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

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Business, Malawi, Technology, Top News

Airtel re-launches “Kutchova loans”; customers to access MK80, 000 without collateral

Maravi Post Reporter

LILONGWE-(MaraviPost)-In bid to empower its customers on financial inclusion the country’s leading Smartphone and network provider Airtel Malawi on Thursday re-launched “Kutchova loans” that subscribers will be able to access the soft loans up to MK80,000 without collateral.

The initiative aimed to reach many customers that access to such loans should make meaningful usages for their daily undertakings.

With financial partnership with FDH Bank since March 2016, “Kutchova loans” customers are able to borrow money on Airtel money depending on their airtime usage and how long have there been using the network.

The product which was on 18 months pilot phase with a limit of MK40, 000, now customers will be allowed to access the funds up to MK80, 000.

The Kutchova loan will have a 15 day loan repayment period to be paid at 10 percent handling fee. The loan has therefore the convenience of being extended to 30 days with an extra 2.5 penalty fee added to the initial 10 percent.

Charles Kamoto, Airtel Malawi’s Managing Director told the news conference in the capital Lilongwe that re-launching of the product is to empower customers economically with additional funds for meaningful usage.

Kamoto said all terms and conditions have been put in place to address loans defaulters which will be applied to all customers that product be continued to serve more subscribers.

“Kutchova’ is an easy, simple and instant means to access loans via phone anytime, anywhere without traveling providing collateral or completing any paper-work.

“Usual terms and conditions will apply as Kutchova is only available to Airtel Money Subscribers who have been on Airtel Network for a minimum of six months. The loan will solely depend on the customer’s usage of their Airtel Money account, and making of voice calls on the Airtel Sim card,” says Kamoto.

FDH Managing Director, Eric Quattara assured Airtel customers of his company’s commitment to increase financial support towards the services that more rural Malawians are part of economic inclusion.

Quattara added that with the mobile banking expects more people in the country to improve their economic transformation for the better.

To access Kutchova loans, the customer needs to dial *211# which will give instructions for further steps with a request limit from MK3, 000 to MK80, 000.

Currently, Airtel is running a 13-week promotion for its customers in this festive season by topping up airtime that five lucky winners get MK200,000 daily and one subscriber get MK1million weekly whose grand prize is MK5 million at the end of the promotion.

Business, Malawi, Top News

Mutharika urges Malawians not to mismanage strategic fuel reserves

Malawi News Agency (MANA)

LILONGWE-President Peter Mutharika has urged Malawians and officials managing the Strategic Fuel Reserves in the country not to mismanage the use of the reserves.

President Mutharika made the remarks in Lilongwe Wednesday during the commissioning of the National Strategic Fuel Reserves at National Oil Company (NOCMA) Lilongwe depot. The strategic fuel reserves have been constructed in Blantyre, Lilongwe and Mzuzu.

Mutharika said the three Strategic Fuel Reserve facilities which have a combined capacity of 60 million litres would ensure security and stability of fuel supply for the country.

“The current consumption trend of fuel is equivalent to two months cover for the country; the country will have enough stock to keep the economy going even when there is disruption in the supply chain system,” he said
.
The Malawi leader added that the strategic fuel reserves are the benefit of the people assuring he would support any progress aimed at ensuring the stability of the facilities and protect the interest of the country’s people because fuel is the lifeline of this nation.

Mutharika observed that currently there are more people using fuels and that the country’s economy is now moving.

He however, warned the careless construction of filling stations in undesignated places noting that he has seen filling stations constructed in locations where there is no discipline.

Mutharika said: “Some filling stations are constructed too close to the houses which is dangerous. I want to see the authorities act on this matter and ensure that filling stations are constructed and built in safe locations.”

NOCMA Chairperson and Chief Secretary to the Government, Lloyd Muhara and the Minister of Natural Resources, Energy and Mining, Aggrey Masi said Strategic Fuel Reserves are one of the major projects under the Ministry of Natural Resources, Energy and Mining.

The two said the commissioning of the Strategic Fuel Reserves marks the start of a new chapter in the issues that surround the country’s economy.

They said this signifies the Malawi government’s commitment in ensuring secure supply of fuel which is a crucial component of the country’s economy.

“The commissioning of these Strategic Fuel Reserves are an outcome of government’s massive investment in the economy,” said the duo.

The Lilongwe and Blantyre depots each have 25 million litre capacities while Mzuzu’s capacity is 10 million litres.

Registered in 2010, NOCMA’s mandate is to manage the country’s Strategic Fuel Reserve facilities, promote competition in the oil and gas industry and to promote oil and gas exploration activities in order to ensure stability and security of supply of liquid fuel and gas products.

Business, SADC

Rare public Apology and Explanation from ESCOM

Ufulu

In Malawi, where less than 12 percent of the population has access to electricity, the lack of a reliable power supply is a major constraint to economic growth. Malawian firms consistently cite weakness in the electricity sector as one of the major obstacles to doing business. When power cuts out, firms must either shut down or run their own generators at very high costs. Indeed, the buzz of generators is a common background noise in businesses and hotels in Lilongwe, the country’s capital.

 

Malawians who have resigned to these never ending power failures and have been frustrated with the response from ESCOM were however surprised to receive an apology and full explanation to nationwide power failure that happened on December 6th.

 

Below is the full apology from Escom:

ESCOM
Rare public Apology and Explanation from ESCOM
Business, Top News

Airtel launches “PaNet Easy Data Scratch card” for instant internet browsing

Lloyd M’bwana

LILONGWE-(MaraviPost)-In its continued quest to excite customers in this festive season, the country’s leading Smartphone and network provider Airtel Malawi on Wednesday launched a new platform to use when purchasing data bundles.

Dubbed as “PaNet Easy”, the service targets new subscribers by providing convenient platform of toping up their data bundles of choice directly.

This product replaces the old way of purchasing credit data whereby customers used to top up first then dialling *301# that follows further instructions.

With “PaNet Easy” customers need to buy a scratch card for data of 30MB and 170MB bundles denominations pegged at MK150 and MK500 respectively.

With the PaNet Easy Scratch card, the subscriber can now access the internet in three easy steps; simply scratch, load and browse.

Customers therefore simply load the PaNet scratch card dial then dialling *401*PIN#, and *404# in order to check their bundle balance.

Emmanuel Kasambala, Airtel Malawi Marketing Director told news conference in the capital Lilongwe that customers deserved better purchasing model of data bundles.

Kasambala assured the subscribers that the data buddle scratch card will be available in all retail shops across the nation.

“As a customer-centric brand, we listened to the feedback, adapted it and have produced the PaNet Easy scratch card for our customers who prefer and enjoy the convenience of topping up their specific data bundle of choice directly.

“Customers can now focus on topping up data on its own. With the PaNet Easy Scratch card, the subscriber can now access the internet in three easy steps; simply scratch, load and browse. This is the first of its kind on data bundle purchasing,” lauded Kasambala.

This comes a few days that the company also excited its customers with additional promotion products for the coming festive season; Christmas and New Year.

The promotion products introduced including free data for a day when a customer top up with a minimum of MK250 airtime and above.

Using Airtel money, ATMs, direct top up or recharge card, the customer will automatically enter to win daily cash prizes of MK200, 000.00 to five lucky customers every week.

On top of that a subscriber will win MK1 million weekly that all participating customers qualify for the chance to win the grand cash prize of MK5 million, MK3 million and MK2 million at the end of the promotion in 13 weeks.

Customers therefore will continue enjoying 15 free minutes to call other Airtel numbers from 10pm until 4am (by toping up with MK100) to the already exciting 100 free SMS when they send 1 SMS.

Agriculture, Malawi

Malawi off-track on food diversification, politics at play-Agriculture expert says

Lloyd M’bwana

LILONGWE-(MaraviPost)-Malawi is said to be losing its peripheral of food diversification to avert hunger crisis the country has been experiencing over the years, Maravi Post has learnt.

The quest to promote various food crops has been on paper work defeating the whole purpose to make the country the food basket.

It has been observed that maize remains the sacred crop that gets much needed financial support through Farm Inputs Subsidy Program (FISP).

A lot of billion of Kwachas are allocated yearly to FISP to promote maize sideling other food crops including rice, cassava, millets and others that could the country rely on than only maize.

In an interview with The Maravi Post, agricultural expert and consultant Tamani Nkhono-Mvula disclosed that food diversification is failing to materialize in the country due to political influences that policies at hand favor maize.

Nkhono-Mvula observed that maize has been taken as political crop-tool where a lot of resources are given at the expense of other food crop which could make the country a food basket.

The agriculture expert was speaking on Monday in the capital Lilongwe after the sidelines of report validation on food nutrition and climate change resilience and policy analysis.

Mvula however noted one challenge that has been observed has been the continuity of programs initiated by one regime to the other regime.

“It has been observed that usually the coming in Presidents discontinue the initiatives started by the previous President. This has led to resources and momentum being lost,” said Nkhono-Mvula.

Civil Society Agriculture Network (CISANET) and CARE International organized the conference aimed at popularizing the report to the public and authority for informed decision.

The study commissioned by CARE aimed at providing an overview and analysis of the policies affecting and influencing Food Security and Nutrition but also Climate Change Resilience among the farming communities in Malawi.

The analysis has made an attempt to unpack the major policies in Malawi in as far these issues are concerned and also looked at some of the international and regional policy frameworks guiding the policies at the local level.

“Although maize remains the country’s staple food due to its output production in small piece of land than any other crop, sideling other food crop is suicidal.

“There has been political connotation on maize hence many resources are provided to it through FIPS. This has to change completely. If food diversification is to be materialized then let the authority give necessary support to other crops such as rice, cassava, millet and others,” urges Mvula.

Mathews Pickard of CARE International emphasized the need for the country to embrace dictates of food diversification coupled with implementable policies achieve food security in the country.

In the report CARE believes that the success or failure of any policy is to greater extent influenced by the political, social, and economic environment in which they are being implemented.

An attempt has also been made to analyze the farming communities, gender characteristics underpinning policy decision and also probably affecting policy implementation.

Business, Top News

Airtel Malawi excites customers with “Kuufira festive season promotion”; lucky winner gets MK1million weekly

Lloyd M’bwana

LILONGWE-(MaraviPost)-The country’s leading Smartphone and network provider Airtel Malawi on Monday excited its customers with additional promotion products for the coming festive season; Christmas and New Year.

The promotion products introduced including free data for a day when a customer top up with a minimum of MK250 airtime and above..

Using Airtel money, ATMs, direct top up or recharge card, the customer will automatically enter to win daily cash prizes of MK200, 000.00 to five lucky customers every week.

On top of that a subscriber will win MK1 million weekly that all participating customers qualify for the chance to win the grand cash prize of MK5 million, MK3 million and MK2 million at the end of the promotion in 13 weeks.

Customers therefore will continue enjoying 15 free minutes to call other Airtel numbers from 10pm until 4am (by toping up with MK100) to the already exciting 100 free SMS when they send 1 SMS.

Emmanuel Kasambala, Airtel Malawi Marketing Director told news conference in the capital Lilongwe that customers must value their monies with exciting products to improve their mobile phone experience through extra minutes.

“Let the “Kuufira fever begins! The first draw will be done on Wednesday, December 13, 2017. But until then, as I already intermitted at the begging; stay tuned as we will be unveiling a few other exciting additional to some of our products over the next few days,” assures Kasambara.

Last month Airtel launched a “PA NET DATA TIPS Campaign”, the initiative aims at equipping customers for proper usage of data amid improved network which is consuming much credit data.

Business

MBS shutdown Pacific Hotel, Universal Industries, Stary Puffs over poor hygienic conditions

Maravi Post Reporter

Malawi Bureau of Standards (MBS) has, with immediate effect, suspended operations of four food and beverages production companies for non – compliance to minimum hygiene standards.

The four food production companies are Universal Industries at Ginnery Corner in Blantyre, Pacific Hotel and Conference Centre, Stary Puffs and Vrushadri Spirits Limited in Lilongwe.
Speaking in an interview, MBS Executive Director, Davlin Chokazinga, said the companies have been suspended from offering services as stipulated in the Malawi standards of food processing and production units.

“We found that the companies were not adhering to hygienic conditions contrary to the Malawi Standard number 21 of the Food Processing Code of Hygienic conditions which empowers MBS to close down institutions which do not comply with stipulated guidelines.
“That is why we temporarily shut down the companies,” said Chokazinga.

However, he said the companies have been given some time to improve on the areas lacking the hygiene, noting that, that can only be done while the units are closed temporarily.

“These companies are supposed to maintain hygienic conditions being food production firms in the country. The suspension will therefore be lifted depending on how soon they will rectify the problems, if not, they will be taken to court to justify why they put lives of consumers at risk,” he warned.

Chokazinga, therefore, assured people in the country that the bureau would continue to inspect production and manufacturing companies regularly to ensure sustained compliance to set standards.

However, Universal Industries Limited management insisted that the only person who could comment on the matter was the Production Manager who was out of the country on official duties at the time of going to press.

Further attempts to talk to management of Pacific Hotel in Lilongwe did not pay off as the reception line was persistently busy.

Business, Malawi, SADC

FEMCOM ultra-complex needs US$ 80 million; member states requested for urgent financial support

Lloyd M’bwana

LILONGWE-(MaraviPost)-The much awaited Federation of National Association of Women in Business in Eastern and Southern Africa’s (FEMCOM) magnificent complex needs between US$50 million and US$80 million for its completion.

The need for the complex funds comes after Malawi government allocation 10 acres along Kanengo and Lumbadzi M1 road in the capital Lilongwe.

FEMCOM’s ultra-modern headquarters will comprise of administration offices, trade, exhibition, press and media centres among others.

With the dynamic business environment across the region of 19-member states of Common Market for Eastern and Southern Africa (COMESA), the facility is also expected to host international business conference for women for their economic empowerment.

Despite growing perception that the social environment would be receptive to the claims for conducive environment to the women entrepreneur, with the completion of the complex, the rhetoric of gender equality will turn into reality.

FEMCOM Board chairperson Joanne Mwangi Yelbert told the news conference in the capital Lilongwe that the construction of the facility will take three years before completion.

Yelbert emphasized the need for member states to cooperate in providing timely funding for the project saying is spirit heralds a new vista of hope, good will and opportunity for regional women in business.

She therefore lauded Malawi government for the land given earmarked for the complex saying it’s a reflection of African spirit of compassion and generosity.

On how much is the contribution from each member country, the board chairperson was non-committal considering that head of states have not yet met but targets will be given at the right time.

“We are urging the fast track of the project which requires between US$50 million and US$80 million to be completed within three years. Currently, we need funds to kick start constructing the facility which will be the first of its kid.

“It’s a regional initiative; therefore we expect member states to contribute generously the way Malawi has done by providing land for the facility. However, apart from waiting funds from member states, FEMCOM has lined up a number of activities sourcing funds for the project,” assures Yelbert.

FEMCOM is a COMESA institution, established in July 1993 with endorsement of the Authority made up of Heads of State and Governments of the COMESA member states, under Article 55 of the COMESA Treaty.

The regional federation was founded on the idea that regional economic integration cannot be seen to have succeeded without the full involvement and equal participation of women in business.

FEMCOM has national chapters in all 19 COMESA member states namely Burundi, Comoros, Democratic Republic of Congo (DRC), Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Libya, Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia and Zimbabwe.

It develops women entrepreneurship in the COMESA region and beyond through programs that promote, encourage and serve the needs of women and their businesses working in smart collaboration with relevant partners.

Business

Local bank hosts Cultural Diversity Night

Maravi Post Reporter

To celebrate culutural diversity with its customers, Standard Bank hosted cultural diversity night for its clients and employees at Bingu International Convention Centre (BICC) in Lilongwe.

Speaking during the event Standard Bank, Acting Chief Executive Temwani Simwaka, said the event accords the Bank an opportunity to interact with its customers.

“The Cultural Diversity Night gives the Banks the rare opportunity to interact with customers from diverse backgrounds, cultures and nationalities,” said Simwaka.

Simwaka said said the Bank embraces and values cultural diversity, which are pillars of any society.

“As a truly Pan–African financial service provider, Standard Bank customers and employees represent different cultures. Through culture, we are governed by norms and customs, which are the pillars of any society,” she said.

The Acting Chief Executive also assured its customers of better business in 2018.

“Our teams are committed to continue in making strides that aim to deliver excellence coupled with unwavering support, we promise to continue excelling in the provision of tailored, and structured solutions to all our customer segments,” said Simwaka.

The Cultural Diversity Night was attended by customers from Malawi, Mozambique, Zambia, Namibia, Nigeria, Kenya, South Africa, Zimbabwe, DRC, Angola, United Kingdom, China, and India among others.

Business

APPSA ready with 17 technologies to improve production; Malawi leads on maize

Lloyd M’bwana

LILONGWE-(MaraviPost)-The region’s research body, Agricultural Production Program for Southern Africa (APPSA) on Monday disclosed that is ready with 17 technologies in the next three month aimed at improving production.

The regional project led by Malawi has for the past three years released three technologies including two on rice seed and irrigation technologies.

Malawi is leading in seven out of 22 research and development projects reaching out to 840,403 beneficiaries against a target of 1,200,00. Lead farmers constitute 6,260 (females).

In its three day annual review conference with the World Bank mission under way in the capital Lilongwe, Dr. Mackson Banda, APPSA Project coordinator lauded the successes the initiative has impacted on rural farmers with improved varieties for high production.

With the same ecological and rainfall pattern for the three countries namely Zambia, Mozambique and Malawi, Dr. Banda says the project has shared technologies coupled with messages and infrastructure development including laboratories among others.

He however lamented on the language usage in the three nations as only Portuguese is spoken in Mozambique which must be integrated in the project which ends 2020 from 2013.

“The project has managed to produce various technologies on rice and maize which among notable one is Yellow Maize variety which has vitamin A for sight improvement. This variety will be liked by many based on health aspect.

We anticipate releasing 17 technologies in the next three months to improve production. Each nation concentrates on its research including maize, rice and regumes in Malawi, Mozambique and Zambia respectively. These technologies are shared for use,” says Dr. Banda.

Echoing on the same, Monica Murata of Center for Coordination of Agricultural Research and Development for Southern Africa (CCARDESA), a regional coordination body on research expressed gratitude on the project impact saying it was bearing fruits.

Murata emphasized the need for participating nation in the projects to invest must on effective research that will improve the rural farmers’ production amid effects of climate change.

With loan of US$29 million and US$1 million grants to each participating nations, the projects ends 2020 as Malawi leads on maize, rice by Mozambique and Zambia on legumes researches of various technologies.