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
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  • Raymond Ackerman, South African.
  • Aliko Dangote, Nigerian.
  • Manu Chandaria, Kenyan.
  • Onsi Sawiris, Egyptian.
  • Brian Joffe, South African.
  • Strive Masiyiwa, Zimbabwean.
  • Wale Tinubu, Nigerian.
Business, Regional

Greenbelt Greenhouse’ bell pepper rakes in MK109bn from South Africa export market

Maravi Post Reporter

By Twink Jones Gadama

BLANTYRE-(MaraviPost)-In the heart of Malawi, a small but mighty company is making waves in the agricultural sector.

Greenbelt Greenhouse Limited (GGL), a subsidiary of the Greenbelt Authority, has seen unprecedented success in the exportation of Bell Pepper to South Africa.

With a total revenue of over MK109 billion and counting, GGL is proving to be a formidable player in the international market.

The company’s latest milestone came today, as they completed their 26th trip to South Africa, exporting a total of 3 tons of Bell Pepper.

This ongoing success can be attributed to GGL’s dedication to quality products and strong relationships with international buyers.

Tamandani Chanza, the Sales and Marketing Manager for GGL, shared the impressive numbers behind their exportation efforts.

“We have generated 65 million US Dollars from 70 tons of exports so far,” Chanza stated. “This has not only contributed significantly to the generation of foreign exchange for our country but has also helped us establish a strong presence in the South African market.”

But GGL’s impact goes beyond just revenue generation. The company has been actively participating in Malawi’s import substitution drive, selling their high-quality Bell Pepper products on the local market for the past four years.

This dual approach to market expansion has allowed GGL to support both global trade and local economic growth.

Mesiya Moleni, the Agriculture Production Manager for Greenbelt Authority, expressed her excitement about GGL’s success and its alignment with the Authority’s vision for agricultural commercialization.

“GGL’s achievements are a testament to the potential of our agricultural sector in contributing to national economic growth,” Moleni stated. “We are proud to see their hard work and dedication paying off.”

The success of GGL is not only a testament to the company’s dedication to quality and innovation but also to the potential of the agricultural sector in Malawi.

With the right support and strategic planning, companies like GGL can continue to thrive and contribute to the country’s economic development.

As GGL continues its journey in the international market, one thing is clear: the future looks bright for this Malawian company.

With a strong foundation built on quality products, market expansion, and a commitment to local economic growth, GGL is paving the way for a new era of agricultural success in Malawi.

In conclusion, the success of Greenbelt Greenhouse Limited in the exportation of Bell Pepper to South Africa is not only a financial victory but also a testament to the potential of Malawi’s agricultural sector.

As the company continues to grow and expand its reach, we can expect to see even more impressive achievements in the future.

With dedication, hard work, and a commitment to excellence, GGL is setting a shining example for the agricultural industry in Malawi and beyond.

Business

NBS Bank Plc celebrates Valentines Day with chocolates to customers

Maravi Post Reporter

LILONGWE-(MaraviPost)-As people across the world showed love to their loved ones on Valentine’s Day, NBS Bank Plc took an opportunity to celebrate with its customers by giving out chocolates to their customers in service centres countrywide.

The Bank’s Acting Head of Marketing and Customer Experience, James Chikaonda said the initiative was meant to appreciate the customers for their loyalty to the brand.

“As the Caring Bank, we believe that exceptional customer experience is one of the keys to memorable customer service. The chocolates are a token of the Bank’s appreciation to our customers for choosing to bank with NBS Bank,” said Chikaonda. 

One of the customers, Mary Changwa, thanked the Bank for showing her caring side during Valentine’s Day.

“I didn’t expect this from my Bank. It came as a surprise and has really served its purpose on Valentine’s Day. Bravo NBS Bank,” said Changwa at Ginnery Corner Service Centre in Blantyre. 

Valentine’s Day is celebrated on February 14 every year. This year, the day fell on Wednesday this week.

Business

NBM supports lawyers’ conference with MK3 million

Maravi Post Reporter

BLANTYRE-(MaraviPost)-National Bank of Malawi (NBM) Plc has given MK3 million to the Malawi Law Society (MLS) for their annual general meeting (AGM) in March this year.

Speaking during a symbolic cheque presentation at NBM Head office in Blantyre on Wednesday, the Bank’s Senior Legal Manager Mercy Mulele said NBM plc has been impressed with the Law Society’s work of upholding the rule of law.

“As a Bank, we need to have good microeconomic factors as we operate, and that is highly affected by the political environment that we are in. So, we are hoping that when the political environment is conducive, we are going to strive.”

“We expect that this conference will go a long way to making sure that the elections of 2025 go according to the rule of law and what the laws of Malawi provide,” said Mulele.

MLS Chief Executive Officer Chrispin Ngunde said the support received will help the society to have a successful annual general meeting. 

“Our theme is interrogating the Malawi Electoral System as we move towards the 2025 general elections. At the conference, we are going to discuss several things including our current electoral laws, where we are coming from, and where we are going. We want to see if the laws have any gaps and if we can contribute in any meaningful way by making suggestions to the Electoral Commission and all stakeholders involved in an election.”

“For any economy or business to strive you require a stable political and business environment, if we are going to have successful elections and put in power people who have the right vision and those who are going to help us build our economy,” explained Ngunde.

MLS will hold its annual general meeting in Mangochi from March 21 to 24 under the theme ‘Interrogating the Malawi Electoral System Towards 2025 general elections.’

Agriculture, AMA

Making Fermented Milks in Kenya Safer—the Result of Local Research

MaraviPost

NAIROBI, Kenya, 13 February 2024, /African Media Agency/– Milk fermented in traditional ways is a popular part of the day-to-day diet of many Kenyan communities. From Mursik, popular with the Kalenjin, to Amabere amaruranu and Kule naoto, consumed by the Kisii andMaasai communities respectively, fermented milk is a key source of nutrition. Often, however, the way these variations of fermented milk are prepared falls far short of best practices in food safety and ends up posing health concerns for consumers.

Mitigating the risks brought about by unsafe food is one of the challenges being addressed by the Centre of Excellence in Sustainable Agriculture and Agribusiness Management (CESAAM) based at Egerton University in Kenya.  The Centre is one of 24 supported by

the Eastern and Southern Africa Higher Education Centers of Excellence Project (ACE II), funded by the International Development Association (IDA) of the World Bank.

The project supports higher education in areas of priority to regional development, such as industry, agriculture, health, education, and applied statistics, with each ACE receiving a grant of up to $6 million to carry out the research it proposed. An extension of ACE I, a similar project in West and Central Africa, ACE II operates in eight countries, Ethiopia, Kenya, Malawi, Mozambique, Rwanda, Tanzania, Uganda, and Zambia.

Africa’s population is growing, and food security is an increasingly important challenge to address. “One aspect of food security is food safety. Here in Kenya, we have different communities producing different types of fermented milk. These products are produced in a traditional way, which means the process has not been standardized,” said Dr. John Nduko, a lecturer at Egerton University’s Department of Dairy, Food Science and Technology, who holds a PhD in Chemical Sciences and Engineering.

Dr. John Nduko’s research into a starter culture for traditional fermented milk could make it safer and more commercial. The center he works in at Kenya’s Edgerton University has received IDA and other donor funds as part of the regional Africa Center for Excellence program for academics. 

Photo: Abdi Yusuf/World Bank

To accelerate standardization, CESAAM is facilitating the development of starter cultures that could be distributed to the mass market. A starter culture is a batch of micro-organisms, used in foods such as fermented dairy products, of which yoghurt is a typical example.

Local starter cultures are not yet manufactured widely and in controlled conditions, in the country. “In Kenya, most of the starter cultures used in the production of fermented products are imported. This means that all the products you see in the market, like yoghurt, rely on imported starter cultures,” said Nduko.

CESAAM is not only improving the food safety of traditionally fermented milk but it also seeks to make sure it can be commercialized and to help producers generate sustainable, steady incomes from it. This is being done through the domestic production of starter cultures.

“By locally producing these starter cultures, we can be able to generate our own products from our traditionally fermented milk, and even the local communities will be able to produce them, which means they will be able to contribute to manufacturing using indigenous knowledge,” Nduko said.

Buying local

The local production of starter cultures is an example of the impact CESAAM is having in strengthening food security, food safety, and, in turn, public health and human capital. The Centre has been pivotal in making starter cultures scalable and available. 

ACE II began in 2016 and is due to run to 2025. “When CESAAM started at Egerton University, we had just started with production of these products, and we were able to identify the micro-organisms,” said Nduko. “By then, what we had produced was basically for research.”

Outside funding has made it possible for it to take a new product to the market, scale it up, and get it registered. The Centre worked with the Kenyan government to make sure its innovation received the policy support it needed to accelerate public uptake. “We have had discussions with the Kenya National Innovations Agency, which has created what it calls ‘The Innovation Bridge’.”

Once loaded onto a designated website, the agency can link CEESAM’s product to industries with a possible interest in its potential. The rollout of local starter cultures is expected to benefit women in particular, and to help counter gender-driven income disparities among them, especially in rural areas of Kenya. This, Nduko said, was important. “When we were doing the analysis of these products, we ensured that our research was gender sensitive because we realized that, in most cases, it is the women who are involved in the production of the fermented milk products.”  

The World Bank is a key contributor to regional collaboration and integration across Africa, helping prioritize human development. The ACE I and II projects support the development of some of the professional skills needed for innovation and research.  

Distributed by African Media Agency on behalf of African Development Bank

The post Making Fermented Milks in Kenya Safer—the Result of Local Research appeared first on African Media Agency.

Source : African Media Agency (AMA)

Business, Lifestyle

Chakwera’s 2024 SONA: Standard Bank for more accountability in government

Maravi Post Reporter

LILONGWE-(MaraviPost)-Standard Bank Plc, listed on the Malawi Stock Exchange (MSE) has applauded President Lazarus Chakwera for heeding calls to make reforms in some pertinent areas of the country’s economy, but urged the President to be firm on accountability in government systems.

In a statement responding to the President’s State of Nation of Address, Chief Executive Phillip Madinga whose bank provides a tripartite dialogue platform on national economic reforms said the decision by government to remove visa restrictions and implement reforms in the mining sector represent positive strides towards restoring economic growth.

“Whilst we applaud these positive steps and developments, as a key partner for Malawi’s growth, we implore on the President and Government to reinforce an effective performance management system for all Ministries, Departments and Agencies (MDAs) and implement an accountability framework where performance of all MDA personnel up to Ministerial level is continuously assessed publicly. We believe this would complement current efforts by government to put economy on a sustainable recovery and growth path,” said Madinga.

The chief executive said removal of entry visa restrictions, announced by Home Affairs Minister Ken Zikhale N’goma in a Gazette last week and signing of the Mining Development Agreements (MDAs) with Kanyika Mines, are among the five issues tabled during Standard Bank’s Leadership Round Table series which brings together private sector, government, and donors to discuss the economy.

“We welcome the Government’s renewed focus on mining development. The sector is key to government’s recently adopted Agriculture, Tourism & Mining (ATM) strategy, as mining seeks to complement the role that the agriculture sector has played over many decades as the key earner of foreign exchange and growth for Malawi,” he said.

He added; “We look forward to the conclusion and signing of the other remaining Mining Development Agreements that are currently under negotiation.”

On the easing of entry visa restrictions, Madinga said the move would in the medium to long-term help Malawi boost inflows of much-needed foreign currency and position the country as an ideal foreign direct investment destination.

“Easing travel restrictions for developed countries also sends strong intent of the government’s commitment and readiness to do business with major global investors seeking to move their capital to selected African markets endowed in natural resources and agriculture. Malawi offers this obvious potential,” he said.

Now in its second year, the Standard Bank-hosted Leadership Round Table series attracts powerful figures in policy and decision-making institutions at government, donor and private sector level.

The last session on December 12, 2023 highlighted five key areas needing urgent reform, and included the push for a more independent Reserve Bank of Malawi (RBM).

Business, Malawi

Chakwera bold on Malawi’s economic recovery: 2024 SONA

Maravi Post Reporter

By Twink Jones Gadama

LILONGWE-(MaraviPost)-In a historic moment for the nation, President Chakwera, delivered a stirring State of the Nation Address (SONA) at Parliament in Lilongwe. With thunderous applause ringing through the hallowed chambers, President Chakwera unveiled a roadmap to prosperity, showcasing the government’s achievements and unveiling bold plans for the future.

In a move that sent shockwaves through the country, President Chakwera proudly announced a staggering 197,809 new jobs created in the current financial year alone.

This monumental achievement brings the cumulative total of new job opportunities since 2020 to a jaw-dropping 1,358,809.

The President emphasized that the majority of these life-changing opportunities have emerged in critical sectors such as Agriculture, Health, Education, and management support services.

One of the standout moments of the address was when President Chakwera revealed the groundbreaking labour export deal with Israel.

With infectious optimism, he predicted economic windfalls through an anticipated US$6 million in remittances annually.

The President’s eyes gleamed with pride as he expressed gratitude to the Honourable members of the House who recently visited Israel, validating the legitimacy and safety of the program.

The room buzzed with excitement as President Chakwera announced plans to sign a monumental Government-to-Government initiative and agreement with Israel, set to export 100,000 young Malawians for lucrative employment opportunities.

“I want to thank those Honourable members of the House who recently went to Israel to see for themselves that the program is legitimate and safe. And what is most exciting is that we are now on course to sign a Government-to-Government initiative and agreement with Israel, aimed at exporting 100,000 young people to go and work there,” President Chakwera declared, to raucous applause.

As the crowd hung on his every word, President Chakwera turned his attention to the energy sector, proudly declaring the end of blackouts under his visionary leadership.

With unwavering determination, he reiterated the government’s commitment to raising the generation capacity to an impressive 1,000 megawatts.

“And now that we are here, we will not stop, for our target has always been to increase our power generation capacity to 1000 Megawatts,” the President asserted, sending waves of excitement through the audience.

In a bold display of progress, President Chakwera unveiled plans to add 361 Megawatts through investment in the Mpatamanga Hydro Power Plant and an additional 120 Megawatts through the Malawi-Mozambique Interconnector Project. These transformative initiatives are set to revolutionize the country’s energy capacity, ensuring a more stable and reliable power supply for the proud citizens of Malawi.

As President Chakwera’s words echoed through the halls of Parliament, a sense of hope and promise permeated the air.

The future of Malawi shone bright, illuminated by the bold actions and visionary leadership of a President determined to lead his nation to greater heights.

With transformative initiatives on the horizon, the economic miracle unfolding in Malawi under President Chakwera’s stewardship is nothing short of extraordinary.

Business

NBM customers embrace POS/MoPay payments

Maravi Post Reporter

BLANTYRE-(MaraviPost)-The National Bank of Malawi (NBM) plc Point of Sale (POS) and MoPay platforms have gained ground with more customers willing to take part in the MK60 million ‘Popanda Chifukwa’ promotion currently running.

NBM plc introduced the promotion in December with an aim of rewarding customers that use their POS machine and their MoPay facility to pay for goods and services in various shops.

Two weeks ago, the Bank conducted its first monthly draw at Gateway Mall in Lilongwe which saw three people winning K150, 000, while 73 others won cashbacks.

Before the draw, the Bank conducted a storming session at Gateway Shoprite where customers won instant prizes, before invading Epic Exclusive Lounge in the evening.

Last Saturday, the Bank held similar storming sessions at ClockTower Mall in Blantyre, which has brought more excitement to the customers.

Commenting on NBM’s Facebook Page, customers wondered when the Bank will conduct such sessions inn their respective areas.

Mkandawire AK Gomezgani said: “When National Bank of Malawi is in town, it holds you with a new tech and no need to carry cash when you are doing any transactions, just use NBM POS or MoPay. This is something we have been waiting for. Let us walk with the Bank of the Nation.”

Andrew Phiri also commented: “Ife amene tili ku Chidebwe mutiganizira bwanji? Ma customer si a mtown okha nkumapangira ‘Popanda Chifukwa’ (What is the plan for those of us based at Chidebwe? Do not just plan for customers in towns only for ‘Popanda Chifukwa’ [Promotion].”

NBM Marketing and Corporate Affairs Manager, Akossa Hiwa said the Bank was excited with such feedback as it shows that Malawians have embraced the digital payments.

“The support, the response has been amazing. As National Bank of Malawi plc, we will continue developing tailor-made solutions for Malawians.

“The beauty with this promotion is that it does not accommodate our customers only, even customers from other Banks can win prizes if they transact using our POS machines. We will be storming various places to give chance to our customers to win various prizes,” she said.

The ‘Popanda Chifukwa’ promotion will run up to April end.

Business

Standard Bank Chief says Visa Removal to boost forex

Maravi Post Reporter

BLANTYRE-(MaraviPost)-Government’s decision to heed calls for removal of Visa restrictions into Malawi will help the country increase inflows of scarce foreign currency, Chief Executive or Standard Bank Plc Phillip Madinga has said.

Madinga, whose bank has been advocating for the relaxation of the Visa requirement described the government’s decision as timely as the country continues to battle foreign currency shortage.

“The development will help make Malawi an attractive tourism destination and boost foreign currency flows in the long-term,” he said.

Removal of Visa restrictions is one of bottlenecks identified during the bank’s-led Business Leadership Round-Table on December 12.

The high-level forum brings together government, regulatory agencies, donors and private sector to discuss areas of economic policy reform.

Home Affairs Minister Ken Zikhale N’goma announced the removal of the entry restrictions in a Gazette published on Wednesday.

It said the government has lifted the restrictions for 48 countries including USA, United Kingdom, Germany, France, Australia, China and Russia which are considered key source markets for international tourism and business arrivals into Malawi.

The Visa exemptions also apply to all SADC and Comesa member states, including some multilateral institutions that do business with the Malawi government.

Business

Airtel Malaw is here to stay: Gets new 10 years operating licence

Maravi Post Reporter

LILONGWE-(MaraviPost)-The Malawi Communications Regulatory Authority (Macra) has issued a new operating licence to Airtel Malawi plc for another 10 years.

The new licence marks exactly 25 years since Malawi Stock Exchange -listed firm was granted its initial licence on February 5, 1999 and subsequently renewed it for another 10 years in February 2014.

Addressing reporters on Tuesday night, February 5, 2024 in the capital Lilongwe, Airtel Malawi managing director Charles Kamoto said that the new licence gives the company a challenge to do more on Digitalization.

Kamoto addes that the new mandate is a memorable and remarkable occasion for Airtel Malawi, the entire telecommunications sector and the country, considering the significant contributions Airtel Malawi has made to the country since 2014.

“This a great day for us considering the contribution we have made. We have invested US$176 million in infrastructure since we got established.

“Currently, we have connected seven million customers of which two million are using data.”

Macra issued three licences to Airtel Malawi, including, an application service licence, network facility licence and network services licence.

Macra Director General Daudi Suleman expects quality delivery of digital and network provision.

“This new licence gives Airtel a challenge to do better. We don’t want erratic network,” says Suleman.

With 25 years in operation, Airtel network has reached over 88% of the Malawi population.

AMA, Business

Press Release: 2024 U.S.-Africa Business Summit: Partnering for Sustainable Success; Celebrating MCC’s 20 Years of Poverty-Reducing Development

MaraviPost

WASHINGTON, DC, USA, 6 February 2024, /African Media Agency/-The Corporate Council on Africa (CCA) is proud to announce that the 2024 U.S.-Africa Business Summit will take place in Dallas, Texas May 6-9, 2024, with the theme “U.S.-Africa Business: Partnering for Sustainable Success.” CCA’s signature event, the U.S.-Africa Business Summit, is the premier platform focused on U.S.-Africa trade, investment, and commercial engagement that annually brings together African Heads of Government, Senior U.S. and African Government Officials, and American and African senior business executives across a range of business sectors including agribusiness, energy, finance, health, ICT, infrastructure, security, tourism and trade facilitation. Texas hosts the largest African diaspora population of any state in the United States. And Dallas – as the location of headquarters and major business operations for a large number of Fortune 1000 firms – is the ideal location to facilitate the exchange of ideas and strategies that will shape the future of U.S.-Africa business relations and private sector-led economic growth both in the United States and on the African continent

To date, three distinguished African Heads of State have confirmed their participation in the Summit, including President Mokgweetsi E.K. Masisi of the Republic of Botswana, President Faure Gnassingbé of the Republic of Togo, and Dr. Lazarus McCarthy Chakwera of the Republic of Malawi. Over the coming months, other African Heads of State, Ministers and senior U.S. and African government officials as well as corporate executives are expected to confirm their participation in the 2024 U.S.-Africa Business Summit. Their presence underscores the importance of the Summit as a platform for high-level discussions and economic partnerships between the United States and Africa.

This year, CCA is proud to partner with the Millennium Challenge Corporation (MCC) to celebrate its 20th anniversary and highlight MCC’s $10.4 billion U.S. Government investment in infrastructure across more than 24 African countries. From power projects to roads, ports, education, ICT, health and more—MCC’s 42 country-driven development programs address binding constraints to economic growth. A high-level event celebrating MCC’s 20th anniversary will feature distinguished guests, including President George W. Bush and other notable U.S. Government and African Leaders. MCC has worked side-by-side with partner countries to deliver on priorities that promote entrepreneurialism, private sector business investment and job creation for two decades. MCC’s anniversary event promises to set the tone for the Summit, showcasing government and private sector commitment to partnership, U.S.-Africa trade, investment, business, and sustainable economic development. 

The 2024 U.S.-Africa Business Summit in Dallas, Texas on May 6-9 promises to be a landmark event, fostering partnerships that drive sustainable success for the nations, businesses and people of Africa and the United States. Stay tuned for further announcements regarding speakers, sessions, and additional activities that will make this Summit an invaluable experience for all participants.

Registration for the Summit is now open. Register before March 29, 2024 to receive 20% off ticket prices. Visit www.usafricabizsummit.com for more information. 

Distributed byAfrican Media Agencyon behalf of Corporate Council on Africa

ABOUT THE U.S.-AFRICA BUSINESS SUMMIT

The U.S.-Africa Business Summit serves as a platform for African and U.S. private sector and government representatives to engage at the highest levels on a range of issues impacting the U.S.-Africa economic relationship. Summit sessions will focus on key sectors including agribusiness, energy, health, infrastructure, security, trade facilitation, ICT, creative industries, and finance. Summit participants can network with key private sector and government officials, explore new business opportunities, meet potential business partners, and forge new business deals. The Summit also serves as an opportunity to shape and advocate for effective U.S.-Africa trade and investment policies. Over the last 30 years, CCA has hosted more than 50 U.S. and African Heads of State and over 15,000 participants at its Summits.

Visit the official Summit website for more information, www.usafricabizsummit.com

ABOUT THE CORPORATE COUNCIL ON AFRICA:

The Corporate Council on Africa (CCA) is a leading U.S. business association focused solely on connecting business interests between the United States and the African continent. CCA uniquely represents a broad cross-section of member companies from small and medium-sized businesses to multinationals as well as U.S. and African firms.

For more information, please visit www.corporatecouncilonafrica.com. 

ABOUT THE MILLENIUM CHALLENGE CORPORATION:

The Millenium Challenge Corporation (MCC) is an independent U.S. Government agency that partners with developing countries to reduce poverty through economic growth. Celebrating its 20th anniversary, MCC has a proven track record of delivering impactful solutions and fostering sustainable development around the world. For more information, please visit www.mcc.gov.

For media inquiries, please contact:

Stacey Pompey, spompey@corporatecouncilonafrica.com 

The post Press Release: 2024 U.S.-Africa Business Summit: Partnering for Sustainable Success; Celebrating MCC’s 20 Years of Poverty-Reducing Development appeared first on African Media Agency.

Source : African Media Agency (AMA)