Four lucky winners are expected to walk home with K1.5 million each while 10 others will walk away with K300,000 each following the closure of National Bank of Malawi (NBM) Plc ‘Popanda Chifukwa’ Promotion on Thursday.

 During the promotion period, hundreds of customers and non-customers have won  various monthly and instant prizes.

The ‘Popanda Chifukwa’ promotion was launched in December last year aimed at promoting the use of NBM Plc’s digital platforms such as Mo626 Pay (MoPay), and POS machines to pay for goods and services.

The Bank is set to hold the grand draw of the promotion in early May. This draw will see four lucky winners share K6 million in cash prizes with each being K1.5 million richer while 10 others will get K300,000 each.

NBM Plc Marketing and Corporate Affairs Manager, Akossa Hiwa said the promotion not only helped the Bank create traction on MoPay and POS usage, it has also provided a platform for continued direct engagement with audiences in Malawi’s four regions.

“The NBM plc team engaged with both customers and merchants during ‘Popanda Chifukwa’ activations in Blantyre, Lilongwe, Mzuzu, Mangochi and Zomba, resulting in the provision of valuable feedback, increased uptake in both merchants and customers and, most importantly, an opportunity to form personal bonds with our targeted stakeholders,” said Hiwa.

She added that all of the ‘Popanda Chifukwa’ promotion draws have been held in ‘the market’ and not ‘in the boardroom’ and that the Bank is set to conduct the final draw.

One of the lucky customers, who won K150,000 in the February monthly draw, Rennery Dzama commended NBM Plc for the promotion.

“Since Covid-19 time, I use my card or transact using NBM’s digital platforms. To me, it is normal using the platforms, until one Friday I got an alert of the ‘Popanda Chifukwa’ cashback of K150,000. It felt so good as it was a real surprise. I instantly went to town to shop for goods ‘popanda chifukwa’,” she narrated.

Apart from the grand draw winners, so far, the promotion has seen nine people winning K150,000 cash each, while 120 others got 50% cashback up to the maximum of K75,000.

Ninety other lucky customers and top five merchants during each monthly draw took home gift packs with NBM Plc branded novelties. The total amount of the promotion hit K60.8 million.

…Introduces Sim Swap Exemption Feature on Mpamba

TNM Plc, Malawi’s pioneering mobile network and ICT services provider has unveiled a Sim swap security initiative which is designed to protect customers from mobile money fraud.

The new measure gives TNM customers the ability to permanently opt their numbers from being swapped at agent points.

Head of Brand and Marketing Madalitso Jonazi said that the initiative is significant as it enhances customer security in the drive for financial inclusion and growth of the digital money economy.

“At TNM we are glad to see a remarkable increase in the usage of our Mpamba mobile money platform. Millions of customers are using Mpamba, therefore, we have enhanced features to ensure that customers are well secured on the platform. This is a positive development in the drive for financial inclusion in the country,” he said.

Jonazi said digital money fraudsters have been a stumbling block in the growth of mobile money usage.

He further said that fraudsters tactically swap numbers and get access to people’s digital money platforms and steal funds.

“Despite our investment in various digital finance technologies, we are still facing a digital money fraud challenge. Therefore, we believe the new feature will alleviate the challenge that our customers face,” said Jonazi.

TNM customer can access the transformative feature through USSD code and TNM Smart App.

“To access the feature, our customers need to dial *7777# and follow the instructions to exempt their sim cards from being swapped and safeguard their numbers permanently from any exploitation. The innovative service is also available on the TNM Smart App,” said Jonazi.

TNM has made an assurance of more innovations around Mpamba platform to maximize security of customers and motivate the usage of digital transactions.

FDH Bank and the Malawi University of Business and Applied Sciences( Mubas) have signed a long-term Memorandum of Understanding (MoU) that will see the Bank supporting final year students with business start-ups.

FDH Bank, in 2021, initiated a business entrepreneurship concept dubbed ‘Graduate Start-ups’ targeting Mubas final year students to finance their entrepreneurial ideas and concepts.

The Bank and Mubas officials signed the MoU on Tuesday in Blantyre, where the Graduate Start-ups program will set up a Trust Fund for the sustainability of the program.

In her presentation to the final year students, FDH Bank Senior Manager for Strategy Potamira Kumpumula took them on the processes that could qualify them for financing which include forming groups of like-minded individuals of four to seven to develop innovative and viable business plans that solves real economic problems by also identifying viable marketing opportunities.

After developing the innovative ideas and business plans, the graduates are to present the plans to a special taskforce consisting of  FDH Bank and MUBAS financial experts which will scrutinize them and offer guidance where loopholes are identified, according to Kumpumula.

“Once the business concept is approved, the bank will guide the beneficiary groups through a financial mentorship programme before being granted the loan at subsidized 5% interest, with a one-year repayment holiday.”

“The loan shall not be deposited into the beneficiaries’ bank accounts but FDH Bank shall be paying for costs of the assets and other needs directly to suppliers up until their businesses become self-sustaining,” said Kumpumula.

FDH Bank Deputy Managing Director George Chitera who championed the program back in 2021, impressed on the final year students to think outside the box and not to just expect to be employed because the employment opportunities are shrinking.

“Malawi is poor because we do not produce, we need to change our mindset and start producing because as long as we are not exporting, we shall remain poor. We should not rely on the government to produce goods for exports, it is up to us as citizens to be innovative by creating companies that produce and at the same time create jobs.”

“All these corporate companies we have were born out of the entrepreneurship concept. It is not easy to create a business plan but every challenge has got a solution,” said Chitera.

In her remarks, MUBAS Vice-Chancellor, Nancy Chitera described the program as unique and in line with the MW2063 national vision of Inclusively Wealthy and Self-Reliant Nation as it calls for a shift in focus on entrepreneurship.

“Our partnership with FDH Bank is growing into something very economically huge that involves young minds to be part of the process enshrined in the MW2063 vision. We must utilize all opportunities by solving any challenges that can be met. Mindset change is not just dreaming of getting a job but to become an employer,” said Chitera.

Five business ideas were identified as viable and were taken up for further mentorship and assessment which led to one business, Rise and Shine Primary School in Mulanje to be successfully launched in 2022 with the help of the Bank.

National Bank of Malawi (NBM) plc ladies at the weekend donated various items worth approximately MK6.5 million to families that were affected by floods at Dwangwa in Nkhotakota last month.

Speaking when they handed over the items at Dwangwa camp, one of the NBM plc Ladies and Coordinator of the Initiative Enala Chirwa said the ladies within NBM Plc were touched by reports and documentaries on the catastrophes that befell the people of Dwangwa and decided to collaborate and do something to help. 

“Through this initiative, ladies working with NBM Plc contributed and purchased items worth approximately K6.5 million. Among other items, we have procured family packs. In each pack, there is 10kg flour, 2kgs rice, 2kgs beans, 2kgs Sugar, 1Kg Salt, tea leaves and  some soap tablets,” said Chirwa.

One of the beneficiaries, 66-year-old Sydney Jekabu from Mbuna 2 Village commended NBM Plc ladies for the assistance saying they lost everything and the donated items will sustain them for some days as they also seek to recover from the disaster.

“I was heavily affected; I lost a house and all my belongings including foodstuffs yet I have seven children who still depend on me. It is by God’s grace that the floods came in the morning, otherwise if it was night, we could have lost a lot of people. We can now afford to eat courtesy of NBM Plc ladies,” said Jekabu.  

The camp chairperson Emmanuel Chisale said the items  NBM Plc ladies have donated will benefit 200 families that lost everything and were moved to Dwangwa Primary School camp.

Director of Human Resource and Administration at Nkhotakota District Council, Victor Chithabwa also thanked NBM Plc ladies for the donation.

“This is a welcome development. As you know, these floods greatly hit us, leading to the displacement of our sisters and brothers who also lost their property. So, this support is timely,” said Chithabwa.

Apart from the family packs, NBM Plc ladies also donated bags of maize, bags of flour, buckets, and clothes.

NBS Bank Plc has lauded the accomplishments of 34 of its employees who have recently completed a three-month training program with the Retail Banking Institute (Lafferty), a prestigious UK-based certification body.

The bank announced that 29 of these dedicated individuals achieved Level 1 certification, while five distinguished themselves by completing the more advanced Level 3 certification.

NBS Bank Chief Retail Officer Victoria Chanza said the retail certification program is designed to deepen understanding of credit risk, leadership, brand management, asset and liability committee (ALCO), operations, and digital retail banking.

During the event set to celebrate the achievements on Friday, Chanza praised the graduates for their dedication and hard work adding that the initiative underscores NBS Bank’s commitment to enhancing the expertise and capabilities of its workforce, aligning with international standards in retail banking excellence.

“This program is not just about acquiring knowledge; it is about shaping the future of retail banking. Our graduates, with their exceptional commitment and potential, exemplify the best of what it means to lead in this rapidly evolving sector,” said Chanza.

Chanza then underscored to the graduates the importance of empathy, customer service, and community engagement in the banking industry.

One of the graduates, Gracious Changaya who is NBS Bank Southern Cluster Manager said they are expected to bring fresh perspectives and innovative solutions to their roles, reinforcing NBS Bank Plc’s vision for retail excellence in the banking sector.

“We will ensure we make use of the knowledge required, and probably share the knowledge with some of our colleagues,” he said.

NBS Bank Plc partnered with the Retail Banking Institute (Lafferty) to underscore its investment in employee development and its commitment to maintaining the highest standards of professional excellence.

FDH Bank Plc has earmarked about 150 local small and medium enterprises (SMEs) to benefit from the US$10 million Africa Trade Exchange (ATEX) export trade facility.

The deal, which is the fruit of the agreement sealed by FDH Bank Plc and African Export and Import Bank (Afrixembank) signed in November last year during the Third Intra-African Trade Fairs in Cairo, will see local traders exporting their goods to African and Caribbean markets.

FDH Bank Plc Managing Director, Noel Mkulichi addressing traders and others during a breakfast engagement in Blantyre on Tuesday, said the Bank values the relationship it has with the local traders hence the need to offer the opportunity to connect them with local and international importers and exporters, fostering valuable relationships and paving the way for fruitful partnerships.

“Our sponsorship to ATEX will ensure a lot of benefits like access to the platform’s verified suppliers and buyers and discovering different products from all over Africa including supplier and buyer verification and matching.”

“You will have access to a trusted platform that offers access to competitive rates due to economies of scale reached through consolidated negotiations with sellers and services providers. There is also access to real time information on pricing, product data and seasonality, access to simplified quota information and management with clear guidelines for importers and exporters, and also preferential access to foreign currency products through the ATEX foreign currency facility,” said Mkulichi.

Mkulichi further said as a Bank that champions growth, they look at this as a great avenue for growth for the traders’ businesses and the country at large.

“The Malawi 2063 aims to transform Malawi into a wealthy and self-reliant industrialized upper-middle-income country by year 2063. We believe with these strides and continuous innovation, we can achieve this goal,” he said.

Afrixembank Senior Manager responsible for Digital Marketing Solutions, Annerose Ngemu said the platform aims at activating a lot of economic activities.

MBL Holdings Limited Managing Director, Leston Mulli commended FDH Bank Plc saying the platform offers a great opportunity for local traders to be exposed to international markets.

ATEX is a platform connected within the digital ecosystem, supporting the implementation of the African Continental Free Trade Area (AfCFTA) Agreement.

It is also supported through the Intra African Trade Fair (IATF) with the next one taking place in Algeria in 2025.

…..pays K48 billion in taxes

National Bank of Malawi (NBM) plc has posted an impressive K71.96 billion profit after tax for the financial year ending 31 December 2023, representing a 56.62% profit jump.

In a statement dated 28 February and signed by the Bank’s Board Chairperson Jimmy Lipunga, Director Dorothy Ngwira, Chief Executive Officer Macfussy Kawawa and Chief Finance Officer Masauko Katsala, the Bank attributed the remarkable results to growth in customer deposits.

“The Group registered a profit after tax of K71.96b representing a 56.62% increase from K45.9b reported in 2022. These results were largely driven by growth in customer deposits which resulted in increases in the loan book and fixed income securities.”

“Consequently, Net interest and investment income grew by 33%. In addition, there was a 86% increase in Other Income mainly arising from growth in foreign exchange commissions by (99%) from K12.8b to K25.5b. Overall net revenue grew by 50%. Operating expenses increased by 25%, within the average inflation for the year. On the other hand, net impairment losses continue to increase, reflecting the realities of the tough operating environment,” reads the statement in part.

Customer deposits increased by 20% (2022: 45%) year on year while the Bank’s loan book grew by 31% (2022: 29%). Investment in Fixed Income securities grew by 10% (2022:16%), according to the statement.

The statement also shows that the group made a profit before tax of K120.13 billion and paid a total of K48.17 billion in taxes.

“All the subsidiaries of the Bank posted profits that contributed positively to the Group performance except for Akiba Commercial Bank (ACB) in Tanzania and an associate company, United General Insurance which posted losses.”

“Positive trends continue to be registered in the two entities where the results improved significantly from the previous period. Consequently, the losses registered for Akiba Commercial Bank and UGI were much lower than those of the prior period,” reads the statement in part.

Commenting on the operating environment, the Malawi Stock Exchange (MSE) listed Bank said the Malawi economy grew by 1.5% in 2023 up from 1.1% the previous year and was adversely  affected by the prevailing high inflation as well as continued foreign exchange supply challenges.

“The average headline inflation accelerated from 26.1% in the first quarter to 31.5% in the last quarter. Similarly, interest rates were on the rise, with the Policy rate being raised from 18% in the first quarter to 24% in the second quarter of the year.”

“The Malawi kwacha devalued by 63% between January 2023 and December 2023. Despite the devaluation, foreign exchange supply challenges persisted. Generally, the operating environment was very challenging. Weather shocks and geo-political landscape also affected the operating environment,” reads the statement in part.

NBM plc forecasts that the economy is expected to grow by 3.2% in 2024 from 1.5% in 2023 supported by an increase in public investment and recovery in mining and quarrying, manufacturing, information and communication, financial and insurance activities, and education sectors.

“The resumption of the IMF-supported ECF program is expected to unlock foreign exchange inflows going into 2024, which will in turn support importation of raw materials and promote economic activity. The positive outlook is, however, clouded by El Niño-induced weather conditions, and a highly uncertain global economic and geopolitical environment. Inflation is likely to remain elevated in 2024,” reads the statement in part.

“The Board envisages a continuing challenging operating environment due to the factors enumerated above. This notwithstanding, the Bank is expected to sustain its enviable performance through its ability to leverage on its core strengths, address challenges and exploit opportunities in the market,” adds the statement.

The Bank Directors recommend a final dividend of K23b (2023: K15b) making a total dividend of K48.0b in respect of 2023 profits representing K104.94 per ordinary share (2022: K70.67 per share). The final dividend will be payable after approval by the Annual General Meeting scheduled for June 2024.

The Bank also said a second interim dividend of K14 billion will be paid in April 2024 having paid the first interim dividend of K11 billion in September 2023.

Blantyre, March 22, 2024–In a move to redefine the local football landscape, TNM Plc sponsors of Malawi’s topflight Super League is proud to announce the deployment of electronic ticketing (e-ticketing) for the TNM Super League.

The new solution will be available for the Sapitwa 4 tournament which involves Super League outfits Bangwe All-stars, Dedza Dynamos, FOMO and Mighty Tigers at Mulanje Park scheduled from 23 March to 24th March 2024.

This innovative step aims to enhance convenience, streamline access, elevate the overall matchday experience for supporters, and curb fraud around football arena.

According to TNM, E-ticketing marks a significant transition from traditional paper tickets to digital access, aligning with modern technological advancements and catering to the evolving preferences of football enthusiasts.

“With this initiative, fans will now have the flexibility to purchase, manage, and present their match tickets entirely through digital platforms, and eliminating the need for physical tickets,” said Madalitso Jonazi, TNM’s Head of Brand and Marketing.

The initiative underscores TNM’s commitment towards embracing innovation and leveraging technology to deliver supreme experiences to football enthusiasts in the country.

Jonazi indicated that football fanatics will have to purchase tickets to this year’s super league matches through Mpamba instead of buying with cash at stadium gates.

“As a proud Super League sponsor, TNM is thrilled to bring e-ticketing to our esteemed football fans, which is a pivotal moment in our ongoing efforts to enhance fan engagement and satisfaction.

All they need is a Mpamba account and a Khadi Mbambande debit card which they can buy on their phone and collect from any TNM shops across the country,” he said.

Jonazi emphasizes TNM’s commitment to curbing fraud, an issue hindering the growth of football industry, particularly during matches.

“The traditional practice of handling cash when purchasing physical tickets at entry points poses a lot of challenges for revenue collection such as theft of cash which leads to revenue loss and other associated problems. The e-ticketing is the most secure and convenient solution of handling football matches revenue as tickets will be bought through TNM’s digital platforms,” added Jonazi.

The initiative of e-ticketing also aligns with the Ministry of Youth and Sports and the Super League of Malawi (SULOM) ongoing efforts to address issues like cash theft and ticket duplication within the TNM Super League.

Apart from safeguarding of revenue, other advantages include real-time attendance tracking and prevention of fraudulent activities.

E-ticketing represents a paradigm shift in the evolution of football in Malawi, resonating with global standards of convenience and efficiency.

Standard Bank Plc has given this year’s Malawi Law Society Annual Conference underway in Mangochi a boost by contributing K5 million.

Head of Private Banking Joshua Banda said the contribution is in recognition of the important role legal minds play in strengthening governance across multiple sectors, thereby contributing to economic growth.

MLS Lilongwe Chapter Executive Committee Secretary Chanju Kondowe, who recieved the sponsorship thanked Standard Bank for the partnership.

This year’s AGM is under the Theme “Interrogating Malawi Electoral System Towards 2025 General Elections.”

Honourable Justice Dr Chifundo J. Kachale, Chairperson of the Malawi Electoral Commission, is the Guest of Honour.

NBS Bank Plc has given K2 million to the Malawi Law Society (MLS) for their Annual General Meeting (AGM) scheduled for this week in Mangochi.

Making a symbolic cheque presentation at NBS Bank’s Head office in Blantyre on Friday, the Bank’s Head of Legal Felister Dossi, said they felt the need to support the conference since they believe that the rule of law is fundamental to political stability and helps a country to achieve economic and social progress and development which is important for a business environment that the Bank is operating in.

“Malawi Law Society has been a partner for several years.  We are aware that this year’s AGM theme touches on electoral system and laws and as a Bank, we feel duty bound to contribute to MLS to help them achieve one of their strategic goals of safeguarding the rule of law,” said Dossi.

MLS Chief Executive Officer (CEO) Chrispin Ngunde said the support signifies the Bank’s commitment to promoting the rule of law, professionalism, integrity, and excellence.

“The Bank has been a partner for MLS for many years and the donation of K2 million further cements our collaboration. The theme for this year’s Conference and AGM is very relevant to the business of the Bank.”

“For the Bank’s business and any business to strive, it requires a stable business and political environment. Elections greatly contribute to creating this conducive environment. It is, therefore, pleasing to note that the Bank has taken a keen interest in elections and public interest through its support of MLS,” said Ngunde.

Ngunde added that MLS will continue to promote matters of public interest, rule of law, good governance, integrity, and professionalism by taking an active role, in among others, sharing thoughts on matters of national importance such as election matters

MLS will hold its AGM from March 21 to 24 under the theme ‘Interrogating the Malawi Electoral System Towards 2025 General Elections.’

Lilongwe, March 19, 2024–In a bid to boost diaspora remittances and foreign currency inflows into Malawi, Standard Bank Plc is proud to announce prizes worth more than K30 million for diaspora customers who remit U$2,000 back home through the Bank’s Bureau de Change (BDC).

Under the three-month Transfer and Win Diaspora promotion, Standard Bank has dangled a grand prize of a plot worth K20 Million back home and various cash prizes. The promotion is for all individuals who send money to Malawi from the diaspora and Malawians earning in foreign currency abroad with a need to send funds back home.

Announcing the incentives, The Executive Head of Personal and Private Banking (PPB) Charity Mughogho said the promotion recognizes the role of diaspora communities in the economic development of the country through foreign currency remittances.

“Malawi needs such remittances to boost our foreign currency reserves position, supply and circulation. At Standard Bank, we recognize the significance of our diaspora communities in contributing to economic development back home. The promotion is open to individuals living in the diaspora who have a Standard Bank Diaspora Account or any international bank account from their country of residence.

To enter the promotion a client needs to transfer a minimum of US$2,000 into a Malawi Kwacha account through Standard Bank BDC. This will give one entry into the monthly draw and subsequent grand draw.

Through our Diaspora Account, we aim to provide a tailored banking solution that caters specifically to the unique requirements of individuals living abroad,” said Mughogho. She said the promotion aims to empower individuals living outside the country with convenient banking solutions that enable them to seamlessly manage their finances and support their loved ones back home.

This promotion is open to the Bank’s Diaspora Account holders and any other international bank account from the sender’s country of residence. Funds once sent will be deposited directly into the Malawian bank account of the beneficiary.

Malawians residing abroad and who wish to open a Diaspora Account with Standard Bank can do so by simply clicking here to download and complete the application documents or through the e-mail diasporasupportcentre@standardbank.co.mw and the bank’s website.

The promotion will run from 11th March 2024 to 31st May 2024 and draws will be conducted at the end of each month. Monthly draws will see seven customers carting home K500, 000 each. Apart from the grand prize of a plot valued at K20 million, other consolation prizes include a solar system valued at Mk4,600,000 to the first runner up and the third winner will walk away with K1 million.

In a significant move aimed at promoting the use of digital banking among university students, NBS Bank Plc has unveiled the ‘Afana Oyaza’ campaign which targets university students across Malawi, encouraging them to utilize the bank’s digital services for their financial transactions, particularly for paying their tuition fees.

The campaign is open to students enrolled at the University of Malawi (UNIMA), Mzuzu University (MZUNI), Lilongwe University of Agriculture and Natural Resources (LUANAR), and Malawi College of Health Sciences (MCHS).

Participants who pay their fees using the bank’s Eazy Bank digital platforms are entered into a competition to win various awards, with the grand prize being a full year’s tuition covered by NBS Bank.

NBS Bank Chief Retail Officer Victoria Chanza, highlighted the bank’s commitment to enhancing educational access through digital banking solutions emphasizing on the convenience of paying fees via smartphones, the Eazy Wallet mobile wallet, and the Bank Pafupi agency banking platforms.

“As the ‘Caring Bank,’ we are devoted to the advancement of education. This campaign is part of our efforts to ensure students have seamless access to education through our digital channels,” said Chanza.

She said the promotion is not only about easing the fee payment process but also includes exciting prizes like laptops, smartphones, and NBS Bank-branded merchandise, such as t-shirts, pens, and wristbands.

“The ‘Afana Oyaza’ campaign represents a forward-thinking approach to integrating digital banking services within the educational sector, offering tangible benefits to students while fostering a digital-first mindset,” said Chanza.

Endorsing the initiative, Steve Omar, Entertainment Director at Mzuzu University, described ‘Afana Oyaza’ as a beneficial and welcome development for the student community.

“This campaign offers significant support to university students, and we hope for NBS Bank Plc’s continued involvement each semester to make a meaningful difference in students’ lives,” said Omar.

Standard Bank Plc, listed on the Malawi Stock Exchange will today outline its 2023 performance to shareholders and other stakeholders after posting a K52.5 billion net profit, which one of the country’s financial analysts has described as “impressive”.

Reacting to the bank’s results, Lilongwe-based independent economist and transformational finance leader Thomson Nelson Kumwenda said they reflect impressive cost efficiencies, and Standard Bank’s deep understanding of risk management in respect to dealing with government securities.

“I see a very solid understanding and application of IFRS 9 by their Finance team. With expected credit losses heightened by 112%, year on year, they must have been prudent enough to have widened ECL coverage on lending to government and the probability of default and loss…” he said.

Kumwenda noted that Standard Bank has been prudent enough in its reporting and assumptions, considering that both World Bank and International Monetary Fund (IMF) have in recent years classified Malawi’s debt as unsustainable and carrying sovereign risk.

“Any internationally present bank will factor in the Debt Sustainability Analysis (DSA) into their PD [Probability of Default] and LGD [Loss Given Default] assumptions and apply appropriate hair-cuts on the government portfolio EAD [Exposure at Default],” he said.

This means the analyst is applauding Standard Bank for exercising prudence, and caution in its exposure to government borrowing, in view of the country’s DSA by World Bank and IMF.

Chief Executive Phillip Madinga and Chief Financial Officer John Mhone are expected to lead the bank’s country leadership committee in explaining the latest results during an investor conference scheduled from 9:30 am from the Bingu International Conference Centre (BICC) in Lilongwe.

The event will be hosted in hybrid format, with some key stakeholders joining virtually.

In its financial reports for the year ended December 31, 2023, Standard Bank said earnings from interest and other revenues drove net profit to MK52.5 billion, an increase by 34 percent over 2022.

“Net interest revenue grew 57% year on year driven by growth in both net interest income and non-interest revenue,” reads in part the report, co-signed by Madinga, Chairman of Board Chris Kapanga, and other directors of the bank’s board.

NBS Bank Plc has doubled this year’s Charity Shield football sponsorship package from K20 million to K40 million.

Announcing the good news at a press briefing on Tuesday, the Bank’s Chief Executive Officer (CEO), Kwanele Ngwenya said NBS Bank Plc decided to hike the package after being impressed with how the tournament has been run and its impact since they started sponsoring it in 2022. 

“This year, we are elevating our commitment to the zenith of possibility with a sponsorship of K40 million. We are championing the cause of education, the bedrock of sustainable development and the cornerstone of Malawi’s vision. Education empowers, enlightens, and emancipates.”

“The NBS Bank Charity Shield is more than a competition; it is a manifestation of our shared values, our hopes for a brighter future, and our commitment to the holistic development of Malawi. As we embark on this year’s journey, let us be reminded of the power of partnership, the impact of investment in our communities, and the transformative potential of sports and education combined,” said Ngwenya.

Ngwenya also announced that the Bank will bankroll the Charity Shield for the next three years, with this year’s proceeds going toward construction of sanitary facilities in selected schools in the Central Region. 

Football Association of Malawi (FAM) represented by General Secretary Alfred Gunda thanked NBS Bank Plc for the kind gesture.

 “We are very excited that NBS Bank has taken us to another level with the charity shield sponsorship pushing us to K40 million.” 

“Apart from the charity events and entertainment, football offers employment to a lot of people ranging from the players, coaches, referees and others,” he said.

Gunda also commended NBS Bank Plc for committing towards the cause in the next three years. 

“We have always had yearly sponsorships for the competition, and now this news gives us hope as we now know we have a sponsor for the next few years,” he added. 

TNM Super League champions FCB Nyasa Bullets and runners-up Silver Strikers are set to battle for the Charity honours at Bingu National Stadium (BNS) in Lilongwe on March 30. 

Last year, the NBS Charity Shield match between Bullets and Mighty Mukuru Wanderers raised over K20 million which was channeled towards the victims of the Cyclone Freddy which hit most parts of the Southern Region districts. 

In 2022, NBS Bank Plc sponsored the Charity Shield with K15 million and the proceeds went to Cyclone Ana victims in Nsanje district. 

Minister of Finance and Economic Affairs Simplex Chithyola Banda has hailed FDH Bank for establishing a banking centre on Likoma Island.

FDH Bank Plc has become the first bank to open a fully-fledged service centre on Likoma Island, a district that has always faced financial accessibility challenges.

“There will be local economic development as the Bank will support the growth of small businesses by enabling entrepreneurs to establish and expand their enterprises,” said the Finance Minister during the colourful opening ceremony on Monday.

In his remarks, FDH Board Chairperson Charity Mseka said financial inclusion is recognized as a main pillar of the global development agenda, as such opening the service centre is an important milestone for the Bank and the people of Likoma.

“Worldwide, 2.5 billion adults still lack access to basic financial services. Closing this gap is vital to ending extreme poverty and boosting shared prosperity.”

“The World Bank Group has set a target for Universal Financial Access (UFA) that ensures that adults everywhere have access to a transaction account to store money, and send and receive payments,” said Mseka.

The Bank’s Managing Director Noel Mkulichi added that the decision to open a Service Centre on the Island is informed by FDH Bank’s new strategy and plans that aim to provide easy access to financial solutions that enable communities to grow.

“This FDH Bank Plc Service Centre aims to break financial barriers for the people of Likoma. It was initially shocking to hear of the financial accessibility challenges that the people at Likoma face.”

“Civil servants had to contribute transport and accommodation for one person to travel to Nkhata Bay with ATM cards of the entire group to withdraw money. This was a huge risk and an inconvenience,” said Mkulichi. 

He further noted that the absence of the banking facilities on the Island resulted in the closure of offices and businesses for some days as people had to travel to the mainland, which led to the loss of productive time. 

“Tourists sometimes cut short their stay on this beautiful Island once they run out of money, and this is a lost opportunity for the country. These stories and many more are depressing! This is what the people of Likoma have been going through since time immemorial,” added Mkulichi.

The opening of Likoma Service Centre means FDH Bank is available in all the districts in the country. 

During the function, the Bank  donated  K3 millionto Likoma District Hospital towards procurement of linen for the women’s ward, and K2 millionto Likoma Secondary School towards procurement of mattresses for students as part of their corporate social responsibility. 

NBS Bank Plc Deputy Chief Executive Officer (DCEO) Temwani Simwaka’s commitment towards girl’s mentorship earned her an award as one of the inspiring leaders during this year’s Wealth Woman Summit held in Lilongwe.

The Bank runs a mentorship program where some of its female managers mentor girls under the mentorship program.

Wealth Magazine Managing Executive and CEO of Malawi Roundtable, Harry Chima, whose organization organized the event, said Simwaka was recognized for her consistency in championing the girl-child initiatives.

“Besides the other criterion, she has been a consistent and inclusive leader in as far as mentoring the girl child including resourcing for those economically challenged with re-usable pads is concerned,” he said.

In her remarks, Simwaka said the award will help push her effort in mentoring the girl child in the country.

“I am honored to receive this award and for my efforts about girl child inclusion to be recognized. As we continue commemorating International Women’s month, I implore all Malawians to continue celebrating women for their contributions and achievements in society,” said Simwaka.

The event brought together Malawi’s phenomenal corporate and community leaders, super achievers, the legendary and students with varying experiences in different fields.

National Bank of Malawi (NBM) Plc says it has made strides in empowering women to grow professionally and financially in the country.

One of the Bank’s Directors, Bernadette Malunga, said in an interview ahead of the International Women’s Day (IWD) commemoration, which falls on 8 March (today), that promoting women in leadership positions and building their capacity is one of the Bank’s priorities.

“If they want to improve their education, we provide training opportunities so that they can further their studies, which in the long run may push them to acquire leadership positions within the company.”

“The Bank has several initiatives to promote women’s leadership. We try to ensure  that each department has equal representation of both men and women. Further to this, females who are seen to be lagging behind are allowed to further their education ,” said Malunga.

This year’s IWD is being celebrated under the theme ‘Inspire Inclusion’ and is meant to emphasize the importance of diversity and empowerment in all aspects of society.

Malunga further said through a social media campaign termed ‘Inspiring Inclusion’, NBM plc seeks to celebrate strides made by female employees at different levels, female members of its Board of Directors and female customers.

“The Bank hopes that this will serve to encourage other women to keep striving for greatness in all their endeavors,” said Malunga.

One of NBM Plc’s employees Hlupikire Phalira, an accounts officer, also shared the progress made on her career path since she joined the Bank.  

“At National Bank Plc, we have policies that promote equal opportunities for both men and women. When I joined the Bank, I only had a Diploma in Accounting but because of the Bank’s policies I got a degree from the University of Malawi, furthermore, I am studying to become a chartered accountant with the ACCA,” said Phalira.

Apart from empowering female employees, NBM Plc also has female customers at heart as they offer tailor-made services to support women entrepreneurs.

Owner of Mikos and Milkshake Dessert Parlor, Chisomo Munthali said she managed to access a loan that helped boost her business.

“I can confidently say that National Bank of Malawi Plc has been a very positive support in my journey and my dreams. Back in 2021, I needed financing and I approached my Bank with all hopes that they would find something to help me, and truly I was included in the ‘Amai Angathe’ program. I managed to access financing to help boost my business,” she said.

National Bank of Malawi (NBM) Plc has contributed K2.5 million towards this year’s Wealth Woman Summit slated for Friday and Saturday in Lilongwe.

Speaking after presenting the Cheque to the Summit organisers on Wednesday, NBM Plc’s Marketing and Corporate Affairs Manager, Akossa Hiwa said the Bank considered partnering with Wealth Magazine as it commits to fostering female representation in leadership positions and providing equal opportunities for career growth.

“Critically, this summit, organized by Wealth Magazine, serves as a platform to champion the cause of diversity, challenge stereotypes, and create opportunities for women from diverse backgrounds to thrive.”

“Currently, 41 percent of our total staff members are female, and 28 percent of our managers are female. National Bank of Malawi plc will sponsor this Summit with a contribution of  K2.5 million, demonstrating our commitment to supporting initiatives that promote diversity and inclusion,” said Hiwa.

CEO Africa Roundtable Malawi Chapter and Board Member, George Damson thanked the Bank for supporting the fourth edition of the summit celebrated under the theme ‘Inspiring Inclusion’.

“We are very thankful that the National Bank recognizes that inclusion is a very important aspect in today’s world. Organizing this summit is our way of making sure that we bring to the fore the issue of inclusion,” said Damson.

Organized by CEO Africa Round Table Malawi Chapter, the summit fosters an inclusive environment where everyone feels valued and empowered to contribute their unique perspectives and talents to society.

Air Cargo Malawi (ACM) has handed over medical equipment worth K3 million to Chileka Health Centre maternity wing as part of their Corporate Social Responsibility (CSR) initiative commitment.  

Air Cargo Malawi’s Director of Operations, Arnold Chimwenje said the company thought it necessary to donate to the community they work in, as a way of making a positive economic and health impact.   

“We felt it necessary that we contribute to the nearby surroundings so that we can make a significant impact in the community that we are serving. That is why we chose Chileka Health Centre.  We have donated a maternity bed, a post-natal bed, and four leather-covered mattresses. This is not just a transaction; it symbolizes a collaboration between ACM and the healthcare community.”

“ACM as a key player in the air freight industry, is committed to impacting communities positively. This initiative resonates with one of the objectives of the Malawi Health Sector Strategic Plan II (2017-2022) of improving the availability and quality of health infrastructure and medical equipment,” said Chimwenje.

Chileka Health Centre Deputy Nurse-in-Charge, Maria Dzimbiri thanked ACM for the donation which she said will go a long way in giving comfort to expectant mothers.

“We didn’t have these kinds of beds; we were just improvising the normal beds. The coming in of these beds will tremendously improve our services,” said Dzimbiri.

She then asked other corporate entities to help in renovating a ceiling that is in bad shape and donate weighing scales and blood pressure monitors among other needed items.

Village Head Singano also commended ACM for the donation which she said will also help other villages in Traditional Authority Kuntaja’s area.

“Not only people in my area are excited, but other village heads surrounding this area are also happy with this donation,” she said.

ACM plans to donate to Lumbadzi Health Centre which is near Kamuzu International Airport in Lilongwe later this month.

National Bank of Malawi (NBM) plc over the weekend, continued to splash various prizes to 78 customers in the ‘Popanda Chifukwa POS/MoPay’ promotion currently running.

The Bank conducted its second monthly draw at Mzuzu Shoprite Mall on Saturday, where hundreds of customers also had a chance to win instant prizes after purchasing goods using the NBM’s debit cards, Mo626 Pay, and Point-of-Sale machines.

NBM Cards Acquiring and Merchant Services Manager, David Tamula expressed satisfaction with the support and loyalty they are getting for customers who are prioritizing their digital platforms.

“The Government is having an initiative where we have to make this a cashless society. There are so many benefits out of it, we don’t have to walk around with cash, it is far more efficient. So, we are trying to assist the Government in that endeavor as a very good corporate citizen. We are seeing that customers are embracing it. It is much easier for customers to conduct their transactions as they don’t have to queue twice, but just go where we have our POS and make their payment,” said Tamula.

One of the customers who won an instant prize, Serah Moyo commended NBM plc for the initiative saying it is now safe to pay for goods without carrying hard cash.

“This is great, and I urge more customers to embrace the technology. Otherwise, I am happy to be among the lucky ones today,” she said.

Out of the 78 lucky ones on the day, three people cart home K150, 000 cash reward, while 30 others won a 50% refund on their transactions capped at a maximum expenditure of K75, 000.Thirty more customers won gift packs.

The promotion which started in December 2023 and will run up to April 2024.

NBS Bank Plc has handed over maize flour worth K3.5 million to hunger-affected individuals in Chiradzulu district.

The donation targeted orphans, the elderly, and the physically disadvantaged in the area of Traditional Authority (T/A) Mpunga in the Southern Region district on Sunday.

The Bank’s Acting Head of Marketing and Customer Experience, James Chikaonda said this is not the first time NBS Bank has donated to the area and will continue to help when the need arises.

“Bearing in mind that we are a ‘Caring Bank’, we thought it wise to come in to assist our fellow Malawians. We are targeting to reach 150 beneficiaries from this area in their time of need,” said Chikaonda.

In her remarks, T/A Mpunga thanked NBS Bank for the timely donation to the vulnerable groups in her area.

“Last year we were affected by Cyclone Freddy, and this year, there is no rain. The people in my area are sleeping on an empty stomach,” she said.

One of the beneficiaries Philes Binet of Kuchombe Village also joined T/A Mpunga in commending the Bank for coming to their rescue.

“We thank NBS Bank for this donation and we hope they will always come to our rescue,” said Binet.

Member of Parliament for the area, Joseph Mwanamvekha also echoed the sentiments by appreciating the Bank’s kind gesture.

“I am pleased to see that today they have come to distribute flour, mainly to the elderly, physically challenged, and orphans. You can see that most of the beneficiaries are quite happy that at least for today and a few days they will be able to eat.”

“It is a very worrying situation now, I am sure you have seen that most of the maize is drying up, and yet it has not matured. In my area, T/As Mpunga, Nkalo, and Maoni may not harvest enough to feed the people,” said Mwanamvekha.

 NBS Bank also assisted the Mpunga Community during Cyclone Freddy disaster last year. 

Malawi’s premier automotive event, the Lilongwe Motor Show returns for its fourth edition in June this year, organisers have confirmed.

The much awaited Motor Show will once again bring together a diverse range of exhibitions from across the country.

A press statement signed by Lilongwe Motor Show Ltd Chief Executive Officer (CEO) Alinane Andrew Njolomole says the event will take place on June 1 at t the BICC Malawi Square.

Building on the success of its previous editions, this year’s show is set to be a grand celebration of automobiles, featuring exhibitions, demonstrations, spins, raffles, and family entertainment.

“As we celebrate the fourth edition of the Lilongwe Motor Show, we invite car enthusiasts, industry professionals, and families to join us for a day of excitement, discovery, and automotive passion,” reads the statement in part.

For Sponsorship, Bookings and media inquiries, or additional information, please contact: Alinane Andrew Njolomole (C.E.O) on +265 999 794 078.

The show is a corporate event aimed at meeting marketing needs for participating brands whilst positioning their brand statements to a unique demographic of corporate, entrepreneurs and contractors.

Standard Bank Plc has increased its joint merit scholarship fund with Press Trust to K220 Million in line with the bank’s commitment to support education as catalyst for sustainable economic development.

Launching the four-year fund at Loyola Jesuits Secondary School in Kasungu, Chief Executive Phillip Madinga said the decision underlines the bank’s belief that empowering the youth, who make up majority of the country’s total population, holds key to achieving Malawi’s long-term development and prosperity goals.

“At Standard Bank, we strongly believe that empowering the youth by investing in their education and vocational skills, will unleash the next economic growth frontier for Malawi, while supporting the nation’s development goals,” he said.

Madinga said the bank resolved to renew its funding towards the scholarship after being encouraged by positive outcomes of the first phase which produced a 100 percent pass rate for MSCE with 75% of the students scoring points less than 20 points.

 He noted that the most impressive result is that of Gloria Ndipo from Providence Girls Secondary School, who scored Eight points and aspires to study Medicine.

“Bearing in mind the positive outcomes of this scholarship fund, we at Standard Bank have seen it fit to renew our agreement with Press Trust.

 Through a Memorandum of Understanding signed today, we pledge to forge ahead with our joint financing interventions in education,” said Madinga.

Press Trustee Professor Moses Maliro urged the scholarship beneficiaries to make full use of the the opportunity by excelling in their studies.

“We have decided to invest in you, based on capabilities that you showed during the PLCE. We hope that you will maintain your excellent academic performance throughout secondary education.

It is our hope that you will be part of the critical human capital mass that Malawi requires to fulfill its 2063 aspiration in developing the economy inclusively,” he said.

Ministry of Education Principal Secretary (Basic Education) Dr Rachel Chimbwete-Phiri commended Standard Bank and Press Trust for renewing the fund describing it as a powerful medium for promoting access to equitable education for deserving students.

“We express our sincere gratitude to Press Trust and Standard Bank for rescuing our students, many of whom need financial support. The gap and need for financial assistance is really huge,” she said.

The initial fund of K120 Million runs up to 2023, while the new package of K220 million or an increase by 88% will run up to 2027 catering for 46 students from across the country’s secondary school, including those with special needs.

The scholarship fund is inclusive of tuition, stationary, school shoes and uniform, school bags and examination fees.

Apart from the scholarship fund for secondary schools, Standard Bank and Press Trust have also partnered to provide tuition and learning materials for four years for students at the Malawi University of Science and Technology (MUST), Maula Prison School and other schools that were hit by tropical Cyclone Freddy in 2023.

Business Partners International (BPI) Malawi, a fund manager that provides debt equity financing, has outlined five steps to enable entrepreneurs improve their businesses and achieve desired goals in the new year and beyond.

BPI Malawi country manager Akuzike Kafwamba said in an interview the strategies can help entrepreneurs to navigate the tough economic environment characterized by cost-of-living crisis and set themselves up for success.

He said the five steps include reviewing performance and progress of the past year, planning action and resources, seeking feedback and support from others, investing in personal and professional development and embracing change and innovation.

“An entrepreneur should identify what worked well, what did not and what they learned from success and failure. They should celebrate their achievements and have knowledge of the challenges,” said Kafwamba.

In terms of planning actions, he advised entrepreneurs to break down their goals into smaller tasks and milestones and assign deadlines and responsibilities for each one.

Kafwamba also advised entrepreneurs not to do everything on their own, but reach out to customers, partners, mentors and peers for feedback.

He also added that entrepreneurs should build a network of people who can provide valuable insights, advice, resources and opportunities.

An entrepreneur, said Kafwamba, has to invest in themselves and keep learning new skills, knowledge and perspectives that can help them to grow as a leader and a problem-solver.

“For an entrepreneur to succeed in a dynamic and competitive environment, there is a need to be adaptable and innovative,” he said.

Kafwamba’s advice comes against the backdrop of a report from the African Development Bank showing that Malawi’s business environment remains largely unfavourable to the growth of small and medium enterprises (SMEs).

Chamber for Small and Medium Enterprises executive secretary James Chiutsi embraced the tips, saying if followed, they can help businesses, particularly SMEs to survive the turbulent business environment.

“Any entrepreneur worth his salt can acknowledge the fact that there is always something new to learn about their business or market,” said Chiutsi, adding the new year brings with it challenges and opportunities for businesses.

Business Partners International Malawi supports viable local SMEs with financing, ranging from K100 million to K1 billion to boost their businesses.

National Bank of Malawi (NBM) Plc has appointed Harold Nester Jiya as Chief Executive Officer (CEO) designate effective from the beginning of this year.

His elevation from the deputy CEO position follows the impending retirement of the current CEO MacFussy Kawawa in June this year.

NBM Board Chairperson Jimmy Lipunga has confirmed Jiya’s appointment through a statement where he has described it as a significant step in the Bank’s succession planning process.

“The Board is excited with the prospects of Mr Jiya assuming the role of the CEO substantively upon satisfying and fulfilling the necessary milestones set by the Board. He brings a wealth of knowledge, experience, and a proven track record of leadership to this role, and his appointment is a testament to the rigorous succession planning process the Bank has undertaken to ensure a smooth and seamless transition in leadership,” said Lipunga.

Lipunga further indicated that he has full confidence that Jiya will build upon the strong foundation laid by those before him and continue to uphold the values and principles that have made NBM plc a leader in the banking industry.

Jiya, a veteran banker with over 20 years of management and leadership experience, holds a Master of Business Administration Degree from Exeter University in UK, a Bachelor of Commerce (Accounting) Degree from the Malawi University of Business and Applied Sciences (MUBAS) (formerly University of Malawi, The Polytechnic), and an ACIB/BSc (Honors) qualification from UK.

He is also an alumnus of the prestigious Advanced Management & Leadership program of Oxford University’s Said Business School and recently completed an Advanced Management Program at Insead Business School in France.

Jiya has held several positions at NBM, including Head, Corporate Banking/ Wholesale Banking Division, and General Manager, before being appointed Deputy Chief Executive Officer in September 2020.

Prior to this appointment, he was serving as Deputy Chief Executive, and before that, as General Manager, understudying the incumbent CEO.

“He has extensive financial service experience and is also an Executive Director on the National Bank of Malawi plc Board, a position he has held for the past 7 years. He has served on several boards in the private and public sector and has been in the management team at NBM plc in various roles since 2004,” reads further the statement.

Meanwhile, Lipunga has commended Kawawa for this contribution to the growth of the Bank during his time as the CEO.

“He has nurtured and provided direction to a highly motivated and dynamic
leadership team that has grown the Bank and sustained its position as a market leader. During Mr. Kawawa’s leadership, NBM plc has delivered stellar results including achieving phenomenal growth in revenues, profitability, assets and shareholder value,” concludes Lipunga.

NBS Bank Plc will get a USD 7 million Trade Finance Transaction Guarantee facility from the African Development Bank (AfDB) Group to support small businesses in Malawi.

This follows the AfDB Board of Directors’ approval on December 4, 2023.

Trade Guarantee is one of the trade finance instruments offered by AfDB  to support local banks in Africa, and covers an array of trade finance instruments, including confirmed letters of credit, trade loans, irrevocable reimbursement undertakings, avalized bills and promissory notes, among others

According to a statement by AfDB announcing the development through their website, the facility will provide 100% guarantee to international confirming banks (CBs) for the non-payment risk taken on NBS’ trade finance transactions conducted on behalf SMEs, local corporates, and women-led businesses in Malawi.

“It will enable NBS Bank to support the importation of fertilizer, medical supplies, and other strategic commodities. The facility is expected to support about USD 40 million of trade over the next three years and promote intra-Africa trade in line with the aspirations of the Africa Continental Free Trade Area (AfCFTA),” reads the statement.

AfDB’s Malawi country manager Macmillan Anyanwu is quoted stressing the importance of unlocking trade financing to support and scale up trade flows for a land-linked low-income economy like Malawi.

“The facility is expected to promote the integration of Malawi’s economy into regional and global trade networks which are critical for the country’s growth,” he said.

NBS Bank Chief Executive Officer (CEO) Kwanele Ngwenya said: “NBS Bank has always been passionate about Malawi’s economic development, and I am pleased with this milestone because the transaction underscores the commitment of NBS Bank and AfDB to the advancement of trade in Africa. Additionally, on our part, we are committed to an ongoing cordial relationship with AfDB for the benefit of our clients and Malawi at large.”

Maczale academy, with well experienced and dedicated teachers, is set to open for second term on Monday the 8^th of January 2024.

The academy, which is one of the leading boarding schools in the country, is located after Dunduzu Road Block along M1 road between Mzuzu and Ekwendeni.

It has modern hostels with beds and comfortable mattress, new classes with good desks suitable for both male and female learners.

Maczale academy, with a MANEB centre number and dully recognized by the Ministry of Education (MoE) , has fully stocked Library and laboratories for both science and computer lessons meeting all modern curriculum needs.

School fee at the school, which has a history of 100 percent pass rate for both MSCE and JCE, is very affordable; MK185,000 (One Hundred and Eighty Thousand Kwacha Only).

According to public documents which we have seen, 90 percent of MSCE students at the school are selected to public universities.

Research shows that eating healthy meals have been linked to higher grades, better memory and alertness, and faster information processing as such the school offers balanced diet to learners.

“Truth is we are the best boarding school; imagine the diet of fish, beef. Eggs, beans just to mention a few,”

During weekends and public holidays the students at the facility are treated with full entertainment which includes DStv among others.

For more contact the school on the following numbers +265884274169 or +265992526925 or via the following postal address Maczale Academy, P.O.BOX 1283, Mzuzu. You also send an email via maczaleacademies@gma­il.com.

MBL Holdings, formerly Mulli Brothers Group of Companies, says it is only through the divine intervention that the group is still operating in the country.

MBL Holdings Limited Manager Joseph Khupe made the remarks on Wednesday in Blantyre during annual national prayer for the holdings.

Khupe said it is only through prayers and guidance by Almighty God that all 24 companies are still operational.

In his sermon, Father Elizeo Mtharika of the Catholic Church urged MBL Holdings, which is owned by business tycoon Leston Mulli, to be resilient in the face of various challenges.

On his part, Catholic Priest Mosgnor Boniface Tamani called for a conducive economic environment for local companies to flourish.

He noted that Malawian companies have the potential to nurture the economy as their proceeds remain within the boundaries of the country.

Tamani further said government must learn to be civilised and work with every deserving business instead of marginalizing others who have the capacity due to political affiliation.

“Every deserving Malawian needs a piece of the cake. If the government receives taxes from everyone then everybody deserves equal opportunities,” he said

According to Tamani, for the country to achieve development, the leadership needs to start thinking progressively by using politics as a tool to build bridges and provide resources to the people.

“We are appealing to the government to make resources available to the local businesses so that they can function effectively. Without that, the nation is doomed,” he said.

Mulli recently asked Tonse Alliance administration which he accused of squeezing the company because of its association with the Democratic Progressive Party (DPP) to soften the heart.

 “They think if they give us contracts we shall use the money to support DPP to get back to power. But if people want DPP they will vote for it without money. We are a business and with God we shall survive, ” Mulli told the media recently.

MBL Holdings, which employees over 5000 Malawians, has business in Food Retailers, Tea Retailers, Farming, Agriculture, Books, Hardware Stores, Tourist Information, and Travel Agents among others.

Conglomerate Press Corporation plc (PCL) on Friday gave an early Christmas gift to the elderly in Mpemba, Blantyre by donating food packs and treating them to a Christmas luncheon.

Speaking during the event at Nthanda Ya Kum’mawa Elderly Trust at Jiya Village, PCL Chief Finance and Administrative Executive Moureen Mbeye said they decided to reach out to the elderly after being approached for help.

“It was at the peak of the Cyclone Freddy disaster when Mrs. Uko approached us to give a hand to the elderly here, but since we were also involved in helping other Cyclone Freddy survivors at the time, we could not help. But she kept checking with us and since this is Christmas time, we thought we should squeeze whatever we had in our budget to come and cheer the elderly here.”

“The festive season is a time to give. To be here and share with the elderly gives us so much joy that they will, at least, celebrate Christmas with love and care,” said Mbeye.

Executive Director of the Nthanda Ya Kummawa Elderly Trust Anna Kuloya-Uko thanked PCL for reaching out to the elderly especially during the festive time.

“We started helping the elderly in this area in 2009 with 111 elder people and vulnerable people, especially those with albinism. We have a women’s group that takes care of the elderly and also coordinates some self-sustaining activities for the group and its beneficiaries.”

“Today, we want to thank PCL for these donations and the Christmas lunch, the elderly and the vulnerable people will celebrate this Christmas in a special way because of your donations,” said Kuloya-Uko.

The items that were presented include maize flour, rice, sugar, salt, cooking oil and other necessities.

Giant alcoholic beverages producer Castel Malawi has unveiled the Special Christmas Limited Edition of the ‘Spirits of Malawi’ with special Christmas labels and packaging for new customer experience.

Castel Malawi Product Manager Shania Kuseka said in an interview yesterday that the special Christmas editions of Malawi Gin, Malawi Vodka and Premier Brandy already hit the market.

“The Spirits of Christmas are set to make this holiday season even more special. Available from December 15 2023, these premium spirits are a delightful treat for everyone. With their unique blend and festive packaging, they are the perfect gift to share and savour during the festive season.”

“Whether enjoyed neatly, on the rocks, or in a cocktail, they are sure to bring joy to all who indulge in their rich and complex flavours. We want our customers to embrace the spirit of the season and make these limited editions a part of their holiday celebrations,” said Kuseka.

She further said the  Christmas editions will have special Christmas labels and all black closure for all Gin, Vodka and Brandy for great consumer experience.

Kuseka said the iconic Malawi Gin, which has been celebrated locally and internationally since 1965 will be selling at K9,500 per 750ml bottle just like the Malawi vodka 750 ml bottle while the Premier Brandy 750 ml bottle will go at K14,000.

“The traditional labelled packaging for the spirits range will only be available after the exhaustion of the Christmas Limited Edition,” said Kuseka.

One customer Leslie Mbisa hailed Castel Malawi for the Christmas edition of the Spirits of Malawi range.

“This is a very good development and as a consumer for the Spirits of Malawi, especially Premier Brandy, I will enjoy it during the festive period and because the packaging is excellent and nice, I have already bought some for my friends and colleagues for their Christmas presents,” said Mbisa.

National Bank of Malawi (NBM) Plc has committed K80 million for the purchase of two blood bank fridges for the Malawi Blood Transfusion Services (MBTS) to help ease shortage of blood at Mulanje and Mangochi District Hospitals.

Speaking after handing over a cheque to MBTS on Friday, NBM Chief Executive Officer (CEO), Macfussy Kawawa said the Bank believes that a healthy nation is a progressive nation, therefore their contribution to the health sector helps to develop the country’s economy.

“We know that MBTS have been making efforts to reach out to hospitals that require blood for transfusions. We also know that they have been having challenges with storage and so on, and therefore when we were approached, we thought by making this donation, we are making MBTS reach out to those that would, otherwise, not be reached out to. In so doing, we are helping situations that would, otherwise, have been hopeless. I believe we will be saving lives through the equipment that will be purchased through this donation,” said Kawawa.

Kawawa further urged hospitals that are beneficiaries of such donations to desist from asking for monetary contributions from clients that require blood transfusion, as that would defeat the essence of the donations.

In her remarks, MBTS CEO, Natasha Nsamala commended NBM plc for the donation, saying it will also help to solve the transportation challenges that most hospitals experience to access blood from their main centres.

“Normally, hospitals come to us to access blood when needed. We do not take the blood to them. As for this donation, it means all the health centres under Mulanje and Mangochi will now be able to access the blood within their districts, thereby reducing the transportation cost. We, therefore, thank NBM for this huge donation this year as we will be able to keep more blood safe. Unsafe blood can be dangerous to a human being,” she said.

Nsamala also commended Malawians for developing a positive attitude towards the blood donation exercise, which has seen a very big improvement in the volumes of blood collected in 2023.

Conglomerate Press Corporation plc on Thursday donated various medical equipment to the Blantyre District Health Office to help save lives during the festive period.

The items included oxygen cylinders, oxygen concentrators, oxygen regulators and nasal tubes.

Press Corporation plc Chief Executive Officer Ronald Mangani said, as a corporate citizen, PCL decided to donate the items to help hospitals to save lives.

“As we approach the year-end festive season we tend to have a lot of accidents, and lifesaving equipment comes handy and useful in this period. We thought we should help the hospitals with this equipment at a time when it is likely to be providing critical services to the country,” said Mangani.

Receiving the donation, Blantyre District Health and Social Welfare Officer Dr Gift Kawalazira thanked PCL for the donation, saying it has come at the right time.

“We are very grateful for this timely donation. It is an early Christmas gift for us. This is critical lifesaving equipment which is used on people that have breathing problems. You know that if you cannot breathe it’s actually a matter of minutes before you can die.

“So, this equipment becomes handy especially now that we are going towards the Christmas period, hospitals become busy because of accidents from different sources. We want to promise PCL that this equipment will be used for its intended purpose,” said Kawalazira.

He called on other well wishers to emulate the example set by PCL saying ‘health business is everybody’s business’.

Conglomerate Press Corporation plc Chief Executive Officer (CEO) Ronald Mangani says PCL will continue to grow the Puma Energy Limited brand to create an impact on the domestic market and the country’s economy.

Mangani said this after opening a new Puma Sam Singh Filling Station on 2 Hannover Avenue in Blantyre CBD, where he also promised to see four more stations opened by the end of the year 2023.

“We are very excited to be associated with the PUMA brand. This means a lot to us because it means the brand is growing. It is increasing its footprints in the market and that’s the trend we see and we are very happy with. As PCL, we want to be associated with investments that are actually making a huge impact on the domestic economy, and PUMA is one of them.”

“We are actually expanding all over. This year alone, we have expanded into several places and the expansion will continue into December. We are looking at opening another four before the end of the year and another two by January. It is an expansion that is cutting across the geography of the country,” said Mangani.

Puma Energy Africa Chief Operating Officer, Ben Hassan Outtara, said in an interview, that the expansion signifies the company’s commitment to ensuring creation of investment opportunities in Malawi.

“We are on a growth trend. We want to be aggressive commercially to be able to create opportunities and jobs for Malawi. For us, it is important to show our strategy that we want to develop here in Malawi in terms of investment, job creation and sustainability. We need to be finding solutions by working with the Government and talking to the regulator,” said Outtara.

PCL has a 50 percent stake in the Puma franchise in Malawi.

Giant alcoholic beverages producer Castel Malawi has donated visibility vests worth K3.5 million  to motorcycle taxi operators known as ‘Kabazas’ as one way of helping reduce accidents in the country.

Presenting the donation during this year’s African Road Safety Day commemoration in Chikwawa on Friday, Castel Malawi Corporate Social Responsibility (CSR) Manager Linda Kolomba said the donation is a continuation of the company’s road safety campaign which it launched in September this year.

“We thought of donating these visibility vests to the Kabaza operators as one way of reducing accidents on our roads because they will be visible to other road users. We have a pillar in our CSR strategy on road safety and we are pushing this to make sure that we help reduce road accidents in the country hence our commitment to this cause.”

“We launched our road safety campaign in September this year where we have engaged road users including pedestrians on road safety issues in more than 20 busy trading centres across the country so that we help reduce these road accidents,” said Kolomba.

Receiving the items, Minister of Transport Jacob Hara who was a Guest of Honour at the function hailed Castel Malawi and other companies who donated visibility vests for their efforts in helping road users reduce accidents.

“I would like to thank Castel Malawi and other companies who have donated the visibility vests because this will address the issue of road users which is contained in the National Road Safety Strategy which we are launching today to make sure that road users are visible and therefore help in reducing accidents,” said Hara.

Pioneer mobile network company of TNM Plc has kicked off the festive season for its customers with a festive season and Christmas promotion, dangling K50 million.

Through the promotion that will end in February, TNM will reward customers with fabulous cash and non-cash prizes.

Launching the promotion this afternoon the telco’s head office, Chief Executive Officer, Michel Hebert, said the Christmas Promotion is TNM’s way of showing appreciation to its customers loyalty on the network and enhancing their 2023 festivity celebrations.

“This Christmas Promotion is a means through which we are giving back to our customers, appreciating them for standing by us through thick and thin.

“We hope that this promotion will also provide our customers an opportunity to enjoy this festive season with their loved ones through cash prizes that they will win in this promotion,” said Hebert.

Hebert also says that the company is committed to uplifting the lives of its customers and maximizing customers’ satisfaction and that the Christmas Promotion is also the company’s way of rewarding Malawians for showing resilience through hardships faced in 2023.

“As a network that has its customers’ welfare at heart, we empathize with the struggles Malawians went through in the year 2023 such as Cyclone Freddy, Cholera.

“We therefore hope that the cash prizes to be won will give new beginnings to our customers as they enter the new year ahead”, stated Herbet.

The Christmas promotion will see customers gaining an entry with each K500 recharge and winning cash prizes on weekly and monthly basis.

One lucky winner shall walk away with the grand prize of K10 million.

TNM which covers up to 88% of Malawi landscape also provides the 4G and 5G network services.

The Anti-Corruption Bureau (ACB) Director, Martha Chizuma has commended the giant alcoholic producer in Malawi, Castel for its strong stance against corruption at the company.

Chizuma was speaking in Blantyre on Friday during the Anti-corruption activities organized by Castel Malawi ahead of the Anti-Corruption Day on Saturday.

The ACB Director said she was proud of Castel Malawi for being leaders from the private sector to join the fight against corruption.

“I am impressed and encouraged that a private sector institution could think of coming up with a day like this. You don’t usually see the private sector getting involved. There are few that are doing this, and also, maybe to a level that Castel Malawi has done.”

“This is very important because as we celebrate the Anti-corruption day, those are the aspirations that we have as a country to achieve the Malawi2063 like industrialization, commercialization for agriculture services and others. All those things, it is the private sector that will help us achieve that. And it is not just any other private sector that can achieve that, but the ones that are corruption free,” said Chizuma.

Castel Malawi Human Resource and Corporate Affairs Director, Gloria Zimba said the goal is to raise awareness and foster a collective effort for the continued fight against corruption, a cause that aligns with the values they share under their Corporate Social Responsibility.

“We declared last year and we are continuing with that declaration that Castel Malawi is a corrupt free organization, and we will try our level best to put in as much funding as we can to fight corruption internally. This day is important to us, that is why we have involved all our employees in the integrity march.”

“We want every employee to internalize the fight. It is not a fight which management, ACB, or government can do on its own. Every individual employee is called upon to take the responsibility, to blow the whistle when they see corrupt activities, or bribery taking place,” she said.

Zimba further indicated that since the declaration last year, the company has received a lot of whistleblowing both internal and external.

The commemoration of the day started with an integrity walk around Blantyre CBD with other partners like Deloitte, Malawi Law Society and Malawi Police accompanied by the Malawi Defense Force Band.

NBS Bank Plc has acquired a 10-year Five million US dollar loan from the International Fund for Agricultural Development (IFAD) to enable the Bank to provide specialized financial services and support to businesses involved in the agriculture sector.

IFAD is a specialized agency of the United Nations, dedicated to eradicating poverty and hunger in developing countries.

Speaking at the agribusiness conference organized in partnership with Netherlands-based Rabo Bank and IFAD, NBS Bank Deputy Chief Executive Officer Temwani Simwaka, said the Bank’s role is to make sure that farmers and other businesses access financing to grow crops, produce, and add value.

“Looking at tea and macadamia, these are long-term crops and for macadamia it takes farmers seven years to start producing a crop that they can sell. As a Bank, we partnered with Rabo Bank to give us technical advice because it is a big agricultural bank. After that, we spoke to our customers and understood their needs and with that understanding we partnered with IFAD to support us by giving the funding so that we can lend to our farmers.”

“As NBS Bank, it would have been difficult to use our money for those long periods of time hence the support from our partners, RaboBank and IFAD. Again, most of these farmers export their crop and most of their costs are in foreign currency so it just makes sense for us to get money in US Dollars,” said Simwaka.

IFAD Country Representative Bernadette Mukonyora said their portfolio in the country is currently valued at 480 million US dollars supporting various sectors and sub sectors under agriculture, and irrigation among others.

“What we are doing now is looking at the agricultural sector as a critical driver of the Malawian economy. MW2063 talks about agricultural commercialization, we want to create value in this country, we want to create prosperity, and the agricultural sector is the one that will assist the government achieve that objective.”

“Today we are launching our first non-sovereign operation with NBS Bank and under this program, we are providing a loan of 5 million US dollars. Part of this funding has come from the government of Germany, and then we as IFAD lend this money to NBS Bank which is supporting value chain development and financing to tea and macadamia farmers in this country,” said Mukonyora.

In his remarks, Tea Association of Malawi Vice Chairperson Atu Kalinga said the market has been very depressed in the past two or three years.

“Appropriate financing is a major problem, so this facility that NBS Bank is bringing in will solve the problems,” said Katunga.

NBS Bank re-established its Agribusiness unit two years ago.

Twenty-five people have received an early Christmas gift from NBS Bank Plc after winning various prizes in the ‘Savings always Win’ promotion which encourages a saving culture among the Banks’ customers.

The lucky winners from different NBS Service Centres with entries in the past five months have walked away with return air ticket trips, K50,000 worth of grocery vouchers, and K25,000 bill payments in a promotion that ends December 31.

Speaking during the draw on Monday, NBS Southern and Eastern Region Cluster Manager Gracious Changaya said the response has been overwhelming.

“We are giving back to our customers who have been supportive to us through and through, and as a ‘Caring Bank’, it is also a way of also encouraging them to save, that is why we have these three categories to make sure all customers are taken into consideration.”

“This is a time that most people spend and it is also our responsibility to make sure that we help them to plan for the future as you are aware come January most people would want to send their children to school and would want to invest in their farms, that is why we are urging them to save now,” said Changaya.

Grand prizes are tiered in three different bands with those depositing K50,000 minimum standing a chance of winning K1 million, those depositing in the K100,000 to K500,000 band winning K3.5 million and lastly in band three for those depositing K500,000 above to win K6 million cash prize.

The promotion was launched on June 25 this year and will end on 31 December 2023. 

Malawi Stock Exchange listed NBS Bank on Thursday organized a clinic for the Small and Medium Enterprise (SME) sector to transfer knowledge to each other and enable small businesses to participate in economic development successfully.

NBS Bank Deputy Chief Executive Officer Temwani Simwaka said such clinics enable the Bank to understand the SMEs better and service them to their needs.

“As NBS Bank we believe that the future of the country is dependent on the businesses coming through from the SMEs because for us to strengthen the industry base we need a lot more, and also these are the people who will be able to save us forex by producing products locally but at the same time create jobs that the country so much needs.”

“So, as NBS Bank, we believe in partnering with SMEs for them to grow their businesses but at the same time we also believe in creating a platform for the SMEs to network,” said Simwaka.

One of the speakers, Chief Executive Officer of Maestros Designs Charles Lipenga said a lot of Malawians need access to loans but need some guidance and therefore making such clinics is important.

“This is something that Malawi needs especially with access to finance being a big challenge. NBS Bank is offering us a brilliant thing for the country and individuals. We rely on a lot of Malawians with small and medium enterprises which need access to loans but the challenge is that they need some guidance that’s why these clinics are important,” said Lipenga.

One of the participants, Honest Chirwa of Royal Medical Centre and Kateya Farms Limited in Rumphi, thanked NBS Bank for the initiative which he said gives room for entrepreneurs to learn from each other.

“In life not only in business, we learn from each other or somebody’s experience may teach you lessons whether it is failure or success. I believe that failure is part of success as long as you keep on moving,” said Chirwa.

Last year, NBS Bank Plc relaunched its SME offerings to cater for individuals who run small and medium businesses.

Nico Holdings plc has supported the Media Institute of Southern Africa (Misa) Malawi 2023 fundraising dinner with a K2.5 million donation.

Speaking in Blantyre during a cheque presentation event, Nico Holdings plc Corporate Affairs Manager Mbumba Mlia-Ndasauka said the donation is evidence of their commitment towards initiatives that involve the media industry.

“The donation we are making today is a small part of this commitment and we truly value the relationship our media practitioners have always had. At NICO, we believe that the media plays a very important role in disseminating information to the masses and we are proud to be among the corporates that can support this sector,” she said.

Mlia-Ndasauka also said NICO has been able to send over 10 journalists to South Africa for training with the Sanlam Summer School for Financial Journalists and fully supports Misa-Malawi fundraising for the construction of a training centre at its Mtolankhani House in Lilongwe.

“Let me encourage our media practitioners to remain professional in their reporting of matters, especially business and financial space and to make good use of the facility that will be put up for them,” she said.

Receiving the donation, Mc Donald Chapalapata a member of the Miss-Malawi Fundraising Committee, who was accompanied by Misa-Malawi Board Member Nathan Majawa, hailed NICO Holdings plc for the support.

“We thank NICO for this support, it will go a long way towards making our project of constructing a training centre which is pegged at K50 million a success. We value the relationship we have with NICO as they also support journalists with various training sessions in South Africa,” he said.

He said the fundraising dinner is scheduled for Saturday 2 December 2023 at Capital Hotel in Lilongwe under the theme ‘Media as a strategic partner for private sector growth and viability’.

Mobile network and ICT service provider TNM has contributed K6 million towards the Misa Malawi fundraising dinner and dance scheduled for this Saturday at Sunbird Capital Hotel Lilongwe.

Speaking during the cheque presentation ceremony TNM’s Corporate Affairs Manager Limbani Nsapato said TNM believes in media freedom and professionalism hence supporting Misa Malawi towards construction of the training centre through the fundraising dinner and dance.

“Trends change and they continue to do so. And we believe as a company that for a more vibrant media in Malawi there is need for the media to undergo regular and continuous training. And it is through the construction of a training centre at Misa Malawi that this can be achieved.

“And the benefits of such development can be enjoyed by all including us the private sector. For the past 27 years that we have been operating as a company in Malawi, we all our success to the media hence our support towards this noble cause,” said Nsapato.

Receiving the donation on behalf of Misa Malawi Chairperson for the Fundraising Committee Wisely Phiri said the media in Malawi is encouraged with the support it is is receiving from partners including TNM.

“As of today all preparations for the dinner and dance are complete. We are excited with the support we have received from partners like TNM which has today given us 6 Million kwacha which is a big chunk for us.

We are targeting to raise 50 million kwacha from this event and two other functions in future. We want to have everything done by mid next year,” said Phiri, who is also founder of ICT Company Sparcs Ltd.

Misa Malawi is set to hold a fundraising dinner and dance this Saturday under the theme media as a strategic partner for private sector growth and viability.

William Mpinganjira of FDH Bank is set to deliver a keynote address whilst musician Faith Mussa will perform at the dinner.

National Bank of Malawi (NBM) plc at the weekend awarded eight youthful ICT innovators in the ICT Association of Malawi (ICTAM) Innovation Jam competition in Mangochi.

The awards which were presented during the ICTAM annual lake conference, saw Richard Mtukula of Angle Dimensions winning in the Fintech and Digital Economy category with his Smart Identity software which allows customers to update their ‘Know Your Customer (KYC) details in the comfort of their home using a phone or computer device.

Mtukula got K1.5 million for the feat.

Innovators were competing in eight categories namely Agri-tech, e-Health, Fintech and Digital Economy, Emerging Technologies, Open Source, She Codes Spotlight, and Overall Open category.

Patrick Hambeyani and Christina Mapwele won the Agri-tech category with their Secure IOT Chicken Monitoring System, while e-health went to Matthews Jere and Tadala Mabulo of Khungu Langa Innovation on top of an overall open category award which saw them got an extra K500,000 from the K1 million prize.

Ronald Chikusa won the Emerging Technologies award with his Dwell Malawi innovation, while in the Open-Source category, Eliot Kalenga emerged winner for his Fees Collection Management System (FECOMAS).

Sarah Makina’s Drip monitor innovation won the She Codes Spotlight category. All the winners got a K1 million prize and will get incubation support from NBM and ICTAM.

Mtukula was elated with the award and said; “There is a need for innovators and ICT personnel to look outside the country where they can be able to showcase what they have developed because the young people in this nation are capable of exporting quality software just like the one that we have the ‘Smart Identity’. We believe that if we can export these skill sets and software products, they will be able to contribute towards the development of the country by bringing in forex.”

NBM plc Head of Information and Technology Operations Management (ITOM), John Mitchell said there is evidence that the world is now revolving around technology innovations hence the support from the Bank.

“Whatever is exciting people in the world is coming from the technology sector, Malawi can’t be any different so we have to drive this sector if we are to compete on the world stage. National Bank believes that the youth and technology best drive the future of Malawi. A sector that doesn’t invest in ICT technologies cannot compete on the world stage.”

“National Bank is interested in the goodwill of the Malawi nation and thinks that it can play its role by supporting ICTAM which is trying to assist the youth in the ICT sector to develop their products to a level which they can compete on the international stage,” said Mitchell.

Last week, the Bank announced a new partnership with ICTAM until 2026 where among other things, is injecting K75 million annually for the innovation incubation support, apart from the K40 million for the Innovation Jam awards.

ICTAM President Clarence Gama said he was excited that the 2023 innovation awards have revealed some of the top-notch technology that will transform the nation.

“We have received three times as much in terms of the innovation that we have been receiving in the past, this just tells you there are a lot of young people that are thinking how best they can transform this nation using technology,” said Gama.

NBM started sponsoring the Innovations Jams in 2019.

A team of golfers Mike Kalulu and Hiroshi Baba emerged champions of the National Bank of Malawi (NBM) plc Inspire Greatness Invitational Golf played at Lilongwe Golf Club on Saturday.

The Inspire Greatness Golf comes after about two years since NBM plc hosted and attracted interest from 126 golfers including the country Vice President, Saulos Chilima, Minister of Tourism, Vera Kamtukule, retired Malawi Defense Force (MDF) commanders, General Henry Odilo and General Vincent Nundwe among others.

Kalulu and Baba amassed 47 points to win the tournament.

Kalulu said teamwork helped them to win the tournament.

“I had a new playing partner, but we collaborated well. We thank NBM plc for organizing the tournament which has attracted great golfers, so you should understand that it was not easy to win by beating all those golfers,” said Kalulu.

NBM plc Chief Executive Officer (CEO), Mcfussy Kawawa commended the golfers for patronizing the tournament saying the aim was just to interact with the customers as they discuss business matters.

“While playing, your shot might have inspired someone to keep playing. On the course, we shared stories that may have inspired someone. At NBM plc, we believe in ‘Inspiring Greatness’,” he said.

On the possibility of returning on the Golf course with a similar tournament, Kawawa said: “Of course, but we do not want to commit because we only organize such tournaments when we feel we have to do that, unlike in the past when we had a calendar that we will host a National Bank of Malawi golf on such a day.”

NBM donated K3 million for the maintenance of the greens at Lilongwe Golf Club.

Total Energies Marketing Malawi Limited (TMML) has launched a safety campaign dubbed ‘Helmet 4 Life’ where among other activities, the company will distribute helmets to Kabaza motorcycle taxi operators to enhance their safety on the roads.

Speaking during the launch of the campaign at Tsiranana Service Station in Limbe, where the company distributed 300 helmets to Kabaza operators from various areas in Blantyre, TMML Managing Director Nerusha Govender said as a responsible corporate entity, the company realizes that road safety is fundamental to their business and a value to the company.

“We are targeting 1520 Kabaza operators for Malawi, but 100,000 in 40 countries where Total Energies operates. We have an important philosophy ‘safety for me for you for all’ and what we want is for the Kabaza operators to be safe for themselves and also to be safe for their passengers,” said Govender.

In his remarks, Road Safety Alert Foundation (ROSAF) Executive Director Joel Jere said he is thankful that the long-time discussion between his organization and TMML has finally materialized.

“It has been a long discussion that we should be able to help these Kabaza operators as one of our target groups and also looking at the increase in the number of accidents. So, we are very happy that Total Energies have taken a good step to distribute these helmets today,” said Jere.

Kabaza Association of Malawi spokesperson Tonex Yakobe thanked TMML and ROSAF for the initiative.

“As an association, we are going to make sure that the helmets are being used correctly and that no-one has sold his helmet because Total Energies wants us to be safe,” said Yakobe.   

According to TMML, 28 percent of road accidents in the world involve motorbikes and can reach 75 percent in certain countries.

TMML is celebrating its 60-year presence as a major player in the energy distribution sector in Malawi.

NBS Bank Plc has donated four air conditioners and one executive office chair worth K10 million to Thyolo District Council.

In her speech after presenting the items at the council offices on Thursday, NBS Head of Retail Banking Victoria Chanza said the Bank thought it was good to donate to the district council as part of their corporate social responsibility.

“NBS Bank got a request from Thyolo District and they told us that with the heat that we have had these years, they are working in an unconducive environment, so as a ‘Caring Bank’ today we came to donate the air conditioners as per request so that they can now work in a conducive environment.”

“The total cost is around K10 million because we bought the air conditioners, they are double split and we are also going to cover the installation cost,” said Chanza.

Thyolo District Commissioner, Hudson Kuphanga thanked NBS Bank for demonstrating that it is indeed a ‘Caring Bank.’

“As Thyolo District Council we are very happy that NBS Bank has donated these modern air conditioners because this is going to make our life at our office conducive. It was tough to operate from the office as you see there is climate change so Thyolo is one of the districts that is now very hot. You could not work in the office from 2 to 4 o’clock when the sun is about to set, so the coming of the air conditioners is a relief to the council,” said Kuphanga.

Thyolo District Council offices are still housed in the old building built around 1900 while awaiting the completion of a new three-storey office complex under construction.

FDH Bank Plc has become the first Southern African bank to access a US10 million Africa Trade Exchange (ATEX) facility agreement set to reshape the agricultural landscape in the region.

ATEX is an online platform developed by the Economic Commission for Africa (ECA) and African Export-Import Banks (AfreximBank) stands as a beacon of transparent and competitive access to critical supplies like food, fertilizer, and agricultural chemicals.

FDH Bank Deputy Managing Director George Chitera sealed the deal with Afreximbank Director and Global Head, of Trade Finance Gwen Mwaba, on Saturday at the ongoing Intra-Africa trade fair in Cairo Egypt.

In reaction to the agreement, Chitera said the Bank is pleased with the facility which has come in very timely manner.

“Malawi is an agro-based economy, and its staple food is maize cultivated between December and June. For a good harvest, there is a need for fertilizer that is not locally produced. The facility will assist the Bank in supporting its clients in the timely importation of this fertilizer for the 2023/2024 growing season.”

“The facility will also allow the Bank to increase its support to the Government of Malawi by increasing its credit facilities to importers of petroleum products.”

“Through the ATEX facility, the Bank will be able to support fuel importation by bridging the gap between the ordering and delivery of the fuel and the actual settlement of the payments to the suppliers,” said Chitera.

He added that the deal is coming in when most foreign banks are de-risking from the African markets, reducing their exposure to African economies and limiting the level of financial support to the trade within and outside the continent.

“The provision of the facility therefore asserts Afreximbank’s commitment to facilitating and promoting trade in Africa. With the increasing impact on global supply chain disruptions emanating from the challenging macroeconomic environment at the back of the Covid-19, the Russia/Ukraine war, and locally, the impact of Cyclone Freddy, such financing products from Afreximbank go a long way in cushioning the supply chain disruptions that may exist due to limited resources,” he said.

According to Chitera, by participating in the ongoing fair, the Malawi Stock Exchange listed Bank strives to become a leading financial services provider in Malawi and in the region to facilitate trade between Malawi and other countries by engaging businesses and demonstrating financial solutions that help importers and exporters to effectively do their business assisting with solutions to mitigate international trade risks and provide financing to enable growth.

On his part, Mwaba said apart from reinforcing the bond between the two parties, the deal also positions FDH Bank as the first bank in this African region to access the facility.

“This facility agreement will empower FDH Bank to effectively pool procurement for the upcoming 2023/2024 growing season, aligning with Malawi government strategy to bolster agricultural activities,” he said.

The Third Intra–African Trade Fair started on November 9 and will end on November 15 under the theme “Building Bridges for a successful AfCTA”, recognizing growth opportunities for Intra- African cross-border trade and investments.

FDH Bank was the only Malawian company sponsor of IATF

Lilongwe-based Mike Lupanga emerged the grand winner of the Standard Bank Plc’s Trolley Dash that was activated to propel digital transactions during the grand opening of Chipiku Plus City Centre shop in Lilongwe.

Through its Blue Weekend activations which aim at encouraging the usage of Point of Sale (POS) machines, Standard Bank elevated the promotion to reward customers that use their VISA card on a Standard Bank POS machine when making purchases.

During the Trolley Dash, Lupanga walked away with items worth K2.1 million within 90 seconds after his name was picked in a raffle draw. He became a winner after purchasing items worth K36,000 in the shop and made payment through the Standard Bank POS.

“I am so excited to win in this promotion, this is an early Christmas because the items I have managed to get will serve me for a long time. I have been a Standard Bank customer for a long time, and I love the efficiency of the Bank when delivering banking services,” said Lupanga.

Standard Bank’s Chief Executive, Phillip Madinga who was present during the trolley dash, said the promotion aims to give the Bank’s customers an opportunity to maximize usage of their VISA Debit Cards in various shops including the newly opened Chipiku Plus at City Centre.

“This promotion is a continuation of our effort to deliver convenience, unparalleled security and comfort to our customers and those of other Banks holding VISA Cards. No need to move around with bulk cash as Standard Bank provides the luxury for seamless services in shops,” said Madinga.

Through its VISA cards and POS, Standard Bank is deepening financial inclusion and encouraging digital economy.

“We are promoting financial inclusiveness as all debit card holders are free to swipe on Standard Bank POS, a development which is promoting financial inclusion in the long run,” he said.

The Bank dished out other prizes including shopping vouchers, umbrellas and golf shirts to lucky customers during the activation. The Bank has also planned out other activation throughout the festive season through their Blue Weekends campaign.

NBS Bank has said it is committed to supporting the primary school feeding program because it believes the program can accelerate primary school education in the country.

NBS Bank Head of Marketing and Customer Experience Tamanda Ng’ombe said in a statement that the Bank committed K20 million towards Mary’s Meals’ school feeding programme for four years because among other things, the program will help to keep children in school.

“The dropout rate and absenteeism of school pupils reduces significantly whilst the pass rate rises when a meal is provided because it increases their concentration in the classroom,” said Ng’ombe.

Speaking recently during the commemoration of World Porridge Day in Blantyre, Mary Meals, Head of Strategic Partnerships and Communications Mona Lisa Bandawe said the organization recognizes the magic in a cup of porridge, especially to children.

“That cup of porridge changes the children’s lives, especially in rural areas and those in urban areas but are hungry every day. When they have that cup of porridge it makes them active in class, and also gives them the energy to do their work.”

“Mary Meals Malawi is currently feeding over one million children, but with other partners, we are reaching up to 40 percent of school-going children which means 60 percent of children in Malawi still need to be reached with food at school,” said Bandawe.

In his remarks, Blantyre City South Constituency member of parliament Noel Lipipa asked those interested in funding school feeding programs to join hands with Mary Meals.

“We don’t need to have many school feeding programs, Mary Meals has demonstrated to us as Malawians that they can effectively handle this program,” said Lipipa.

Standard Eight learner at the school, Astice Banda, thanked Mary Meals for the feeding program.

“This cup of porridge has helped so many learners that used to abscond classes because they were hungry,” she said.

World Porridge Day was established by Mary Meals in 2009 and is celebrated annually on October 10.

NBS Bank plc has pumped in K5 million towards the Institute of People Management Malawi (IPMM) annual conference set for Mangochi from November 2-4 this year.

Speaking during the handover of the cheque to IPMM, the Bank’s Head of Human Resources, Austin Thunde hailed the relationship that exists between NBS and the Institute.

“People are at the heart of our operations, strategy and service delivery. As NBS Bank, we appreciate the contribution the Institute makes towards the development of organizations and the country as a whole.”

“The Bank has made great strides in the last few years because of its people; without them there is no Bank. We therefore look forward to an insightful conference as they will not only deliberate on their personal growth but also on how best they can serve the people in their various companies,” he said.

IPMM president, Godwin Ng’oma commended NBS Bank for the support which he says will help in catering for the conference expenses.

“We expect a large number of delegates to attend and therefore the money given by NBS Bank will help us to manage the delegates and other expenses. The conference will discuss several issues that affect our day operations as we strive to grow,” he said.

The country’s vice president, Saulos Chilima is expected to be the guest of honour at the event which is under the theme ‘Human Resource Management: Fostering Productivity, Diversity, and Change in a Multi-Generational Technology Driven Workplace’.

NBS Bank Plc has lived by its promise to continue to sponsor the Malawi Defence Force (MDF) War Veterans Thanksgiving golf tournament by being the headline sponsor for the fourth year in a row

The Bank, through its Chief Executive Officer Kwanele Ngwenya made a promise last year that it will ‘forever’ support the golf tournament as long as the Bank exists in the country.

This year, NBS Bank is the headline sponsor for the War Veterans Thanksgiving Golf tournament slated for Saturday 4 November 2023 at Lilongwe Golf Club where President Lazarus Chakwera is expected to tee off to start the tournament.

NBS Bank Head of Marketing and Customer Experience, Tamanda Ng’ombe said as a ‘Caring Bank’, they felt the need to commit more to the cause especially after noting that this year the golf tournament is aimed at raising funds to refurbish the memorial homes for veterans in Zomba.

“As the Caring Bank, we are playing our part in caring for our veterans by being patriotic and ensuring that our veterans have secure and safe housing. This is the fourth time NBS Bank is the anchor sponsor and we plan on doing the same every year,” said Ng’ombe.

Last year, the Bank pumped in K10 million towards Veterans and Ex-Service League of Malawi, VELOM, and K20 million towards the tournament making them the anchor sponsor of the tournament.  The Bank also committed to offering financial solutions to MDF retirees.

MDF spokesperson, Major Emmanuel Mlelemba commended NBS Bank for their support towards war veterans and also indicated that all is set for the tournament which targets to raise K100 million.

“We are very prepared. We wrote to various individuals and companies for sponsorship and we got a positive response. So far, we have 70 golfers and 35 teams that have registered and confirmed their participation. This year we really plan to renovate the war veterans’ houses in Zomba which requires a lot of money,” said Mlelemba in an interview.

Petroleum Importers Limited (PIL) has committed K500, 000 towards the Zomba Press Club Annual General Meeting (AGM) set for December 9 in Salima.

Speaking during the cheque handover ceremony in Blantyre on Wednesday, PIL General Manager, Martin Msimuko said the company appreciates the crucial role of journalists in democracy by providing information, holding those in power accountable, and fostering an informed and engaged citizenry.

“The press faces numerous challenges in today’s world, from declining revenues to threats on journalistic independence. As part of our corporate social responsibility, PIL has plans to reach out to areas of health, education, and safety and from time to time we respond to national needs when we have disasters for example. However, budget permitting we do respond to specific needs in the society as we have done with the media today.”

“By donating to the Zomba Press Club, we believe we are supporting the vital work of journalists and media organizations. It allows them to continue their investigative reporting, which uncovers corruption, abuse of power, and social injustices. It enables the press to inform the public about critical issues, from climate change to public health crises, helping us make informed decisions,” said Msimuko.

He also asked for more coverage on the dangers that come to our society through improper handling of fuel products.

“Fuel products must be handled in a special way so that we avoid the unfortunate events that have been taking place within the country where people have lost their lives from fuel induced fires.  Fuel oil is hazardous and that is why our customers Puma, Total energies, Petroda and Vivo are better placed to handle the products and would encourage the society to access fuel from their authorized retail outlets, in this case you will be assured of the quality of the fuel that you will be using,” he said.

Zomba Press Club president Titus Linzie commended PIL for the support.

“PIL realizes the importance of working with the media in disseminating information to the public. This support will go a long way in ensuring the success of our meeting. As media, we have a role to play in sensitizing the public on the dangers of keeping fuel in their homes. The public trusts our words and we will ensure we spread the message,” said Linzie.

PIL is a consortium of four oil marketing companies namely Puma Energy Ltd, Petroda Malawi Ltd, Total Energies and Vivo Energy Malawi.

Malawi’s pioneering mobile network and ICT services provider, TNM Plc scooped the best Commercial of the Year Outdoor Award for its Mahape thematic campaign during the 2023 Institute of Marketers in Malawi (IMM) awards gala.

The award-winning ideas is the depiction of a busy woman making a call while her GSM handset is strapped to her head with a rubber hand. The creative sends the message about the power of TNM’s services and products to create happiness and memorable moments. The overall Mahape campaign was created by FD Communications Ltd for their client, TNM Plc.

TNM Head of Brand and Marketing Madalitso Jonazi said the recognition highlights the telco’s overall purpose of creating value that emanates from a deep understanding of human cravings in the tech-driven world: genuine happiness and connection driven by utility.

“We are delighted that one of our Mahape executions earned this great recognition by IMM. This creative artwork showcased the happiness we create by providing a network to make connect people and business, “said Madalitso Jonazi, TNM’s Head of Brand and Marketing.

Jonazi said Mahape was an all-encompassing campaign as it was brought to life across different media platforms, in addition to the award-winning outdoor execution.

“By depicting scenes of shared joy in the Mahape campaign, we made the audience feel a deep sense of connection and nostalgia, reinforcing the theme of happiness as a unifying force. This campaign’s knack for sparking engagement, forging brand love, and delivering real results seals its victory as the ultimate champion,” he said.

Presenting the awards, Chief Judge of the 2023 Marketers Excellence Awards, Enwell Kadango said that the awards celebrate brands and individuals for their outstanding works in the marketing sphere.

“Today all nominated brands and individuals are winners for they have done great works in the industry. However, tonight we are here to hand out 21 exceptional accolades to those that stood out the most,” said Kadango.

Reiterating the need for the awards, Isabel Kachinjika President of Institute for Marketers in Malawi said the recognitions help organizations delivery delightful services to their clients.

“These awards celebrate innovation, creativity, and strategic prowess. They recognise those who have broken through barriers, propelling their businesses and our economy forward,” said Kachinjika.

NBS Bank plc in conjunction with the Football Association of Malawi (FAM), and the Malawi Red Cross Society, have officially handed over four houses to families who were displaced by Tropical Cyclone Freddy in March in Ntauchira Village, Chiradzulu.

The houses were built using the funds realized from the Charity Shield match between Nyasa Big Bullets and Mighty Wanderers played in April this year, as well as from the Flames Africa Cup of Nations (AFCON) qualifier against Egypt, which was played at Bingu National Stadium in Lilongwe.

At the handover ceremony in Masikini Village, Traditional Authority (T/A) Likoswe, Temwani Simwaka, NBS Bank’s Deputy Chief Executive Officer, stated that as a ‘Caring Bank’ and a Malawian institution, they were overjoyed to be a part of the life-changing endeavour for the impacted families, and that the homes will make a significant difference in their lives.

“As a Bank, we always value every life because we rely on them as clients. As part of our corporate social responsibility, we decided to come in by partnering with FAM with the goal of bringing a significant change to our friends, and it is our hope that these houses stand as a great starting point for their lives,” she explained.

FAM president Walter Nyamilandu Manda expressed excitement about fulfilling the promise that the association made to the public and the affected families.

“These families had been through a terrible time, and they desperately needed our help as Malawians. As the FA, we are very proud that we have been able to help them afford a smile.”

“We understand that what we have provided to them is insufficient to bring back their relatives who died during the tragedy, but our plan was to ensure that we give them a place like a house, which we have just fulfilled,” he said.

Malawi Red Cross Society acting Head of Disaster Management, Cecilia Banda, praised FAM and NBS Bank for acting as goodwill ambassadors in supporting the affected people, saying the institutions demonstrated true love to the victims

Margaret Makawa, 40, who lost her husband in the disaster, expressed her thanks for the home, saying it came at a time when she had nowhere to live with her five children.

National Bank of Malawi Plc (NBM) has boosted the morale of the Tertiary Education Students Sports Association of Malawi (TESSAM) 2023 games with a donation of K3.5 million. 

Students from about 20 tertiary institutions in the country will converge in Lilongwe this weekend for various sports activities including football, volleyball, tennis, netball and others.

NBM Projects Manager Chimwemwe Lipato presented the cheque to TESSAM officials on Tuesday where he said the Bank believes that giving the youth a platform to develop skills through sports helps the country’s development.  

“National Bank believes that the youth have a big role to play, and we are not just a financial Institution but part of the Malawian community. Giving the youth a platform to develop their skills will allow them to maximize and realize their potential from a sports perspective, but overall, it will give them a platform for mental stimulation and their contribution to this country,” said Lipato.

TESSAM technical member, Victor Chikoti thanked National Bank for always being a true partner.

“The Different Universities participating in these games get funding from their institutions but it is not adequate. There are usually cases where we come to the grounds and still need a hand. We knew we had a gap and needed a partner. We could not think of any other way but to go to National Bank as a trusted partner that has invested a lot, especially in uplifting the standards of education in Malawi.”

“So, they were kind enough and indeed very faithful to their promise to come in and say they would not allow students at the national level to come together in these different sporting codes without the Bank featuring at that particular stage, for that, we appreciate this type of support,” said Chikoti.

The annual sports festival will also be used to identify champions in various disciplines that will represent the country at the Confederation of Universities and Colleges Sports Association (CUCSA) tournament in South Africa next year. 

The Malawi Stock Exchange listed NBS Bank scooped three awards at this year’s Marketer’s Excellence Awards held on Saturday in Mangochi.

The awards, which are meant to recognize the effort by marketers as a way of encouraging quality and professionalism, saw NBS Bank plc being named the Best Customer Service, Outstanding SME initiative, and Commercial of the year- Print.

Reacting to the development, the Bank’s Head of Marketing and Customer Experience, Tamanda Ng’ombe said the awards compliments their growth efforts as outlined in the new strategic plan.

“At NBS Bank, we strive to ensure we provide services that are easily accessed by our customers. Over the years we have worked on improving our digital services including our EazyMobile services to ensure customers access our services at their fingertip in the comfort of their homes.”

“Through mobile services, customers are able to access loans within minutes without visiting the Bank. We are now offering rewards to customers who use our digital banking services. Therefore, this recognition from the IMM has come as an affirmation of the efforts made by the Bank. We thank our customers for their trust in the brand and our staff for their dedication which has led to the recognition.”

“These awards will help us to push for more improved services. We will not relax,” said Ng’ombe.

Chief judge at the event, Enwell Kadango commended the winners saying this year the submissions improved greatly. 

In the Best Customer Service category, NBS Bank was competing with TNM, and Sunbird Hotels and Resorts, while on Outstanding SME Initiative of the year, the Bank had no competitor.

The Red Brigade, as fondly called, outclassed TNM and Victoria Forex Bureau in the Commercial of the year- Print category.

National Bank of Malawi (NBM) Plc will this weekend take the Inter-University Social Weekend to Lilongwe with the core objective of raising awareness about mental health among university students while enjoying sports and entertainment activities.

The social weekend, which will take place at Lilongwe University of Agriculture and Natural Resources (LUANAR) Bunda campus on Friday and Saturday (27 and 28 October 2023) targets Universities and Colleges in proximity or within Lilongwe City which include Pentecostal Life University, LUANAR NRC and City campus, Lake Malawi Anglican University, Malawi College of Health Sciences, Kamuzu College of Nursing, College of Medicine and Nalikule College.

NBM plc Marketing and Corporate Affairs Manager Akossa Hiwa said the ‘Mo626 Inter Universities Social Weekend’ is expected to give students light-hearted networking and collaboration opportunities, as well as access to vital mental health and self-care information.

“The Bank is committed to providing a safe and supportive environment where students can openly discuss mental health, pick up coping strategies, and engage in activities that promote overall well-being. As part of this effort, a dedicated Mental Health Booth will be set up, staffed by a qualified mental health expert who will be available to assist and guide students in addressing their mental health concerns,” said Hiwa.

Hiwa said attendees should also look forward to cultural showcases, sports competitions, and captivating performances, and the Bank’s presence, as one of the event sponsors, will further enhance the experience by offering insights into the financial aspects of mental well-being and personal growth.

Entertainment Director at LUANAR, Wakisa Dimba commended NBM plc for the initiative saying most students in universities are depressed and having mental health experts will provide a good platform for them to share their problems while seeking professional counseling services.

“As students, we have a lot of mental health issues. I remember at some point we had a first-year student attempting suicide because of lack of support for his studies. But they cannot share their problems with a colleague for fear of being laughed at, but we believe mental health experts have the expertise on handling such issues. Entertainment will also provide us relief,” said Dimba.

Eli Njuchi, Malinga Mafia, Sly C, and Wikise are set to headline the event.

NBM recently sponsored a similar event which took place at Kamuzu University of Health Sciences (KUHES) Complex, Blantyre last month.

Listed commercial bank, NBS Bank, recently joined the Public Relations Society of Malawi (PRSM) in recognizing and awarding several people who went out of their way to help and rescue others in their communities during the Cyclone Freddy disaster early this year.

NBS Bank awarded the 12 individuals with certificates and cash during this year’s PRSM lakeshore conference held in Mangochi from 5^th to 7^th October 2023.

NBS Bank Public Relations Officer Olivia Chiligo said they decided to reward the Cyclone Freddy heroes for exhibiting extraordinary acts of kindness, bravery, and selflessness during and the aftermath of Cyclone Freddy to serve the community.

“Cyclone Freddy was an event that tested the strength and character of our nation, and in the face of adversity, we witnessed countless acts of heroism. People opened their doors to shelter others, workers went above and beyond their duty to provide assistance, and individuals risked their own lives to rescue and help those in need. These are the stories that inspire us all. They remind us that even in the darkest hours, the spirit of compassion, unity, and solidarity shines through.”

“PRSM’s decision to recognize these heroes aligns perfectly with NBS Bank’s commitment to community development and our belief in the power of collective action. We firmly believe that by acknowledging and celebrating these acts of kindness, we not only honour those who went above and beyond, but we also send a powerful message to the world about the resilience and unity of the people of Malawi,” said Chiligo.

Among those awarded were three Marine Police officers from Mangochi and Monkey Bay who went missing after the boat they were traveling in capsized on Shire River as they were going to rescue people who were trapped by the Cyclone.

Despite having their boat capsized, the three continued with their mission after being rescued by some members of the community.

“It was a near death situation when our boat capsized. We are very grateful to God and the community members who searched for us until we were found. We could not have abandoned the mission because we made a commitment to save and protect the people of Malawi that is what kept us going,” said Lucia Nthala from Monkey Bay station.

PRSM President, Benson Linje, said there are a lot of people who risked their lives in trying to reduce suffering of people who were affected by the Cyclone in their respective communities and beyond, but their efforts are not recognized.

“The way these people conducted themselves is inspiring hope that there are people in this country who are passionate about changing lives of people that require support. There are other people who had the capacity to help but they did not, so it is worth recognizing those who left their comfort zones for the sake of others,” said Linje.

Linje thanked NBS Bank for sponsoring the awards which he said have managed to motivate the people to continue doing good to people in need.

National Bank of Malawi (NBM) Plc has given the Malawi Microfinance Network (MAMN) K4.5 million for their inaugural annual lake conference  which started in Mangochi on Thursday and ends on Saturday.

Speaking during a symbolic cheque presentation at NBM head office on Tuesday, Head of Digital Financial Services, William Kaunda said the sponsorship is a symbol of the Bank’s dedication to the microfinance sector’s growth and the aspirations of an inclusive and self-reliant nation.

“The microfinance sector in Malawi has a proud tradition of working closely with micro, small, and medium enterprises (MSMEs) who are playing a pivotal role in supporting economic growth. The financial services microfinance institutions offer extend far beyond the mere provision of finance. They have a profound impact on the lives of individuals, families, and communities by fostering financial inclusion.”

“The conference’s theme, ‘Financial Inclusion, a Key Driver Towards Attaining the Malawi Vision 2063’ resonates deeply with our institution’s goals. We believe in a future where every Malawian has access to financial services and opportunities, where poverty is reduced, and prosperity is widespread. This conference serves as a platform to advance that vision,” said Kaunda.

MAMN Chief Executive Officer Duncan Phulusa, thanked NBM plc for the donation adding that the conference is going to discuss financial inclusion towards attaining the Malawi Vision 2063 agenda.

 “We came up with this bearing in mind that financial inclusion is not a one-man thing but a national agenda. So, it is not only microfinance institutions that will attend, Banks such as National Bank and other partners will also attend. If this country is to develop, one of the key drivers is financial inclusion,” said Phulusa.

In recognition of the role of the procurement profession, TNM Plc has contributed K5 million towards this year’s Lakeshore Conference of the Malawi Institute of Procurement and Supply (MIPS) underway in Mangochi up to October 21.

TNM Corporate Affairs Manager Limbani Nsapato said Wednesday during presentation of the contrubution it is in recognition of the critical role of procurement and supply professionals in nation building efforts through various procurement decisions and processes undertaken in the private and public sector. Procurement activities take up an estimated 70 percent of all national budget activities, according to MIPS.

“Procurement and supply form an important ecosystem in national economic activity, including the management of public and private projects of any size. TNM greatly values the intermediation role of procurement in driving the flow of finances between private and public sector, and in shaping the development of the country’s national payment systems,” said Nsapato.

Receiving the contribution, Board Member and Chairperson of the Finance and Administration Committee for MIPS, Maureen Mbejere thanked TNM for responding to their need to elevate dialogue on sector-specific issues through the annual lakeshore conference platform.

“This contribution will no doubt contribute to the success of this year’s conference which will brainstorm how procurement can continue to contribute to economic development, and also raise awareness about the profession,” said Mbejere.

MIPS was established to regulate and promote interests of the procurement profession as well as raise the sector’s profile. This year’s conference from October 18 to October 21 at Sunbird Nkopola in Mangochi, will be held under the theme: “Demystifying the Hidden Costs of Procurement and Supply Chain Management.”

National Bank of Malawi (NBM) Plc has given K10 million to the Presidential Charity Golf Initiative which aims to raise funds for victims of tropical cyclones and support university students facing financial hardships.

NBM’s Head of Corporate Banking, William Chatsala presented the cheque to the Presidential Golf Initiative officials on Friday where he indicated that the Bank believes in actively contributing to the betterment of society, hence the partnership.

“As a Bank, we believe that the Presidential Charity Golf Tournament embodies a commitment to making a positive change in our community and beyond. It is a testament to the belief that, when individuals and organizations step forward with a shared purpose, they have the power to drive transformational change.”

“By sponsoring this event, we align ourselves with the noble cause of supporting victims of tropical cyclones, helping them rebuild their lives and homes, and promoting resilience in the face of adversity on the one hand. Our sponsorship will contribute directly to empowering aspiring university students by removing financial barriers and enabling them to pursue higher education, The Bank is thus contributing towards the nurturing of leaders of tomorrow,” said Chatsala.

In his remarks, Chairperson of the Golf Tournament Organizing Committee, Gift Chidya Gondwe thanked NBM for the support which is coming after the Bank already contributed K120 million towards Cyclone Freddy victims.

“Their contribution today has gone a long way to support the cause, this tournament is raising about K400 million and this K10 million has added more to reaching our target. This year the funds will be used to assist victims of Cyclone Freddy but also the needy students in six public university colleges. We are really thankful to the National Bank,” said Chidya Gondwe.

The golf tournament which was set for October 7 has been shifted to October 21 due to president Lazarus Chakwera’s official engagement in Mozambique on Saturday. 

Malawi’s auditing authority, the Institute of Internal Auditors in Malawi (IIAM) has named TNM Plc as Malawi’s Internal Audit Awareness Champion for the year 2023.

The inaugural championship award was presented to TNM during the recent IIAM’s lakeshore conference in Mangochi.

IIAM Chief Executive Officer Albert Dambula said the award is in recognition of TNM’s contribution towards development of the internal audit profession in the country.

“The month of May is International Internal Audit Awareness Month where apart from activities carried out by the institute, member organizations are encouraged to promote development of the audit profession. TNM emerged a winner after implementing great awareness initiatives promoting good governance processes in their institution,” he said, adding the telco beat other organizations to the score.

Receiving the award, TNM’s Head of Internal Audit department Ackson Banda described the recognition as a great motivation.

“During the month of May, TNM in collaboration with the internal audit department implemented outstanding series of awareness initiatives both internal and external. While our initial efforts did not target an award, the recognition is a plus and gives us extra impetus to do more next year during the awareness month,” said Banda.

Banda said that the awareness campaign created a great platform for TNM staff to appreciate the role of auditors in the company.

He noted that the recognition adds great value towards TNM’s reputation in adherence to corporate governance requirements as a listed company.

“The award goes beyond recognizing our role in improving governance issues but enhance trust in our various stakeholders who will feel comfortable to make transactions with the Malawi’s best 4G and only 5G network,” he said.

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations.

It involves identifying the risks that could keep an organization from achieving its goals, making sure the organization’s leaders know about these risks, and proactively recommending improvements to help reduce the risks.

FDH Bank plc has given K10 million to the Institute of People Management (IPMM) for their annual lakeshore conference set for November in Mangochi.

The Bank’s Senior Manager for Personal and Business Banking, Elizabeth Phoya delivered the cheque on behalf of FDH Bank where she commended their partnership with IPMM.

“We consider the Institute of People Management – Malawi a critical partner as they are the umbrella body that supports Human Resources in the country, and their initiatives contribute to capacity building of Human Resources professionals. IPMM is the driver of this industry-wide collaboration and we applaud the role they are playing.”

“These annual meetings provide a platform for growth for these critical professionals and we would like to ensure the success of the meeting by supporting them and in turn supporting the workforce in Malawi to achieve individual and economic growth,” she said.

Phoya further indicated that as the Bank is celebrating 15 years Committed to Growth (Magical 15), staff members have been a huge part of that growth because all the services and products that the Bank offers hinge on the human resources they have.

“We have a vibrant CSR portfolio that has the four pillars; Our Community, Our People, Our Economy and Our Environment. Staff members fall under Our People and we are keen on staff engagement. Building a strong work force leads to success of the company, develops the community and champions economic growth. And growth, as you know, is our currency,” she explained.

IPMM president, Godwin Ng’oma hailed FDH Bank for the support saying it will go a long way in covering some costs at the event.

“Human Resource is a backbone of every company, we therefore expect a lot of delegates as the conference offers an opportunity for the professionals to bang heads and bring feasible solutions in their respective companies,” he said.

The theme for this year’s conference is ‘Human Resources Management: Fostering Productivity, Diversity, and Change in a Multi-Generational Technological Driven Workplace’.

FDH Bank plc has committed to build 30 houses for Cyclone Freddy victims in Phalombe, Chiradzulu and other districts worth K200 million as part of celebrating its 15 years of existence in the country. 

The Bank’s Managing Director, Noel Mkulichi disclosed that the two districts will be allocated K70 million each, while the other money will be given to other partners on the same initiative like Habitat for Humanity for the other districts. 

“As much as months have passed by and Government and various organizations including the Joyce Banda Foundation have been working tirelessly to restore what was lost; there is still a lot to be done and we should all come together to assist where possible.”

“As FDH Bank Plc, we have decided to offer further support to Cyclone Freddy Victims that is directed towards rehabilitating people who lost houses during the disaster,” said Mkulichi.

He further indicated that through the Bank’s Corporate Social Responsibility (CSR) portfolio under the umbrella ‘FDH Cares’ with four pillars; ‘Our Community, Our People, Our Economy and Our Environment’, they ran a 10-week program with staff members called ‘FDH Freddy Friday’ where staff members contributed something towards the victims every time they wore their Flames Replica jerseys on Fridays.

“This is a huge part of our contribution to the community as we are celebrating 15 Years of Commitment to Growth (Magical 15) as we have remained committed to giving back to the community we operate in over the years.

“I urge all of us to work together to help the people that were worst hit by the disaster and I trust that we will have a progressive working relationship with the District Councils as we execute this project,” he explained. 

Phalombe District Commissioner, Douglas Moffat commended FDH Bank for the support. 

“We are grateful for the support we were given in March this year when the disaster fell upon us, but we needed to make sure that these people are back on their feet, especially their houses. Therefore, this support by FDH Bank has come at the right time. We just plead with the contractors to expedite the process as we are approaching the rainy season,” he said.

Earlier this year, FDH Bank provided an emergency relief package to Phalombe, Mulanje, Thyolo, Chiradzulu, Chikwawa, Blantyre, Mangochi, Nsanje, Zomba and Mwanza adding up to K100 million.

The Malawi Congress of Trade Unions (MCTU) has commended Castel Malawi and its Castel Malawi Workers Union (Camawu), for the good-working relationship which has the potential to benefit the economic development of the country.

MCTU Deputy Director responsible for workers’ education and members recruitment, Ms. Jessie Ching’oma made the remarks during the CAMAWU Annual General Meeting in Salima over the weekend.

“It is important that as a union mother-body, we ensure that we capacitate unions in Malawi. We are looking at the critical component and contribution of workers to the productivity and the profitability of companies. At the end of such interactions, we are looking at the resultant issue of national development.”

“As it has been reported by the Castel Malawi MD, that Castel Malawi is number two taxpayer to government, second from Illovo. We have been told that it pays taxes more than MK3 Billion per month, we are grateful for that. We need more investors like this to support revenue generating for our country. Actually, taxes are an important ingredient to economic development; enabling availability of necessary medicines, the exercise books for our schools, and as well as supporting smooth running of our country is.”

“We are also looking at issues of employee motivation, employee-employer relationship, and dialogue, which are critical in ensuring that we have a harmonious working environment.  Where there is provision of management and union engagement, employees positively contribute towards profitability and productivity of the company. We are all aware that Malawi is going through financial and economic difficulties including the climate change issues like Cyclone Freddy, not many companies can manage to release funds to support union activities in such tough times,” she explained.

Guest of Honour at the meeting, Castel Malawi Managing Director, Mr. Thomas Reynaud took time to share with the union the company’s further growth, a year after splitting with Cocacola.

“It is my ambition that in the next few months we will be designing a more efficient and more productive Castel Malawi. It has not been an easy road, because change comes with both positive and negative challenges. But I am happy to share with you that in this past year we have worked together very well although we had some months where our sales were below target and below last year. It is my wish that together we will continue to embrace any future changes as a team, with a positive mind and positive attitude,” he said.

The Human Resource and Corporate Affairs Director, Gloria Zimba also commended the cordial working relationship with Camawu.

“The Union invited the Castel Malawi management to the AGM, because they would like to understand and align with the company’s strategy as CAMAWU is planning for the 2024 calendar of events. They also wanted to know what management’s expectation of them is, for 2024, but also, to be given an appraisal of how we have worked with them in the 2023 financial year.”

“We believe and trust that there is no company that can do well, without its employees. We also believe that our employees are one of the greatest assets that we have. We don’t look at them as machines, they are people with emotions, therefore they need to be engaged. We understand that an engaged employee is a more productive and effective employee. They also feel valued, and if they feel valued, they are loyal to the company because they take ownership of whatever objectives you are driving at the organization, they take ownership of the company.”

“So, you work together, you walk together and you drive the business together. At Castel Malawi, we don’t believe in labelling our Union ‘black’. Just because the employees are voicing out issues then they cannot be called rebellious,” explained Zimba.

President of Camawu, Reuben Kapito also hailed the Castel Malawi management saying they take heed of the union concerns, and suggestions.

“In the past, the CAMAWU relationship with management was not conducive but since we started the union, we have seen a sense of recognition and engagement. Being in Union, we are a bridge between members of staff and management, so our main duty is to take concerns from the two parties. Minus union at an organisation, many people will suffer in silence,” said Kapito.

Ethanol distiller PressCane Limited has said its recent acquisition of a brand-new fire-fighting-truck will not only serve the company but the communities as well at no cost as part of its corporate social responsibility (CSR).

The fire-fighting truck became handy on Sunday when it helped put out a fire which gutted part of Dyeratu Market just a few metres from Press Cane ethanol plant in Chikwawa.

“We’re thrilled to announce a significant step in our commitment to safety by introducing our brand-new fire-fighting truck, a crucial addition to our Chikwawa distillery complex. This proactive measure is a testament to our dedication to ensuring safety not only within our complex but also within the community.”

“Our fire fighting personnel were called to help put out fire which started at Dyeratu Market which is not very far from our plant and we are glad that we could lend a helping hand to our community because this truck is not for only us but all the people of Chikwawa,” said Press Cane Sales and Marketing Manager Mercy Jumula Kamanga in an interview.

“We are proud to share that our skilled firefighters have recently successfully completed a rigorous training program, endorsed by experts from the Aviation Department. Given the high flammability of ethanol, this investment bolsters our confidence in effectively mitigating fire risks. At PressCane, safety remains our top priority,” added Kamanga. 

Dyeratu Market Chairperson Henry Chimwala said they suspect that the fire may have started from an electrical fault from an electricity pole and has destroyed merchandise for traders worth millions of kwachas.

He hailed Press Cane workers for putting out the fire using the fire-fighting truck.

Chikwawa Police Station Spokesperson Dickson Matemba said they have instituted investigations into the fire to understand its cause.

National Bank of Malawi (NBM) Plc has given K2 million to the Financial Dealers Association (FIMDA) for their lakeshore conference in October.

Speaking during a symbolic cheque presentation at NBM head office on Thursday, the Bank’s Treasury and Investment Banking Division Senior Dealer Lysan Pidini said they decided to donate towards the conference because financial market dealers have a role to play in the economy as they set the prices in the foreign exchange.

“As a Bank, we feel that we have a role to assist the financial market and the financial industry, that is why National Bank has decided today to support the FIMDA lake conference, we are quite sure that out of this conference, we are going to see brilliant ideas, and innovative products coming out and start a debate of issues that are affecting our economy,” said Pidini.

FIMDA General Secretary James Mbingwa said the association is very happy and appreciative of the sponsorship which will go a long way in organizing the conference.

“The conference is going to bring a lot of experts together to discuss matters that are affecting this nation and therefore a lot of the dealers present and participants are going to learn a lot from these experts.”

“If you look at this year’s conference theme, we trying to tackle issues that are affecting the nation in terms of the generation of forex, as dealers most of the time we are at the end where we are trading, we have foreign exchange market dealers that we trade in forex but tackling issues that are going to contribute to the generation of forex in the country,” said Mbingwa.

FIMDA will hold the conference in Mangochi from October 13 to 16 under the theme ‘The Role of Financial Market in Achievement of Agricultural Productivity and Commercialization’. 

FDH Bank plc has launched a portable Point-Of-Sale (POS) machine to provide convenience to the customers and business owners.

Speaking during the launch of the machine called ‘Tswaa MiniPOS’ on Tuesday, FDH Bank plc Senior Manager for Digital Sales, Yamikani Mbawala said the Bank wants small to medium sized businesses to join the digital banking revolution and win in their businesses.

“Tswaa MiniPOS is a small POS which looks like a phone, like a Nokia 3310 that fits in your pockets. This is to enhance small businesses as we have a lot of businesses in town but they are unable to take card transactions because they don’t have a POS and Banks are not willing to give them a POS because their transaction volumes are small, they don’t do as many transactions as other businesses.”

“So, we got these POSs to cater for that particular market like that supermarket where you live, a small market in Chirimba, Machinjiri, or Area 23. We want this POS to get to all those places where now you can transact using cards.”

“The Reserve Bank set this year June that every business has to have a digital payment system, we are just responding to that call. So, we encourage merchants, customers to apply for this Tswaa POS,” said Mbawala.

One of the customers, Mathambo Lowole, who is the owner of Sunnyside Lodge commended FDH Bank for the innovation saying the portability excites customers to carry it through wherever they are conducting businesses.

“It is an innovation that we have been looking forward to. Looking at the first POS machine we had to charge it, so it did not come in handy because sometimes we have to be invited to outside events. Sometimes you have to go there at 5pm and by 12 o’clock you want to charge but there is already a commotion, so this gadget will help us on outside events. It has also been designed to provide proof of payment to both the merchant and customer,” he said.

According to Mbawala, the MiniPOS is compatible with all Bank cards.

The MiniPOS eliminates the cost and risks of handling cash and disruption of businesses for trips to the Bank, increases sales by increasing payment options, enhances accountability and maintains audit trail, and offers personalized relationship management by dedicated bank officials assigned to merchants.

To the customers, the MiniPOS machine offers convenience through quick and easy to use payment methods, no extra charges for paying by card, safety by eliminating risks involved as in carrying cash, and also enhances accountability through the ability to monitor personal finances.

National Bank of Malawi Plc (NBM) has given K3 million to the Public Relations Society of Malawi (PRSM) and K2 million to the Renewable Energy Industries Association of Malawi (REIAMA) for their annual conferences in October.

Speaking during the symbolic cheque presentation at NBM towers in Blantyre on Friday, Marketing and Corporate Affairs Manager Akossa Hiwa said the zeal to support PRSM came about after recognizing the vital role effective communication plays in fostering trust, transparency, and engagement with stakeholders.  

“We are inspired by the dedication and passion of the PRSM in advancing the profession. We firmly believe that by investing in the development of PR practitioners, we are investing in the future of our country. The knowledge, skills, and networks forged at events like these are invaluable assets to both individuals and organizations,” said Hiwa.

PRSM Executive member Rachel Kalera Mhango said society is excited and motivated by NBM’s donation towards the 2023 lake conference-themed ‘Complete Communicator’.

“PRSM members should look out for a platform that will give them time to interact, engage, learn, and also develop new ideas in regard to public relations. The society exists to ensure enhancement of professional and ethical standards in public relations and communication in various sectors in Malawi,” said Kalera Mhango.

And to REIAMA, NBM Retail Banking Senior Manager Eric Bob Munthali said the Bank firmly believes in the power of partnerships and the potential of renewable energy to transform Malawi.

“Energy is the lifeblood of the economy and its sustainable development is crucial for the prosperity of Malawi and the realization of the MW2063 agenda. We understand the critical role that the energy sector plays in driving economic growth, creating jobs, and improving the quality of life,” said Munthali.

REIAMA president Soustain Chigalu hailed NBM for the timely assistance towards the 2023 National Energy Conference themed ‘Energy Diversification for Sustainable Development’.   

“As a country, we need to work together, Banks, Renewable energy associations, government, and all sector players to ensure this vision towards Malawi 2063 as well as SDG 7 by 2030 is achieved and people have clean, affordable and sustainable energy,” said Chigalu.

PRSM will hold its 2023 lake conference from October 5 to 7 in Mangochi, while REIAMA will hold its conference in Salima from October 26 to 27. 

Largest alcoholic beverages producer, Castel Malawi has called on Malawians to exercise caution on the roads by among other things, drinking responsibly, to avoid accidents.

Castel Malawi Human Resources and Corporate Affairs Director, Gloria Zimba made the call during the launch of a Road Safety Awareness Campaign in Blantyre on Friday.

The campaign, which will run up to November 2023, comes following a series of defensive driving trainings that the company conducted for its truck drivers, scooter riders, and all employees driving company cars with the hope of reducing accidents in the country.

“We have given the campaign the theme ‘Yendani Bwino Pamseu, Samalani Moyo’ because we are one of the big corporate organizations in Malawi, we are the second tax-payer in Malawi. We have seen and we hear almost every day of road accidents, so we think it’s not on to leave the
initiative of fighting road accidents only to the government.”

“We want to lead in the private sector assisting the government and partnering with the government to talk about road safety because whoever is on the road is a citizen of Malawi, is our customer and is
a breadwinner somewhere, even if they are young, but they have a future ahead of them.”

“We know we are producing, selling and distributing alcoholic beverages which are just there for socializing.

We don’t want people to take that social drink and end up dying because they are of no use to anyone including their families, and country if they die.

 That is why Castel Malawi talks about responsible drinking, responsible driving, being a responsible citizen, even the pedestrian,” she explained.

Chief Road Traffic Officer at the Directorate of Road Traffic and Services, Madalitso Gunsaru commended Castel Malawi for the initiative while calling for the need to comply with road safety rules.

“Castel Malawi has involved us on several occasions to train its Drivers and Scooter Riders in defensive driving. They also supported the National Road Safety Awareness campaign last year in Mzuzu. This
shows their commitment to ensuring that everybody adheres to the rules of the road as we strive to reduce accidents in the country,” he said.

According to Gunsaru, last year the country recorded 1, 068 road fatalities, of which 680 involved motorcyclists, cyclists, and pedestrians.

The campaign by Castel Malawi will target markets and trading centres across the country which are prone to road accidents.

National Bank of Malawi Plc (NBM) has applauded vendors for performing extremely well in Taoloka Finance loan repayment surpassing other  special customer segments.

NBM’s Head of Retail Banking Oswin Kasunda said this during the Bank’s interaction with vendors in Blantyre on Thursday.  

According to Kasunda, the vendors are conducting their accounts well and are able to pay back the loans, saying the Bank has so far only experienced a five-percent default rate.   

“Credit is about risk, in the banking business there is always a risk so if you give out loans you don’t expect to have a 100 percent repayment rate as of now the default rate is about five percent which is  very good and acceptable.”

“Now that the performance is satisfactory as far as the Bank is concerned, it is time we consider extending the package to  other towns. We have already received inquiries from Mangochi, Kasungu,  Mchinji and others so we will now consider  going out of the four cities,” said Kasunda.

Tiyanjane Juma from Limbe Flea Market said when the product was launched in August last year she was in doubt, but now the Taoloka Finance loan has helped boost her business.

“After following all the instructions, the Bank gave me a loan and I can testify my business is no longer the same,” said Juma.

NBM launched the Taoloka Finance product last year, in the country’s four cities of Blantyre, Lilongwe, Mzuzu and Zomba to help vendors have access to financial services through the Bank.

Malawi’s pioneering mobile network and ICT services provider, TNM Plc, has contributed K5 million to the Non-Governmental Organization Regulatory Authority (NGORA) towards the organisation’s 2023 Lakeshore Conference.

This year’s NGORA annual lakeshore conference will be held from 28–29 September, 2023 at Sunbird Nkopola in Mangochi under the theme: 21st Century Boardroom Dynamics: Repositioning the Accountability of NGOs.

Presenting the contribution, TNM Director of Business Services Tawina Dzungu said the mobile telco appreciates the role of NGORA in regulating the NGO industry.

She noted that NGORA’s regulation is helping to bring sanity in the NGO sector in terms of accountability and governance, a development which has turned NGOs into attractive partners for national development efforts with the private sector.

“At TNM, we recognize and appreciate the critical role of NGORA in regulating NGOs in Malawi. As a partner for national development, TNM is working closely with NGO partners to support people at the grassroots level using mobile network technologies such as Mpamba, which through mobile cash transfers, is helping deepen financial inclusion in the remotest parts of the country. Hence our contribution is in line with this position,” said Dzungu.

She said TNM’s partnership with respective NGOs under NGORA is helping to contribute to economic growth through job creation, enterprise development and technology transfer.

The Business Services Director said TNM looks forward to continuing working with NGORA and relevant NGOs in applying mobile technology as a catalyst for economic growth and national development at all sectors.

Chairperson for Non Governmental Organization Regulatory Authority (NGORA) Shadreck Malenga said the upcoming conference is an important platform for NGOs to build capacity in governance and learn new trends in environmental sustainability.

“We are hoping that participants in the conference will be able to incorporate 21st century trends in their operations and be able to see how we can apply them within the Malawian framework and context of Agenda 2063,” he said.

Petroleum Importers Limited (PIL) has moved to scale up the importation of fuel in the country through rail with 11 wagons of petrol offloaded in Blantyre yesterday.

The 11 wagons carried 466,000 litres of petrol and the company says it is expecting another 255,000 litres of the commodity to arrive through rail any day this week.

PIL General Manager Martin Msimuko said PIL, a consortium of oil marketing companies namely Puma Energy, Total Energies, Petroda and Vivo Energy, is also loading 700,000 litres of diesel from Nacala port in Mozambique to be transported through rail.

“We are also in the process of loading close to 3 million litres of petrol to come by trucks from the ports of Beira and Dar es Salaam,” said Msimuko.

He, however, noted that forex remains a significant hurdle in bringing adequate supplies, but said PIL has engaged banks to support the same in ensuring adequate fuel supply in the country.

Malawi has been facing fuel shortages since July due to foreign exchange shortages caused by supply and demand imbalances in the domestic foreign exchange market.

Malawi’s largest alcoholic beverages producer, Castel Malawi engaged its stakeholders in all the three regions of the country where they were trained on due diligence, compliance, and corporate social responsibility strategy.

The training was organized to ensure that the stakeholders adhere to ethical standards, legal requirements, good governance, and operational efficiencies.

Castel Malawi Director of Corporate Affairs Gloria Zimba said they decided to meet its stakeholders, which included business partners and suppliers to ensure that all players are ethical in their business conduct, as  regards compliance to business policies and procedures of Castel Malawi.

“One of the pillars of our Corporate Social Responsibility (CSR) at Castel Malawi is to ‘increase compliance throughout the value chain’ hence, Castel Malawi is committed to provide trainingon the code of conduct, due diligence, as well as to share our CSR strategy.”

“We are happy that we received very good feedback. The sessions went on well in Mzuzu, Lilongwe and Blantyre. We are grateful to our stakeholders for attending these meetings and training sessions. For Castel Malawi, public image on what we are doing in terms of social responsibility projects can influence among other things; our competitive advantage and our corporate reputation.” said Zimba.

On due diligence, Zimba said the participants were briefed on how the procedure has been integrated within the existing processes.

“The participants were taken through the procedure for conducting a Due Diligence Process to identify high risk suppliers as defined in our standards. In addition, participants were given a demonstration on the type of assessment questions that the company uses, the assessment criteria, contractual and support measures taken, in case of non-compliance,” explained Zimba.

Speaking during the stakeholder engagement in Blantyre, Castel Malawi Head of Legal and Company Secretary Chipiliro Kauka said in 2019, the Castel Group introduced a Compliance Program to ensure that its subsidiaries adhere to ethical standards, legal requirements, good governance, and operational efficiency.

She said the Group introduced the Code of Conduct which is applicable to all employees in all subsidiaries but noted that there are some principles which apply to their business partners (Suppliers and Distributors) like Whistleblowing, Conflict of Interest, Bribery and Trading of Influences, Compliance with laws and regulations and others.

Kauka gave several examples where major companies and corporations have been fined and charged hefty amounts, some as far as US$1 billion for non-compliance.

“So, you should know that as our suppliers or business partners, anything you do that is not compliant with the law, may end up affecting us as a company and when we are in trouble, it may mean that you are also in trouble because you will not be able to do business when we are shut down,” said Kauka.

One of the stakeholders Peter Mvalo, who is Sales Manager for Hartfield Investments hailed Castel Malawi for organizing the stakeholders meeting and the training sessions, saying the company is ‘serious’ in its conduct of business by including its partners to be compliant to laws and regulations.

Standard Bank Plc has launched the second cohort of its award-winning SME incubation program, Phuka focusing on agriculture value chain creation in partnership with in partnership with the Centre for Agriculture Transformation (CAT) and Synergy Labs.

The program—now in its second year—will award seed capital of K10 million to the best pitched bankable idea among young Phuka incubates for agribusinesses.

Head of Business and Commercial Banking Graham Chipande said at the launch on Friday in Lilongwe the second cohort will be conducted in partnership with the Centre for Agriculture Transformation (CAT), a science, technology and business incubation hub.

Chipande said the bank’s incubation program aims at empowering small and medium enterprise and equipping them with skills and knowledge to propel their business to greater heights.

“Standard Bank is committed to transform the economic landscape through sectors that contribute to the development of the country. We believe that together we can create a brighter and sustainable future for the agricultural industry. We will continue to be a key driver of Agribusiness value chain in Malawi to enable efficiency of every player in the sector. It is our hope that the innovation around our Phuka Incubator Hub will benefit the industry in the long run. Our call is for all the incubates to make full use of period to ensure sustainability and growth of their businesses,” he said.

He said this year’s incubates will be introduced to investors to help, gain industry experience, mentorship and receive valuable feedback from industry experts.

CAT Executive Director Macloud Nkhoma said incubates and other economic stakeholders need to borrow a leaf from Standard Bank’s initiative of forging partnership aiming to unleash the country’s growth potential. He also called for a shift in mindset by entrepreneurs towards embracing partnerships and profit oriented Joint Ventures.

“Experience shows that most small businesses in Malawi fail to progress because of individualism. Often SMEs do not want to venture in business partnerships, which is bad for progress. This is why I implore upon businesses to consider partnerships because it gives room for more interventions that are successful and sustainable,” he said.

Nkhoma said the Malawi 2063 vision prioritizes agricultural productivity, diversification, and commercialization, which require partnerships to actualize.

“Partnerships will be very crucial and extremely important to catalyze us to achieve this Malawi 2063 vision so that we become a country that is producing, earning forex and succeeding in all that we do,” he said.

Nkhoma said the Africa Continental Free Trade Area (ACFTA) will open a huge market opportunities and Malawi being an agro-based economy there are several opportunities for entrepreneurs to seize.

Through its partnership with the CAT and Synergy Labs, Standard Bank plans to enroll 70 entrepreneurs for the current cohort. To run for six weeks, the cohort will culminate into a Phuka Pitch Night #AgricEdition where the successful pitcher will win K10 million prize money to use as capital in their venture.

FDH Bank plc has given K100 million to the Malawi University of Science and Technology (MUST) for its Endowment Fund meant to support the needy students at the institution.

Speaking during the MUST Back to Campus Charity Golf Tournament on Saturday, FDH Managing Director, Noel Mkulichi said the Bank decided to support the cause because they believe that ‘Education is the most powerful weapon which you can use to change the world and indeed we can all come together and change Malawi and the world by supporting education.’

“FDH Bank Plc has always been committed to supporting education in the country. Under our sustainability program, FDH Cares, we have four pillars; Our People, Our Community, Our Economy, and Our Environment with education falling under Our Community,” said Mkulichi.

Mkulichi further said the Bank works with various stakeholders and aligns with Malawi 2063 and the UN Sustainable Development Goals to propel the country forward through different activities.

“MUST has been our partner for a long time, and we have supported students at the school and various efforts. Partnering with MUST is always a great opportunity for us to achieve mutual objectives and we applaud the role that MUST is playing in the country at large especially during the innovation era we are in,” he said.

He further applauded Vice President Saulos Klaus Chilima and the Malawi Government for various efforts towards improving education in the country as well as MUST Vice Chancellor Dr. Address Malata and her whole management team at MUST for the successful initiatives over the years.

Taking his turn, Chilima, who was the guest of honour at the event, commended the corporate world for the support in ensuring that more students remain in various tertiary institutions.

MUST Endowment Fund was launched in 2017.

Malawi Stock Exchange listed FDH Bank on Friday celebrated its 15-year growth through a parade in Blantyre City.

The Bank opened its doors in 2018 by business mogul Thomson Mpinganjira.

Addressing the staff, customers and other people who joined the parade, FDH Bank’s Head of Human Resources, Chrispin Chikwama touted the 15-year journey saying it has enabled the clients to grow their businesses, employees to pursue and achieve their dreams, and growing the community in which they operate.

“Fifteen years ago, when we opened our first branch, we never imagined we could have the biggest branch network in Malawi, nor list on the Malawi Stock Exchange, and so many other things we have achieved over the years, but here we are now. We have grown from a single branch to 52 branches, from one ATM to 91 ATMs, and from zero to over 6,000 Banki Pakhomo agents.

“In June 2023, we released our half year financial statement with a Profit after Tax of K15 billion from a loss-making position in our first few years; all this could not have happened without the continued support of different stakeholders,” said Chikwama.

He further indicated that the Bank aspires to continue the growth path and stay committed to growing the economy by supporting the corporate clients, SMEs, and retail customers as they pursue their own growth.

“Most importantly, we stay committed to supporting our community through the different sectors of Education, Health, Sports, Environment, and other areas. In this ever-changing environment, we have remained committed to our core values while providing the best financial solutions and services to our clients. We have been committed to growth, we are growing and we will remain committed to growth,” concluded Chikwama.

Early this year, the Bank announced a 97-percent increase in its profit-after-tax for the year ending December 31, 2022 to K22.9 billion.

Malawi’s pioneering mobile network and ICT services provider, TNM Plc, has contributed K3 million towards the Institute of Chartered Accountants (ICAM) lakeshore conference.

The conference, slated from Thursday, September 14-16 2023 is being hosted under the theme: “Creating Value: Building a Sustainable Economy Towards the Malawi 2063” at Sun ‘n’ Sand in Mangochi.

According to Lloyd Gowera, TNM’s Chief Technical Officer, the contribution signifies the telco’s appreciation to the accounting body’s integral role in the development of the country.

“ICAM is our strategic partner which has contributed positively to the growth of the country as well as TNM hence our contribution to ensure sustainability of their impact to the accounting profession and the economy,” said Gowera.

He said the conference agenda adds great value towards attainment of MW2063 vision which speaks to TNM’s purpose of transforming lives.

“Away from managing and interpreting financials, accountants are solutionists because they provide a homegrown approach to grow our businesses and the economy at large. Therefore, the conference is a great step towards achievement of the MW2063 vision,” he said.

TNM believes that ICAM’s conference provides a platform for professionals to share new ideas, measure the successes and assess the contribution of accountants in the country.

Receiving the donation in Blantyre, Noel Zigowa ICAM’s Chief Executive Officer said that the donation cements the mutual relationship between the two institutions. 

“We are grateful to TNM for the kind gesture which will go a long way towards conference preparations. TNM is our long-time partner, and this contribution signifies the growth of our partnership,” said Zigowa.

He has assured Malawians that this year’s conference will be more effective as the discussion will zero-in on the MW2063.

“Malawi is going through turbulent economic environment which could deter progress of development. This year’s conference will equip accountants to be part of the solution and make meaningful contribution towards MW 2063,” he said.

The accounting body is geared towards expounding issues that affect the growth of the economy. In addition, it is expected that further exploration will be made on the effective exploitation of digital solutions to the profession, a an area where TNM is a key enabler.

The guest of honor for this year’s conference is Dr. Thomas Munthali, Director General of National Planning Commission.

NBS Bank Plc has intensified digital transformation by upgrading its mobile banking platform to ensure customers are rewarded accordingly from the EasyBank digital transactions.

On Thursday, the Bank launched the upgraded mobile platform called EasyBank 3.0 (third version) which awards customers points as they transact.

The points can then be redeemed into various prizes, including cash.

NBS Bank Chief Executive Officer (CEO), Kwanele Ngwenya said the innovation targets promotion of digital uptake by giving prices to those with more online transactions and is linked to various payment systems.

“This innovation looks at rewarding our customers who transact on our digital platform. This is driven by the fact that we want our customers to transact on our Easy platform. EasyReward is a value-added solution aimed at encouraging our customers to transact on the digital platform and in that way, it will reduce the queues in the bank, it will give the customer an opportunity to transact in the comfort of their own environment and at the same time winning and getting rewards,” said Ngwenya.

During the launch, the Bank rewarded individuals with the highest transaction at that particular time, where Sparc Systems Limited Managing Director, Wisely Phiri won the grand prize of a Samsung Tablet, while two others won EarPods and other prizes.

Phiri commended NBS Bank for the digital product.

“This is a good innovation in terms of the inclusion of the rewards itself. As a customer who is also in the Information Communication Technology (ICT) business, I am happy because I do not have to experience issues of cash hanging which is not the case with the EazyBank platform by NBS Bank,” he said.

Twelve people have won various prizes in the first bi-weekly draw of the NBS Saving and Win promotion aimed at encouraging a saving culture among the banks’ customers.

The lucky winners from different NBS Service Centres have walked away with branded key holders, t-shirts, and Pens, in the promotion which ends on October 31 this year.

Speaking during the draw on Tuesday, NBS Bank Southern and Eastern Region Cluster Manager Gracious Changaya said the Bank has started yielding results of the promotion as more customers are now depositing and saving money into their accounts.

”We are happy that customers are harking to our plea to ask them to save, the response has been so overwhelming that people are depositing into their savings and current accounts. We urge customers out there to come and save with NBS Bank and stand a chance of winning exciting prizes,” said Changaya.

In the promotion, customers have a chance to win various monthly and bi-weekly prizes such as return air tickets to Lilongwe, Grocery vouchers, bill payments, and branded items among other prizes.

Grand prizes are tiered in three different bands with those depositing K50,000 minimum standing a chance of winning K1 million, those depositing K100,000 to K500,000 winning K3.5 million and lastly band three for those depositing K500,000 above to win K6 million cash prize.

The promotion was launched on June 25, 2023.