Business – Page 245 – Maravi Express – Your Kind of News. Clear and accurate.

ESCOM Staff Union petitions Ministry of Labour on alleged illegal setting up of independent power market company

October 15, 2020

By Duncan Mlanjira Electricity Supply Corporation of Malawi (ESCOM) Staff Union (ESU) has sent a petition to the Ministry of Labour reporting that they are in dispute with its executive management over further unbundling of the power utility by setting up of Power Market Limited (PML). Setting up of PML — in line with public reforms — ESCOM’s Single Buyer Function (SBF) has been curved out to form an independent function under the new company, PML. According to the…

Faizal Aboo challenges Suleiman to provide evidence that 80% of Limbe is owned by two individuals

October 13, 2020

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By Duncan Mlanjira Faizal Aboo, owner of Pacific Group of Companies, has challenged MP for Blantyre South East Constituency, Sameer Suleiman to provide evidence of the assertion he made last Thursday, October 8 that that 80% of Limbe is currently owned by two individuals of Asian origin. Suleiman made serious allegations on land ownership that is being grabbed by Malawians of Asian origin but fail short of revealing their names. However, in a public statement and taking cognizance that…

HRDC adds credence to concerns raised by EIB on LWB’s CEO Godfrey Itaye

October 12, 2020

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By Duncan Mlanjira Human Rights Defenders Coalition (HRDC) has written the government lending its credence to the concerns expressed by European Investment Bank (EIB) over the deploying of Godfrey Itaye — answering alleged charges of fraud and corruption — to become Chief Executive Officer for Lilongwe Water Board (LWB). The EIB has written the Ministry of Finance that it has considered the request to increase the financing of the project — under Lilongwe Drought Resilience Programme — from Euro12.5…

Malawian business executive Ndawala amongst 4 experts to speak at international virtual conference on transfer pricing in Africa

October 12, 2020

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By Duncan Mlanjira Malawian business executive, Bonface Ndawala has been identified as one of the four experts that will deliver presentations at an international virtual conference that has been organised on October20-21 to explore reducing of transfer pricing audit risk in Africa. The conference, organised by Informa — a global research group and a top FTSE 100 company listed on the London Stock Exchange, will tackle how the topic affects corporations doing business in Africa or have subsidiaries or…

I will not cry gender if capable women would fill up all CEO positions in all parastals — Charles Simango

October 12, 2020

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By Duncan Mlanjira Revered seasoned journalist and social media commentator, Charles Simango, in his views on women rights advocates’ demonstrations against the under-representation of women in boards of directors of parastatals, believes in the representation by the best of the best based on their track record — and not on gender. “Yes, we can protest and do all we can to bring attention to the under-representation of women or any group of people in Malawi but that would be…

Corruption allegations involving LWB CEO Itaye risks derailing funding from EIB for construction of Lilongwe’s water treatment works

October 12, 2020

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By Duncan Mlanjira The European Investment Bank (EIB) has attached serious conditions in order to approve Malawi’s request made in May 2020 to increase financing of the construction of Lilongwe’s treatment works (TWIII) following corruption allegations involving Lilongwe Water Board (LWB) Chief Executive Officer, Godfrey Itaye. The EIB has written Ministry of Finance that it has considered the request to increase the financing of the project — under Lilongwe Drought Resilience Programme — from Euro12.5 million to Euro15 million….

Neno Councillor asks for road upgrade to match state-of-art technical centre that is to be built

October 12, 2020

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By Duncan Mlanjira Ministry of Youth & Sports is constructing four state-of-the-art community vocational training colleges in Neno, Karonga, Nkhotakota and Phalombe — whose official ground breaking was commissioned by Minister Ulemu Msungama on Saturday at Neno Boma. The project, funded through a MK2 billion loan and grant from the African Development Bank, is set to uplift the faces of the four communities — Ngara in Karonga, Mbandira in Nkhotakota, Naminjiya in Phalombe and at the Neno Boma. In…

NBS Bank, MPC in partnership for customers to access banking services in post offices countrywide

October 11, 2020

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By Tikondane Vega, MANA NBS Bank has partnered with Malawi Posts Corporation (MPC) by creating all post offices countrywide as banking agencies for people to access all their banking services. NBS Bank Chief Treasury and Globe Market Officer, Benedicto Nkhoma said the partnership between NBS Bank and MPC dates back to 2012, noting that MPC was its first partner and a first bank agent in Malawi. Nkhoma said the main objective for the partnership was financial inclusion — mainly…

COVID-19 could drive up to 40m in Africa into extreme poverty in 2020; Erasing 5 years of progress in fighting poverty

October 9, 2020

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The World Bank Driven by the economic fallout of the COVID-19 global pandemic, growth in sub-Saharan Africa is predicted to fall to -3.3% in 2020, pushing the region into its first recession in 25 years, according to the latest regional economic analysis — Africa’s Pulse: Charting the Road to Recovery. The pandemic could also drive up to 40 million people into extreme poverty in Africa in 2020, erasing at least five years of progress in fighting poverty. With over…

Simbi Phiri’s Khato Civils also undertaking huge water project in Botswana

October 8, 2020

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By Duncan Mlanjira Just like the Khato Civils water pipeline project from the Lake Malawi district of Salima to the Capital City Lilongwe, from which all the communities along the pipeline will benefit with clean and easily accessible water supply, the South Africa-based Malawian company is also undertaking similar project in Botswana from which about 700,000 people in Greater Gaborone are expected to benefit. The 12-month project in Botswana started on 1st May, 2020 with initial works such as…