Dr Chikaonda
Dr Chikaonda

Dr. Chikaonda served as a Professor of Finance at Memorial University of Newfoundland in Canada from 1988 to 1994. He holds a PhD in Finance, MBA in Finance, BA in Finance & Economics (Hons); it was with these lofty credentials that many Presidents trusted him to lead many institutions in the country.

 

The days that begun with so much promise as the savior of Kamuzu Banda’s dream are waning into a goodnight without fulfillment. Chikaonda was proclaimed by many to be the savior of the new Malawi Democracy; however he will leave his latest high profile job at best with a bag of mixed results.

Late Kamuzu Banda
Late Kamuzu Banda

On top of that he is suspected of corruption and engineering compensation packages that made him personally very worthy and in the way leaving carcasses of many unfulfilled dreams for workers with  nothing to show for all the promise he came with to any high position job he was offered.

Malawi’s largest conglomerate Press Corporation Limited (PCL) is set to announce its new road map after hiring George Partridge to succeed Mathews Chikaonda as group chief executive officer.

Dr. Mathews A. P. Chikaonda, BA Finance & Economics (Hons), Diploma in Business Studies (Distinction), MBA (Finance), Ph.D. (Finance), has been the Group Chief Executive at Press Corporation Limited since April 01, 2002.

 

Dr. Chikaonda served as Finance Minister of Malawi. He served as a Deputy Governor of the Reserve Bank of Malawi since August 1994. He served as a Governor of the Reserve Bank of Malawi from January 1995 to March 2000 and appointed to the Cabinet and served in the Government of Malawi as Minister of Finance and Economic Planning until January 2002.

He serves as Chairman at Telekom Networks Malawi Limited and serves its Non-Executive Director since April 5, 2007. He serves as the Chairman of National Bank of Malawi and has also been its Director since April 2007. He has been an Executive Director at Press Corporation Limited since April 1, 2002. He has been a Non-Executive Director at Illovo Sugar (Malawi) Ltd. since October 2006 a Diploma in Business Studies (Distinction).

Chikaonda is set to retire on December 31 this year after 14 years of unexceptional service.

The conglomerate he led the last 14 years is listed on the Malawi Stock Exchange (MSE) and London Stock Exchange (LSE) as a global depository receipt is regarded as one of the largest holding companies in Malawi and has interests in financial services, telecommunications, food and beverages, energy and consumer goods.

According to Press Corp.’s company Secretary Bernard Ndau, PCL will unveil its new road map on September 7 in Blantyre where PCL’s performance highlights will be displayed.

The highly diversified company says its post-Chikaonda strategy further embraces new sectors earmarked for future investments like tourism and energy.

“Press Corporation Limited’s investment activities focus on maintaining a leading position in the private sector; and concentrates in sectors where potential market growth is ascertained from the global economic and social trends,” reads the strategic plan.

It adds that Press corp. seeks to explore viable investment opportunities in various sectors of the economy in order to strengthen its portfolio of investments and enhance shareholder value.

“Press Corporation Limited’s investment activities focus on maintaining a leading position in the private sector; and concentrates in sectors where potential market growth is ascertained from the global economic and social trends.”

Presently, Press Corp has stakes in several subsidiary companies, joint ventures and associated companies in different sectors of the Malawi economy including financial services, telecommunications, food and beverages, energy and consumer goods.

The company continues to explore viable investment opportunities in various sectors of the economy in order to strengthen its portfolio of investments and enhance shareholder value.

Press Corporation has stakes in Carlsberg Malawi, TNM, Limbe Leaf Tobacco, MTL, MALDECO and Ethanol Company Limited.

Partridge  comes in as CEO after serving as head of National Bank of Malawi, another PCL subsidiary and was instrumental in the bank’s recent acquisition of Indebank.

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