to…

National Anti-Corruption Alliance calls for removal and replacement of whole MERA Board

November 18, 2021

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Leonnard Chikadya, MERA Board chairperson * MERA is embroiled in controversy that sorrounds appointment of Henry Kachaje as MERA’s CEO * The controversy is exacerbated after one MERA Board member, Pempho Likongwe tendered resignation * After admitting being involved in unethical conduct during the interviews of the MERA CEO By Duncan Mlanjira National Anti-Corruption Alliance — a grouping of Livingstonia Synod of Church of Central African Presbyterian (CCAP), Youth Society (YAS), Malawi Law Society and Centre for Human Rights…