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.

Peacock Hotel, Pacific Hotels defy Malawi Bureau of Standards closure order

Peacock and Pacific Hotels had its food department closed by MSB yesterday for serving food which did not meet MSB standards

Food departments of two upscale hotels in Malawi’s capital Lilongwe—Peacock Hotel and Pacific Hotel– were seen serving food in the afternoon of Wednesday defying a Malawi Bureau of Standards (MBS) order issued in the early hours of the day closing the two hotels for serving sub-standard food.

According to MBS officials who took part in the closure exercise, the food departments of the two hotels were closed after MBS noted that the food served were not of the standards that MBS recommends.

“I cannot say… but yes, we’ve closed down the food departments at Pacific Hotel and Peacock Hotel,” an MBS official said when asked about the incident.

Asked why the food departments were operational despite the closure order, one official who did not want to be named told The Maravi Post that they know nothing about the MBS closure order as they have not received it neither from MBS or any other authority.

Meanwhile, MBS has not publicly commented on the two hotels’ continued operation in the face of the closure order.

Peacock Hotel is owned by a Chinese while Pacific Hotel is owned by an Asian.

29 budgetary allocations approved, sports ministry deferred due to typing errors  

German Ais to Malawi
Germany Ambassador to Malawi, Jurgen Borsch (R) and Minister of Finance, Economic Planning and Development Dr Goodall Gondwe (L)

BLANTYRE-(MaraviPost)—Malawi Parliament on Tuesday approved 29 mid-year budgetary allocations out of 52 ministries, departments and agencies (MDAs).

The vote for Ministry of Sports and Culture was deferred due to typing errors.

According to the Daily Times, the 29 approved votes include those of Office of the President and Cabinet, Office of the Vice President, State Residences, Judiciary, Ministry of Agriculture, Irrigation and Water Development, Ministry of Education and the Directorate of Public Officers’ Assets Declaration. Continue reading 29 budgetary allocations approved, sports ministry deferred due to typing errors  

RBM to dismiss employee behind video clip showing ACB handing over Chaponda’s cash

Chaponda's Cash
ACB Employee handing over Chaponda’s Cash to RBM Employees

The Reserve Bank of Malawi has launched a manhunt for its officer who shot a video clip circulating in the social media showing the Anti-Corruption Bureau (ACB) handing over millions of Kwachas and foreign currencies seized from the just fired minister of agriculture Dr George Chaponda, The Maravi Post can reveal.

According to our reliable source, the investigation started on Wednesday, a day after Chaponda’s cash was confiscated. Continue reading RBM to dismiss employee behind video clip showing ACB handing over Chaponda’s cash

Breaking: Airtel losing money in Africa, said To Exit Malawi This Year

Airtel
Bharti Airtel, the mother company of Airtel Malawi has announced that it will be exiting 14 African countries including Malawi within a year

Bharti Airtel, the mother company of Airtel Malawi has announced that it will be exiting 14 African countries including Malawi within a year.

The affected countries include Ghana, Nigeria, Congo, Chad, Gabon, Kenya, Madagascar, Malawi, Niger, Rwanda, Seychelles, Tanzania, Uganda and Zambia.

BloombergQuint quotes Bharti Airtel Chairman Sunil Bharti Mittal as saying “the move would pare the size of operations in the continent and could be completed within a year….some of Bharti’s businesses in 14 African nations would be affected.” Continue reading Breaking: Airtel losing money in Africa, said To Exit Malawi This Year

Gertrude Mutharika attending AU in her capacity as President of the Organization of African First Ladies Against HIV/AIDS

Gertude Mutharika
Malawi First Lady Gertrude. Mutharika

First Lady of the Republic of Malawi Madame Dr. Getrude Mutharika has arrived in Addis Ababa the capital city of Ethiopia.

Madame Mutharika who has just assumed the Presidency of the Organization of African First Ladies Against HIV/AIDS (OAFLA) is scheduled to attend the Steering Committee meeting of OAFLA this Sunday at the African Union Plenary Hall in Addis Ababa.

The OAFLA meetings will be taking place on the sidelines of the 28th AU Summit which will also take place in the Ethiopian capital.

OIBM to retrench half of its staff over economic crisis

The Opportunity International Bank of Malawi (OIBM) plans to retrench 250 of its employees across the country this week, The Maravi Post can reveal.

OIBM: plans to retrench half of its staff due to tough economic times in Malawi

This is as a result of tough economic situation in Malawi which has not only hit the bank but the country as whole.

Some OIBM senior officials who did not want to be named disclosed this to The Maravi Post saying the meeting regarding the retrenchment was conducted last night.

The Maravi Post understands that the bank has 450 workers across the country.

“The meeting already took place last night, what will happen is that 250 employees out of 450 across the country will lose their jobs,” said our source.

This is not the first time for the bank to retrench its employees as it conducted the same exercise last year.

OIBM also closed some of its branches across the country last week because of the same problem.

MK175, 000.00 fine for Attempting To Externalize Forex

ZAR7000
ZAR7000 forfeited to the Malawi Government.

Lilongwe First Grade Magistrate (FGM) sitting under Her Worship Lucy Beza mrs on 23rd January,2017 convicted and sentenced Mr. Mathews Zimba for attempting to externalize forex and found in possession of the same.

Court through state prosecuter S/Insp.Mary Photolaheard that Mr.Mathews Zimba ,46 yrs,from Village Longwe,Traditional Authourity Mzukuzuku in Mzimba holding a Malawian Passport Number MA194329 on 15 January,2017 at around 13 00hrs at Kamuzu International Airport’s forward lounge after been physically searched by Police Officers manning the point was illegaly found in possession of foreign currency and attempting to externalize the same . Continue reading MK175, 000.00 fine for Attempting To Externalize Forex

Malawi Revenue Authority seizes truckload of vandalized items

Officials from MTL Escom water board and the Police witness

The Malawi Revenue Authority (MRA) has seized over 2000 kilograms of vandalized cables, water pipes, bolts and taps a fuel tanker in Mzuzu.

The vandalized items were intercepted on Tuesday, thanks to check points and patrols mounted by MRA Flexible Anti-Smuggling Teams (FAST) in the city.

The items were concealed in sacks inside the tanker, registration number PE 7146 belonging to Petroda Malawi Limited which was heading for Tanzania. Continue reading Malawi Revenue Authority seizes truckload of vandalized items

Nyasa BB pockets over K42 million from 2016 super league gross gate revenue, K10 million ahead of Mighty Be Forward Wanderers

BLANTYRE-(MaraviPost)—Former defending champions of the TNM Super League Nyasa Big Bullets have led the earning chart of the league’s gate revenues collected in the 2016 soccer season.

According to the organizers and administrators of the flagship league the Super League of Malawi (Sulom), the 2016 Soccer Season grossed K420,579,639.85 surpassing the figure of K314,502,686.07 collected in the 2015 Season. Continue reading Nyasa BB pockets over K42 million from 2016 super league gross gate revenue, K10 million ahead of Mighty Be Forward Wanderers