Business – Page 269 – Maravi Express – Your Kind of News. Clear and accurate.

Economists say Coronavirus will slam African economies

March 18, 2020

By Simon Marks, Voice of America As the coronavirus spreads across Africa, countries are taking stronger measures to curb its spread and while the restrictions may contain the virus, they will likely have a deep impact on the continent’s economies. With several African governments closing borders, canceling flights and enforcing strict quarantine requirements to curb the spread of the virus, experts say there will be consequences for the continent’s economy. The United Nations said it now estimates Africa’s GDP…

Future of fishing in Lake Malawi looks bleak

March 16, 2020

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By Kondwani Magombo, MANA PACT Malawi Chief of Party, Allan Brooks has cautioned that if unless rules and regulations are fully abided to, the future of fisheries in the country would remain bleak. Brooks shot the warning during the official rollout of a project, Restoring Fisheries for Sustainable Livelihoods in Lake Malawi (REFRESH), at the beach community of Msaka in the area of Senior Chief Nankumba in Mangochi. He described Lake Malawi as the only water body in the…

MEDF on right track in financing the marginalized

March 16, 2020

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By Mayamiko Chimbali & Chikondi Chimala, MANA Malawi Enterprise Development Fund (MEDF) has said it was on the right track after reinventing itself into a competitive modern financial institution. In an exclusive interview with the Malawi News Agency (MANA), MEDF Chief Executive Officer (CEO) Mervis Mangulenje said after having some difficult years in the past, MEDF has improved its operational strategies. “Since 2014, MEDF has got some legacy issues emanating from Malawi Rural Development Fund (MARDEF) and Youth…

Foundations to Malawi’s economic pathway

March 16, 2020

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By Farai Chigaru Malawi’s economy can be fragmented based on the endowments it has — from the fresh waters that habours the tasty fish to the natural resources such as minerals among others. The beautiful weather that beckons good harvests every year can be another advantage for agricultural success. Apart from the natural resources and the pleasant weather, the country is labour abundant — thus from unskilled to skilled labour with the former being in multitude. For a country…

Plan International Malawi graduates 45 youths in TEVETA vocational skills in Machinga

March 13, 2020

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By Duncan Mlanjira There were happy faces all around from the youths, parents and traditional leaders of Namandanje Village in Traditional Authority Liwonde in Machinga District when Plan International Malawi organized a graduation ceremony on Thursday of 45 youths, who have been trained in vocational skills conducted by TEVETA. The youths were trained in tailoring & design; hair dressing; catering; bakery; carpentry; motorbike mechanics; motor vehicle panel beating; welding and bricklaying. Plan International Malawi also presented the graduands with…

Energy is key to drive Malawi economy

March 13, 2020

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By Tione Andsen, MANA Government has said lack of adequate energy in the country has been the single major constraint to the national development, saying the availability of adequate energy would be a key catalyst to the development of the country. Minister of Natural Resources, Energy and Mining, Bintony Kutsaira made the remarks Thursday during the official launch of the Malawi Energy Regulatory Authority (MERA) 2020-2024 Strategic Plan and Service Charter at Bingu International Convention Centre (BICC) in Lilongwe….

MACRA to enhance mail conveyance system to reach out to underserved rural masses

March 11, 2020

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By Duncan Mlanjira In recognition that the majority of Malawians in the rural areas do not have adequate access to postal services, Malawi Communications Regulatory Authority (MACRA) will enhance mail conveyance where private couriers do not reach out. Through its new information and communication technology (ICT) system, the Universal Service Fund, MACRA will work hand in hand with Malawi Post Corporation which already has a proper mail conveyance service but needs to be enhanced. This was announced on…

MACRA sets up system to reach out to rural areas on access to ICT

March 11, 2020

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By Duncan Mlanjira Malawi Communications Regulatory Authority (MACRA) is set to roll out a special system, the Universal Service Fund, to provide means to the majority of Malawians in the rural areas who do not have adequate access to information and communication technology (ICT) services. The Universal Service Fund (US Fund) is MACRA’s new system of subsidies and fees intended to promote universal access to communication services in the country in realizing that the majority of Malawians in…

Shoprite fined K500,000 for alleged supply of expired products and misleading conduct

March 10, 2020

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By Duncan Mlanjira Competition and Fair Trading Commission has fined Shoprite Trading Limited K500,000 for supplying expired products and improperly labelled products. A report that was issued on March 5, says the Commission conducted a surprise inspection at their shop at Chichiri Shopping Mall in Blantyre where it discovered that Shoprite was supplying a range of processed meat products which were either expired or had their expiry date labels tampered with. The Commission says it found the following…

Competition and Fair Trading Commission fines National and Standard Banks

March 10, 2020

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By Duncan Mlanjira Two of the country’s top financial service providers, Standard Bank and National Bank have been fine K500,000 each by the Competition and Fair Trading Commission for Unconscionable Conduct in the Trade of Goods and Services. The decision was made during the Commission’s 54th Meeting in Blantyre on 29th January 2020 where it considered and adjudicated over competition and consumer protection cases. The two banks’ cases were amongst several complaints that were brought before the Commission…