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Premier mobile network and ICT provider TNM will on Saturday complete this year’s golfing calendar in style at Lilongwe Golf Club where it will host the last customer appreciation tournament for 2016 under the auspices of TNM Enterprise Business, the company’s unit that offers ICT business solutions. Continue reading TNM wraps up 2016 golf in Lilongwe
African Caribbean and Pacific Group of states (ACP Group) have said the national and regional programmes of the 11th European Development Fund (EDF) remain a critical area of focus for country’s development.
ACP Group Assistant Secretary General Henrique Banze was speaking yesterday during the 11th EDF strategy paper for senior officials from National and Regional Authorizing Offices on ongoing three day workshop in Lilongwe (Malawi) Continue reading African Caribbean and Pacific Group of states explain the 11th EDF opportunities to Malawi
LILONGWE-(MaraviPost)-In its continued quest of corporate social responsibility drive in the education sector, this time on tertiary, the country’s main fuel carrier, Petroleum Importation Limited (PIL) has again pumped in MK100 million (US$290,000) for the construction of the multipurpose hall at Lilongwe University of Agriculture and Natural Resources (Luanar).
The cash donation is expected to improve the overall Luanar?s operation upon completion of the dreamed and ambitious multipurpose hall. Continue reading Petroleum Importers Limited excites Luanar with MK100 million donation for multipurpose hall
LILONGWE-(MaraviPost) –Top government civil servants and politicians including Speaker of National Assembly, Richard Msowoya, former vice President Khumbo Kachali, Chief of Staff and operation at State house Peter Mukhito and Foreign Minister Francis Kasaila are among beneficiaries in the infamous tractor gate, Maravi Post has learnt.
In a 46 paged Office of the Ombudsman’s (OoO) report titled “The Present toiling, the future overburdened”, which is in our possession after it was released a week ago gives account on how the whole deal flopped and became a pray to politicians and civil servants. Continue reading Tractorgate Exclusive: Speaker Msowoya, Kasaila, Kachali, Mukhitho benefited
Malawians should expect more economic tough times ahead warn economists as the prices of goods are expected to go up following the latest move by the Malawi Energy Regulatory Authority (MERA) to hike fuel prices.
According to the document dated 3 November, 2016 and signed by MERA board chairman Rev Joseph Vumbwe, petrol has risen by 4.62 percent while diesel and paraffin have both risen by 6.38 percent. Continue reading Malawi hikes fuel prices; Predictable tough economic times ahead
K5million grand prize still up for grab
Malawi’s integrated mobile network and ICT service provider TNM has conducted the first monthly draw of its ongoing “Za Bhoo” promotion which aims to reward customers with different exciting prizes. Continue reading TNM in first draw of “Za Bhoo” promotion as Mzuzu based bus conductor wins upright fridge
As part of Mother’s Day celebrations, Malawi’s premier mobile network and ICT service provider TNM its proudly announces the donation of medical equipment worth K6 million to Mangamba health centre in Machinga. Continue reading TNM Mpamba celebrates Mother’s day in style; donates K6 million medical equipment to Mangamba Health Centre in Machinga
LILONGWE-(MaraviPost)-In its quest to excite both existing and prospective customers, New Finance Bank (NFB) has launched the much awaited ATM and internet banking facilities.
The facilities aim at providing cost-effective, customer-driven, market-focused and relevant product along with 24/7 accessible and interoperable delivery channels.
The bank’s launch of these facilities comes against the background of other products targetting individuals, Small and Medium Enterprises (SMEs) as well as corporates which the bank is already offering .
These products include savings to current accounts, term deposits, personal loans, SMEs and corporate loans, overdraft facilities, trade finance, accounts for denominated foreign currency, students and senior citizens accounts, salary processing, swift, electronic funds transfers, clearing and settlement services.
Gilford Kadzakumanja, NFB’s Deputy Chief Executive Officer told The Maravi Post in the capital Lilongwe that the bank is poised to take a leading role in driving excellence through the provision of quality and innovative services.
Kadzakumanja assured customers of quality and innovative banking services including ATMs offering which will accommodate balance enquiry, cash withdraw of up to MK200, 000 per day and fund transfer among others.
He therefore pledged to provide relationship banking based on integrity and convenience by anticipating pro actively responding to the bank’s customers needs.
“As technology is fast becoming an indispensable element of our lives and also as a player in the banking sector, we will leave no stone unturned to provide technologically-driven additions to our range of products and services.
“NFB remains committed to empowering the people of Malawi through the provision of affordable, accessible and convenient banking services requirements”, said Kadzakumanja.
LILONGWE-(MaraviPost)—Minster of Industry, Trade and Tourism, who also spent some good years with the privatized Malawi Savings Bank (MSB) as Chief Executive Director, Joseph Mwanamveka, has taken a swipe at the country’s commercial banks for charging high interest lending rates.
Mwanamveka, speaking during a press conference aimed at updating the nation on the incoming Malawi Investment Forum said the high interest lending rates are impeding investment in Malawi.
“This is a very serious matter sometimes one can just borrow K1Million but because the system on how these banks calculate the their interest rates is also very archaic, to the effect that out of K1 million borrowed a customer can pay back almost K50 million,” said Mwanamveka
Mwanamveka gave example of a number of properties being sold on auction and advertised in newspapers by the banks.
“This is a clear indication that indeed banks are not helping Malawians, apart from en slaving and impoverishing them,” he said.
The country’s financial institution lending rates is pegged at 40% which most small scale business are finding it difficult to cope up with.
In an attempt to address the high interest lending rates, early this year Reserve Bank of Malawi (RBM) issued a warning statement to commercial banks to think of lowering down the rates but the presser was withdrawn due to lack of legal backing.
However, Mwanamveka said the government is not lying idle on the matter.
“We were failing to discipline these banks because we were lacking legal backing, for example in Kenya interests rates are below 14 percent because they are charged according to the law while in Malawi we can be challenged on that one, so that is why as government we are now reviewing financial Services act where the issues like high interest rates will be controlled,” said Mwanamveka.
The minister also disclosed that the incoming Malawi Investment Forum (MIF) which is slated for October 10-11 in the capital Lilongwe, under the theme “Smart Partnership for Private sector-led industrialization” has attracted over 600 delegates both local and international.
The ministry of trade in conjunction with The Malawi Investment and Trade Centre (MITC) is hosting MIF for the second time after successfully held the same event in 2015.
“We are hosting the second MIF while our banking rates aren’t conducive for investors to put their money on projects. Government is doing all it can to contain the situation. We will utilize the forum by taping practical skills how others countries are faring on the same.
“Apart from that, my ministry has already drafted Financial Service Bill which will empower the central bank to contain the high charges on banks’ lending rates”, assured Trade Minister Joseph Mwanamveka.
Mwanamveka hinted that MIF aims at marketing the country to outside the world despite numerous challenges the nation was facing saying its fruits will be seen in future.
The minister guaranteed the nation that government will sign Memorandum of Understanding (MOU) with investors that decide to bankroll in public projects in a bid to contain their commitments.
Countries participating in this year’s forum include Botswana, Canada, China, Finland, India, Ireland, Italy, Kenya, Luxembourg, Mozambique, Namibia, Nigeria, Norway, Sierra Leon, Singapore, South Africa, Spain, Tanzania, United Arab Emirates, United Kingdom (UK), USA, and Zimbabwe among others.
This year’s MIF comes barely three months after MITC hosted The Malawi-China business forum which managed to rope in 11 Chinese companies who have shown interest to invest in the country in various projects.
Malawi Investment and Trade Centre (MITC), a merger of the Malawi Investment Promotion Agency (MIPA) and Malawi Export Promotion Council (MEPC) was incorporated under the Companies Act and became operational on October 1st, 2011.
MITC is geared towards promoting production (investment promotion) and marketing (export promotion) of Malawi’s goods and services including participate in trade fairs, facilitate investment process for potential investors, industrial assessment, counseling of investors and exporters.
In keeping with its promise to assist vulnerable groups to be self-reliant, Malawi’s integrated mobile network and ICT service provider TNM was on Wednesday proud to unveil the Hope for the Blind 2016/17 Academic Year Scholarship Program worth K2.8 million for 17 students with visual and hearing disabilities. Continue reading TNM unveils 2016/17 scholarships for blind students; Channels K2.8m through Hope for the Blind
