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.

Reckless Malawi Kwacha’s devaluation effect: Airtel voice, data bundles up

LILONGWE-(MaraviPost)-Airtel Malawi Plc, a leading provider of mobile telecommunications services in Malawi, wishes to inform its customers of a major restructuring of its Chezani Voice and Data bundle portfolios to simplify the portfolios for our customers and also change in prices effective from December 5, 2023.

This follows President Lazarus Chakwera’s Tonse government’s 44% Malawi Kwacha devaluation effected early last month which has pushed prices for goods and services up.

In a press statement issued on December 1, 2023, Airtel says, “The prices have on average been revised upwards by 15% and 20% for voice and data bundles respectively. The prices for some bundles have been reduced while others remain unchanged.

“The change is just a partial cost recovery and has been necessitated by the country’s recent developments in macro-economic factors which include cumulative loss of value of the Kwacha by 64% since June 2023 and subsequent increase in electricity tariffs by 18% in September 2023 and the increase in diesel price by 42.4%,” reads part of the statement.

Airtel’s statement adds, “These costs form a major part of our operational costs daily and have since significantly increased the cost of doing business for Airtel Malawi plc. At this level of cost escalation, it is unsustainable to continue at the current price levels.

“Airtel must continue to be sustainable so that it can further invest in the network and ensure better service delivery to its customers. All these changes have been approved by MACRA”.

Malawi court favors Multichoice in DSTv tariff adjustment

MACRA gets injunction against new DStv tariffs

BLANTYRE-(MaraviPost)-The Malawi Communications Regulatory Authority (MACRA) has lost a case against Multichoice Malawi in the implementation of price adjustment and the management of DStv Services subscription fees.

This was a judicial review case in which MultiChoice Malawi wanted the court to interpret the law on whether or not MultiChoice Africa Holdings should be seeking approval from Macra before adjusting DStv tariffs.

The move followed Macra’s decision to stop MultiChoice Africa Holdings (MAH) from adjusting tariffs without its approval. 

But High Court Judge, William Yakuwawa Msiska on Friday, December 1, 2023 ruled that MACRA was not supposed to regulate DStv rates as they are not set by MultiChoice Malawi.

This means that the company can now implement earlier DStv tariffs.

Multichoice Malawi (MCM) is a content broadcasting service provider with a content licence renewed on 24th July 2020 for a period of 7 years to provide Subscriber Management Services (SMS).

Under the SMS licence, DSTV offers five bouquets/packages from high to low end: (premium; compact plus; compact; family; and access)

The Licence, together with the Communications Act, sets the terms and conditions to be implemented by all service providers including MCM.

Previous years up to June 2022, MCM has been submitting to the Authority all its tariff requests to seek approval.

On 3rd June 2022 – Multichoice Malawi (MCM) submits a tariff request to MACRA for DStv and GOtv services.

On 21st June 2022 – MCM makes a public announcement to adjust tariffs effective 1st August 2022 before the MACRA Board convenes for an approval of the same

On 24th June 2022 – MACRA Technical Committee met to consider tariff requests, however, MCM’s request was not deliberated due to the public announcement on the price adjustment made on 21st June 2022.

On 28th June 2022 – MACRA notified MCM of a preliminary finding of breach of section 74(1) of the Communications Act and Clause 11.2 of MCM’s SMS licence for implementing DStv tariff adjustment without prior approval from MACRA.

On or around 12th July 2022 – MCM applied to the High Court for permission to commence judicial review proceedings, challenging MACRA’s preliminary finding that MCM had breached the Communications Act and its licence and further challenging MACRA’s decision to invite MCM to a disciplinary hearing. MCM also applied for an injunction against the hearing.

On 13th July 2022 – MACRA suspended MCM’s disciplinary hearing pending the decision of the High Court on MCM’s application to commence judicial review proceedings.

On 25th July 2022 – the High Court refused to permit MCM to commence judicial review proceedings against MACRA because the application was premature. MCM should have first attended the disciplinary hearing before approaching the High Court. The application for injunction was also dismissed.

On 1st August 2022 – MCM proceeded to implement the tariff adjustments without approval from MACRA Board.

On 28th November 2022 – MCM was heard before the Legal and Administration Committee (LAC) of the Board of MACRA, which recommended to the Board to find MCM in of breach of the Communications Act and the licence for implementing tariff changes without prior approval.

On 22nd December 2022 – MACRA Board upheld the recommendation by the Legal and Administration Committee and made a final finding of breach. The Board imposed the following sanctions:

a. that MCM should pay K10 million fine;

b. cease and desist from implementing the revised and unapproved tariff structure; and

c. refund the customers the difference between the unapproved tariffs and the approved tariffs.

On 13th January 2023 – MCM was granted leave to commence judicial review proceedings against MACRA and obtained an injunction restraining MACRA from implementing the decision in 10 above, to find MCM in breach and from implementing the consequential sanctions imposed on MCM.

On 17th January 2023 – MACRA DG meets with MCM General Manager at BICC in Lilongwe to map a way forward.

From 23rd to 27th January 2023 – MACRA and MCM engaged at technical level at Nkopola Lodge in Mangochi for an amicable settlement of the court case. But negotiations failed due to the insistence of MCM that DStv tariffs should not be subject to prior approval by MACRA.

On 14th June 2023 – MACRA Board met with MCM/Multichoice Africa Holdings (MAH) led by their Group CEO in Salima to discuss on possible settlement out of court of the matter.

On 11th July 2023 – MACRA Board approved the recommendations from the Salima meeting to allow MCM to ‘notify’ the tariffs to the Authority but with MACRA reserving the right to intervene whenever it deemed the proposed tariff implementation unfair or unjust. MACRA wrote MCM of the proposal. MCM has not responded.

On 17th July 2023 – MCM notified MACRA of the proposed tariff increase for DSTV services effective 1st August 2023.

On 28th July 2023 – MACRA obtained an injunction from High Court restraining MCM from implementing second DSTV tariffs without prior approval from MACRA.

On 31 July 2023 – MCM obtained a temporary relief/order to stay implementing the injunction that MACRA obtained. The temporary stay was granted to allow MCA to rectify its system, which was already set to bill using the new tariffs. The order was for four days until 3rd August 2023.

On 1st August 2023 – MCM proceeded to implement the second tariff adjustment without approval from MACRA Board.

On 4th August 2023 – MCM applied to the High Court ex parte (without giving notice of the application to MACRA) for directions on how it should conduct itself and to avoid being in contempt of court in view of the fact that Multichoice Africa Holdings Ltd (MAH) had stated it could not reverse the DSTV tariff adjustment for Malawi. The High Court directed that the application be heard inter parte (both parties to be present at the hearing) on 7th August 2023. Consequently, the court extended the stay order to 7th August 2023, the date of the inter parte hearing.

On 8th August 2023 – the High Court A hearing of both parties on the injunction was held and the High Court upheld the injunction obtained by MACRA and vacated the stay order obtained by MCM.

On 8th August 2023 – MCM announced the withdrawal of DStv services in Malawi.

On 25th August 2023 – Full trial of the case.

Editors notes: Additional information sourced from The Atlas Malawi

Gates Foundation Announces Partnership with United Arab Emirates to Accelerate Action on Climate and Strengthen Food Systems Through Investment in Agricultural Innovation 

Foundation calls for donors to support global agriculture research network CGIAR’s 2025-2027 investment need to reach 500 million farmers by 2030 and reduce emissions from the sector by 1 gigaton per year

DUBAI, UAE, December 1, 2023 -/African Media Agency (AMA)/- The Bill & Melinda Gates Foundation today joined the United Arab Emirates (UAE) to accelerate the development of innovations that will help smallholder farmers in sub-Saharan Africa and South Asia build resilience and adapt to climate change. Together, they made new commitments totalling US $200 million in response to immediate and long-term threats to food security and nutrition caused by climate change.

The announcement was delivered at the World Climate Action Summit by foundation Co-Chair Bill Gates, who was joined by H.E. Mariam bint Mohammed Saeed Hareb Almheiri, minister of climate change and environment of the UAE. Gates also called on global leaders to elevate agriculture as a focus of global climate finance initiatives and support the global agriculture research network, CGIAR.

Sub-Saharan Africa, where more than 60% of the population depends on agriculture for food and income, accounts for only 4% of global greenhouse gas emissions. In recent years, a surge of extreme climate events, such as devastating droughts in East Africa and catastrophic flooding in West Africa, has contributed to reduced economic growth and increased income inequality with wealthy countries—primarily by eroding crop and livestock production. While numerous innovations exist to help smallholder farmers in the region, less than 2% of global climate finance is devoted to meeting their needs.  

“We need to make big bets on innovation to ensure smallholder farmers across sub-Saharan Africa and South Asia have the tools they need to adapt their practices, feed their people, and build resilience in the face of climate change,” said Gates. “The needs of farmers are an integral part of the global climate agenda.”  

CGIAR, the world’s largest publicly funded agriculture research network, plays a critical role in supporting resilient, sustainable food production in a climate-stressed world. Earlier this week, it launched a three-year investment case to secure US $4 billion by 2027, helping CGIAR to reach 500 million farmers by 2030 with climate adaptation innovations, and to reduce emissions from the agriculture sector by 1 gigaton per year—the equivalent of eliminating emissions from more than 200 million cars.  

“We are ready to quickly scale up proven innovations that already are helping farmers in vulnerable regions like Africa and South Asia adapt to more challenging climate conditions,” said Professor Lindiwe Majele Sibanda, chair, CGIAR System Board. “That includes increasing access to improved varieties of naturally stress tolerant crops like cassava and millets, employing new tools and strategies farmers are using to support healthy ecosystems by reviving degraded lands, and providing long-range climate forecasts that help farmers anticipate and navigate weather extremes and shifting rainfall patterns.”

The foundation’s US $100 million investment announced today, which matches the UAE’s commitment of US $100 million, will support organizations, like the CGIAR, that are on the forefront of developing agricultural innovations. Additional foundation funding will support the work of AIM4Scale, a new climate adaptation initiative to be launched by the UAE. The foundation will also join partner countries, philanthropies, and financial institutions to help accelerate access to high-impact agricultural innovations for small-scale farmers in sub-Saharan Africa and South Asia by reducing policy and funding-related barriers.

CGIAR a “best buy” in adaptation

For over 50 years, CGIAR’s work has helped save millions of lives and trillions of dollars globally. Its focus on smallholder farmers has delivered humanitarian benefits that rival the lifesaving power of vaccines. It consistently delivers high-impact innovations at a very low cost, with every dollar invested in its work returning US $10 in benefits for local farming communities. 

With the foundation’s commitment announced today, it has exceeded its current pledge to CGIAR of US $315 million and joins a growing global movement for action on climate adaptation. This includes new funding from donor countries to CGIAR totaling over US $800 million for the 2023-2024 funding cycle. 

The foundation’s support for agriculture adaptation at COP28 builds on previous commitments dating back to 2017 to help smallholder farmers cope with climate change. To learn more about the foundation’s work to create a pipeline of climate-smart agricultural solutions, new applications of digital technologies, low-emission approaches to small-scale livestock farming, and innovations that address the neglected needs of women farmers, please visit: https://www.gatesfoundation.org/ideas/climate-adaptation

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

About the Bill & Melinda Gates Foundation

Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to ensure that all people—especially those with the fewest resources—have access to the opportunities they need to succeed in school and life. Based in Seattle, Washington, the foundation is led by CEO Mark Suzman, under the direction of Co-chairs Bill Gates and Melinda French Gates and the board of trustees.

The post Gates Foundation Announces Partnership with United Arab Emirates to Accelerate Action on Climate and Strengthen Food Systems Through Investment in Agricultural Innovation  appeared first on African Media Agency.

Source : African Media Agency (AMA)

MTN and Yango Forge Transformative Partnership to Empower Partner Drivers in Côte d’Ivoire 

Yango partner drivers to benefit from unlimited data packages

ABIDJAN, Côte d’Ivoire, 1 December 2023 -/African Media Agency(AMA)/-  Yango has joined forces with MTN to improve the working conditions of its partner drivers. The international ride-hailing company has teamed up with MTN, a leading telecommunications company, to offer drivers free data packages for the Yango Pro app.

This collaboration represents a monumental stride in the shared vision of both organizations to innovate and elevate service offerings; underscoring MTN’s belief of offering a modern connected world, as well as Yango’s unwavering commitment to enhance the well-being of its partner drivers. 

This partnership is designed to offer a simple, fast and convenient experience for drivers and will cover Abidjan starting 25 October. The package will enable drivers to save at least FCFA 5,000 per month on internet, SMS and voice services. In addition, Yango’s partner drivers registered in a fleet will be able to benefit from reduced call charges to talk to each other.

Côte d’Ivoire is the first country chosen by the company to launch this project with MTN.

  • MTN is extending unrestricted data usage to Yango drivers, delivering always-on connectivity.
  • Packages accessible through fleet partners, liberating drivers from any usage restrictions.
  • Significantly discounted rates for internet, SMS, and calls, translating to monthly savings of at least 10K CFA
  • Fleet companies also benefit from discounted communication with their Yango drivers 

Honore KOUAME, GM MTN Business said “We are happy to partner with Yango and we look forward to providing their partner drivers base access to MTN products and services in Ivory coast. We believe that these partnerships will help us achieve our broader strategy of delivering better services for all our customer’s needs. We seek to extend our offering to more customers by leveraging Yango’s network and platform.” He added “,With this new partnership, Yango and MTN will offer and allow us to address the needs of these old and new customers. This decision is based on Yango’s credibility and excellent performance over the years and is consistent with MTN’s mission.”  

Kadotien Soro, Country Manager of Yango Cote DÍvoire said: “We are excited about this collaboration with MTN, one of the leading telecommunications companies in Region. We have big ambitions and we are committed to helping our partners’ drivers to amplify their businesses and increase earnings, and providing quality service to all our customers at an affordable price’’. He added “through this partnership, we are pleased to offer the best of Services and offer free telephone packages to our Partners Drivers across Ivory coast. This is part of our continued commitment to conveniently offer Drivers the largest range of quality services at the best prices.” 

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

About MTN

MTN is Africa’s largest mobile network operator, sharing the benefits of a modern connected life with 272m customers in 19 markets across Africa and Middle East.

About Yango:

Yango is an international tech company that transforms global sourced technologies into everyday services for local enrichment. With an unwavering commitment to innovation, we reshape and enhance leading cutting-edge technologies from around the world into seamlessly integrated daily services for diverse regions. Our mission is to bridge the gap between leading world innovations and local communities, fostering connections and enhancing everyday living experiences.

Yango provides its digital services, including ride-hailing, across 20+ countries in Africa, Latin America, Europe, and the Middle East through its super app. The multilingual app is available for free on Android and iOS. 

Media Contact:

pr@y

The post MTN and Yango Forge Transformative Partnership to Empower Partner Drivers in Côte d’Ivoire  appeared first on African Media Agency.

Source : African Media Agency (AMA)

Nico supports Misa Malawi fundraising dinner with MK2.5 million

BLANTYRE-(MaraviPost)-Nico Holdings Plc has supported the Media Institute of Southern Africa (Misa) Malawi 2023 fundraising dinner with an MK2.5 million donation.

Speaking in Blantyre during a cheque presentation event, Nico Holdings plc Corporate Affairs Manager Mbumba Mlia-Ndasauka said the donation is evidence of their commitment towards initiatives that involve the media industry.

“The donation we are making today is a small part of this commitment and we truly value the relationship our media practitioners have always had. At NICO, we believe that the media plays a very important role in disseminating information to the masses and we are proud to be among the corporates that can support this sector,” she said.

Mlia-Ndasauka also said NICO has been able to send over 10 journalists to South Africa for training with the Sanlam Summer School for Financial Journalists and fully supports Misa-Malawi fundraising for the construction of a training center at its Mtolankhani House in Lilongwe.

“Let me encourage our media practitioners to remain professional in their reporting of matters, especially business and financial space and to make good use of the facility that will be put up for them,” she said.

Receiving the donation, Mc Donald Chapalapata a member of the Miss-Malawi Fundraising Committee, who was accompanied by Misa-Malawi Board Member Nathan Majawa, hailed NICO Holdings plc for the support.

“We thank NICO for this support, it will go a long way towards making our project of constructing a training centre which is pegged at K50 million a success. We value the relationship we have with NICO as they also support journalists with various training sessions in South Africa,” he said.

He said the fundraising dinner is scheduled for Saturday, December 2, 2023, at Capital Hotel in Lilongwe under the theme ‘Media as a strategic partner for private sector growth and viability’.

TNM donates MK2.5m to Southern Region Press Club

BLANTYRE-(MaraviPost)-Malawi’s pioneer mobile network and ICT services provider, TNM Plc, has donated MK2.5 million to Southern Region Press Club to help in the preparation of the annual general meeting slated for December 1 to December 2 at Malawi Sun Hotel.

The AGM will be held under the theme “Economic Empowerment, Key to Journalistic Independence” will see the ushering of office bearers that will steer the operations of the club.

Speaking during the cheque handover in Blantyre, Limbani Nsapato, Corporate Affairs Manager said that the club presents the growth of the media industry in the region.

“As a corporate institution, we are motivated by the beliefs and pillars of this club which seeks to boost works of southern region media. The dawn of the organization signifies the growth of media in the country which is key to development,” said Nsapato.

He said that through the donation, TNM is optimistic of a vibrant media in the southern region and it will propel professionalism.

“Our support today aims at ensuring that the Southern Region Press Club continues to be a vibrant organization that fosters progress and media excellence. We believe in corporate governance which we believe through the AGM, the organization is going to achieve that,” he said.

TNM believes that the sponsorship will help the club to hold a very successful AGM.

“TNM has been in the country spearheading telecommunications and media activities. We believe that the sponsorship will go a long way to ensure the smooth running of activities of the AGM and advance objectives of the institution,” added Nsapato.

Receiving the donation, interim general secretary general of Southern Region Press Club, George Mhango expressed satisfaction with the growth of the club.

“The organization is covering all the journalists in the southern region and the member base is growing significantly. We are exiting to champion the issues of economic development and empowerment for journalists in the region,” said Mhango.

He thanked TNM for the timely donation which presents trust in the partnership between the two entities.

“I would like to thank TNM for the donation that will help our gathering to be successful. This means that we have trust from the corporate world which is key for our operations,” he said.

The general secretary said that the club intends to enable financial and economic independence for journalists in the southern region as a way of transforming the perception of the scribes.

Outlining the vision of the organization, Mhango added that the club has lined up a number of projects such as the formation of cooperatives suitable to transform the lives of journalists.

The project of the International Vodun Museum by Koffi & Diabaté Architectes wins the WAFX Prize at the World Architecture Festival 2023

ABIDJAN, Côte d’Ivoire, 28 November 2023 -/African Media Agency(AMA)/- Selected from over a hundred projects, the “International Vodun Museum” designed by the Koffi & Diabaté Architectes is the winner of the “WAFX” award at the World Architecture Festival 2023, in culture category. The WAFX Awards are given to unrealized projects that address major challenges in architecture, society, and the planet. Additionally, the International Vodun Museum is also finalist in the “Future Project – Culture” category. Partners Guillaume Koffi and Issa Diabaté will present the project to a professional jury in Singapore on November 30th, 2023.

This flagship project of the Benin Government Action Program aims to reveal and valorize the rich cultural heritage of Benin, with a particular emphasis on the Vodun culture, which originated in the 17th century in the former Kingdom of Dahomey which originated in the 17th century in the former Kingdom of Dahomey and spread to West Africa (Benin, Togo, Nigeria, and Ghana) and subsequently to South America and the Caribbean.

The International Vodun Museum embodies the Benin government’s commitment to rehabilitate and showcase to the world the richness of arts and cultures associated with Vodun. Major projects revolve around the valorization of this intangible heritage, including the Vodun Days, an annual celebration that takes place every January 10th in the historic city of Ouidah. 

The International Vodun Museum will offer a unique museum experience in West Africa. Tourists from Nigeria and Ghana will have the opportunity to explore and appreciate the richness of Vodun culture and its profound impact on history and society. It serves as a living testament to the wealth and influence of this fascinating and often overlooked culture, deserving accurate celebration. 

Located in Porto-Novo, the capital of Benin, the future International Vodun Museum will occupy a site of approximately 16,000 m². Its circular and organic architecture is rooted in local ancestral traditions, drawing inspiration from the Tata Somba, typical earth fortresses of the Somba people, in north Bénin. The museum will include five major spaces, featuring a reception building with an auditorium for 150 people, a temporary exhibition hall with independent access, and four permanent exhibition halls.

In legitimizing a spiritual practice that has long been demonized but never extinguished, the International Museum of Vodun stands as a guiding force, preserving and promoting Benin’s rich heritage. It serves as a vital link between the past, present, and future.

About Koffi & Diabaté Architectes 

Founded in 2001, Koffi & Diabaté Architectes is built around its two partners and a team of more than 75 people who all strongly believe that sharing and exchanging are the ultimate guarantee of a necessary open-mindedness. The office works on a wide range of projects, from housing to business offices, housing estates and real estate operations, in Côte d’Ivoire and in the sub-region. Our mission: to build modern, quality buildings, while taking into account the lifestyle and cultural identity of our clients, always taking into account the project’s urban integration.

Press Conatct

Marilyne SINAMA

Head of Marketing & Communication

Koffi & Diabaté Architectes

msi@koffi-diabate.com

+ 225 27 22 48 33 33

Cocody Danga Nord

Boulevard Latrille

Abidjan, Côte d’Ivoire

17 BP 59 Abidjan 17

www.koffi-diabate.com

The post The project of the International Vodun Museum by Koffi & Diabaté Architectes wins the WAFX Prize at the World Architecture Festival 2023 appeared first on African Media Agency.

Source : African Media Agency (AMA)

NBM awards winners in ICT Innovation Jam

BLANTYRE-(MaraviPost)-National Bank of Malawi (NBM) Plc at the weekend awarded eight youthful ICT innovators in the ICT Association of Malawi (ICTAM) Innovation Jam competition in Mangochi.

The awards which were presented during the ICTAM annual lake conference, saw Richard Mtukula of Angle Dimensions winning in the Fintech and Digital Economy category with his Smart Identity software which allows customers to update their ‘Know Your Customer (KYC) details in the comfort of their home using a phone or computer device.

Mtukula got K1.5 million for the feat.

Innovators were competing in eight categories namely Agri-tech, e-Health, Fintech and Digital Economy, Emerging Technologies, Open Source, She Codes Spotlight, and Overall Open category.

Patrick Hambeyani and Christina Mapwele won the Agri-tech category with their Secure IOT Chicken Monitoring System, while e-health went to Matthews Jere and Tadala Mabulo of Khungu Langa Innovation on top of an overall open category award which saw them got an extra K500,000 from the K1 million prize.

Ronald Chikusa won the Emerging Technologies award with his Dwell Malawi innovation, while in the Open-Source category, Eliot Kalenga emerged winner for his Fees Collection Management System (FECOMAS).

Sarah Makina’s Drip monitor innovation won the She Codes Spotlight category. All the winners got a K1 million prize and will get incubation support from NBM and ICTAM.

Mtukula was elated with the award and said; “There is a need for innovators and ICT personnel to look outside the country where they can be able to showcase what they have developed because the young people in this nation are capable of exporting quality software just like the one that we have the ‘Smart Identity’. We believe that if we can export these skill sets and software products, they will be able to contribute towards the development of the country by bringing in forex.”

NBM plc Head of Information and Technology Operations Management (ITOM), John Mitchell said there is evidence that the world is now revolving around technology innovations hence the support from the Bank.

“Whatever is exciting people in the world is coming from the technology sector, Malawi can’t be any different so we have to drive this sector if we are to compete on the world stage. National Bank believes that the youth and technology best drive the future of Malawi. A sector that doesn’t invest in ICT technologies cannot compete on the world stage.”

“National Bank is interested in the goodwill of the Malawi nation and thinks that it can play its role by supporting ICTAM which is trying to assist the youth in the ICT sector to develop their products to a level which they can compete on the international stage,” said Mitchell.

Last week, the Bank announced a new partnership with ICTAM until 2026 where among other things, is injecting K75 million annually for the innovation incubation support, apart from the K40 million for the Innovation Jam awards.

ICTAM President Clarence Gama said he was excited that the 2023 innovation awards have revealed some of the top-notch technology that will transform the nation.

“We have received three times as much in terms of the innovation that we have been receiving in the past, this just tells you there are a lot of young people that are thinking how best they can transform this nation using technology,” said Gama.

NBM started sponsoring the Innovations Jams in 2019.

NBM Plc reaches out to students on savings

LILONGWE-(MaraviPost)-National Bank of Malawi (NBM) Plc recently reached out to about 10 Secondary Schools across the country where it engaged students on the benefits of savings and financial literacy.

NBM plc reached out to 10 secondary schools namely Bwaila, Dowa, HHI, Chiradzulu, Mangochi, Liwonde, Kaseye Girls, Mnjiri, Ngabu, and Mwanza during a savings awareness week which was held from 6-10 November 2023 organized by the Reserve Bank of Malawi (RBM) in partnership with the German Savings Bank Foundation (DSIK).

During the campaign, RBM tasked Banks to reach out to people especially students with financial literacy and savings messages.

NBM’s Lilongwe Service Centre Manager, Maureen Gwembere said the Bank managed to fulfil the task which also provided a chance for them to grow their brand and also opened accounts for some students.

“We used different methods to disseminate the message to the youths and students. We interacted not only with the students, but also teachers and other staff members in the schools, where we made presentations on Personal Finance Management, Savings for a better tomorrow, and how to manage one’s finances.”

“Apart from the presentations, we used different approaches including a knowledge quiz based on the presentations, dance competitions, and prize presentations. The dance competitions were designed to leave a lasting impression on the students that saving and partnering with financial institutions on this journey is not always formal and boring but can be mixed with fun and showcasing of one’s social talents as part of young people’s lifestyle,” said Gwembere.

On his part, Mwanza Secondary School headteacher, Henry Saka commended NBM plc for the visit saying most students were not aware that they could own accounts and save money.

“The impact of the visit was positive because most of the students were not aware of the significance of saving money. Even teachers benefited from the visit as, apart from having accounts with various banks, they didn’t understand the importance of saving money for the future. We are growing and definitely one day we will not be as active as we are, therefore the money we save now will save us during those times,” said Saka.

Saka further commended NBM plc for the approaches taken to spread the message to the students, saying even the gifts they won during the competitions and quizzes will always remind them of the message about financial savings.

PIL donates textbooks to Mchinji school

BLANTYRE-(MaraviPost)-Petroleum Importers Limited, a consortium of four oil marketing companies in Malawi, has donated 405 textbooks worth MK4.5 million to Takondwa Community Day Secondary School in Mchinji.

Speaking after presenting the books, PIL General Manager Martin Msimuko said the company which comprises Puma, Total Energies, Vivo Energy, and Petroda, felt the need to help the school as part of its corporate social responsibility.

“As a company, we commit to supporting the health sector, education, and safety. We all know that education requires collaborative effort because the Government alone cannot manage to supply all the needs. We believe that our contribution to the development of education will go a long way in motivating these students to work hard and pass with flying colours because we have brought textbooks for different subject codes and all classes.”

“Our hope is that the students and teachers will take care of the books so that they also benefit the other crop of students coming behind them,” said Msimuko.

Takondwa Community Day School deputy headteacher Samson Fredrick Katchere commended PIL for the donation saying books were part of the numerous problems the school is facing.

“We teachers are curriculum implementers, but it becomes a problem when you do not have proper and enough materials to achieve that. This support will enhance learning and teaching at our school,” he said.

The school’s head girl, Verina Henry, also thanked PIL for the donation saying it will help girls to work hard in class.

“We face a lot of challenges as girls, and to have proper books for our studies means we will be able to study after classes. We commend PIL for choosing to help our school,” said Henry.

According to the deputy headteacher, Takondwa CDSS has 280 students with 16 teachers. Only four of the teachers are housed at the school, while the rest stay at Kalulu Trading Centre, a distance of about eight kilometres.