Business – Page 251 – Maravi Express – Your Kind of News. Clear and accurate.

NICO Group and its SA business partner Sanlam donate hospital equipment to 3 Malawi central hospitals

October 1, 2020

Maravi Express South African company, Sanlam Group joined its Malawi business partner NICO Group, to further support government’s fight against COVID-19 pandemic by donating medical equipment to three of the country’s referral hospitals — Kamuzu Central (KCH), Mzuzu Central (MCH) and Queen Elizabeth (QECH) — worth K44 million. The donation, done through the Ministry of Health, answers calls to corporates and other stakeholders to assist in the COVID-19 fight and it follows several drives that NICO Group has undertaken…

MEDF rebrands to NEEF: New loans to be disbursed soon

September 30, 2020

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By Duncan Mlanjira The Ministry of Finance says the Malawi Enterprise Development Fund (MEDF) has rebranded to National Economic Empowerment Fund (NEEF) Limited and is ready to start disbursing loans soon to all illegible Malawians using new loan application forms that will be distributed free of charge. A statement from the Secretary to the Treasury, Chauncy Simwaka says this follows the announcement made by Finance Minister Felix Mlusu during his presentation of the 2020/21 Budget Statement in Parliament in…

Wildlife conservation not spared in the containment of COVID-19

September 30, 2020

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Maravi Express As the world continues to grapple with the COVID-19 pandemic, it has never been more important to have in place measures to mitigate the impact of the pandemic to ensure that wildlife as well as its environments’ protectors are equally taken care of. Thus in its resolution to support its staff on the frontline of its projects around the world, the International Fund for Animal Welfare (IFAW) hosted a ‘Voices From The Field’ webinar with senior…

High Court sustains forfeiture of over K120m funds for Ideal Stationery

September 30, 2020

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By Duncan Mlanjira The High Court in Lilongwe has ruled that K120,917,295.60 that the Financial Intelligence Authority (FIA) ordered National Bank of Malawi to freeze an account of Lucy Rachael Sukali (trading as Ideal Stationery) be maintained and that the forfeited funds should be put in the Confiscation Fund. Judge Charles Mkandawire ruled this forfeiture in pursuant to section 74(1) (b) of the Financial Crimes Act as the transaction of the said funds constitutes proceeds of crime. Facts of…

HIDCO realigns itself after tremendous growth of the first-ever housing cooperative

September 25, 2020

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By Duncan Mlanjira Housing Investment and Development Cooperative (HIDCO) has made tremendous growth in just a year of its existence and has since aligned itself strategically by making several management changes and appointments. Its membership has grown from 31 in December 2019 to 53 in August 2020 while shares have more than doubled from K26 million to over K63 million. Its assets have also grown from K42 million to K116 million while net profit has grown from K14 million…

Conflicting reports on businessman who died in hands of MRA officers at Songwe Border

September 24, 2020

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By Duncan Mlanjira Angry business persons from Mzuzu and Lilongwe took a coffin having the remains of business person, Denis Katsache to Malawi Revenue Authority (MRA) offices in Mzuzu in protest that the man died when his blood pressure went up following allegations of harassment by MRA officers. Reports on social media quoting the businessman’s friends indicate that late Katsache entered Malawi through Songwe Border in Karonga with a truck full of drinks from Tanzania and is alleged to…

Malawi tobacco industry on right track to eliminate child and forced labour

September 24, 2020

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By Duncan Mlanjira Malawi, which was the only country globally that was red flagged for worst form of child and forced labour, has currently made moderate advancement in efforts to eliminate this practice. On November 1, 2019, the US Customs and Border Protection (CBP) issued a withhold release order (WRO) on tobacco and products containing tobacco from Malawi and upon receiving the WRO, importers were supposed to engage themselves and demonstrate that no child or forced labour was used…

Times Group MD Chikadya appointed as MERA chairperson

September 24, 2020

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By Duncan Mlanjira Times Group Managing Director, Leonnard Chikadya has been appointed as chairperson of Board of Directors for Malawi Energy Regulatory Authority (MERA). Other members are Thokozani Chimkono, Pemphero Likongwe, Lameck Ntchembe and Alexandr Kalanda while ex-officios are Secretary for Energy, Director of Energy Affairs, Comptroller of Statutory Corporations, Secretary to the Treasury and MERA’s Chief Executive Officer. MERA’s Board plays a crucial role in determining fuel prices in the country under the recommendation of MERA’s Liquid Fuels…

Philip Morris International ranked second on 2020 Tobacco Transformation Index

September 24, 2020

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By Duncan Mlanjira One of Malawi’s biggest buyers of tobacco, Philip Morris International (PMI), has been ranked second in the world as a tobacco company that is reducing tobacco harm, lowering health risks and mitigating the world’s smoking burden. This is published in the newly-introduced Tobacco Transformation Index, that is set to be providing comprehensive metrics and insights into how some of world’s 15 largest tobacco companies are deploying (or not deploying) their capital and other resources in…

SPARC Systems consolidates its operations in Rwanda; Places Malawian as group head of sales

September 22, 2020

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By Duncan Mlanjira Ever since one of the country’s top ICT companies, SPARC Systems Limited opened offices in Rwanda, it has given the company access to many East African markets and to consolidate its operations, it is relocating the position of group head of sales and marketing to be based in Kigali. From the internal applications from all offices in Malawi, Zambia and Rwanda, Malawian Harry Kasandala stood out as the most qualified person to take up the post….