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BLANTYRE-(MaraviPost)-Malawi’s leading home-grown financial institution, FDH Financial Holdings Limited has tipped small-scale contractors in the country to keep a sharp focus on smaller business projects in order to build their capacity and confidence for financing of their construction endeavours.
The advice was given in enerst by FDH Financial Holdings Limited Chief Executive Officer (CEO) William Mpinganjira on Thursday at the three-day 7th International Construction Conference at Nkopola in Mangochi, which has been anchored by the National Construction Industry Council (NCIC) from Wednesday, August 7 to Friday, August 9, 2024.
A key speaker at the construction summit, the FDH Group boss, William Mpinganjira said: “I urge the small scale contractors to focus on smaller projects in order for for you to build your capacity and gain confidence for your funding and financing of your projects.”
In his keynote address, Mpinganjira assured the contractors at the construction indaba that the FDH offers financing opportunities for infrastructure contracts with a goal of developing the country.
“FDH Group helps in funding infrastructure projects and continues to supporting the realisation of the Malawi2063 by supporting various development pillars in the country including the construction sector,” said Mpinganjira.
The Malawi Stock Exchange (MSE) listed FDH Group has been financing many construction projects and some of the notable projects include among others, the Malawi Fertiliser Company in Liwonde, Zomba Stadium and various road construction projects in the country.
Mpinganjira emphasised that the FDH Group is committed to providing easy access to financial solutions that enable our communities to grow with us.
FDH Financial Holdings Limited is a Malawian home-grown is a diversified investments and financial solutions centre with interests in Banking, Discount House Operations, Investment Management and Advisory Services as well as Forex Bureau operations.
FDH prides itself in the quality of its services, which have created a formidable reputation in all our business arms in the country.
The 2024 theme of the NCIC lakeshore internation construction conference was styled: “Innovate, Adapt and Excel: A Quality Driven Construction Industry.”
The NCIC conference featured keynote presentations, panel discussions, technical sessions, and workshops covering a wide spectrum of topics.
NCIC Chief Executive Officer (CEO) Engineer Gerald Khonje said the construction conference offers Malawi opportunities to accelerate the infrastructure development component of both the Malawi Implementation Plan One (MIP 1) and the Malawi 2063, where it is envisioning Malawi to be an inclusively wealth nation with safe and resilient infrastructure.
Said Khonje: “The conference offered attendees opportunities to network, forge partnerships, and explore business opportunities with peers and experts from around the globe.”
Khonje, therefore, asked for many people in the construction industry to join NCIC in order for them enjoy the benefits and opportunities that comes with being a member of the organisation.
Engineer Khonje said: “Please, allow me to take this opportunity to encourage those that did not attend the conference this time to join us next time without hesitation.”
During the conference, Minister of Transport and Public Works Jacob Hara asked the Malawi Bureau of Standards (MBS), National Construction Industry Council (NCIC) to formulate a working paper that will facilitate import substitution for construction and manufacturing materials that Malawi requires in large quantities.
Hara said the construction sector is an enabler of the Government’s flagship strategy Agriculture Tourism and Mining (ATM) strategy.
Hara said: “The construction sector must be at the center of making sure they Malawi is have quality and durable infrastructure that can make the ATM strategy more vibrant and relevant to Malawi’s drive to a middle income economy.”
A new online platform, Chithandizo.com, is bringing the power of crowdfunding to Malawi. Chithandizo, which means “assistance” in Chichewa, aims to connect Malawians in need with a secure and transparent way to raise funds for various causes.
Helping Hands with Life’s Events and Challenges:
Developed by InteGrow Capital Group, Chithandizo.com operates similarly to popular platforms like GoFundMe. Individuals can create fundraising campaigns for a variety of needs, from life celebrations like weddings or graduations to overcoming difficult situations such as medical bills, accidents, disaster or funeral expenses.
Driven by Compassion and Ubuntu:
“We saw a gap,” explains InteGrow Capital Group VP, Mr. Zak Wirima. “Many Malawians lack access to a streamlined platform where they can seek assistance from their community during critical times. This can be the difference between life and death, especially for those needing medical treatment or students facing financial barriers to education.”
The platform emphasizes the African philosophy of “Ubuntu,” which highlights interconnectedness and humanity.
A Transparent Fundraising Experience:
Chithandizo.com offers a secure, safe and user-friendly platform. Individuals seeking support will register and provide verified details. Once approved, they can create a fundraising page with a unique link to share via social media (WhatsApp, Facebook, Instagram) and email. Donors can contribute with debit cards, credit cards, Airtel Money or TNM Mpamba and track the campaign’s progress in real-time. All donations, minus minimal processing fees, go directly to the cause, regardless of whether the full goal is reached.
Focusing on Personal Needs:
Unlike some crowdfunding platforms, Chithandizo.com focuses primarily on supporting personal causes and life events. While funding other projects for charitable purposes is allowed, the core strength lies in empowering individuals.
Launching a New Era of Support:
Chithandizo.com offers a promising solution for Malawians seeking financial assistance especially in times of great need. With its emphasis on transparency, accessibility, and community, the platform has the potential to significantly impact lives across the country.
Visit Chithandizo.com today to learn more and see how you can be part of the supportive Malawian community.
LILONGWE-(MaraviPost)-Malawi’s pioneer mobile network and digital solutions provider, TNM Plc, has launched suites of groundbreaking innovations streamlined to revolutionize the way customers connect and manage their digital and financial needs.
The new offerings include eSIM technology, a Micro Merchants Wallet, Mpamba Quick Pay, and Mpamba Salary Overdraft, all set to enhance convenience, accessibility, productivity, and efficiency for users.
In addition, the innovations are designed to address real needs and deliver a supreme experience to Malawians.
According to Michel A. Hebert, TNM’s Chief Executive Officer, the innovations aim at aligning Malawians with the global telecommunications and FINTECH trends.
“At TNM our mission is to build world-class digital solutions to empower every Malawian and connect Malawi to the world. Therefore, unveiling these innovations attests to our commitment towards revolutionizing Malawi’s digital landscape,” said Michel.
Through these innovations, TNM envisions the creation of digitally enhanced societies that benefit more from the services offered.
“We are thrilled to introduce these innovations that reflect our commitment to enhancing the digital experience for our customers. By leveraging cutting-edge technology and addressing real-world needs, we aim to provide solutions that offer greater convenience, empowerment, and financial well-being,” he said.
Hebert added that the introduction of these innovations marks a significant advancement in mobile connectivity and mobile money.
“The embedded SIM (eSIM) innovation simplifies the user experience and offers greater flexibility and enhanced security. This gives unparalleled customer experience and convenience on our best 4G and only 5G network in Malawi. On the other hand, Micro Merchant Wallet aims to empower small business owners and entrepreneurs by providing them with affordable and user-friendly mobile payment solutions. To the customers of our small businesses, this offers the convenience of making payments without the risks of carrying cash around. This makes both the merchant and the customer experience a secure transaction environment”.
“The new Mpamba Quick Pay feature is designed to streamline payment processes, making transactions faster and more convenient. With the use of a smart phone, the customer just scans a QR code at the checkout counter and payment will be done. Finally, the revolutionary Mpamba Salary Overdraft will provide salaried employees with quick access to salary advances directly through their Mpamba wallets. By offering salary advances directly through the Mpamba wallet, TNM Mpamba is addressing an essential need for financial flexibility,” added Hebert.
TNM has assured Malawians of continued innovations in the industry as it cements its position as a pioneer telecommunications service provider in the country.
It is the only 5G network provider in Malawi and a leader in innovative digital solutions for both individuals and businesses.
TNM Mpamba is a FINTECH solutions provider that has served the Malawian society with the convenient and trusted services for more than 10 years
LILONGWE-(MaraviPost)-The country’s National Planning Commission (NPC) says there is a need for practical researches that fits into communities’ capacity to address food crisis amid effects of climate change.
NPC Research Manager Andrew Jamali told The Maravi Post in an interviews in the sidelines of 2024 Annual Regional Policy Dialogue underway in the capital Lilongwe.
Jamali observes that if researches are unable to come up with recommendations that including implementers capacities, food crisis will continue to hunt the region.
“All researches must dwell on recommendations that allow communities to implement programs easily that address food crisis amid effects of climate change. We need actionable research-based approach,” appeals Jamali.
Under the theme, “Policy pathways towards transforming Africa’s agriculture and food systems”, The 2024 Annual Regional Policy Dialogue Food is being organised by Food, Agriculture and Natural Resources Policy Analysis Network (FANRPAN), Civil Society Agriculture Network (CISANET) and NPC.
The forum has attracted over 200 delegates from 17 member countries.
The Policy Dialogue to discuss modern technologies amid climate change impact towards sustaining food security in the region.
LILONGWE-(MaraviPost)-Agriculture biotechnology is said to be transformative solutions to the country’s food crisis through Genetically Modified Organism (GMO) crops including cotton production
African Agricultural Technology Foundation (AATF) Senior Manager Francis Nang’ayo said this in an interview with Maravi Post on Wednesday, August 7, 2024.
Nang’ayo said GM cotton produce yields almost double and others triple the adoption of new varieties with over 95 percent.
He said the case of GM cotton has demonstrated potential benefits to farmers and the country needs to embrace agriculture biotechnology.
“Malawi can unlock the potential of agricultural biotechnology and pave the way for food and nutrition security,” said Nang’ayo.
In his remarks, Open Forum on Agricultural Biotechnology in Africa (OFAB) Program Officer, Verenardo Meeme said if Malawi and other countries can adapt to the biotechnology system, the government can do better as well as there is a need for crop diversification.
Meeme said the government has a role in creating an enabling environment by introducing maize that does not need much water.
He added that in the last 30 years, African countries have made various endeavors to develop National Bio-safety frameworks.
AATF was established to make partnerships with existing institutions to adapt agricultural technology for use by farmers in Africa.
LILONGWE-(MaraviPost)-The Public Accounts Committee (PAC) of Malawi Parliament has endorsed the much awaited digital tax stamp which Malawi Revenue Authority (MRA) has rolled out.
The full usage of digital tax stamps is a tool to eliminate goods smuggling into the country.
PAC Chairperson Mark Botomani on Tuesday, August 5, 2024 said the committee will support the implementation of the exercise fully after inspecting MRA Warehouse and unchartered routes that smugglers use in the capital Lilongwe.
Botomani said now that the committee has hands-on experience on how people smuggle goods into Malawi, there is no problem for MRA to use the tax stamps on products saying doing so could also be protecting other business people.
“After our inspecting today we have noticed that smuggling is a huge problem and the only solution to prevent it is by bringing different mechanisms like tax stamps. No country can run without taxes and MRA needs our support.
“Likely, the stamping issue has the potential to reduce smuggling and that’s the only solution since the government is losing a lot of money through smuggling of goods. That’s evading tax. MRA should continue sensitizing the public on the matter,” said Botomani.
On his part, MRA’s Commissioner General, John Bizwick said the goal behind digital tax stamps is to protect and safeguard local industries and consumers from unfair competition posed by illicit, smuggled, and counterfeit excisable products.
He said the idea also seeks to ensure that consumers are not exposed to unbranded and potentially hazardous imports, which could be detrimental to health.
“The local industry will be saved from unfair competition of smuggled products because only legitimate products will have the stamp, and only legitimate products will find their way onto the market.
“Because of smuggling, the market share of products that have been produced in Malawi has been impacted negatively. By bringing in tax stamps, local industry will be saved from the competition of smuggled products,” he explained.
The stamp endorsement is coming just a day after another committee of industry, trade, and tourism led by Paul Nkhoma did the same on Monday after doing an inspection.
Tax stamps are stamped on products to show that the manufacturers have met tax obligations but also to show that the products are fit for human consumption.
Meanwhile, on Wednesday, August 7, MRA alongside a pressure group called Malawi First, People First and concerned business operators in the country passed a resolution to halt the planned demonstrations against tax stamps.
MRA head of corporate affairs director Steve Kapoloma told the news conference that the three institutions recognise that smuggling is a big challenge that undermines the interests of SMEs and public service delivery, as such, tax stamps should only be used to protect business and national interest.
MRA on Friday, May 10, 2024, launched the much-awaited Extended Excise Tax Stamps Regime (digital stamping) to bolster the tracking and tracing of excise tax payments.
The development followed the amendment of the Customs and Excise Act (2021).
The Excise Tax Stamps Regime was gazetted in January 2024 and has now been fully implemented as of May 1, 2024.
An enhanced excise tax stamp is a highly secure sticker or label affixed or printed directly using special ink on an excisable product.
Currently, Governments in Democratic Republic of Congo, Kenya, Morocco, Sierra Leone, Gambia, Tanzania, Togo, and Uganda are implementing digital tax stamps.
The extension of excise tax stamps in Malawi will widely assist in monitoring the supply chain of specified excisable goods, detect infiltrations by illicit flows, and protect local manufacturing industries from unfair competition that comes with counterfeits and smuggled products.
A new report from BCG, The Network, The Stepstone Group, and local partner The African Talent Company (TATC) based on a survey of more than 150,000 respondents in 188 countries reveals shifting workplace priorities and preferences
Three-quarters of respondents believe GenAI will create some level of disruption, and more than 80% of Kenyans are willing to reskill
NAIROBI, Kenya, 06 August 2024 -/African Media Agency (AMA)/- Three-quarters of workers around the world believe GenAI will bring some level of disruption to the workplace. Despite uncertain times, they remain confident about their place in the labour market with 82% of Kenyans willing to be retrained in any case and 18% if necessary to stay ahead in their careers. Seventy-seven percent of Kenyans feel they hold the upper hand when negotiating for jobs as opposed to 64% of their global counterparts.
The findings of the study underscore the proactive approach workers are taking in response to the potential impacts of GenAI. By prioritising reskilling and development, they are not only preparing to adapt to technological changes but also expressing confidence in their ability to thrive in an evolving labour market. This adaptability is key to maintaining a robust and resilient workforce in the face of ongoing technological advances.
“There is an evolution and maturation in Kenyan employee perspectives on AI, along with a critical understanding that a dedication to ongoing reskilling is essential for ensuring long-term employability,” said Zoë Karl-Waithaka, Managing Director and Partner at BCG, Nairobi.
Workers are also clear about what they don’t want. Globally, 54% and in Kenya, 33%, would refuse an attractive job offer if they had a bad experience during the interview process. The importance of the recruitment process is underscored by the fact that a negative experience during recruitment is the second-most-significant dealbreaker in North America and Europe. With only 22% of Kenyans who consider a negative experience during recruitment as a dealbreaker, this ranks lower than employers with products or services that have a negative impact on society (51%), employers that don’t offer family-friendly benefits (42%) and organisations that don’t have a diverse or inclusive environment (42%). Additionally, 40% of workers globally, and 50% locally agree that they won’t work for companies that don’t offer mental health support.
“AI offers a unique opportunity to transform recruitment through innovative, technology-driven processes. Moreover, AI has the potential to substantially enhance skill development and foster a genuinely human-centric workplace,” said Sebastian Dettmers, CEO of The Stepstone Group. “This evolution will streamline operations, removing redundant tasks and significantly aiding individuals in securing the ideal job.”
Interestingly, the impact of AI disruption is evident in what global talent desires in an ideal workplace. Job security was the most important factor for workers in East Asia and South Asia, particularly among those who perceived AI to have a greater impact on their future work. Learning and development topped the list for the Middle East and North Africa, sub-Saharan Africa, and Latin America, highlighting a strong desire to adapt, progress, and upskill in an evolving landscape. The highly competitive labour markets of recent years and the strong bargaining position of workers are reflected in financial compensation being the top priority for North Americans and work-life balance for Europeans. Job security, learning and career development, and a meaningful job are the three most important considerations for the Kenyan workforce.
“In a competitive labour market where talent is a critical and scarce commodity, it’s crucial for employers to source talent from diverse channels and resources,” said Karl-Waithaka. “Organisations should increasingly consider reskilling current employees, recruiting talent internationally, or seeking individuals with unconventional backgrounds as viable solutions.”
BCG, The Network (together with its affiliate organizations), and The Stepstone Group conducted this anonymous online survey from October through December 2023. All told, 150,735 people in 188 countries participated.
The survey elicited respondents’ preferences at work and their perception of GenAI and its impact. It covered topics such as evolving work preferences and attitudes, factors that might lead respondents to reject an attractive job offer, the extent to which they have adopted and now use GenAI in professional and personal contexts, perceptions of GenAI’s impact on their jobs, and willingness to reskill to remain competitive. The data gathered in the survey—including a wide variety of information on participants’ demographic and professional backgrounds—enabled us to analyse workers’ attitudes on the basis of multiple parameters.
BCG also conducted follow-up interviews with select study participants around the world—many of whom were interviewed before and have been followed for several years.
About Boston Consulting Group
Founded in 1963, and with offices in over 50 countries, BCG’s diverse, global team comprising of 30 000 plus people bring deep industry and functional expertise and a range of perspectives that provide clients with management consulting solutions. Through its transformational approach aimed at benefiting all stakeholders, BCG empowers organisations to grow, build sustainable competitive advantage and drive positive societal impact. For more, go to www.bcg.com.
BCG is well established in Africa, with offices in: Cairo, Casablanca, Johannesburg, Lagos, and Nairobi, bringing together a team of nearly 600 collaborators. For more about BCG in Africa, go to www.bcg.com/Africa.
About The Network
The Network is a global alliance of more than 70 leading recruitment websites committed to finding the best talent in over 150 countries. Founded in 2002, The Network has become the global leader in online recruitment, serving more than 2,000 global corporations. The recruitment websites in The Network attract almost 200 million unique visitors each month. For more information, please visit www.the-network.com.
About The Stepstone Group
The Stepstone Group is a leading global digital recruitment platform that connects companies with the right talent and helps people find the right job. The Stepstone Group connects more than 130 million job applications with around 140,000 employers every year. With its integrated platforms, The Stepstone Group simplifies the candidates job search as well supporting recruiters with AI-powered solutions for the entire recruitment process. In 2023, The Stepstone Group generated revenue of around €1 billion. The Stepstone Group operates in more than 30 countries—including Stepstone in Germany, Appcast in the US, and Totaljobs in the UK. The company is headquartered in Düsseldorf, Germany and employs around 4,000 people worldwide. For more information: www.thestepstonegroup.com/en.
A new report from BCG, The Network, The Stepstone Group, and local partner The African Talent Company (TATC) based on a survey of more than 150,000 respondents in 188 countries reveals shifting workplace priorities and preferences.
Three-quarters of respondents believe GenAI will create some level of disruption, and three-quarters of Nigerians and Ghanaians are willing to reskill.
LAGOS, Nigeria, 06 August 2024 -/African Media Agency (AMA)/- Three-quarters of workers around the world believe GenAI will bring some level of disruption to the workplace. Despite uncertain times, they remain confident about their place in the labour market with 75% of Nigerians and Ghanaians willing to be retrained in any case and 23% if necessary to stay ahead in their careers. Seventy-four percent of Nigerians and 73% of Ghanaians feel they hold the upper hand when negotiating for jobs as opposed to 64% of their global counterparts.
The findings of the study underscore the proactive approach workers are taking in response to the potential impacts of GenAI. By prioritising reskilling and development, they are not only preparing to adapt to technological changes but also expressing confidence in their ability to thrive in an evolving labour market. This adaptability is key to maintaining a robust and resilient workforce in the face of ongoing technological advances.
“In both Ghana and Nigeria, we are witnessing an evolution and maturation in employee perspectives on AI, along with an important understanding that reskilling is essential for long-term employability,” said Adwoa Banful, Principal at BCG, Johannesburg.
In both countries, workers have demonstrated clarity regarding their expectations regarding AI in the workplace. Globally, 54% and in Ghana, 35% and Nigeria, 30%, would refuse an attractive job offer if they had a bad experience during the interview process. The importance of the recruitment process is underscored by the fact that a negative experience during recruitment is the second-most-significant dealbreaker in North America and Europe. With only 24% of Ghanaians and 20% of Nigerians who consider a negative experience during recruitment as a dealbreaker, this ranks lower than employers that don’t offer family-friendly benefits (39% for Ghanaians and 33% for Nigerians); employers with products or services that have a negative impact on society (64% for Ghanaians and 53% for Nigerians) and organisations that don’t have a diverse or inclusive environment (36% for Ghanaians and 31% for Nigerians). Additionally, 40% of workers globally, and 45% locally agree that they won’t work for companies that don’t offer mental health support.
“AI offers a unique opportunity to transform recruitment through innovative, technology-driven processes. Moreover, AI has the potential to substantially enhance skill development and foster a genuinely human-centric workplace,” said Sebastian Dettmers, CEO of The Stepstone Group. “This evolution will streamline operations, removing redundant tasks and significantly aiding individuals in securing the ideal job.”
Interestingly, the impact of AI disruption is evident in what global talent desires in an ideal workplace. Job security was the most important factor for workers in East Asia and South Asia, particularly among those who perceived AI to have a greater impact on their future work. Learning and development topped the list for the Middle East and North Africa, sub-Saharan Africa, and Latin America, highlighting a strong desire to adapt, progress, and upskill in an evolving landscape. The highly competitive labour markets of recent years and the strong bargaining position of workers are reflected in financial compensation being the top priority for North Americans and work-life balance for Europeans. The three most important considerations for the West African workforce are: Job security, learning and career development, and opportunities to lead and take responsibility for Ghanaians and for Nigerians they are learning and career development, job security, and a creative environment.
“In a competitive labour market where talent is a critical and scarce commodity, it’s crucial for employers to source talent from diverse channels and resources,” said Banful. “Organisations should increasingly consider reskilling current employees, recruiting talent internationally, or seeking individuals with unconventional backgrounds as viable solutions.”
BCG, The Network (together with its affiliate organizations), and The Stepstone Group conducted this anonymous online survey from October through December 2023. All told, 150,735 people in 188 countries participated.
The survey elicited respondents’ preferences at work and their perception of GenAI and its impact. It covered topics such as evolving work preferences and attitudes, factors that might lead respondents to reject an attractive job offer, the extent to which they have adopted and now use GenAI in professional and personal contexts, perceptions of GenAI’s impact on their jobs, and willingness to reskill to remain competitive. The data gathered in the survey—including a wide variety of information on participants’ demographic and professional backgrounds—enabled us to analyse workers’ attitudes on the basis of multiple parameters.
BCG also conducted follow-up interviews with select study participants around the world—many of whom were interviewed before and have been followed for several years.
About Boston Consulting Group
Founded in 1963, and with offices in over 50 countries, BCG’s diverse, global team comprising of 30 000 plus people bring deep industry and functional expertise and a range of perspectives that provide clients with management consulting solutions. Through its transformational approach aimed at benefiting all stakeholders, BCG empowers organisations to grow, build sustainable competitive advantage and drive positive societal impact. For more, go to www.bcg.com.
BCG is well established in Africa, with offices in: Cairo, Casablanca, Johannesburg, Lagos, and Nairobi, bringing together a team of nearly 600 collaborators. For more about BCG in Africa, go to www.bcg.com/Africa.
About The Network
The Network is a global alliance of more than 70 leading recruitment websites committed to finding the best talent in over 150 countries. Founded in 2002, The Network has become the global leader in online recruitment, serving more than 2,000 global corporations. The recruitment websites in The Network attract almost 200 million unique visitors each month. For more information, please visit www.the-network.com.
About The Stepstone Group
The Stepstone Group is a leading global digital recruitment platform that connects companies with the right talent and helps people find the right job. The Stepstone Group connects more than 130 million job applications with around 140,000 employers every year. With its integrated platforms, The Stepstone Group simplifies the candidates job search as well supporting recruiters with AI-powered solutions for the entire recruitment process. In 2023, The Stepstone Group generated revenue of around €1 billion. The Stepstone Group operates in more than 30 countries—including Stepstone in Germany, Appcast in the US, and Totaljobs in the UK. The company is headquartered in Düsseldorf, Germany and employs around 4,000 people worldwide. For more information: www.thestepstonegroup.com/en.
BLANTYRE-(MaraviPost)-NBS Bank Plc has announced plans to upgrade its T24 core banking system to the new FLEX-CUBE system later this month as a way of enhancing customer data storage, transactional processing, and functional transaction calculations.
The Bank’s Head of Strategy, Products and Marketing Inqxhuiniso Dzoole-Mwale made the announcement during a media breakfast in Blantyre on Monday where he assured customers that this transition will introduce new functionalities and customer-friendly features aimed at enhancing cost efficiency and flexibility.
“The new banking system will mark a significant upgrade from the T24 system to the FLEX-CUBE core banking system, offering modernized technology, scalability, performance improvements, and enhanced cost-effectiveness and flexibility for customers.”
“This change is just a first step in building the relationship with our customers again. As we move on to the next 60 years, we want the customers to know we are together by giving this state-of-the-art system as a building block,” said Dzoole-Mwale.
To ensure smooth communication, Dzoole-Mwale said NBS Bank plc will utilise its extensive branch network, Bank Pafupi Agents, emails, and direct SMS to keep customers informed about the transformation.
“At the end of the day, there will be no blackout of information to our customers, which is why the first people we wanted to talk to were the media because you are the ones that connect us to the rest of the people.”
“With the coming of FLEX-CUBE, NBS Bank plc has set a new standard in banking services, ensuring that customers benefit from the latest innovations in the industry. The bank’s proactive approach to communication and security, highlights its dedication to providing a seamless and secure banking experience,” he said.
He further emphasised that during the transition period, the Bank will not request customers’ credentials to prevent fraudsters from exploiting the transition process.
JOHANNESBURG-(MaraviPost)-As the City of Johannesburg metro intensifies efforts to recoup more than R10 million owed by fugitive Malawian pastor Shepherd Bushiri in unpaid taxes and levies, the Enlightened Christian Gathering (ECG) has transferred the ownership of his luxury hotel in Rustenburg in North West.
City Press understands that, while the metro council approached the Johannesburg High Court on 7 July this year to get its hands on Bushiri’s mansions at Waterfall Estate and Blue Hills Estate – both in Midrand – the controversial Bushiri managed to get rid of the hotel.
The luxurious Sparkling Waters Hotel & Spa was transferred in April this year to his former funders, JM Busha Investments, which is owned by Zimbabwean politician and philanthropist Joseph Makamba Busha.
Bushiri in RSA (File photos)
According to the hotel employees who are also ECG members, the hotel was taken over by the investment group after the workers took Bushiri to the Commission for Conciliation, Mediation and Arbitration in March 2020 due to unpaid wages.
City Press also learnt that Busha Investments’ takeover came after the company had loaned Bushiri more than R200 million in 2020. However, he failed to pay back the loan, prompting the company to obtain a sequestration order against him.
“Staff received a letter from JM Busha Investment Group stating that, due to financial constraints, the operations would be scaled down,” said a source.
A senior staff member at the Sparkling Waters Hotel & Spa said:
For some workers, this was devastating news as they had lived on the property and had built up the popular tourist destination. The hotel is now under the control of Busha and it has not been disclosed how the transaction happened. The source said Busha wanted everything registered in Bushiri’s name to be placed under provisional sequestration in the hands of the Master of the High Court, a request which was granted by the court.
Court papers filed by the City of Johannesburg this week outlined that an order to auction Bushiri’s properties in Johannesburg was the only way the metro council could recoup the amount of R10 078 538 he owed.
The papers also cited that his failure to respond to correspondence had prompted the council to have the properties auctioned.
“The City of Johannesburg is entitled to adopt and implement a tariff policy on the levying of fees for municipal services provided by the city itself or by way of service delivery agreements with Shepherd Bushiri,” reads the court papers.
He breached his legal duty by failing to pay. He is not exempt from paying levies and taxes. The metro had filed similar action earlier this month, claiming that one of Bushiri’s houses in Blue Hills had an unsettled bill of R1.4 million.
Bushiri faces an additional R1 million claim for allegedly breaching a lease agreement with PPS Property Fund Trust for the premises of ECG’s headquarters in Hatfield, Pretoria.
The company, a trust controlled by PPS Insurance, approached the office of the Master of the Johannesburg High Court last month to obtain an order that could lead to the auctioning of Bushiri’s assets.
Bushiri was in the headlines in November 2021 when he and his wife Mary fled to Malawi after he had been granted bail by the Pretoria Magistrates’ Court.
He was facing charges of money laundering and fraud, and accusations of orchestrating a Ponzi scheme that allegedly targeted pension funds. The process to extradite the couple from Malawi seems to have stalled.
They are also alleged to have obtained their permanent residency permits fraudulently.
Numerous efforts to get comment from Busha Investments in Zimbabwe and the Bushiris drew a blank this week.
Source: City Press
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