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.
Business

Business Partners offer tips to entrepreneurs on achieving success

Maravi Post Reporter

BLANTYRE-(MaraviPost)-Business Partners International (BPI) Malawi, a fund manager that provides debt equity financing, has outlined five steps to enable entrepreneurs to improve their businesses and achieve desired goals in the new year and beyond.

BPI Malawi country manager Akuzike Kafwamba said in an interview the strategies can help entrepreneurs navigate the tough economic environment characterized by the cost-of-living crisis and set themselves up for success.

He said the five steps include reviewing performance and progress of the past year, planning action and resources, seeking feedback and support from others, investing in personal and professional development, and embracing change and innovation.

“An entrepreneur should identify what worked well, what did not, and what they learned from success and failure. They should celebrate their achievements and have knowledge of the challenges,” said Kafwamba.

In terms of planning actions, he advised entrepreneurs to break down their goals into smaller tasks and milestones and assign deadlines and responsibilities for each one.

Kafwamba also advised entrepreneurs not to do everything independently, but to reach out to customers, partners, mentors and peers for feedback.

He also added that entrepreneurs should build a network of people who can provide valuable insights, advice, resources and opportunities.

An entrepreneur, said Kafwamba, has to invest in themselves and keep learning new skills, knowledge and perspectives to help them grow as a leader and problem-solver.

“For an entrepreneur to succeed in a dynamic and competitive environment, there is a need to be adaptable and innovative,” he said.

Kafwamba’s advice comes against the backdrop of a report from the African Development Bank showing that Malawi’s business environment remains largely unfavourable to the growth of small and medium enterprises (SMEs).

Chamber for Small and Medium Enterprises executive secretary James Chiutsi embraced the tips, saying if followed, they can help businesses, particularly SMEs to survive the turbulent business environment.

“Any entrepreneur worth his salt can acknowledge the fact that there is always something new to learn about their business or market,” said Chiutsi, adding the new year brings with it challenges and opportunities for businesses.

Business Partners International Malawi supports viable local SMEs with financing, ranging from MK100 million to K1 billion to boost their businesses.

AMA, Business

Yango supports football fans and local talents during Africa’s biggest Football Festival

MaraviPost

In collaboration with Shado Chris and Paulo Chakal , Yango Creates YANGOOOAL song and launches music competition to celebrate African fans

ABIDJAN, Ivory Coast, 18 January 2024 -/African Media Agency (AMA)/- Yango, an international tech company and one of the leading ride-hailing services in Africa, is not standing on the sidelines of this African football celebration ongoing in Côte d’Ivoire.  

Football unites different nations and people. This championship is not only a celebration of football in Africa, but also a competition of national teams. To show its support and enhance the journey of the fans, Yango has produced an anthem for a regional campaign “Ride the moment” dedicated to the event. The YANGOOOAL song was written by artists Shado Chris and Paulo Chakal. 

The campaign is accompanied by a challenge open to everyone on social media. By making a video to this song to show their love for African football, fans can try to win tickets for the semi finals, 3rd place play-off and the final match of the competition scheduled for 11 February. Fans across Africa can share great experiences and special moments and post the video on social networks using the hashtag #yangoooal.

Soro Kadotien, Country Director of Yango Côte d’Ivoire, said: ‘‘Yango is happy to be part of the party and what better way to celebrate than with good music. We hope that a massive number of football fans will take part in this competition and give themselves a chance to experience the final matches

in person. He added, ‘We’re delighted to offer the best affordable, safe and convenient mobility solution during this great celebration of football. It’s truly the moments that propel us forward. Whether it’s moments with loved ones, new experiences, emotions, or achievements. We hope with this contribution, to amplify football fans’ excitement, support this celebration by choosing fans who will create a video showcasing football and share their emotions. Yango reaffirms its attachment to Africa, where the company has succeeded in establishing itself as one of the leaders in tech that transforms global sourced technologies into everyday services for local enrichment.’’

One of the songwriters, Shado Chris said: “We are proud that Ivory Coast is hosting this championship and to share this song with all fans. We are delighted to have been selected to work on this project by the Yango team trying to unite countries and fans across Africa by sharing Yangoooal beats and lyrics. Yango is a major international company demonstrating its closeness and support to the people of Africa. We are sure the party will be great with this beautiful song.“ 

Yango invites football enthusiasts to celebrate their love for the game while riding every moment with Yango. To enter the ‘Yango Anthem’ contest:

– Create a video showcasing football passion with Yango, set to the ‘Yangoooal’ song.

– Share video on social media using #yangoooal  

– Accumulate the most views by February 3rd to win exclusive prizes. Prizes include match tickets for football fans in Ivory Coast and other gifts for people outside Ivory coast. 

In addition, Yango is putting in place a variety of activation events across the continent to enhance the unforgettable sport festival experience for fans, reinforcing its dedication to safety, affordability and accessibility across Africa. 

Distributed by African Media Agency (AMA) on behalf of Yango.

About Yango

Yango is an international tech company that transforms global technologies into everyday services for local enrichment with an unwavering commitment to innovation and reshaping and enhancing leading cutting-edge technologies from around the world into seamlessly integrated daily services for diverse regions. Yango provides mobility and delivery services through its superapp across more than 20 countries in Africa, Latin America, Europe, and the Middle East. Yango has made a significant impact in Africa as a major local player since its inception.

For more information, please contact: pr@yango.com

The post Yango supports football fans and local talents during Africa’s biggest Football Festival appeared first on African Media Agency.

Source : African Media Agency (AMA)

Business

NBM appoints Harold Jiya as CEO designate

Maravi Post Reporter

BLANTYRE-(MaraviPost)-National Bank of Malawi (NBM) Plc has appointed Harold Nester Jiya as Chief Executive Officer (CEO) designate effective from the beginning of this year.

His elevation from the deputy CEO position follows the impending retirement of the current CEO MacFussy Kawawa in June this year.

NBM Board Chairperson Jimmy Lipunga has confirmed Jiya’s appointment through a statement where he has described it as a significant step in the Bank’s succession planning process.

“The Board is excited with the prospects of Mr Jiya assuming the role of the CEO substantively upon satisfying and fulfilling the necessary milestones set by the Board. He brings a wealth of knowledge, experience, and a proven track record of leadership to this role, and his appointment is a testament to the rigorous succession planning process the Bank has undertaken to ensure a smooth and seamless transition in leadership,” said Lipunga.

Lipunga further indicated that he has full confidence that Jiya will build upon the strong foundation laid by those before him and continue to uphold the values and principles that have made NBM plc a leader in the banking industry.

Jiya, a veteran banker with over 20 years of management and leadership experience, holds a Master of Business Administration Degree from Exeter University in the UK, a Bachelor of Commerce (Accounting) Degree from the Malawi University of Business and Applied Sciences (MUBAS) (formerly the University of Malawi, The Polytechnic), and an ACIB/BSc (Honors) qualification from the UK.

He is also an alumnus of the prestigious Advanced Management & Leadership program of Oxford University’s Said Business School and recently completed an Advanced Management Program at Insead Business School in France.

Jiya has held several positions at NBM, including Head, Corporate Banking/ Wholesale Banking Division, and General Manager, before being appointed Deputy Chief Executive Officer in September 2020.

Before this appointment, he was serving as Deputy Chief Executive, and before that, as General Manager, understudying the incumbent CEO.

“He has extensive financial service experience and is also an Executive Director on the National Bank of Malawi plc Board, a position he has held for the past 7 years. He has served on several boards in the private and public sector and has been in the management team at NBM plc in various roles since 2004,” reads further the statement.

Meanwhile, Lipunga has commended Kawawa for his contribution to the growth of the Bank during his time as the CEO.

“He has nurtured and provided direction to a highly motivated and dynamic leadership team that has grown the Bank and sustained its position as a market leader.

“During Mr. Kawawa’s leadership, NBM plc has delivered stellar results including achieving phenomenal growth in revenues, profitability, assets and shareholder value,” concludes Lipunga.

Business

Tinyadire-Moyowina cooperative: Empowering Dedza vulnerable households

Maravi Post Reporter

By Twink Jones Gadama

BLANTYRE-(MaraviPost)-In an effort to fulfill their corporate social responsibility, Tinyadire-Moyowina Cooperative in Dedza district has taken a significant step towards supporting vulnerable households.

The cooperative recently distributed maize to 66 needy families in the area of Senior Chief Kaphuka, providing relief to those who are struggling to make ends meet.

The cooperative’s act of kindness stems from their remarkable profit of MK8 million, a portion of which was dedicated to purchasing maize worth close to MK1 million.

For families like Griseria Katema’s in Kumterera Village, the support from Tinyadire-Moyowina Cooperative has been a lifeline.

Sixty-year-old Griseria shared her gratitude, expressing how the cooperative’s assistance has significantly lessened the burden of caring for her nine orphaned grandchildren.

This act of compassion from the cooperative has provided a glimmer of hope in an otherwise challenging situation.

Tinyadire-Moyowina Cooperative Chairperson, Daud Maulana, expressed their motivation to support the most vulnerable members of their community.

With a specific focus on the elderly, orphans, and individuals with disabilities, the cooperative aimed to address the various challenges faced by these marginalized groups.

By distributing maize to these specific households, the cooperative has created a ripple effect in reducing the hardships experienced by these vulnerable individuals and families.

Self-help Africa Dedza Office Food Security and Resilience Coordinator, Barton Mwale, commended the efforts of Tinyadire-Moyowina Cooperative, praising them as an exemplary group.

The organization had previously supported the cooperative, and their current financial independence makes them an inspiration to others.

By reaching out to those in need, the cooperative has become a beacon of hope and a model of community solidarity.

In times of adversity, the strength of a community lies in its ability to come together and support those in need.

Tinyadire-Moyowina Cooperative has set a commendable example by dedicating a portion of its profit to assist vulnerable households in Dedza.

By distributing maize to those facing hardship in Kumterera Village and other areas, the cooperative has not only alleviated immediate difficulties but has also ignited a sense of hope and resilience within the community.

Their actions highlight the power of compassion and showcase the positive impact that a united community can create.

Business, Malawi, Opinion

Malawi’s battle against counterfeit banknotes

Maravi Post Reporter

By Twink Jones Gadama

BLANTYRE-(MaraviPost)-Recently Malawi has been confronted with a concerning surge in counterfeit banknotes cases.

As the nation’s economy battles the relentless grip of a financial crisis, some individuals have resorted to illicit activities, such as counterfeiting, to secure their survival.

Amidst this alarming situation, several arrests have been made across different regions in the country, including Lilongwe, Phalombe, Mangochi, Blantyre, and Mzuzu.

Each incidence leaves the nation grappling with questions about the reasons behind this escalating menace.

Surely the growing of counterfeit banknotes crisis in Malawi, has various factors that contribute to its spread and have consequences for the economy of the land and solutions to overcome the challenge should be reinforced.

The Kanengo Incident

The recent arrest of a 38-year-old man, Mphatso Gift Banda, in Lilongwe’s Kanengo area highlights the audacity and desperation of some individuals to produce and utilize counterfeit banknotes.

Attempting to purchase a cellphone at a local shop, Gift Banda unknowingly handed over fake K5,000 notes.

The shop owner, Falos Banda, immediately detected inconsistencies with the banknotes’ appearance, leading to Gift Banda’s apprehension by the police. Further investigation revealed that the suspect possessed an additional K30,000 in counterfeit currency.

Pattern Emerges

Gift Banda’s arrest is not an isolated incident. In the preceding weeks, a series of similar cases have emerged throughout the nation.

The police in Phalombe uncovered a couple involved in counterfeiting activities. Another arrest followed in Mangochi, further highlighting the gravity of the situation.

Blantyre witnessed a similar incident, and most recently, Mzuzu faced a case involving the possession of fake Malawian banknotes.

These incidents amount to a growing crackdown by law enforcement agencies in addressing the issue.

Factors Contributing to the Rise

Numerous factors contribute to the increasing prevalence of counterfeit banknotes in Malawi

Financial Desperation
The ongoing financial crisis has left many individuals struggling to make ends meet. As unemployment rates soar and poverty levels increase, some desperate individuals resort to counterfeiting as a means of obtaining quick and potentially substantial sums of money.

Advanced Technology

Counterfeiters have access to advanced printing equipment and software, allowing them to produce convincing replicas of genuine banknotes. These counterfeit notes often resemble the originals to an uncanny extent, deceiving unsuspecting sellers.

Inadequate Security Features

The presence of subpar security features on genuine banknotes makes it easier for counterfeiters to replicate them. The absence or weak implementation of features such as holograms, micro printing, and color-shifting ink enables counterfeit notes to circulate undetected.

Lack of Awareness and Vigilance

The general public’s lack of knowledge regarding counterfeit banknotes makes it easier for these notes to infiltrate the market.

The Kanengo incident wherein the shop owner noticed discrepancies is an exception, rather than the norm. There is an urgent need to educate and raise awareness among citizens and businesses to detect counterfeit currency effectively.

Consequences for the Economy and Society

The prevalence of counterfeit banknotes has severe ramifications for both the economy and society of Malawi

Economic Instability
The circulation of counterfeit currency disrupts the integrity of the financial system, leading to reduced trust in the currency. This instability undermines foreign investment, hampers economic growth, and ultimately affects the livelihoods of the Malawian people.

Losses for Businesses

Retailers and small businesses often suffer significant losses when unknowingly accepting counterfeit notes. These losses impact their profitability, growth, and capacity to provide employment opportunities.

Increased Crime Rate
Counterfeiting is just one facet of a broader web of illicit activities. The flourishing counterfeiting networks often intersect with money laundering, drug trafficking, and organized crime, leading to an overall surge in criminal activity.

Combating the Counterfeit Menace

Addressing the counterfeit banknotes crisis requires a comprehensive approach involving various stakeholders:

Enhanced Law Enforcement
Government authorities must prioritize measures to investigate and bring counterfeiters to justice. Allocating adequate resources to law enforcement agencies will help combat this challenging issue effectively.

Strengthening Security Features

Collaborative efforts among financial institutions, the Reserve Bank of Malawi, and international partners are crucial in developing and implementing improved security features on banknotes. These features should be difficult to counterfeit and easy for the public to recognize.

Public Awareness Campaigns

Widespread education campaigns should be conducted to educate citizens, retailers, and businesses about the security features of genuine banknotes. Promoting vigilance and providing training on detecting counterfeit currency will aid in its prevention.

Conclusion

The escalating number of counterfeit banknotes cases in Malawi demands urgent attention and a coordinated effort from all stakeholders.

The financial crisis gripping the nation, coupled with advanced technology and inadequate security features, has created a favorable environment for counterfeiters to thrive.

The consequences for the economy and society are severe, necessitating a united front in combating this pervasive menace.

By enhancing law enforcement efforts, strengthening security features, and raising awareness among the public, Malawi can reclaim financial stability and protect its citizens from the clutches of counterfeiting.

AMA, Business, Technology

TPAY to enable Mobile Payments for PUBG MOBILE in Egypt!

MaraviPost

DUBAI, United Arab Emirates, January 16, 2024 -/African Media Agency(AMA)/- TPAY MOBILE, META’s most reliable digital micropayments facilitator, today announces through its partnership with Tencent, the launch of Direct Carrier Billing for PUBG MOBILE in Egypt.

This launch provides gamers in Egypt to easily purchase PUBG MOBILE UC (unknown cash) through the official PUBG shop ‘Midasbuy’ and the UC they purchased is promptly added to their PUBG account.

Thanks to our partnership, TPAY also enabled DCB payment for other Tencent games in UAE, Oman & Qatar. The new games include Synced, Undawn, and Whiteout Survival, where gamers can also buy games’ items via Midasbuy like frost stars and RC without using a credit card by quickly adding the amount to their mobile bill or having it deducted from their credit balance.

Tencent first partnered with TPAY Turkey (Payguru) in May 2019 to avail in-game purchases for PUBG through DCB across all of Turkey’s 3 operators Later, bank transfers payment was added as another payment method in Turkey, covering 8 banks. Following this successful partnership, an expansion to offer DCB in MEA, via TPAY’s network connections took place covering PUBG Mobile and other new games. This partnership will cover expanding more launches across MEA via TPAY’s DCB & DWB network.

Today, MENA is one of the fastest growing regions in Gaming in the world, with over 377 million estimated gamers with a projection to reach $5 billion in 2025. This, coupled with the fact that people under the age of 25 make up close to half the population, has resulted in the gaming market seeing significant growth over the past years. Thus, this surge is attracting more international players, both publishers and development companies – into the region – creating an opportunity that we hope to capitalize on.

The META region represents a major untapped opportunity for gaming companies around the world. Together with TPAY’s simple but transformative technology and end-to-end solution, all game developers can connect to potential of millions of gamers and offer them the most secure, accessible, and seamless payment methods in the region.

Işık Uman, TPAY Group CEO, comments: “The Middle East gaming market is expected to grow at a CAGR of 11% from 2023 to 2028, yet companies outside of this region have underestimated its potential – until now. Expanding our partnership with one of the largest games publishers Tencent will allow the company to reach a much larger audience and further grow their business in this region. This partnership will further reinforce TPAY as being THE CONNECTOR, bringing the unconnected into the digital world.”

Distributed by African Media Agency (AMA) on behalf of Jupiter Commz

About TPAY MOBILE

TPAY serves as the connector, bringing the unconnected into the digital world. 

We aim to connect the entire Middle East, Turkey, and Africa, and make the digital world accessible to all by being the most reliable facilitator for digital micropayments in the region.  

Our offerings

  1. A full service, end-to-end solution connects digital service providers to potential of millions of users.
  2. Simple but transformative technology allows merchants and telecom operators to access and accept payments from consumers in more than 30 countries.
  3. Reliable facilitator eliminates the complexity by simplifying and handling the legal, financial including the cross-border settlements, and operational processes so our partners can focus on growing further in META with additional revenue channels.

The world’s tech brands: Google, Huawei, MBC, Tencent, Anghami, beIN, and others trust TPAY.

Learn more about TPAY: https://www.tpaymobile.com/

For media enquiries: safaa.elbanna@tpaymobile.com

The post TPAY to enable Mobile Payments for PUBG MOBILE in Egypt! appeared first on African Media Agency.

Source : African Media Agency (AMA)

Business, Malawi, Opinion

The crumbling of cotton industry: As Malawi struggles for forex

Maravi Post Reporter

By Twink Jones Gadama

Malawi, a landlocked country in southeastern Africa, has long relied on agriculture as a vital component of its economy.

Cotton production, in particular, has played a crucial role in contributing to the country’s foreign exchange earnings

However, recent years have witnessed a sharp decline in cotton production, primarily attributed to soaring prices of cotton seeds and fertilizers, as well as plummeting market prices.

This feature explores the consequences of the significant 80% decrease in cotton production. From the stories of struggling farmers to the potential impact on Malawi’s overall economy, this article delves into the challenges faced by the cotton industry and the implications for the country’s foreign exchange earnings.

Historical Importance of Cotton in Malawi

To understand the significance of the cotton crisis, it is essential to examine the historical context. Cotton has been cultivated in Malawi for decades, providing rural farmers with a reliable cash crop and a source of income to meet their everyday needs.

The sector also contributed to the country’s foreign exchange reserves, aiding various economic development projects. However, the recent decline in cotton production threatens to disrupt this much-needed revenue stream, posing serious challenges for the nation’s economy.

Impact of High Input Costs on Cotton Farmers

One of the primary factors influencing the decline of cotton production is the exorbitant prices of essential inputs, such as cotton seeds and fertilizers.

Smallholder farmers, who constitute a significant portion of the industry, find it increasingly difficult to afford these inputs. This section highlights the plight of individual farmers, exploring their struggles to bear the cost burden and the subsequent decisions to abandon cotton farming altogether.

Personal stories provide readers with a glimpse into the dire consequences faced by these farmers and their families.

Market Price Crisis: A Double Blow

In addition to the high costs of inputs, the cotton industry has been severely impacted by the downturn in market prices.

Domestic and international factors have led to a decrease in demand for cotton, pushing prices to alarming lows.

This section examines the reasons behind the declining market prices and highlights the challenges they pose for Malawian cotton farmers.

Experts’ opinions and market analyses shed light on how this price crisis affects the profitability and sustainability of cotton farming in the country.

The Ripple Effect on Malawi’s Economy

Beyond the individual struggles of cotton farmers, the decline in cotton production has broader implications for Malawi’s economy.

With reduced foreign exchange earnings, the country faces a potential imbalance in its import and export trade, impacting sectors beyond agriculture.

This section delves into the various repercussions of such an imbalance and analyzes the potential threat to the country’s economic growth and stability.

Addressing the Challenges: Government Initiatives and Prospects

Recognizing the severity of the situation, the Malawian government has initiated various programs and policy reforms aimed at reviving the cotton industry.

This section explores the government’s efforts and assesses their effectiveness in tackling the challenges faced by cotton farmers.

Additionally, the potential for diversification into alternative cash crops is examined as a means to mitigate the impact of declining cotton production.

Conclusion

The decline of cotton production in Malawi has emerged as a significant concern, not only for the struggling farmers but also for the overall economy of the country.

The challenges posed by soaring input costs and plummeting market prices have resulted in a devastating 80% decrease in cotton production.

As explored in this feature, the consequences extend beyond individual livelihoods to impact foreign exchange reserves and other sectors of the economy.

While government initiatives and diversification efforts hold promise, their efficacy must be evaluated to ascertain the industry’s path to recovery and safeguard Malawi’s foreign exchange earnings.

Business

Payday Loans and Your Credit Score: How Short-Term Borrowing Can Impact Your Financial Future

Maravi Post Reporter

When faced with financial emergencies, many individuals often turn to short-term borrowing options like payday loans. While these loans offer immediate financial relief, borrowers should be aware of the potential impact on their credit scores and long-term financial health.

What are Payday Loans?

Payday loans are small, short-term loans designed to cover unexpected expenses until the borrower’s next payday. They are typically easy to qualify for and deliver quick access to funds. However, they often have high fees and interest rates attached, which can make repayment complicated for borrowers.

Impact on Your Credit Score

Your credit score is a numerical value lenders use to evaluate your creditworthiness. It’s calculated based on your credit history, including the amount of debt you have, your payment history, and the length of your credit history. So, how do payday loans fit into this?

Firstly, applying for a payday loan can result in a hard inquiry on your credit report, which may temporarily lower your score. This impact is typically minor and temporary.

The real challenge comes in repaying the loan. Payday loans are usually due within two weeks to a month, often carrying high interest rates. If you fail to repay a loan on time or default on it, the lender may report this to the credit bureaus. This will have a significant negative effect on your credit score.

Long-term Financial Consequences

Failing to repay a payday loan can lead to serious long-term financial consequences. A poor credit score can make it challenging to secure loans, credit cards, or even rent an apartment in the future. It may also result in higher interest rates on any credit you do qualify for, making borrowing more expensive.

The high fees and interest associated with payday loans can also exacerbate financial difficulties. If a borrower cannot repay their loan on time, they might need to roll over the loan or borrow more money, resulting in a cycle of debt that can be challenging to break.

Conclusion

Payday loans can be a convenient and fast solution to financial emergencies. However, the potential impacts on your credit score and long-term financial health should be seriously considered. Before taking out a payday loan, explore other options such as personal loans, credit cards, or financial assistance programs. Improve your financial literacy to better understand how credit works and consider seeking advice from a professional if you are struggling with debt.

Understanding the implications and potential risks associated with payday loans empowers you to make informed decisions about your financial future. Remember, borrowing should be a carefully contemplated action, not a resort of desperation.

AMA, Business, Health

Amidst Ongoing Global Crises, Gates Foundation Announces Largest Annual Budget Ever: $8.6 Billion in 2024 to Save and Improve Lives

MaraviPost

Increased funding includes support for health innovations that could save millions more lives by 2030

DAVOS, Switzerland, January 15, 2024 -/African Media Agency (AMA)/- The Bill & Melinda Gates Foundation today announced its largest annual budget to date as it works toward the goal of a healthier, more prosperous world for all. With global health budgets in decline overall, a portion of the additional funding will go toward advancing global health innovations that will save and improve the lives of some of the world’s most vulnerable people, including newborn babies and pregnant mothers living in low-income communities.

The foundation’s $8.6 billion 2024 budget was formally approved by its board of trustees on January 13.

The budget, which represents an increase of 4% over last year and is a $2 billion increase over the 2021 budget, comes as global contributions to health in the lowest-income countries are stalling. While overall aid spending has leveled off, sub-Saharan African countries saw a nearly 8% decline in aid in 2022, even as they face growing needs and shrinking budgets due to debt and other financial pressures. The foundation has committed to increasing its annual spending to $9 billion by 2026.

“We can’t talk about the future of humanity without talking about the future of health,” said Bill Gates, co-chair of the Gates Foundation. “Every day, newborn babies and young children die simply because of where they were born. Mothers die giving birth, leaving families devastated. That keeps me up at night. It’s unacceptable, particularly because we have already developed many of the solutions that could save their lives. Building a stronger, more stable world starts with good health.”

Since its inception in 2000, the Gates Foundation has been focused on fighting the world’s greatest

inequities, creating programs that address issues such as gender equality, agricultural development, and public education. A major focus for the foundation has been on reducing inequities in health by funding the development of new tools and strategies to reduce the burden of infectious diseases and the leading causes of child mortality in low-income countries. Thanks to strong commitments, the world has made tremendous progress in cutting child deaths from more than 9.3 million a year in 2000 to 4.6 million a

year in 2022. Deaths from malaria and HIV were cut in half during the past two decades, and wild polio, which was paralyzing 350,000 children a year, has been reduced to only 12 cases in two countries.

“An investment in global health is an investment in our future. When the world puts money behind

proven solutions, it builds stronger, healthier, and more resilient communities for generations to come,” said Melinda French Gates, co-chair of the Gates Foundation. “With low-income countries facing a whole host of challenges, now is the right time to recommit to saving lives and improving livelihoods.”

Despite the phenomenal progress, millions of children in poor countries still die before their fifth

birthday of preventable or treatable diseases, and nearly 300,000 women die in childbirth while the tools exist to prevent their deaths. Ninety percent of the 340,000 women who die every year of cervical cancer live in low- and middle-income countries, even though there’s now a highly effective one-dose vaccine that can protect them against it.

At the foundation’s “The Future of Health” event at the World Economic Forum Annual Meeting, Bill Gates will showcase several health innovations that the foundation has funded and its partners have

been developing that could save the lives of women and children. His talk will also address the role that

artificial intelligence (AI) and other technologies can play in transforming health and improving lives for people living in low-income countries. Gates will call on global leaders, philanthropists, CEOs, and others to help rebuild global trust and solidarity by joining together to save the most vulnerable people. The foundation predicts that if innovations currently in the R&D pipeline are properly funded, they could

help cut maternal deaths by 40% in the lowest-income countries by the end of the decade, and further drive down preventable child deaths.

To emphasize that many solutions are simple, portable, and already close at hand, Gates and other foundation leaders will carry backpacks in Davos emblazoned with “The Future of Health” and filled with examples of products that could save millions of lives. They include:

  • A package of tools that can save 65,000 women by 2030 from dying of postpartum hemorrhage (PPH). PPH is the biggest cause of maternal death worldwide. The package includes a simple and inexpensive drape to better measure blood loss. When paired with interventions in a trial, these tools decreased cases of severe bleeding by 60%.
  • A one-dose HPV vaccine that helps protect against one of the most common cancers among women worldwide. Millions of girls in low- and middle-income countries haven’t received HPV vaccines, while most girls in high-income countries have. As much as 90% of cervical cancer deaths are in these countries. With a one-dose HPV vaccine, the barriers to vaccination are much lower, and efficacy remains high and lasting. Modeling estimates that more than 110 million cases of cervical cancer can be averted as the one-dose regimen is rolled out, in part through Gavi.
  • An AI-enabled ultrasound that uses AI algorithms to identify obstetric risk in pregnancy. This tool can save 390,000 infant lives by 2030 by helping health workers identify high-risk pregnancies in low-resource settings.
  • Vaccine microneedle array patches that can deliver vaccines through the skin without traditional needles, a complex cold chain, or a highly trained health worker to administer them. Early trials show these patches deliver the measles-rubella vaccine as safely and effectively as syringes and produce a similar immune response. This can help protect the hardest-to-reach children.
  • A stack of test strips that reduce production and shipping costs compared to existing cassette tests. These diagnostic test strips can be made in the billions and shipped inexpensively, allowing for faster response in the event of an outbreak. They can also increase the number of tests available for diagnosing malaria, of which two-thirds of cases go undiagnosed.
  • Multiple micronutrient supplements that restore a pregnant woman’s nutrient stores that she transfers to her baby. Studies show the supplements resulted in a reduced risk of low birth weight (12%) and a reduced risk of preterm birth (8%), and even better results among anemic and underweight women. These supplements, which are available now, could prevent 425,000 stillbirths.

“The Gates Foundation measures impact in terms of lives saved and opportunities provided to the poorest,” said Gates Foundation CEO Mark Suzman. “This new high-water mark for our budget will further our mission to help create a world where everyone has the opportunity to live a healthy,

productive life.”

The incremental resources for 2024, both financial and human capital, seek to accelerate efforts for

greatest impact across the foundation’s diverse priorities, ranging from polio eradication to scaling child azithromycin delivery in the world’s highest mortality settings to improving digital courseware in

postsecondary education to accelerating the world’s TB drug portfolio.

Learn more about our work to advance global health innovations at https://www.gatesfoundation.org/ideas/science-innovation-technology

Distributed by African Media Agency (AMA) on behalf of The Bill & Melinda Gates Foundation.

About the Bill & Melinda Gates Foundation

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Business

Luanar students hail NBM Plc for renovating Basketball Court

Maravi Post Reporter

LILONGWE-(MaraviPost)-Lilongwe University of Agriculture and Natural Resources (Luanar) students have hailed National Bank of Malawi (NBM) plc for renovating a Basketball Court at the Bunda Campus saying it will motivate a lot of students to take up the sport.

Director of Students Affairs at Luanar, Ronnie Mvula spoke when NBM plc officials toured the facility to appreciate progress on the renovations of the Basketball court.

“The refurbished facility will encourage more students to join the sport and also ensure Luanar has a strong basketball team. Last year we had Tessam games in Lilongwe but we could not host any games here including basketball, because our facilities were not good. So, the coming in of National Bank to renovate the Basketball Court is timely and welcome,” said Mvula.

“The renovation is in phases, the first one is about the court, then they will include the floodlights so games can be played even at night, but also they will provide stands for both sides of the court,” added Mvula.

Students’ representative, Wesham Mwala Moyo said the coming in of the new court has excited the students especially basketball players.

“You can be great players but not having the right facilities can affect the outcome of how you play during game time,” said Mwala Moyo.

During the Mo626 College Basketball tournament launch in September last year, NBM committed to refurbishing Luanar and University of Malawi (Unima) basketball courts as a way of leaving a lasting legacy in the sports infrastructure development.  

The Bank’s Accounts Relationship Manager Monica Zinyemba said the basketball court was in a sorry state prompting the Bank to intervene.

Zinyemba expressed satisfaction with the progress of the works taking place at the facility. 

“We thought it was safe for the students to be playing on a very modern court. It is supposed to be completed by January 25, and handovers will be done immediately after that so that students can start using it once they open the new semester,” said Zinyemba.

Mo626 College Basketball Ambassador Hayze Engola spiced up the inspection tour by interacting and giving out NBM-branded items to the players.

NBM is expected to pump MK40 million into the Luanar basketball court renovation project.