Category Archives: Business

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
  • Sheikh Mohammed Al-Amoudi, Ethiopian.
  • Raymond Ackerman, South African.
  • Aliko Dangote, Nigerian.
  • Manu Chandaria, Kenyan.
  • Onsi Sawiris, Egyptian.
  • Brian Joffe, South African.
  • Strive Masiyiwa, Zimbabwean.
  • Wale Tinubu, Nigerian.

Standard Bank appoints Tamanda N’gombe as new Head of Marketing

LILONGWE-(MaraviPost)-Standard Bank Plc has appointed Tamanda N’gombe as its new Head of Marketing with effect from April 1, 2024.

Tamanda brings to Standard Bank Plc a wealth of experience spanning 16 years in Integrated Marketing and Communications Strategy, Customer Experience and Engagement, Sales and Brand Management.

She takes over from Nyambura Chege who worked in Malawi for two years before relocating to Stanbic Kenya Plc.

Prior to joining Standard Bank Plc, Tamanda was the Head of Marketing at NBS Bank Plc and before that worked in related capacities at FedEx, Gestetner and Blantyre Water Board (BWB).

Following her appointment, Chief Executive Phillip Madinga said; “We would like to take this opportunity to welcome Tamanda to the Standard Bank brand. We are confident that her leadership and experience will inspire innovation and elevate our Marketing game to greater heights.”

Tamanda holds a Master of Philosophy in Corporate Strategy from Gordon Institute of Business Science (GIBS) of the University of Pretoria, a Bachelor’s degree in Business Administration (BBA) from the University of Malawi, The Polytechnic (now MUBAS) and a Postgraduate Diploma in Marketing from the Chartered Institute of Marketing (CIM), UK.

CAT empowers lead farmers on post harvest management, market access

LILONGWE-(MaraviPost)-In a bid to reduce produce loses after harvest, the Centre for Agriculture Transformation (CAT) on Friday, April 12, 2024, graduated over 70 lead farmers on post-harvest crop management.

CAT also empowered the lead farmers on financial literacy and market access through a two day training held at Lisasadzi Residential Training centre in the central district of Kasungu.

With financial support from Foundation for a Smoke- Free World through the Agricultural Transformation Initiative (ATI), CAT has been conducting series of Bootcamp trainings to farmers including value-chained crops, market access, Agricultural Technology, Innovation and among others.

CAT Executive Director Macleod Nkhoma encouraged participants to make use of the knowledge and skills acquired for maximum returns of the crop yields.

Nkhoma therefore expects participants to share acquired knowledge and skill with community members for better produces returns.

“These are series of training CAT continue impart smallholders farmers to get maximum benefits of their production. We want sustainable agriculture production.

“When a farmer knows how to manage crops, productions records and able to know markets for produces, expect total transformation in agriculture for the country,” lauds Nkhoma.

One of the participants, Christopher Sandifore, from Mpenu Grain and Regume Cooperative in Lilongwe said the training has opened up his eyes on market access for produces.

“The training has enlightened us on how to manage crops after harvest that we shouldn’t incur loses,” excited Sandifore.

ATI Programs Manager Riz Khan expressed satisfactory on how funding is being utilized towards uplifting farmers livelihoods in agriculture.

Khan assured CAT of continues support towards CAT programs on smallholders farmers.

Foundation for a Smoke- Free World through ATI has pumped about US$13.7 million since 2019 towards CAT programs in Malawi.

Chakwera opens 2024 tobacco marketing season for better prices

KASUNGU-(MaraviPost)-President Lazarus Chakwera has opened this year’s Tobacco marketing season at Chinkhoma selling floors in Kasungu.

The opening of the market brings hope to the country as expectations are high that the market will help ease out the shortage of foreign exchange currency in our economy thereby assuring the availability of strategic commodities such as fuel and medicines.

Farmers are expected to enjoy good prices as Tobacco industry regulator, Tobacco Commission says ten Tobacco buying companies are set to compete to purchase an estimated output of 140 million kilograms.

Lilongwe, Limbe and Mzuzu floors open on 16th April 2024 and 7th May 2024 respectively.

Earlier in the day, President Chakwera opened state of the art Tobacco Commission office complex and also inspected progress of the construction of 110 officers houses at Engineering Battalion of the Malawi Defence Force (MDF).

Old Mutual Foundation Trust donates MK10m medical supplies to Nkhotakota floods survivors

BLANTYRE-(MaraviPost)-Old Mutual (Blantyre) Foundation Trust on Friday, April 12, 2024handed over a donation of medical supplies worth over MK10 million to the Nkhotakota District Council to help improve health service delivery following recent flooding in the district.

Speaking during the handover ceremony at Nkhotakota District Hospital, Brenda Mwale, one of the Trustees of the Old Mutual Foundation said the decision to donate came after observing the serious circumstances faced by flood victims and the strain on local authorities.

“We saw how Nkhotakota district was devastated by the floods, and we are coming in to help lessen the problems that people here are facing. We checked with the authorities to find out the most critical needs, and we were directed to support by procuring medical supplies that we are handing over today,” she said.

Receiving the donation on behalf of the Nkhotakota District Commissioner, Victor Chithabwa, Director of Administration at the Nkhotakota District Council, expressed gratitude to Old Mutual for extending support to the affected communities.

Chithabwa acknowledged the overwhelming nature of the disaster, which saw the establishment of several camps to accommodate displaced residents.

“We are greatly strained on essential services like healthcare, therefore, the coming in of Old Mutual (Blantyre) Foundation is a huge relief,” he said.

Nkhotakota was affected by floods beginning in February, and according to the Department of Disaster Management Affairs (DoDMA), 14,176 people were affected and 9378 were displaced.

NBS Bank Plc introduces EazyApp for corporates

BLANTYRE-(MaraviPost)-NBS Bank Plc has expanded its digital offerings by launching a Corporate EazyApp to cater to corporate client’s needs.

The Bank’s Acting Head of Marketing and Customer Experience James Chikaonda said in an interview yesterday that the strategic expansion complements the existing retail application, enhancing the bank’s digital ecosystem by providing a tailored, efficient, and secure online banking experience for corporate users.

“This application is a testament to NBS Bank’s innovative approach, aiming to provide corporate clients with a comprehensive suite of digital banking tools that empower them to manage their finances effectively and make informed decisions swiftly.”

“With the Corporate EazyApp, NBS Bank reaffirms its status as a forward-thinking financial institution that understands and responds to the evolving needs of its corporate clientele, while continuing to uphold the values of care and convenience that define its brand,” said Chikaonda.

He added that the application signifies the ‘Caring Bank’s commitment to facilitating seamless financial management and operational efficiency for businesses, aligning with its promise to make banking ‘Eazy’ for all customer segments.

The Corporate EazyApp, among othe advantages, facilitates easy and quick transfer of funds between intra-banks and inter-banks, allows users to access and review bank statements, and maintains a structured system for transaction verification.

According to the bank, the new application also incorporates roles for inputters, auditors and authorizers to ensure security and compliance, providing an audit trail and accountability for financial activities.

Standard Bank clocks 55 years: Pledges driving Malawi’s vision for inclusive wealth

LILONGWE-(MaraviPost)-Standard Bank Plc, which opened its first branch in Limbe on 11th April 1970, is today commemorating 55 years in Malawi and pledges to continue driving the country’s vision of achieving inclusive wealth and self-dependence by 2063.

In a statement on its 55th anniversary, Standard Bank says it takes pride in its legacy of leading to shape Malawi’s future as envisioned in the #MW2063 blueprint.

“As we continue to steer Malawi towards achieving the status of an inclusively wealthy and self-dependent nation, we pledge to do so in a manner that is responsible and sustainable.

“The commemoration of our foundations is a platform to reaffirm commitment and responsibility towards growing together with Malawi. During this anniversary we will demonstrate our tangible contributions towards socio-economic development of the nation,” reads the statement.

The bank says to provide solutions to the country’s emerging problems, the bank is strengthening partnerships with key stakeholders by engaging them to generate consensus for collective action on national development.

The bank says it has created the Standard Bank Leadership Round Table series as a platform for engagement with key stakeholders.

“The Standard Bank Leadership Round-Table discusses policy reforms specifically designed to trigger economic recovery, growth, and sustainable development of the country,” reads the statement.

Some of the recent reforms successfully facilitated by the Standard Bank Leadership Round-Table include the waiver by government of Visa restrictions, which aims to boost tourism revenue, the fast-tracking of Mining Development Agreements (MDAs) and mining policy reforms, and boosting local capacities for exports.

Standard Bank says it has repositioned itself to provide financing solutions tailored to respond to the needs of national growth in the key sectors of Agriculture, Trade, Tourism, Infrastructure, and the Financial sectors.

The bank also cites its role as the joint lead financier of the spatial Mzimba/Kenyatta road in Lilongwe which promises to transform the city’s transport corridors and commerce. “This is one of the many long-term infrastructure projects undertaken by Standard Bank that demonstrates our capacity to take on large projects of national public interest,” reads the statement.

It adds that the bank’s Corporate Social Investment (CSI) agenda is designed in line with the Bank’s Social Impact initiatives to improve the general population’s welfare through interventions in Health, Education, Financial and Gender Inclusion, Youth and Sustainable Development.

FDH’s Golden Union Promotion excites customers

BLANTYRE-(MaraviPost)-FDH Money Bureau says the on-going Golden Reunion Promotion has received tremendous customer support as excitement builds for the second draw.

FDH Money Bureau Managing Director Anthony Chimuna said the promotion, which was launched in February, has excited most customers who visit the Bureau to do international money transfer transactions as it offers them a chance to reunite with their loved ones if they win the grand prize.

“The Golden Reunion Promotion is giving a chance for people to win MK500 000 monthly or a grand prize of a free trip to the country where one received money from abroad using Western Union or MoneyGram.”  

“The grand prize is fascinating to people as it offers an opportunity of an all-expenses paid-trip to meet their family or friends abroad, and they can’t afford to miss,” said Chimuna.

FDH Money Bureau customer, Kennedy Salim, expressed his anticipation of being a winner in the promo.

“I heard of the Golden Reunion Promotion through my frequent visits and interactions with FDH Money Bureau. I am optimistic that I can win  the promotion as I am one of the loyal customers of FDH Money Bureau.” 

“I usually use the FDH Money Bureau to withdraw money received from my family abroad through Western Union and I enjoy the fast and reliable services I experience,” said Salim.

The promotion will run until April 30 2024 with two monthly draws of K500 000 cash prizes and 20 percent cash back bonuses to 20 winners. 

The grand prize is a return air ticket to the sender’s location, with all expenses paid.

FDH Money Bureau is a subsidiary of FDH Financial Holdings and offers nationwide forex and international money transfer services.

NBM Plc touts digital uptake in ‘Popanda Chifukwa’ promotion 

BLANTYRE-(MaraviPost)-National Bank of Malawi Plc says the number of customers utilizing their digital platforms has grown beyond expectation since the launch of the ‘Popanda Chifukwa’ Mo626Pay/POS Promotion in December last year. 

The Bank’s Cards Acquiring and Merchants Services Manager, David Tamula said this during the third monthly draw of the promotion which took place in Zomba at the weekend.

Tamula observed that the storming sessions that the Bank has been conducting in various outlets for instant prizes have also brought excitement amongst the customers. 

“The promotion was designed just to appreciate our customers’ loyalty as we also complement government efforts in ensuring we have a cashless society. Customers have always embraced our digital platforms but this time it has gone beyond our expectation.”

“Mind you, we had set our targets the time we were launching the promotion, but surprisingly we have already passed the target of people using our digital platforms, yet the promotion is still running,” said Tamula. 

Before conducting the draw, NBM Plc officials held storming sessions at Zomba PEP stores where people who paid for the items bought using the Bank’s POS machine and other digital platforms won various instant prizes like umbrellas, caps, T-shirts, drinking bottles, key holders, pens and others. 

One of the instant winners, Ernest Gidala said he was excited to have been rewarded after embracing the smart banking solutions.

“I am one of those who never liked the idea of paying for things using debit cards and other digital channels, but I realized this is the safest way than carrying money in the pockets. I thank NBM Plc for the promotion,” he said. 

During the third draw, three lucky winners took home K150, 000, while 30 got a 50% cashback from their payment made through NBM digital channels. 40 customers got gift packs. 

In the evening, the ‘Bank of the Nation’ also graced the Zomba Beerland Festival at Domino Garden, where several customers also won various instant prizes. 

The Bank is expected to conduct its final raffle draw at the end of this month, where four lucky winners will walk away with K1.5 million each.

Credible Investments Limited rubbishes CDEDI’s malicious claims on firms’ selling counterfeit products

LILONGWE-(MaraviPost)-One of the country’s cigarette manufacturing companies, Credible Investments Limited (CIL) has dared Centre Democracy and Economic Development Initiatives (CDEDI) to produce concrete evidence that the company produces and sells counterfeit, illegal, and expired products on Malawi market.

The company’s statement issued on Tuesday, April 9, 2024, made available to the local media has accused CDEDI of hopeless to drag the company down with malicious claims.

In the statement signed by its Executive Director, Abbas Nasser observes that CDEDI has no basis to claim that the firm produces counterfeit products, including its brand Ceasar Cigarettes.

Abbas is responding to CDEDI Executive Director Sylvester Namiwa’s press conference held on Thursday, April 4, 2024 at Korea Gardens in Lilongwe which claimed that CIL sells expired, illegal and counterfeit products on the market, evades taxes and employs illegal immigrants.

“On legal status, Credible Investments Limited (CIL) is company registered under the laws of Malawi and licensed to produce Caesar Cigarettes since March 2022. Caesar Cigarettes are manufactured and packaged at the company’s factory at Njewa in Lilongwe. CIL’s parent company is registered in the Republic of South Africa and also supplies Caesar Cigarettes to countries including Zambia, Mozambique, South Africa and the DRC.

“On certification, our products are certified by the Malawi Bureau of Standards (MBS), who continuously monitor and inspect our factory and products in accordance with their regulatory mandate. Sometime in September 2023, our attention was brought to the presence of counterfeit products on the market being sold without MBS’s pre-certified labelling and expiry dates. In addition to taking appropriate steps to apprehend the culprits, we immediately alerted MBS and shared with them relevant information and our concerns,” reads CIL statement in part.

Abbas adds, “It is unfortunate that CDEDI, in pursuit of whatever agenda they have against CIL, chose to withhold this information from the public and to, instead, falsely allege that it is our company distributing counterfeit products in competition with our own genuine Caesar Cigarettes.

“As we continue to take all legal measures to flush out counterfeit products similar to ours across the country and to ensure that our customers enjoy our quality and genuine products, we appeal to our customers to report to us or to Police or MBS of any counterfeit products that they come across for appropriate action”.

On taxation, Abbas explains, “The Company is registered for all applicable taxes and files all required returns and declarations with the Malawi Revenue Authority. All our selling points operate with the required fiscal devices and issue VAT receipts for all sales. We pay all applicable taxes.

“CDEDI’s allegations of tax evasion are false and without any factual or legal basis. We challenge CDEDI to bring forward to us evidence of any sale carried out in contravention of tax laws”.

On workers, CIL stated, “Our staff compliment includes local workers and foreign nationals with work permits issued in accordance with applicable immigration and labour laws. An inspection recently carried out by the Immigration Department following CDEDI’s false allegations verified and cleared our company of any wrongdoing. We also want to dispute CDEDI claims that CIL runs two shifts for workers. It’s only one shift in a week working hours.

“We challenge CDEDI to bring forward to us evidence of any CIL employee working without a valid permit. There is no truth in any of CDEDI’s claims, which are apparently intended to cast our company in bad light with the obvious effect of disrupting our business and the markets for our products for the benefit of parties only CDEDI can identify. The deliberate misinformation is malicious and unfortunate”.

On March 5, 2024, CDEDI claimed to have engaged MRA director general John Biziwick requesting him to make available CIL’s value-added tax (VAT) machine duplicates for almost 400 cartons sold to various wholesalers in Central and Northern regions between January and February 2024 amounting to about K190 million.

However, CIL challenges on this claims, “We believe if CDEDI indeed found these boxes on the market, then it should be the smuggled products and not our original Caesar cigeratte”.

But, in response, MRA rebuffed CDEDI, arguing, among others, that taxpayers’ personal and financial information was confidential and can only be used for purposes of carrying out lawful duties.

“We cannot comply with your request to provide information but have taken note of the allegations raised and will investigate accordingly,” reads MRA’s response, dated March 28 2024 and signed by information officer Dorothy Mataya.

Old Mutual aids MK6million towards MCCCI leadership summit

BLANTYRE-(MaraviPost)-Old Mutual Malawi on Monday, April 8, 2024, aided MK6 million towards Malawi Confederation of Chambers of Commerce and Industry (MCCCI)’s annual Business Leadership Summit.

MCCCI summit is slated for April 25 to 27, 2024 at Sunbird Nkopola in Mangochi.

Handing over the cheque to MCCCI officials in Blantyre Old Mutual Malawi Group Chief Executive Office Edith Jiya said, “Old Mutual Malawi to stand and mark this significant moment in our collective journey towards fostering business excellence and innovation.

“MCCCI always put up effort to organize such a remarkable event every year that empowers business leaders and encourage innovation in our beloved country. Your dedication to fostering growth and prosperity within our business community is truly commendable.

“As a responsible business, we are committed to contributing to the success of this event, and indeed to growth of our industries, and it is therefore, against that background that Old Mutual is sponsoring this year’s summit with MK6 million as platinum sponsor. Our contribution has gone to the purchase of writing pads and pens to be used by esteemed delegates at the summit,” lauds Jiya.

She adds, “This year’s summit coincides with our 70th anniversary. Having started operations in Malawi in 1954. As part of the commemoration, we are actively engaging our stakeholders to present our gratitude for the support they have given us in the past 70 years.

“MCCCI remains our key stakeholder and this sponsorship contribution is one of the ways of saying thank you for your support. Allow me to also express my gratitude for honoring Old Mutual through a speaking opportunity at this  year’s summit,”.

Jiya explains further, “This event presents us with an opportunity to share our business perspective as far as the industry is concerned. We trust that knowledge that will be shared at the summit is critical and one of the fundamental pillars of sustainable development required in business today.

“As we embark on this journey together, let us remember the power of collective action. By joining hands and working towards a common vision of prosperity and progress, we can overcome any challenge and unlock endless possibilities for the future. I therefore call upon other corporate to follow suit in supporting MCCCI in this event and other agenda”.

In her remarks, MCCCI Chief Executive Officer Daisy Kambalame lauded Old Mutual for the timely support that funds will be contribute towards success of the summit.