Business

As world business is becoming more digital, different enterprises in Malawi including the civil society are also embracing automation to improve productivity and sustainability. Glue Up, is a global software company with offices based in South Africa. It specializes in providing member-based organizations with digital solutions focused on automation and engagement. The company is offering to bridge the divide by providing solutions that are already integrated and tested so that customers benefit more. Itumeleng Selowa, a Sales Development Representative at Glue Up says the company has merged automation solutions and digitalization applications to enable different tools that most organizations use every day to communicate and interact with each other. These integrations will make work...

Petroleum Importers Limited (PIL), a consortium of private oil marketing companies has re-launched cargo train fuel transportation using Nacala Logistics fuel wagons, which will reduce costs and benefit the consumer in the long run. Speaking during the first offload of fuel from cargo train wagons after a seven month break at Total energies Malawi Limbe Depot, PIL General Manager Martin Msimuko said they intend to increase the use of transporting fuel through cargo trains to 20 % by the end of the year. Currently the ratio is at 5%. “Our shareholders (Puma, Petroda, Total and Vivo) believe that rail transport is a solution for fuel transportation in Malawi as it has several advantages and just to mention a few, low cost of transport as it can bring more wagons at once with less losses an...

Listed NBS Bank has launched ‘Kachangu’ payday loan, a digitized, immediate, advanced loan for salaried employees accessed through the Bank’s website link and its digital platforms. Speaking during the launch in Blantyre, NBS Bank Transactional Products and Services Manager Esnart Mchembe said the ‘Kachangu’ payday loan will help their customers to meet their short-term financial needs while avoiding dealing with loan sharks. “This ‘Kachangu’ payday loan will help our customers get between K30,000 and K1 million as an emergency within the course of the month which will be payable at the end of that month. It is a cheap system where our customers can access the loans without going to the bank or filling some forms, it is instant,” said Mchembe. She said all the customers need to do is to...

Old Mutual has declared 11 percent bonus on its Guaranteed Fund for the year 2021which is above inflation which is averaged at 9.3% in 2021. Old Mutual announced this at a cocktail held on Friday 10 June 2022 at the Bingu International Convention Centre (BICC) in Lilongwe. The event which brought together the company’s varying clients was as well graced by its leadership including the Group Chief Executive Officer (CEO) Mrs. Edith Jiya. Making her presentation, Mrs. Jiya said the cocktail offered the company an opportunity to communicate a very important milestone that it has made in its pension flagship program, the Guaranteed Fund. She said it was refreshing to again host the event after a two year break due to the Covid 19 global pandemic which made gatherings impossible. “...

By Staff Writer: Over 140 local and foreign companies have registered for the first ever Private Sector Labs being championed by President Lazarus McCarthy Chakwera. On May 20 this year, Chakwera ordered the Presidential Delivery Unit (PDU) to coordinate the Private sector labs alongside the Ministry of Trade and the Malawi Investment and Trade Centre. Following the announcement, the PDU floated an advert calling for expression of interest from interested private sector players. Speaking in an interview on behalf of the Head of the PDU, Director at PDU Hendrina Givah said they have received an overwhelming response from both local and foreign companies. “I can confirm that over 140 local and foreign companies have registered for the first ever Private Sector Labs. These comp...

By Staff Writer: Listed and home grown FDH Bank has launched a new promotion dubbed ‘Kukonza Tsogolo’ which aims at promoting the saving culture amongst its customers and prospective customers. Speaking in Blantyre during the launch of the promotion, FDH Bank Head of Personal and Business Banking Kawawa Msapato said as a homegrown bank, FDH Bank believes that investment and savings culture remains paramount to the growth of individuals and the country at large. “As a homegrown responsible financial institution, we like to promote this culture so that we not only provide our customers with banking services but we also add value to their lives at large. We aim to see our customers grow and achieve big dreams with the support of FDH Bank plc,” said Msapato. The promotion runs from 6 June ...

All set for Grand Draw on June 10 By Staff Writer: In less than 10 days—Friday, June 10, 2022—history will be made when one lucky TNM Mpamba customer will win K100 Million jackpot during the grand draw of Kuikunga ndi Mpamba promotion. The winner of the K100 Million jackpot will share half of his cash prize (K50 million) with other TNM Mpamba (group members), thus expanding the benefit to the wider community. TNM’s Head of Brand & Marketing, Madalitso Jonazi said all is set for the company to select the winners and share the spoils. “This is a first in the history of consumer promotions for K100 Million to be won by one person. Unlike in gaming or gambling where one’s odds can’t be predicted, what is certain is that any customer who has used Mpamba has contributed to the...

By Yamikani Yapuwa: Ministry of Trade and Industry has cautioned business entities who have taken an opportunity over the devaluation of Kwacha to hoard essential commodities and charge excessive prices to desist from the conduct. A Press release issued on Wednesday signed by the Minister of Trade and Industry, Mark Katsonga said the entities are doing this with the intention of creating unnecessary shortage so that they over price their commodities. “It has come to the attention of the Ministry that following the announcement of a 25 percent devaluation of the local currency by Reserve Bank of Malawi, some business entities are hoarding goods with the intention of creating unnecessary shortage and subsequently charging unfair and excessive prices for various essential consumer go...

By Tione Andsen: Charter Cities Institute (CCI) has said the implementation of Malawi Secondary City Plan (MSCP) will require huge financial investment for it to be materialized. Executive Director for CCI, Kurtis Lockhart said this Wednesday in Lilongwe during the signing of the Memorandum of Understanding (MoU) for cooperation on the implementation of Malawi 2063 first 10 year implementation plan (MIP-1) with National Planning Commission (NPC). He said planning without capital and finances, there would be no impact to the implementation of the plan hence the need to link up with financial institutions for assistance. “We are focus to ensure that secondary cities are constructed. Without finances, plans will remain plans and ideas remain ideas. We need to have adequate financi...

By Staff Writer: Listed NBS Bank plc has partnered with Christian Aid, an International Organisation on the launch of the Women’s Energy Fund which will promote the participation of women entrepreneurs in the energy value chains to address the barriers that limit the involvement of women in the energy sector. Christian Aid has been dealing with NBS Bank for over 3 years on the ‘breaking the barriers’ project which has led to the launch of the Women’s Energy Fund. Speaking during the launch in Lilongwe last week, NBS Bank Deputy Chief Executive Officer Temwani Simwaka said the bank believes in collaborations and partnerships that create a platform to promote the advancement of social-economic development in Malawi. “NBS Bank as a local Bank, has always been passionate about supporti...