Unlocking the potential of onion farming

* Small-scale farmers account for over 80% of the country’s onion production * Which generates approximately K12 billion in revenue annually from both domestic sales and exports * To neighbouring countries like Zambia, Tanzania and Mozambique By Hastings Yobe, MANA Smallholder farmers are the backbone of the country’s agriculture sector and onion farming has emerged as a lucrative opportunity for them to boost their income and improve their livelihoods. Despite the challenges they face, these farmers have shown remarkable…

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Standard Bank market value crosses K1 trillion mark

During the AGM last week * At our recent AGM in Blantyre, shareholders expressed satisfaction in our net profit record in the three years * Thanks to their support, we remain focused on creating long-term value for our shareholders, customers, and the broader economy Maravi Express The share price of Standard Bank Plc on Monday soared to MK4,400 propelling the company’s market capitalisation to surpass MK1 trillion mark. A trading report at the Malawi Stock Exchange (MSE) shows Standard…

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The political arrests that keep occurring in Malawi have economic consequences

* There is need to be cautious of the image the country is creating, as some news of the arrests are attracting international attention * Malawi economy is facing enormous challenges to sustain a high level of economic growth rate * That can support job creation, deal with forex challenges, creating a strong domestic revenue base and foreign investment levels that are relatively low among others By Chifipa Mhango, Chief Economist @ Don Consultancy Group The Malawi Government, through…

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Public ridicule what Lilongwe City Council touts as new international bus station

* It was designed by some architect and approved by well learned, well travelled officers of the Capital City Council * And no — it was not opened in 1980, it is actually being opened today, 24th June 2024 By Duncan Mlanjira Lilongwe City Council has ordered all bus operators, local or international, to relocate to a place it has constructed as new international bus station — what the Council is touting as a Grand Business Park. Signed by…

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NGO Regulatory Authority no longer to give warnings to non-compliant NGOs but to take legal action

* The Authority has also written service providers to ensure that they only provide services to compliant NGOs * In addition, the NGORA website, myNGO.ngora.mw system shall automatically remove all NGOs that have not been compliant for the past three years * In that regard, such NGOs shall be considered unregistered and will not be allowed to operate in the country By Duncan Mlanjira NGO Regulatory Authority (NGORA) will no longer be giving warnings to non-compliant non-governmental organisations (NGOs)…

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Standard Bank shareholders applaud performance; to pocket K25.4bn in dividends

Standard Bank Plc Board and Management after the AGM * Register a net profit of K52.5 billion — representing a 34% increase over 2022 * We’re grateful for the impressive results registered so far. They show tremendous progress and hard work is being put in Maravi Express Standard Bank Plc shareholders will smile to the bank to withdraw a total dividend of K25.4 billion or K108.24 per share for the financial year ended December 31, 2023, the bank’s annual…

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AfreximBank, FDH Bank Plc sign US$15 million medium term loan facility agreement

FDH Bank’s George Chitera (right) signing the deal at the AfrixemBank AGM * Through the business deal, FDH Bank will increase its capacity to structure complex trade finance solutions for its clients * As a bank, we believe in our ability and potential to grow the business and to realise that potential, we also leverage on our strategic partnerships * To strength our capacity and create bespoke financial solutions which will reshape and drive Intra and Extra Africa Trade…

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Karonga District Council to relocate rice and groundnut mills in heart of town

* Heaps of rice chaffs and groundnut pods have piled up in Karonga’s central business district * Town plan shows that where they are operating is not a commercial area, thus to relocate them to a place befitting their business By Felix Katemula & George Mponda, MANA To address people’s concerns over environmental and health hazards caused by rice and groundnuts mill shellers which are operating in the heart of Karonga Town, the District Council plans to relocate them…

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Standard Bank Chief Executive Madinga elected Bankers Association president

* FDH Bank’s Managing Director Noel Mkulichi as 1st vice-president and FCB’s CEO Jazza as 2nd VP * The association is optimistic that the new executive team will foster continued growth of the financial sector By Duncan Mlanjira Standard Bank Plc Chief Executive, Phillip Madinga has been elected president of Bankers Association of Malawi (BAM) — a body that advocates for a strong, competitive and innovative banking industry to deliver excellent and equitable outcomes for customers. The first vice-president…

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National Advocacy Platform calls Chakwera to appoint a Vice-President who should embody the vision and values that Chilima upheld

* The incoming Vice-President must be able to unify the nation and lead us through this period of collective healing * The President faces significant pressures, but this decision must transcend political interests * The future of our nation depends on choosing a capable, dedicated leader committed to our collective goals By Duncan Mlanjira As the 7-day period elapsed which President Lazarus Chakwera is required by law to appoint a replacement of the Vice-President after his death, National Advocacy…

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