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.

Zim Govt ‘to acquire 15 planes from Malaysia to resuscitate ailing Air Zimbabwe’

HARARE – The Zimbabwe government is reportedly set to acquire at least 15 planes as part of efforts to resuscitate the country’s struggling national airline, Air Zimbabwe.

According to state owned Herald newspaper, the planes were set to be purchased from Malaysia.

The report quoted Transport and Infrastructure Minister Joram Gumbo as saying that the new planes were going to be bought through a public-private partnership.

Said Gumbo: “The Civil Aviation Authority is on the verge of acquiring 15 new air planes from Malaysia under a lease agreement. The deal was penned between government and a private company DIDG, a consortium of business partners from the diaspora.”

Gumbo said that the agreement would be renewed every five years.
Air Zimbabwe was reeling under a $330m debt and its balance sheet was in a bad state, the report said.
Gumbo admitted last month that the national airline was running “noisy aircraft’ and that it was “ailing”.

The minister said at the time that Air Zimbabwe was “not doing very well”.

In May reports said that the airline and several other airlines were barred from flying to Europe over safety concerns.

Africa richest man Dangote interested to invest fertiliser plant in Malawi, says new Nigeria envoy

Africa’s richest man, Aliko Dangote is interested in investing in the agricultural sector by establishing a fertilizer manufacturing company in Malawi, Nigerian High Commissioner Designate, retired Brigadier General Stanley Diriyai, has revealed.

Diriyai disclosed Dangote’s interest on Tuesday after presenting his letters of credence to Malawi’s president Professor Peter Mutharika at the New State House in Lilongwe.

Diriyai told the media after meeting president Mutharika that they discussed a number of bilateral relations including trade aimed at enhancing the bilateral relationship between the two countries for the benefit of the citizenry in both countries.

“We have talked about a number of bilateral issues. As you know our High Commission in Malawi is new. A lot of agreements are being entered into including in the agricultural sector.

“We also talked about migration between the two countries. A lot of Nigerians are interested in coming to Malawi, but Visa processing procedures somehow affect that. In Nigeria now Visas can be processed on arrival, we hope Malawi will also look into that,” explained Diriyai.

Dangote has business interests in oil, sugar and cement manufacturing in a number of countries in Africa among others.

Establishing a fertilizer manufacturing company in Malawi would be a huge boost to the agricultural sector in the country where farm inputs are beyond the reach of many Malawians.

Nigeria and Malawi have had diplomatic relations since 1964, but only opened a High Commissioner’s office in the country Malawi in September, 2012.

58 arrested in FISP scam

Minister of Agriculture, Irrigation and Water Development Joseph Mwanamvekha said 58 people have been arrested on allegations of fraud in 2017/18 Farm Input Subsidy Programme (FISP).

Mwanamveka disclosed this in Parliament on Tuesday Member of Parliament (MP) for Machinga East, Esther Jolobala asked government why there are more FISP coupons than allocated tonnage of inputs in most districts.

Jolobala also asked Minister of Agriculture to explain why suppliers are buying the coupons from farmers

In his response, Mwanamvekha said law enforcers have moved in to arrest about 58 people who were either using fake or recycled coupons.

“We have security personnel in all our selling points,” he said, warning anyone that will be bringing fake and recycled coupons that they will be “caught and dealt with.”
Mwanamvekha said the arrested people will face over 20 charges.

Mwanamveka then warned the suppliers against buying coupons from the farmers, saying companies involved in the malpractice will be banned from supplying inputs for the programme

However, he said the program has been a success and that all beneficiaries would access the inputs by December 15, which is the last selling date.

In the 2017/18 Fisp program, government is subsidizing NPK and Urea fertilisers per 50 kilogramme (kg) bag for K15 000 and 5kg maize seed for K6000, 2kg sorghum for K6 000 and 2 kg legume seed for K2 050.

The program has been marred by some unscrupulous traders selling substandard inputs to farmers and other circulating fake coupons.

MERA Maintains prices of Petrol Diesel and Paraffin for month of December

Malawi Energy Regulatory Authority (MERA) considered recent trends in the world petroleum products prices and changes in other macroeconomic fundamentals in the local market and their impact on energy prices.

MERA assessed the combined effect of the movement of the FOB prices and exchange rate of the Malawi Kwacha to the US Dollar as well as changes in local factors that determine the maximum pump prices and noted that the landed cost of Petrol, diesel and paraffin increased by 15.35%, 23.51% and 23.28%, respectively.

The change in the landed costs for all the three products is beyond the ±5% trigger limit which qualifies petrol, diesel and paraffin for an upward pump price adjustment.

The MERA Board, however, resolved to maintain pump prices for all the three products and apply the accumulated funds in the Price Stabilisation Fund (PSF) to cover the increased landed cost of the three products.

For the month of December 2017, fuel pump prices have therefore been maintained.

Petrol was 824.70 and remains 824.70
Diesel was 815.80 and remains 815.80
Paraffin was 648.70 and remains 648.70

Prices were also maintained for Liquefied Petroleum Gas (LPG) and Jet A-1 fuel.
The information above is contained in a press release signed by MERA Chief Executive Officer (CEO) Dr. Collins Magalasi dated 08th December 2017

Magalas in the press release said all operators are required to sell petroleum products at prices not exceeding these maximum pump prices.

Vice President Chilima addresses Global Agriculture Forum and meets President of Benin

Vice President Dr. Saulos Chilima Tuesday addressed the high-level inaugural meeting on agriculture and food security under the Malabo Montpellier Forum in Cotonou, Benin.

Dignitaries at the meeting included Benin’s Minister of State for Planning and Development, Abdoulaye Bio Tchané, cabinet ministers, representatives of multilateral and bilateral development agencies and members of the Malabo Montpellier Panel.

In his speech, Chilima said the Malabo forum is enough evidence that food and nutrition security are top priorities in Africa, adding alot needs to be done for Africa to attain food and nutrition security status.

“This explains why food and nutrition security is a major preoccupation of many governments and development agencies,” he said.

Chilima highlighted several efforts at international, regional and national level aimed at achieving food and nutrition security.

The Malawi vice president said for instance, the United Nations’ Sustainable Development Goals has goal number two which is aimed at achieving zero hunger while the African Union’s Agenda 2063 has its aspiration number one as ‘prosperous Africa based on inclusive growth and sustainable development.’

In addition, the African Union declared 2014 as ‘Year of Agriculture and Food Security in Africa’ as a way of tilting focus as a way of tilting focus towards agriculture and food security.

Said Chilima: ” Further, the New Partnership for African Development (NEPAD) has agriculture and food security and Climate change and natural resource management as two of its strategic directions. The Southern African Development Corporation (SADC) Food and Nutrition Strategy for 2015-2025 has its goal to significantly reduce food and nutrition insecurity in the region by 2025.”

The veep said on national level, ‘Malawi has just completed a development strategy for 2017-2022 where priority number one is agriculture, irrigation development and climate change management.’

Chilima added that ‘the country is also implementing the National Agriculture Policy.’

He however said a lot more needed to be done by, among other interventions, investing in areas that intensify agricultural productivity and food production through irrigation and improved water management

He further said there was need for diversification of production systems and diets with indigenous fruits, vegetables, and grains.

The veep also called for investment in market information technologies, climate resilience building, product standardization, and food safety regulations.

” African agriculture should shift from largely rain-fed to irrigation. Malawi is finalizing National Resilience Strategy to harness efforts and pool resources towards building resilience,” he emphasized.

He further called for regulation enforcement to ensure that counterfeit food stuff are inspected and removed from the market.

“This requires governments and corporations to work together to promote healthier diets and consumption patterns through appropriate food system regulation and controls,” he said.

The Veep called for a holistic and inclusive approach to fighting malnutrition, promoting agriculture and achieving food security in Africa and at national level.

After the official opening of the conference, Chilima went to the Presidential Palace for a closed door meeting with Benin President Patrice Talon where he conveyed warm regards from President Arthur Peter Mutharika and the people of Malawi.

The Conference ends later Tuesday and Chilima is expected back in Malawi on Thursday.

Malawi is now Least Development Countries’ vice chair; calls for industrial support

VIENNA- (MaraviPost)-Malawi is now the Vice Chair of the Least Development Countries (LDCs) for the next three years, The Maravi Post has learnt.

This is an opportunity for the country to benefit on reliable connectivity and energy, capacity building in human development, technical skills and financial support.

Malawi was nominated during the just ended 7th edition of the United Nations Industrial Development Organization (UNIDO) LDCs) Ministerial Conference took place on 23-24 November 2017, in Vienna, Austria, prior to the 17th UNIDO General Conference.

Under the theme “Building global partnerships: Enhancing Growth and Inclusiveness in LDCs” the conference’s objective was to identify innovative schemes and mechanisms by enabling partnership building and resource mobilization for Sustainable Industrial Development in LDCs

The Minister of Industry Trade and Tourism, Henry Mussa led the Malawi delegation to the conference with the call for industrial support from developed nations.

In his acceptance speech while also chairing the high level session of the conference Mussa acknowledged the enormous challenges faced by the membership in the roadmap to graduate into the middle class economy category.

The Malawi Trade minister therefore pledged total support to the LDC to counter the hurdles.

“On my part, I commit to support fellow LDCs in our quest to Industrialize, Create Jobs, Produce Quality Products and Services, and Promote Innovativeness that would lead to expansion of high innovative technologies into improved productive capabilities,” the Vice Chair emphasized.

Mussa however observed from the discussions that it was clear that unless LDCs embrace the Industrialization, Digital Revolution and Value Chain Technologies, members are bound to continue lugging behind in their social and economic development.

He further called on member states to focus on prioritizing Provision of Infrastructure like reliable Connectivity and Energy, Capacity Building in Human Development, Technical Skills and Financial Support.” He added.

Mussa emphasized the need for Collective efforts and corroboration with all stakeholders including Private Sector, Civil Society Organizations (CSOs) and development partners both at regional and international level to support the quest for structural transformation in economic drive, value chain and appropriate Skills.

“We need to broaden and strengthen our Regional and International integration for mutual benefit if PPPs are to succeed. We need to tap and benefit from the emerging economies. Let us make use of the regional integration by capitalizing on our ready markets and cheap labor,” said Mussa.

The two-day conference also discussed the determinant role of multi-stakeholder partnership-building and the importance of investment promotion, as well as innovative financing solutions for LDCs’ Industrial Development, to achieve the Sustainable Development Goals (SDGs) by 2030 and beyond.

The opening session of the Conference was addressed by the Director General of UNIDO, Li Yong, and Director General of the United Nations Office at Vienna, Yuri Fedotov and the High Representative for the LDCs, Landlocked Developing Countries and Small Island Developing States (LDCSIDS) Ms. FekitamoeloaKatoa ‘Utoikamanu.

All set for MK19.8m TNM Toyota Hilux draw

BLANTYRE-(MaraviPost)-One lucky TNM customer this week stands a chance to win a brand Toyota Hilux worth MK19.8 million during the monthly draw of TNM Plc’s “Kwatentha” Summer Splash promotion.

Head of Marketing Division Sobhuza Ngwenya says the integrated mobile network and ICT services operator is ready for the first Toyota Hilux draw, and thanked customers for their continued support of the company’s products and services.

“The grand prize of a Toyota Hilux underscores our commitment to give back to our prepaid customers, by supporting them directly with prizes needed to improve their livelihood,” said Ngwenya.

“We are encouraging our customers to continue participating in this promotion.TNM believes this promotion is a game changer in as far as transforming the lives of our loyal customers is concerned,” said Ngwenya.

Ngwenya added that apart from the three Toyota Hilux, other fortnight prizes such as Huawei Y3 Lite smart phones, power banks, branded t-shirts and caps were included in the promotion to make it more fulfilling for customers.

“A pick-up comes as a utility vehicle for many meaningful ventures such as farming, construction and is a ready answer to family and community transportation needs while phones and power banks will provide our customers unlimited connectivity,” he said

At the draw, TNM will also dish out fortnightly prizes ranging from Huawei Y3 Lite smart phones, power banks, branded t-shirts and caps to over 200 lucky customers.

Launched on November 9, Kwatentha, promotion aims to reward both new and existing customers for switching to TNM and staying on Malawi’s own mobile and ICT network.

To qualify for fortnight and monthly draws customers need to top up with a minimum of K200 or more and stay active on the network

The promotion runs from November 9, 2017 to February 9, 2018.

Tanzania: African Development Bank accelerates development pace with ‘High 5’ priorities

John Magufuli
Tanzania’s President John Magufuli under fire on pregnant schoolgirls ban

Abidjan, Côote d’Ivoire, 8 December 2017 – The African Development Bank’s 2017 Country Results Brief released recently is dedicated Tanzania.

The report analyzes Tanzania’s economic situation as a country at the crossroads that has maintained an average growth rate of 6% over the last decade — supported by the industrial sector and agricultural exports — with human development gains. The brief reviews the Bank’s performance in Tanzania against the goals it set itself, including how it intends to help the country achieve inclusive and sustainable development, with the overarching objective of raising the country to middle-income status by 2025.

“Tanzania is an excellent example of how the Bank can have an impact on development through its High 5s,” said AfDB Director General for East Africa Gabriel Negatu. “Thanks to our investments, the country is well on track to becoming a middle-income country by 2025.”

Among other investments, the Bank is doing a great deal to modernise roads, which are vital for the country’s development and the well-being of its population: nearly 12,660 km of roads have been built over the past ten years, facilitating the mobility of people and trade. The AfDB now plans to put more emphasis on improving urban transport systems and regional roads connecting Tanzania to neighboring countries.

  • Another priority for the Bank in Tanzania is to create a dynamic private sector that can provide productive jobs—a crucial element for the country’s future and its people, as some 800,000 young people enter the labor market every year. .
  • This Country Results Brief describes recent economic and social trends in Tanzania, particularly those related to the Bank’s five key development priorities, the High 5s: Light up and Power Africa, Feed Africa, Industrialise Africa, Integrate Africa, and Improve the quality of life of the people of Africa. It also reviews how the Bank manages to optimise its investments by improving people’s quality of life:
  • Light up and power Africa —70% of Tanzanians still do not have access to electricity and the demand for energy continues to grow. With its New Deal on Energy for Africa, the AfDB is working to unify efforts to provide universal access to energy. The Bank has built 630 km of transmission and distribution lines.
  • Feed Africa — 40% of Tanzanians live in food insecurity, while the country has large pockets of arable land. Optimal use of these lands in agriculture would significantly improve the living conditions of the population. The Bank’s action in this domain has dramatically improved the lives of four million Tanzanians.
  • Industrialise Africa —The Tanzanian economy suffers from a lack of industrialisation. Only a quarter of the population has access to financing to engage in entrepreneurship and small-scale development projects. The Bank supports financial institutions that have granted 155,000 microloans and project investments to benefit 455,000 people.
  • Integrate Africa — With its Regional Integration Policy and Strategy, the Bank aims to facilitate the flow of goods and services, as well as the mobility of people and investments. It has built 12,660 km of roads in the country.

Improving the quality of life for the people of Africa — Tanzania’s economic growth has not been fast enough, nor inclusive enough to create jobs and improve people’s quality of life. The Bank is working to strengthen the technical skills of thousands of Tanzanians to enable the country’s economy to realize its full potential in sectors with high recruitment potential. The Bank has already enabled 3,860 people to benefit from vocational training and another million to gain access to education.
This report reviews Tanzania’s progress on the Bank’s High 5s, based on a set of indicators from the Bank’s 2016-2025 Results Measurement Framework. It also assesses the effectiveness of the Bank in managing its operations in the country.

“Our footprint in Tanzania is strong, as we have hardwired our Business Delivery Model into project design for sustainable outcomes”, said Simon Mizrahi, Director for Delivery, Performance Management and Results.

In order to meet the specific needs of Tanzania, the Bank is getting closer to the ground and optimising the use of its resources. All these changes will help achieve the desired structural transformation in Tanzania and on the continent, in line with the Bank’s ten-year strategy. The High 5 priorities are an integral part of that effort and will remain at the centre of the Bank’s ambitious plans to support Tanzania’s transformation within a decade.

Today, the Bank has a portfolio of 21 operations in Tanzania, valued at US$1.8 billion.

Virginia Tech engineers team with Malawi university to set drone records

Drone delivery moved one step closer to reality in sub-Saharan Africa after Virginia Tech and Malawian teams conducted tests at the UNICEF drone testing corridor in Kasungu, Malawi.
The flights by a fully autonomous aircraft designed in mechanical engineering’s Unmanned Systems Lab set several records in Malawi, including the longest cross-country unmanned aircraft flight, the first flight of an aircraft fabricated by Malawians, and the first delivery of a payload from a health clinic. Continue reading Virginia Tech engineers team with Malawi university to set drone records

Government ready for FallArmy Worms

The Ministry of Agriculture says it has procured 25, 000 liters of Cypermethrin in readiness for any possible outbreak of Fall Armyworms this planting season.

Speaking in an interview, spokesperson Osborne Tsoka disclosed that so far no case of Fall Armyworm attack has been reported in the country.

He indicated that the chemical has been procured with support from the World Bank, European Union and the Department for International Development.

Additional chemicals will be purchased, he indicated.

Recently, agriculture experts at Bvumbwe Research Station indicated that three chemicals to counter attacks of fall army worms will be available this planting season.

Since the start of the planting season for 2017/18, maize farmers, especially in Southern region districts, are eagerly waiting for government‘s support to counter the outbreak of Fall Armyworms which destroyed close to 40, 000 hectors of maize last season.

Some farmers in Mulanje district have asked agriculture experts to conduct an early assessment on crops to contain the outbreak of the fall armyworm.

Bvumbwe Research Station manager Thomson Chilanga said that laboratory tests done in the country’s research stations show some chemicals are effective to kill Fall Armyworms.

He indicated that local suppliers were identified to supply the chemicals, including Cypermethrin, to ensure they are accessible and affordable this planting season.