Category: News

By Duncan Mlanjira The Reserve Bank of Malawi (RBM) is on the drive to consolidate the gains from the various innovations in the digital financial services space to accelerate the shift from paper based payments instruments, such as cash and cheques to electronic based services. In that vein, the RBM on Wednesday organised a conference at Sun ‘n’ Sand in Mangochi that attracted digital financial service stakeholders to appraise them that the transaction cost of using cash, whether by…

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By Duncan Mlanjira Castel Malawi Ltd, which is at risk of closure due to continued decline in sales volume, turnover and heavy excise tax rate, will continue to retrench its staff this month. The French company, which took over management of Carlsberg Malawi Brewery just a few years ago, retrenched close to 200 employees in August. In a recent memo dated 30th September, 2019 signed by Director of Human Resources, Naomi Nyirenda, informs the staff members that the second…

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Castel Malawi has announced a second phase of retrenchments. This follows a memo that was signed by the director of human resources Naomi Nyirenda The company claims that this is a result of financial difficulties that they are facing due to the economic situation. The first phase of the retrenchment came in August 2019 when 200 members of staff were retrenched. Castel is also blaming it’s predicament on high taxes. Commentators are speculating that the current trend indicates that…

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