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Malawi Investments, Online News

Standard Bank scoops EMEA Finance Award for Best Restructure of the Year

Standard Bank Malawi Chief Executive Andrew MashandaLilongwe, April 23, 2014—Standard Bank Limited has won the 2013 EMEA Finance award for restructuring a 79 million South African rands loan into a local currency loan for Electricity Supply Corporation of Malawi (ESCOM). 

 

The win, called Restructure of the Year, is in respect of an equivalent MWK 3 billion (ZAR 79 million) loan that Escom owed the Development Bank of Southern Africa (DBSA) in 2013. 

Press Corporation Limited (PCL) rake K17 billion after-tax profit in 2013

Chairman ChikaondaBLANTYRE (MaraPost)--Press Corporation Limited (PCL), Malawi's biggest state-owned conglomerate, has issued financial statement announcing a consolidated profit after tax of K17.3 billion, representing an increase of 83 percent growth on prior year.

In 2012, the company registered a post-tax profit of K9.5 billion.

Standard Bank brings transit goods insurance

Standard BankBlantyre, April 9, 2014—As Malawi approaches the peak of its international trading season, Standard Bank is extending a transit goods insurance cover to its customers called TradeSure. 

TradeSure will be provided in partnership with insurer Nico General Insurance Company. 

Standard Bank’s Head of Personal Markets, Charity Mughogho said TradeSure is an exclusive insurance product that covers individual shipments from origin to final destination and includes cover for both the onshore and offshore transit of goods across African borders and overseas. 

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National Bank of Malawi registers K12 billion post-tax profit

Malawi National Bank HQBLANTYRE (MaraPost)--One of the commercial banks in the counntry, National Bank of Malawi (NBM) has announced a group post-tax profit off K12.7 billion, representing an increase of 68 percent from the previous year.

NBM says despite the operating environment of the banking sector was characterised by liquidity challenges especially in the first half of the year, it registered satisfactory growth in almost all of its business lines following the increased capacity utilisation of its clientele.

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Malawi power provider, ESCOM, hailed for reduced blackouts

Malawi Power company ESCOMElectricity Supply Cooperation of Malawi (ESCOM) customers have hailed the institution for reduced power-cuts for the past few months since the rehabilitation of Kapichila Hydro Power Station.

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