Business – Page 40 – Maravi Express – Your Kind of News. Clear and accurate.

Immigration Department’s new passport issuance system allows express processing in one to two days and the ordinary passport in 10 days

August 29, 2025

* Homeland Security Minister Ching’oma assures that the government is committed to ensuring that every Malawian can access a passport quickly and securely * He personally printed his diplomatic passport and observed the progress under the new Madras security printing system, which replaced the former e-Tech System to improve efficiency, security and service delivery By Duncan Mlanjira Under the new Madras security printing system — to improve efficiency, security and passport service delivery — the Department of Immigration &…

UNICEF’s advocacy led to Malawi Government increasing social sector support budgets in 2024

August 29, 2025

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| Business, Health, National, News

* Government spending on essential services increased in 2023 to 2024, from 29.3%-31%; * On health, including WASH, from 10%-12.6% and social protectionfrom 3%-3.7% * Education was the only social sector in which government support did not increase, by decreasing from 15.7%-14.8% * Malawi’s macro-fiscal challenges – including unsustainable debt, foreign exchange shortages and inflation – threatened social sector investments By Duncan Mlanjira United Nations Children’s Fund (UNICEF)-Malawi applauds the Malawi Government as its strategic development partner — alongside…

CFTC issues 34 notices of infringement to cement traders to explain their price increases with supporting documented evidence

August 28, 2025

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| Business, Law Enforcement, News

A 50kg bag of cement jumped from MK26,000 to MK50,000 * As it initiated processes towards full investigations against the cement price surges by conducting inspections to establish the actual prevailing prices * And availability of cement on the market and whether traders are not engaging in unfair trading practices such as exploitative pricing By Duncan Mlanjira Competition & Fair Trade Commission CFTC has initiated processes towards full investigations against the cement price surges and has since issued 34…

MRA arrests customs clearing agent Rhoda Ndovie for falsifying importation documents of goods on behalf of AFORD and DPP

August 28, 2025

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| Business, Law Enforcement, News, Politics

MRA conducted a search at AFORD president Enoch Chihana’s premises where the goods were allegedly offloaded * Limu Clearing falsified the quantity and value of imported goods — which is alleged to have resulted into evasion of taxes in excess of K300 million * Ndovie is also under investigations of alleged evasion of taxes include value added tax (VAT) by business entities operated by her By Duncan Mlanjira Malawi Revenue Authority (MRA) notifies the public that on Tuesday, August…

Six fined a total of K2.125 million for illegal possession of 2,055 litres fuel

August 27, 2025

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| Business, Courts, Law Enforcement, News

* Kautanda to pay K800,000, Buli K500,000, Moffat K350,000, January K250,000, Jamilah K150,000, and Divason K75,000 * All the convicts paid the fines in full and the court further ordered that the confiscated 2,055 litres of fuel be forfeited to the Malawi Government Maravi Express Second Grade Magistrate’s Court in Mangochi has convicted and fined five men and one woman a total of K2.125 million for possessing 2,055 litres of liquid petroleum without permits — and the fuel has…

CAMA asks presidential aspirants to clearly spell out how resources will be generated to successfully implement their manifestos

August 25, 2025

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| Business, National, News

* Expects to receive responses to questions asked before August 30 — 16 days before the September 16 general elections * Our list of questions has been developed and inspired by your brilliant manifesto that you recently unveiled * CAMA is urging all political parties and their aspirants to provide comprehensive socio-economic recovery plans for the struggling economy * These plans should have; short, intermediate and long-term interventions that will catalyze economic growth By Duncan Mlanjira Consumers Association of…

Mangochi Police confiscate over 3,590 litres of fuel within two days; arrest 7 for illegal possession

August 22, 2025

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| Business, Law Enforcement, News

* Four men and a woman were found with 2,230 litres of fuel and two more men were arrested in possession of 1,360 litres * Mangochi Police are conducting intelligence-driven operations targeting illegal fuel trading within the town * Which is aimed at curbing the rising trend of illegal fuel trading as it negatively affects the country’s economy and national security By Duncan Mlanjira Within two days, police in Mangochi confiscated over 3,590 litres of fuel and arrested seven…

Standard Bank Malawi leads in market capitalisation at MK6.6 trillion; followed by FDH Bank at MK4.7 trillion

August 22, 2025

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| Business, News

* This follows Standard Bank’s recent split of its shares on Malawi Stock Exchange (MSE), thereby strengthening capital market participation and empowering broader financial inclusion * FMB Capital Holdings are 3rd at MK3.5 trillion followed by National Bank of Malawi at K3 trillion and NBS Bank at MK2.6 trillion By Duncan Mlanjira Standard Bank Malawi, which recently split its shares on Malawi Stock Exchange (MSE), thereby strengthening capital market participation and empowering broader financial inclusion, leads in market capitalisation…

CDH Investment Bank posts strong interim results for half year ended June 30, 2025

August 22, 2025

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| Business, News

* The bank will maintain a cautious yet proactive approach, prioritising robust risk management and operational excellence * Its strategic focus will remain strengthening investment in staff development to build a future-ready workforce, expanding digital banking and fintech capabilities * To enhance customer experience while deepening client relationships through customised financial solutions, its forte in the financial services sector in Malawi By Duncan Mlanjira CDH Investment Bank (CDHIB) has reported strong interim results for the half year ended June…

Illovo Sugar Malawi Plc’s shareholders approves US$45m loan from majority shareholder Sucoma Holdings to solve forex-related debt effects

August 20, 2025

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| Business, News

* The company was facing acute foreign currency liquidity constraints due to both limited exports and broader shortage of forex in the market * Given the challenges, the company was unlikely to generate or source adequate foreign currency to service its obligations in the short to long term By Duncan Mlanjira Illovo Sugar Malawi Plc shareholders voted in favour of borrowing US$45 million from majority shareholder, Sucoma Holdings Ltd to help the company avert a foreign currency related credit…