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Petroleum Importers Limited (PIL), the major fuel importer has completed its Corporate Social Responsibility (CRS) for the year 2016 with a donation of 50 desks at Mpiranjala Community Day Secondary School (CDSS) in Machinga district. Continue reading PIL winds up 2016 CRC in Machinga; 8 cdss and 6 health facilities benefit from k50m CRC
LILONGWE-(MaraviPost)-The country’s tobacco marketing season which was expected to close on December 2, has been extended to the undisclosed date until all the green gold on the auction floors is sold.
The Maravi Post visit to Lilongwe Auction floors on Friday witnessed continual selling of the crop coupled with low prices and high rejection rate for both contract and auction tobacco farmers.
This is the second time the selling season has been extended after Tobacco Control Commission (TCC) prolonged the same in October this year.
According to AHL Group Corporate Affairs Manager Mark Ndipita, total of 182 million kilograms of tobacco has been sold in week 34 with the realization of US$263 million into government confers.
With the continual sending of green gold into three selling points; Mzuzu, Chinkhoma and Lilongwe, the authority has decided to extend the marketing season until all tobacco is sold.
TCC has however attributed dangling of the country’s green gold prices for past three years and 2016 inclusive marketing season to overproduction.
Overproduction of 30 million kilogram yearly has been registered mainly on burley tobacco which buyers are unable to fit in with their buying power.
For instance, this year buyers were looking for 132.5 million kilograms against an estimated local production of 165 million kilograms.
As a result tobacco buyers have already given 151 million kilogram ceiling of all types of tobacco in the next season.
This has prompted TCC to start enforcing strict quotas on farmers to remain within the required volume of tobacco in 2016/2017 growing season.
The new system which is dubbed as Farmers Management System (FMS) will require growers to provide information about their fields when applying for quota licenses.
Meanwhile, TCC has also extended the tobacco registration period of farmers for the 2016/2017 tobacco growing season to end December, 2016 due to shortage of registration cards.
The exercise which started in August was expected to end November 30, and as of November 29 about 63 growers had registered out of the targeted 150,000 farmers.
Standard Bank employees have joined the rest of the world in commemorating World Aids Day by forming a big red ribbon and lighting candles outside their head office in Lilongwe as a show of solidarity and commitment to fight against the pandemic.
Head of Marketing & Communications Thoko Unyolo said the activities are part of the bank’s comprehensive action in the fight against HIV/AIDS and other pandemics such as Tuberculosis and Malaria. Continue reading Standard Bank in Malawi invests in AIDS fight
Standard Bank Head of Personal and Business Banking (PBB) Dr Margaret Kubwalo-Chaika has advised women in leadership positions to expect to make tough choices in order to overcome difficult economic conditions.
Dr Kubwalo-Chaika was addressing a Women in Leadership Conference organised by the Employers Consultative Association of Malawi (ECAM) in Mangochi under the theme; “Inspiring Women in Leadership and Business Beyond Tomorrow: Connect. Engage. Grow”
“The supreme function of leadership is to take tough decisions especially in turbulent times such as the present. With planning and a sound strategy all organisations and individuals will survive the prevailing difficult times,” she said.
Kubwalo-Chaika said leadership that uses tried and tested skills such as networking, environmental sensing, customer retention and sales as well as risk management at the forefront of their organisations will carry the day.
The Standard Bank PBB head, one of the outstanding women leaders in the sector in Malawi analysed Africa’s challenges in the context of the continent’s slow economic growth, the onslaught of climate change effects as well as global political shifts such as the unprecedented election victory of in-coming U.S President Donald Trump, as some of the realities facing women in leadership today.
“There may be difficulties ahead, but with planning and a sound strategy all organisations and individuals will survive,” she said.
Kubwalo also singled out the impact of technology on modern life and business, urging the women leaders not to lag behind in adopting technology as a tool for in economic development efforts.
“It’s imperative for leaders to leverage on technology. Constantly being abreast of new ways of doing things would ensure that leaders do not get left. Customers now demand more from vendors, children want more from their parents and the larger society is asking more from governments,” she said.
Kubwalo-Chaika also warned the women leaders against nepotism, favouritism and corruption by making guided decisions on recruitment and human resource development.
“The key is to recruit properly, train comprehensively by providing up to date knowledge, motivate staff and set realistic goals. Leaders must give hope and guidance in order to minimise such risk,” she said.
The ECAM conference aimed to provide in depth training on competencies and frameworks that will help participants achieve results, and to expand their professional network with fellow women from diversified professions.
Standard Bank supported the event as part of its purpose of driving growth to build Mother Malawi.
Continue reading Standard Bank executive challenges women leaders
With only eight days to go to the finale of Za Bhoo! promotion, TNM says it is ready to turn the millionaire dream of one of its lucky customers into reality.
Customers get upright fridge & smart TV and K5 million grand prize still up for grab
Malawi’s integrated mobile network and ICT service provider TNM has conducted the second monthly draw of its ongoing “Za Bhoo” promotion which customers continue wining different prizes
Launched in September, 2016, Za Bhoo promotion aims to excite and reward customers for their support to the company’s products and services.
Speaking during the draw of the promotion in Blantyre, TNM’s Senior Manager Public Relations Akossa Mphepo the company has so far given out about K2 million cash, smart screens and upright fridges to lucky customers.
“We are now in 8th week of this promotion and we have given out K10, 000 to 10 people in the Za Bhoo weekly draw, 2 Smart Screen and 2 upright fridge in the monthly draw. In Za Bhoo TNM Quiz the company has dished out K10,000 daily cash prize to 7 people the past weeks while in Za Bhoo Instant mystery 15 lucky customers received K10, 000 each with 247 people getting K1,000 worth of airtime,” said Mphepo.
Mphepo encouraged subscribers to continue participating during the promotion as different prizes including the grand prize of K5 million are up for grabs.
“Since we launched this promotion in September, the response continues to be positive. We would like to encourage customers to continue participating in order to stand a chance of winning the remaining prizes that include the K5 million grand prize,” she said.
During the draw a primary teacher from Namachete Primary School in Zomba Emmanuel Mukiti has won an upright fridge.
“I’m very excited to be one of lucky winners of Za Bhoo promotion and I’m grateful to TNM for rewarding its customers,” said Mukiti
Apart from the designated prizes, TNM subscribers also get rewards in form of TNM-TNM free talk time minutes for every recharge above K100 during the promotion.
The grand prize for “Za Bhoo” promotion is cash amounting to K5 million and other prizes and during monthly draw TNM is dishing out one upright fridge and a smart TV to lucky winners.
To enter the promotion, TNM subscribers are required to recharge with scratch cards of K100, K200, K500 and K1000 respectively and stand a chance to win various exciting prizes for Za Bhoo Recharge & Win, SMS QUIZ to 9090 to Subscribe to TNM General Knowledge Quiz and stand a chance of winning in the weekly and monthly draw for Za Bhoo TNM Quiz or respond to an SMS prompt and SMS WIN to 9090 to check if they have won an instant mystery prize for Za Bhoo Instant Mystery Prize.
The promotion runs from September to November 2016.
BLANTYRE-(MaraviPost)—Malawi private sector has described the decision by Malawi Energy Regulatory Authority (MERA) to hike the fuel prices as a punishment.
Continue reading Malawi private sector describes fuel price hike as punishment
BLANTYRE-(MaraviPost)—Renowned economist Thomas Munthali has warned that depreciation of the Malawi currency is likely to continue if the government fails to put in place control measures on expenditure.
Munthali’s sentiments come amid announcement by the Reserve Bank of Malawi (RBM) that a K2000 note will be introduced by December.
Speaking to Zodiak on Saturday morning, the Zimbabwe based Malawi economist has said the RBM decision to introduce K2000 note shows that the central bank has acknowledged the economic challenges facing the country.
Munthali has said the central bank decision is aimed at reducing printing costs of the money in face of high inflation and devaluation of the local currency.
Responding to a question on whether the introduction of the new bank note signifies failure by the central bank to stop devaluation, Munthali said the over expenditure by the central government has contributed to the prevailing situation.
“I don’t think the central bank role is to manage devaluation. They are not there to stop devaluation but they have to make sure that if circumstances are pointing towards a situation where devaluation will continue, they have to find mechanism of addressing that. And by introducing this K2000 bank note it in no way we are going to stop devaluation.
“In fact what we have addressed are the symptoms of the challenges we are in and they think that the challenges will not be coming off any time soon. It goes back to the need for those in authorities like those in government to reduce expenditure levels because high inflation and pressure are as a result of the central government over expenditure,” said Munthali.
RBM said the current highest note of K1000 has lost value hence the decision to introduce the new kwacha note, K2000 on 19 December, 2016.
Making the announcement in Lilongwe on Friday, Governor of the central bank, Mr Charles Chuka said the number of K1000 notes in circulation has increased from 13 percent in 2012 to 36 percent in 2016.
“This has resulted in the general public carrying large amounts of cash when doing transactions risking their lives and property,” Chuka said
Chuka also said the introduction of the note has been necessitated due to the depreciation of the kwacha and inflation.
The kwacha is currently trading around K730 to the dollar while inflation hovers around 22 percent.
Chuka said the introduction of the note is also in accordance with Section 17 of the RBM Act of 2010.
The front of the note will bear the portrait of Reverend John Chilembwe while the back will have a motif of the Malawi University of Science and Technology located in Thyolo district depicting the theme of social development.
According to Chuka, the highest note should also be an equivalent of $5 even though K2000 will also fall short of the requirement.
The Reserve Bank of Malawi (RBM) will introduce the K2000 new note Maravi Post can reveal. According to the RBM manager Charles Tchuka this is because of economic crisis and devaluation of the kwacha.
“We want to tell Malawians that starting from December end they will be using a new note and that is K2000,” said Tchuka.
” This is because of the current economic turmoil as well as the devaluation of our note, ” he added.
Meanwhile, economic pundits are yet to issue a comment on the matter especially on what Malawians should expect from the development.
Historically, the Malawian Kwacha reached an all time high of 756.41 in February of 2016 and a record low of 4.15 in October of 1992.
The USDMWK decreased 9.2350 or 1.28% to 712.0900 on Friday November 11 from 721.3250 in the previous trading session. The USDMWK changed +0.35% during the last week, +0.30% during the last month and +25.51% during the last year.
Continue reading K2000 note to be on Malawi market in December
In its quest to continue providing convenience to customers using the LTE/4G internet platform, TNM has introduced 4G LTE bundles and advance data bundle purchase plan that gives clients the option to purchase data bundles 3,6 and 12 months in advance.
This is a first from TNM which, until recently, offered short term bundles with a daily, weekly and monthly validity period.
TNM’s Chief Officer-Enterprise Services Vishwajeet Deshmukh said the new bundles are designed to suit the LTE/4G internet platform and offer several key benefits to the end user.
“The long term validity enables the client to plan their spending without having to worry about price fluctuations due to inflation. It also eliminates the inconvenience of data running out before a billing cycle ends as well as the hassles of frequent data buying and loading.
He added that the roll-over feature, which enables users to carry over left over data for a period of time depending on the amount purchased, addresses customer concerns of data expiring before it has been used.
The advance data bundles come with an incentive bonus ranging from 5% to 15%. The three months bundle will come with 5% bonus, six months 10% and 15% bonus for the 12 months bundle.
The Chief Officer (Enterprise Services) also announced the introduction of 6GB and 8GB data bundles at the price of K15, 500 and K19500, respectively.
Customers can buy their bundles through the TNM App, USSD code and SMS.
