The Maravi Post is a leading source for reliable Business news and analysis on Business. Top African Business like Dangote Group in Nigeria, Mulli Brothers in Malawi
The 10 Greatest Living Business Leaders In Africa Today
BLANTYRE-(MaraviPost)-Malawi Stock Exchange listed FDH Bank plc has invested K6 billion for the past five years in the corporate social responsibility (CSR) activities through its FDH Cares initiative.
FDH Financial Holdings Limited Chief Executive Officer (CEO), William Mpinganjira disclosed this on Monday when the Bank hosted the Parliamentary Committee on Social and Community Affairs for an appreciation tour of its CSR activities.
Mpinganjira, and FDH Bank Plc Managing Director, Noel Mkulichi took the committee members to the Oncology High Dependency Unit at Queen Elizabeth Central Hospital which is supported by the Bank, and the Paediatric Intensive Care Unit at Malamulo Adventist Hospital that the Bank refurbished.
“Our CSR focuses on the economy, social affairs, education, sports, health, and the environment, among others, not to demonstrate abundance or compliance but to care for the community,” said Mpinganjira.
In his remarks, Committee Chairperson Savel Kafwafwa underscored the importance of the interaction saying the committee is mandated to ensure that people, including vulnerable groups, live happily.
“We applaud FDH Bank for its commitment to CSR, focusing on supporting vulnerable and marginalized communities,” said Kafwafwa.
The Committee also toured nine houses FDH Bank plc is constructing for Cyclone Freddy victims in Mussa Village, Chiradzulu.
ROME-(MANA)-President Lazarus Chakwera says his government has confidence to turn Malawi into an inclusively worth, self-reliant nation which is well industrialized and an upper middle income economy.
He emphasized on the Agriculture, Tourism and Mining (ATM) strategy as a strategy that can accord the country to move into mechanization and commercialization.
“We need to put emphasis on the ATM strategy so that we move from subsistence farming to commercialization.
“Smallholder farmers can be in groups and cooperatives and be empowered so that we can have more products and then add value to such products. We have industries across the country for the products,” he said.
He said it has been tough for Malawi with the effects of climate change hence the need for deliberate efforts on irrigation.
According to Chakwera, all the irrigation schemes that were no longer functional have been resuscitated and new ones have built and with the help of the World Bank Malawi expects to have one of the largest irrigation schemes in Southern Africa.
Chakwera assured the Food and Agriculture Organisation (FAO) that he will make sure that agriculture becomes a big business in Malawi by utilising water from Lake Malawi for irrigation and create more mega farms to address El Niño which brought hunger in Malawi.
About 5.7 million people this year have affected by hunger.
FAO Director General, QU Dongyu, thanked President Chakwera for his commitment to addressing issues of climate change thereby averting hunger.
Dongyu said they are committed to supporting Malawi in irrigation.
NAIROBI, Kenya, 19 August 2024/African Media Agency/-With a little over two weeks to the start of the 12th Africa Fintech Summit, we are excited to announce that His Excellency Wamkele Mene Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat, will give a keynote address on the morning of September 05, 2024, at the 12th Africa Fintech Summit that is taking place at the JW Marriott Hotel in Nairobi, Kenya!
H.E. Wamkele Mene was elected by the 33rd Ordinary Session of the Assembly of Heads of States & Government of the African Union, to the position of Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat and has the pleasure of providing the Africa Fintech Summit audience with updates relevant to cross border trade across the continent and how financial technology is powering this progress at scale.
It is important to note that as of March 2024, countries trading under the #AfCFTA have increased from 6 to 35, an almost 500% growth since the first trade in October 2022. Since assuming this huge undertaking of a single market for goods and services, the AfCFTA has deepened the economic integration of the African continent through the implementation of the largest free trade area that brings together the 55 countries of the African Union (AU) and eight (8) Regional Economic Communities (RECs) with a population of about 1.3 billion people and a combined GDP of approximately $3.4 trillion.
“We are honoured to welcome His Excellency Secretary General as our keynote speaker for the 12th Africa Fintech Summit in Nairobi, Kenya this September. His Excellency’s participation and keynote address comes at such a pivotal time when the Digital Trade protocol approved in February 2024 has begun to pave the way for the realization of Africa’s single market integration. The numbers are positive and we are confident that the financial technology innovation ecosystems will play a huge part in the growing implementation of the trade protocol” said Zekarias Amsalu, Co-Founder of Africa Fintech Summit.
His Excellency’s Secretary General’s keynote address will be followed by a roundtable titled “AfCFTA’s Digital Trade Protocol – Impacts and Opportunities for the Fintech World”. The roundtable will feature regulators, Fintech and Financial Industry Leaders, infrastructure investors, and data centre operators. Invited guests can expect a deep dive with the AfCFTA team on the technology impact and benefits that the digital trade protocol affords multinational companies to do business within member states. Going beyond encouraging cross-border commerce to streamline customs procedures, reducing tariffs and harmonising import and export regulations, the potential for growth is endless.
The rest of the day will feature a series of high-level fireside chats, a lineup of 80+ speakers at thought-provoking panels, insights-driven workshops and masterclasses designed to leave Africa’s fintech industry with clear actionable insights and next steps for innovation, collaboration, regulation, partnership, and growth.
BLANTYRE-(MaraviPost)-One of the country’s leading Insurance companies, Reunion Insurance Company Limited on Monday, August 19, donated MK5 million towards the 2024 Insurance Institute of Malawi (IIM) conference.
Speaking at Reunion Insurance headquarters in Blantyre during the sponsorship handover ceremony the company’s Marketing and Business Development Manager, Miller John Joshua, said IIM plays an important role in promoting professionalism in the insurance sector through education and training.
Joshua states, “Reunion Insurance believes, the 2024 IIM conference will provide an opportunity for sharing knowledge on how best insurance as an industry can assist Malawi to achieve its 2063 Agenda”.
In his appreciation remarks, IIM President Reuben Kawelele Kamanga lauded Reunion Insurance Company Limited for timely sponsorship which will go all the way to effectively help in preparation of the conference.
Kamanga therefore urged other organizations to emulate Reunion Insurance Company gesture.
The IIM conference is slated for August 29th – 31st, 2024 at Sunbird Nkopola in Mangochi.
The conference will be held under the theme “Transforming Malawi through Insurance Innovation, Inclusion and Growth: towards MW2026”.
Deputy Secretary to the President and Cabinet who is also Head of Presidential Delivery Unit, Dr. Janet Laura Banda is expected to grace the conference as key speaker
BLANTYRE-(MaraviPost)-The Former Reserve Bank of Malawi (RBM) governor Dr. Dalitso Kabambe has emphasized the need for exports diversification for Malawi to generate enough forex amid ailing economy.
Dr. Kabambe observes Malawi will continue to face economic challenges if it does not diversify its exports.
He however argues that relying solely on tobacco, maize, sugar and tea is no longer viable, given that the significance of these products has diminished over the past century.
He was speaking in Blantyre at a dinner for final-year students of Malawi College of Accountancy (MCA), where he was the guest of honour.
Kabambe added that Malawi needs to adapt to the times and seek other products that can boost its economy, including forex reserves.
“This generation must change the destiny of our nation. Perhaps we, the older generation, have failed the country and it is time for the younger generation to rectify this,” he said.
The former RBM governor then challenged the students to engage in entrepreneurship, saying job opportunities remain limited in the Malawian market.
MCA Head of Programmes for Blantyre Campus, Esnart Lengani, said the institution remains committed to producing graduates who are well-prepared for the corporate world.
“Our programmes equip students with knowledge that they can also use to engage in entrepreneurship, as we recognise that jobs are not sufficient for everyone,” Lengani said.
Dr. Kabambe recently joined UTM party ahead of 2025 presidential polls.
BLANTYRE-(MaraviPost)-National Bank of Malawi (NBM) plc has supported this year’s Nation Publication Limited (NPL) Mothers’ Fun Run Project for Chikwawa District Hospital with MK7 million.
Speaking during a symbolic cheque presentation in Blantyre on Thursday, NBM plc’s Henderson Street Service Centre Manager Tamara Mtuwa said the Mothers Fun Run project aligns perfectly with the Bank’s mission of supporting the health and well-being of the communities.
“Today, we gather to reaffirm our commitment to maternal and neonatal health by presenting a cheque of K7 million to the Mothers’ Fun Run Project 2024 for Chikwawa District Hospital which serves a large population with limited access to quality healthcare, particularly in maternal and neonatal services.”
“By contributing to this project, we are addressing a critical gap and playing a role in reducing preventable maternal and neonatal deaths. Not only ensuring safer childbirth experiences but also laying the foundation for healthier future generations,” said Mtuwa.
NPL Editor Aubrey Mchulu thanked NBM plc for actively participating in the Mothers’ Fun Run since its inception.
“This is NPL’s corporate social responsibility initiative which started in 2005 to complement government and other stakeholders’ efforts to reduce maternal deaths in our hospitals. In line with NPL’s slogan of giving the public more than just news this year, we are targeting to raise K300 million worth of resources,” said Mchulu.
In line with NBM plc’s broader commitment to the health sector, this year alone, ‘the Bank of the Nation’ has made significant contributions by donating wheelchairs worth K6 million to Kamuzu Central Hospital, and handing over two blood bank refrigerators to Mangochi and Mulanje, each valued at K40 million.
Hardeep Sound, Regional Sales Director: Emerging Africa at SAP
NAIROBI, Kenya, 16 August 2024 -/African Media Agency(AMA)/- Business leaders, technology partners and SAP experts met this week to discuss the role and potential of innovation to power East Africa’s economic development and growth.
Hardeep Sound, Regional Sales Director: Emerging Africa at SAP, noted that organisations throughout the region are investing in business transformation and technology for greater efficiency and resilience. “Interest in business AI and cloud ERP solutions are at an all-time high as companies seek to reimagine their business future by leveraging powerful technologies. Powered by the latest digital transformation capabilities and supported by a rich ecosystem of expert partners, companies throughout East Africa are accelerating their innovation efforts and unlocking new growth opportunities.”
The comments were made at SAP Innovation Day Kenya, part of a series of global events held in key markets across the world. The Kenya event follows successful similar events held in South Africa and Nigeria in May and July respectively.
SAP Innovation Day Kenya brought together business and technology leaders from across the East Africa region to discuss the latest strategies and approaches to technology-led innovation. Key to the discussions was the role of business AI in powering the region’s next wave of innovation and growth.
Johannes Dressler, Managing Director for Emerging Africa at SAP, emphasised that East Africa is a strategic market for SAP, and is home to some of the fastest-growing economies in the world. He noted that East African organisations can leverage technology to achieve sustainable growth and market competitiveness. “Every organisation in the region and globally is striving to understand how to leverage technologies such as AI, which have become necessities instead of luxuries. To remain competitive and thrive in turbulent markets, companies today need to connect their end-to-end processes and drive greater efficiency, innovation, revenue and profitability.”
Interest in artificial intelligence is growing amid the promise of greater efficiency and scale. AI has also been identified as a key thematic focus by the Kenya National Innovation Agency’s Strategic Plan 2023-2027, especially its application in developing innovative solutions for use in biotech, urban planning and climate change efforts.
Evert-Jan Tromp, Vice President for Cloud and Innovation: EMEA at SAP, highlighted that the current focus is on laying the foundation for organisations to adopt and derive value from technologies like AI. “Enterprises are transforming their capabilities to establish a clean core that can drive their success with AI and other emerging technologies. Here, our partner ecosystem plays a crucial role by helping companies understand the processes and best practices that accelerate adoption and maximize value realization.”
At a panel discussion held during the event, Martin Mwarangu, Group Chief Information Officer at the Kenya Tea Development Agency shared insight into his company’s transformation journey. The Kenya Tea Development Agency (KTDA) is a private company owned by 600 000 smallholder tea farmers spread across 16 tea-growing counties throughout Kenya.
“The business case for our transformation journey was to achieve greater efficiencies and cost-savings throughout our operations while centralising our data and establishing a solid foundation for our future transformation efforts,” says Mwarangu. “One of our core objectives is the adoption of best practices, for example standardised financial reporting across our various business entities that would enable improved decision-making.”
KTDA will continue to evaluate further innovations in their transformation journey. Mwarangu added: “We are in the people business, with hundreds of thousands of suppliers and farmers and other players in our broader value chain, and intend to leverage SAP’s human capital management and supplier management solutions to enhance our capabilities.”
The event also included the announcement of a significant deal signing with pioneering social enterprise Hewatele, which specialises in the supply of medical oxygen to over 150 facilities across Kenya. Hewatele made the strategic decision to adopt SAP’s next-gen Cloud ERP solution to streamline operations and enhance its ability to deliver critical medical supplies more efficiently.
Dumisani Moyo, Marketing Director at SAP Africa, acknowledged Hewatele CEO Dr. Zulfiqar Wali and CFO Joan Andia, highlighting the pivotal role that technology plays in shaping Africa’s future. “This event serves as a testament to the continent’s growing digital maturity and the opportunities available for businesses that are ready to embrace innovation. This is not just about adopting new tools; it’s about transforming how businesses operate, engage with customers and stakeholders, and, importantly, how they drive sustainable growth, innovate rapidly with AI, and gain valuable data insights that can fuel their future success. We are thrilled to be at the forefront of this journey, empowering African enterprises to lead in the global marketplace through cutting-edge solutions and forward-thinking strategies.”
SAP’s strategy is to help every business run as an intelligent, sustainable enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: SAP customers generate 87% of total global commerce.
Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers’ businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition.
We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people’s lives. For more information, visit www.sap.com.
Note to editors:
To preview and download broadcast-standard stock footage and press photos digitally, please visit www.sap.com/photos. On this platform, you can find high resolution material for your media channels.
For customers interested in learning more about SAP products:
Global Customer Center: +49 180 534-34-24
United States Only: 1 (800) 872-1SAP (1-800-872-1727)
For more information, press only:
SAP Head of Communications Africa, James Wilson at
BLANTYRE-(MaraviPost)-National Bank of Malawi (NBM) Plc has given Bankers Association of Malawi (BAM) K5.5 million and K3 million to the Institute of Internal Auditors Malawi (IIA Malawi) to support their annual lake conferences.
Speaking after handing over the cheque to BAM officials in Blantyre on Wednesday, NBM plc Account Relationship Manager Haggai Mungoni said supporting BAM conference, reaffirms the Bank’s dedication to creating a banking environment that serves everyone, including underserved populations.
“National Bank of Malawi (NBM) plc is deeply committed to driving financial inclusion and supporting sustainable development in our nation. Our support for this conference aligns with our broader strategic objectives, ensuring we contribute meaningfully to Malawi’s economic growth.”
“This year’s conference theme, ‘Bridging the Gap: Inclusive Banking and Sustainable Development for All’, is particularly relevant in the current economic landscape. As we face ongoing challenges in ensuring that all Malawians have access to financial services, this theme highlights the importance of finding innovative solutions and fostering collaborations that promote financial inclusion and sustainable development,” said Mungoni.
BAM Chief Executive Officer Lyness Nkungula thanked NBM Plc for this act of goodwill and support.
“At BAM, we have always recognized the importance of the annual Bankers Conference as a pivotal platform. It is not merely a gathering, but a vital opportunity to exchange ideas, share best practices, and discuss strategies for fostering collaborations and driving advancements within the financial sector,” said Nkungula.
Meanwhile, NBM Plc Internal Audit Manager, Sarah Gondwe made the cheque handover to IIAM, and in her speech said the Bank’s commitment reflects its dedication to supporting the internal audit profession, which plays a vital role in safeguarding integrity within organizations across Malawi.
“At NBM plc, we recognize the importance of fostering a well-informed and skilled professional community. By supporting IIA Malawi and its initiatives, we aim to empower internal auditors with the tools and knowledge they need to drive change, ensure compliance, and promote ethical practices within their organizations,” said Gondwe.
IIAM President Alick Mwale thanked NBM Plc for the timely donation which he says will help organize their silver jubilee celebrations and the annual conference.
“Will have two events, the governance forum where we have invited heads of institutions in the public and private sectors to discuss issues on the way organizations are supposed to be operating per best standards. And then we will have the annual conference. This support by NBM plc will therefore go a long way in ensuring the smooth organization of these events,” said Mwale.
The 9th Annual Bankers Conference is set for August 22 to 24, while IIA Malawi Annual Conference, will take place from September 5-8 under the theme ‘Be the Change: Internal Audit in the Era of Disruption’ in Mangochi.
BLANTYRE-(MaraviPost)-Malawi Stock Exchange listed National Bank of Malawi (NBM) has supported this year’s lake conference for the Institute of Chartered Accountants in Malawi (ICAM) in September with MK5 million.
NBM plc Management Accountant Macfield Maneya presented the cheque to ICAM in Blantyre on Tuesday where he cited that the Bank’s commitment reflects its dedication to supporting the development of professional standards and practices within the accounting sector.
“By supporting ICAM and its initiatives, we aim to empower professionals with the resources and strategies needed to navigate economic uncertainties and drive sustainable growth and resilience in our financial economic sectors.”
“This year’s conference theme, ‘Navigating Economic Uncertainties: Strategies for Growth and Resilience’, is particularly timely and relevant. As we face global and local economic challenges, professionals in the accounting and financial sectors explore strategies that ensure both growth and resilience in their organizations and the broader economy,” said Maneya.
In his remarks after receiving the donation, ICAM Chief Executive Officer (CEO), Noel Zigowa commended NBM plc for the donation which he described as timely to help the Institute achieve a successful conference.
“It feels so good to partner with National Bank of Malawi plc and the corporate world because through these conferences, we address the needs of the economy and ensure that the public is aware of what is happening, the challenges we are going through, and what the professionals are saying,” said Zigowa.
According to Zigowa, Derek Bbanga of South Africa’s Unique Speaker Bureau will be the keynote speaker at the conference, while Ngeyi Kanyongolo and other local speakers are also expected to attend.
Minister of Finance and Economic Affairs Simplex Chithyola Banda will be the guest of honor at the conference which will run from 19 to 21 September in Mangochi.
LILONGWE-(MaraviPost)-In Malawi, the taxi industry is sinking under the weight of economic distress. As the government enacts stringent tax laws, Malawians are increasingly squeezed, and for taxi drivers, survival has become a daily struggle.
During a recent interaction with a taxi driver, who was repairing a punctured tire en route from Lilongwe to Kanengo, I gained insight into the severe challenges facing the sector.
The driver lamented that in today’s Malawi, the balance of expenditure versus income is skewed dramatically against drivers. With the devaluation of the Kwacha, soaring commodity prices, and punitive taxes, their financial stability is in jeopardy.
A significant obstacle is the newly introduced e-parking system by the Lilongwe City Council. The driver revealed that network issues frequently disrupt payments for smaller parking fees, while payments for amounts exceeding MK10,000 seem to go through without delay. This inconsistency has fueled suspicion among drivers, who suspect a deliberate attempt to complicate their operations.
Adding to their woes, there are looming threats of stricter regulations if the Malawi Congress Party (MCP) regains power in 2025.
The proposal to introduce business certificates for taxi drivers, who often do not own their vehicles, poses a practical and financial challenge.
Drivers also face extortion from MCP bouncers and frequent fines from traffic police, further draining their already limited resources.
The driver’s somber reflection highlights a grim reality: despite their best efforts, many drivers return their taxis at the end of the day with little to show for their labor due to these overlapping financial pressures.
The disconnect between the struggles of drivers and the perception of their challenges by car owners only adds to their frustration.
In conclusion, the taxi industry in Malawi is besieged by a multitude of systemic problems, from erratic e-parking systems to burdensome regulations and pervasive corruption.
To navigate these treacherous waters and foster a more viable future for the industry, urgent and comprehensive reforms are essential. Simplifying e-parking processes, addressing corruption, and developing fair regulatory frameworks are critical steps toward alleviating the financial strain on taxi drivers.
Until these issues are resolved, the sector’s survival remains precarious, and the hope for a better tomorrow seems distant.
Malawi breaking news and World News. News about Malawi, Malawi Business, Malawi Tourism, Malawi Politics, Malawi News, World and Africa Top News.
