National Bank of Malawi (NBM) plc Wednesday donated K1.5 million towards this year’s Economics Association of Malawi (ECAMA) annual lake conference slated for November 19-20 this year.
Presenting the cheque in Blantyre, NBM plc Service Centre Manager for Henderson Street Service Centre, Tamara Mtuwa said the conference is coming at a time that the world economy including Malawi’s economy is under intense pressure as a result of the Covid-19 pandemic.
“We are all aware of how the outlook changed in March this year. As we speak, many businesses have closed, companies have undergone both job and pay cuts and the economy world over has taken a knock.”
Thula-We are thankful to NBM plc
“Therefore, as a Bank of the Nation, we feel that it is critical to support our Economists as they deliberate on possible survival strategies for the resuscitation of the economy,” said Mtuwa.
She said the conference is very important, not only to NBM plc but the whole nation as the economists discuss ways and strategies of bouncing back the economy.
“We need to keep abreast with global economic trends but also engage with key stakeholders in government, parastatals, development and international partners, NGOs, micro finance firms, insurance companies and many others who will be a part of this conference,” said Mtuwa.
Receiving the donation, ECAMA Executive member Maleka Thula hailed NBM plc for the donation saying the bank has been a good partner since the establishment of the association in 1999.
“The theme for our conference this year is ‘Going beyond macro-economic stability; the need for building resilience to external shocks. We know that after the Covid-19 pandemic we needed to sit down and discuss the state of our economy because we know that if the economy thrives, the banking or financial sector will also do well. So we are very thankful to NBM plc for this donation towards our conference,” said Thula.
Kaunda:The Bank is running the promotion as one way of helping customers embrace cashless transactions
National Bank of Malawi (NBM) plc has partnered with retail giants Shoprite and PEP stores to run the Go Cashless and Win promotion in which customers will win shopping vouchers worth K4 million if they use their NBM plc visa cards at NBM plc Point of Sale (POS) devices to pay for goods and services in the two retail stores.
NBM plc Head of Digital Banking Services William Kaunda said the Bank is running the promotion as one way of helping customers embrace cashless transactions.
“We would like to remind our customers of the convenience and safety that cashless shopping brings. In the awake of Covid-19, we have been encouraging our customers to transact via our digital platforms a lot more. This includes the use of cards when purchasing their products either in Shoprite or PEP Stores,” said Kaunda.
PEP Malawi General Manager Obino Mwamba said they are excited with the promotion and that it would increase traffic to their shops as customers have a chance of winning amazing prizes in the promotion.
“We are extremely happy to partner with National Bank of Malawi plc and look forward to welcoming more customers into our stores. As a brand whose customers are central to all that we do, we are excited for the opportunity to present this promotion to our remarkable customers,” said Mwamba.
Shoprite Malawi Manager Mutana Aneru said they too are excited with the promotion.
“We have also allowed NBM plc to deploy their in-store branding within Shoprite to provide customers with adequate information on how to take part in the promotion,” said Aneru.
The Go Cashless and Win promotion is scheduled to run for two months with 4 fortnightly draws where at each draw; 10 winners will cart home Shoprite or PEP Stores shopping vouchers worth K100,000 each.
There is a new rubble of a systematic looting of public money right from State House in cohort with Crossroads Hotel in the Capital Lilongwe which has so far seen the tax payer defrauded K65 million in bogus accommodation charges .
President Lazarus Chakwera came to power less than five months ago–promising so many good things including ending theft of public resources and corruption.
But it has been exposed within the State House the gruesome theft by the new administration and at the center of the whole scheme are State House Chief of Staff Prince Kapondangaga and Director of Finance Gedion Kalumbu who have connived with one Kiza Aziz Elias–who is posing as an agent hosting three “Israeli security agents” at Crossroads Hotel at the expense of the tax payer.
The Israelis, reveals the source, are purportedly in the country to train Malawi Police Service (MPs) Malawi Defense Force (MDF), National Intelligence Service (NIS) and President Chakwera’s private security detail some finer details for Very Important Persons (VIP) close protection in order to defend the new president.
The Jerusalem security experts have also been to Zimbabwe to train the State operatives. Kiza Aziz Elias–whom the information we have also described as Miguel Elias, has his particulars as follows; born 1st of January 1972, trading as Chitundu Distributers, P O Box 1766, Blantyre.
He has been lodging at Crossroads Hotel with the said “Israelis” from the 5th of July 2020. “The other room is booked in the name of Mr Zora who is a fictitious and non-existence person because Zora is the name of Mr Miguel Elias child in Blantyre.
“The other occupant is Mr Mitha who happens to be Elias mother’s brother, but is nowhere near Crossroads Hotel. And the third person is Mr Eugenia Molera who happens to be the maiden name of his wife. In short, Mr Eugenia Molera does not exist, he is a bogus character,” states in part the information we have.
The source then goes on to reveal that State House is paying a whopping 300 US Dollars, an equivalent of MK240, 000 per room when the real price of a room at Crossroads is at MK77, 000.
“State House is paying for such dubious expenses meaning taxpayers are parting away with $ 1,200 or MK960, 000 per night for the four rooms. The whole thing is a hoax as it is a money-spinning venture for Kapondangaga and Kalumbu who have connived with Kiza Aziz Elias to externalize forex using the hotel hence the decision to charge the rooms in dollars and hike the price by over 300 percent to make quick money,” reveals the source.
According to the information we have, State House has so far spent MK65 million kwacha on these bogus accommodation payments.
“Every week, such invoices are raised and State House parts away with close to MK6.2m and this amount is thus paid in cash to Mr Miguel Elias. Other than the above, every week State House has to part away with close to MK5.1 million meant for car rentals and stipend for per diem.
“From July 5, the proposed training has been shifting goal posts that have not had any bearing on the tax payers’ money. As a consequence of this, Mr Kiza Elias has bought a Range Rover registration number BW9991 at a cost of MK25m. In addition, he bought another Land Cruiser, brown in colour, and a speed boat, all which are being kept at Crossroads Hotel,” said our source.
Kapondangaga, a former Farmers Union of Malawi Chief Executive Officer, is reportedly masterminding all this behind the knowledge of President Lazarus Chakwera.
Meanwhile, we have also learnt that State House bought 14 laptops at MK4 million each from a company known as Roehampton Barnes in Lilongwe’s Central Business District. We will provide more details on this later.
Sports Minister Ulemu Msungama cutting a ribbon to mark the official launch of Hockey Stadium
Minister of Youth and Sports Ulemu Msungama on Sunday commissioned the multi-million Hockey Stadium project with a plan for Malawi to host Africa Hockey Club Championship.
Msungama was speaking during the official inauguration of a magnificent Hockey Stadium located at Kamuzu Upper Stadium in Blantyre.
The Hockey Stadium launch comes 4 years down the line after the project was awarded to the country.
Msungama said the Pitch will help improve the standards of the sport in the country.
“As government we are very delighted having this pitch operational here in Blantyre. Government is very committed to support all sport activities in the country.
The coming in of this pitch will improve the standards of Hockey in Malawi ,the good example is that , Malawi next year will host African clubs competition this is quite good development,” said Msungama
The Minister further promised to push for funding allocation in the mid year budget review to complete the construction of dressing rooms at the stadium.
“With the competition ahead of us there is need for funding to complete some of the works remaining here. My ministry will do what it takes to source more money so that this stadium should have all the requirements,” he added
In his remarks, President for African Hockey Federation, Seif Ahmed urged all stakeholders involved in hockey sport to create a marketing strategy in sourcing money which will be used for maintaining the facility.
“It was our dream as African Federation of Hockey and Hockey Association of Malawi ,we dream a lot and now it has come true .I want to see more youths in the country embracing the pitch because turf without activities it is nothing. I want to see local leagues and African Federation events taking place.
“ Let me urge authorities to start planning now on how to source money to buy another turf once the current one expires in 10 years to come, “ Ahmed said
General Secretary for Hockey Association of Malawi (HAM) Dr. Lameck Hiwa said they will set up a committee which will be handling all activities at the stadium in accordance with the guidelines.
“We have already planned on how the facility will be looked into in terms of maintenance of the pitch and preventing it from vandalism,” Hiwa said
Clifton Civil and Building contractors constructed the stadium and Germany based turf installation experts laid the turf-sent by the Federation International in Charge.
In 2016 Hockey Association of Malawi (Ham) won the International Hockey Federation (FIH)’s Pablo Negro Award worth K285 million ($400, 000) which goes towards to the installation of an AstroTurf and floodlights at the National Hockey Stadium.
Former First Lady Callista Mutharika on Saturday who became the latest prominent figure to campaign for the UTM Party candidate for the November 10 by-election in Karonga Central Constituency has urged people in the area to vote for the party’s candidate for continued development in the constituency.
Mutharika said this to the mammoth crowd that gathered at Lupembe primary school ground.
The former First Lady said the august house requires a person who is well acquainted with parliamentary proceedings so that he connects with development partners for development to flourish, saying it is Frank Mwenifumbo has all the qualities and experience.
“Mwenifumbo has served you before as a Member of Parliament. Mwenifumbo has served you before as a cabinet minister. Therefore, he knows doors to knock for development. That is why we are urging you to vote for him on November 10 so that he continues from where he stopped,” Mutharika said.
Mutharika further said once Mwenifumbo is voted in office, he will bring good road network in the area, portable water and make sure that drugs are available in the area’s health facilities.
On his part, the part’s regional governor Moses Mlenga touted Mwenifumbo as an experienced and seasoned politician who has the passion of Karonga people at heart in terms of social amenities.
Taking her turn, UTM Party executive member Chinthu Phiri said the caliber of Mwenifumbo lies in his strength to articulate issues that are beneficial to electorates, saying he stood firm against the refugee camp in the area.
She said: “Mwenifumbo’s passion for his people cannot be over emphasized. He has the people at his heart owing to his strong stand against the Katili refugees’ camp. He vehemently said no to that. That is why we are imploring you to vote for him”.
While Mwenifumbo described his candidature as a calling to serve his people through various developments to change the socio economic face of Karonga Central and Karonga district as a whole, saying he has always committed his resources to developing the area even before becoming a Parliamentarian.
At the event, Mutharika who strongly spoke against use of money to induce voters donated K200, 000 to group village headman Kayuni for what she said is for development.
Conglomerate Press Corporation plc has given K3 million to Media Council of Malawi (MCM) for revamping its secretariat. The money will be used for office logistics and equipment including the in-house printing of accreditation cards for journalists.
Presenting the cheque in Blantyre on Wednesday, Press Corporation plc General Counsel Benard Ndau said they decided to respond positively to MCM’s request because as a company, Press Corporation plc believes in media freedom and transparency and the promotion of ethical standards in the media.
“We noted that Media Council has been on and off for some time and when we received this request we thought this is the best time of helping resuscitating the organization which plays a critical role of raising the profile and standards of the journalism profession which is self-regulating,” said Ndau.
He said PCL, which is listed on the Malawi Stock Exchange (MSE) and is also regulated under the Companies Act, gives out information to its shareholders and would want to deal with professional journalists who have been accredited by MCM.
“You will agree with me that there is a lot of fake news out there which has even affected us and some of our subsidiary companies churned by mostly people masquerading as journalists. We believe that if we start dealing with journalists who have been correctly accredited by MCM, we will deal with this proliferation of fake news,” said Ndau.
Ndau also said PCL supports the introduction of the Access to Information (ATI) law saying although the law mainly deals with public organisations, PCL as a public listed company will freely give out relevant information to its shareholders and stakeholders mainly in the spirit of the supreme law of the land, the constitution which provides for access to information.
Receiving the donation, MCM Chairman Wisdom Chimgwede thanked PCL for being the first company to respond positively to their call of resuscitating the activities of MCM.
“We thank Press Corporation for quickly responding to our request. This donation will help to advance media standards in the country because we will be printing accreditation cards on our own thereby saving resources. The country should be assured that only ethical journalists will be practicing ethical journalism because they will be accredited by MCM,” said Chimgwede.
He appealed to media houses and journalists to be accredited by MCM in order to protect the reputation of journalism in the country which he said is being damaged by other people who charade as journalists and churn fake news in the process.
In the spirit of accountability, MCM brought the equipment to the function which included a card printer, office printer, a laptop and a desktop bought by the K3 million donation from Press Corporation plc.
Illovo Sugar Malawi has launched a new consumer promotion dubbed ‘Iponyereni kwakuya ndi Illovo’ which will see winners getting various prizes valued at a whopping K100 million.
Launching the promotion in Blantyre on Friday, Illovo Sugar Malawi plc Managing Director Lekani Katandula said during the promotion, six lucky winners are expected to go away with six brand new Nissan NP200 pick-ups worth K70.5 million.
Katandula said they decided to come up with the promotion as one way of building value for their customers and consumers.
“The year 2020 has been a challenging year for everyone across the world mostly due to the COVID-19 pandemic. We are well aware of the current, economic difficulties present within all business sectors and this means that we need to be more creative and aggressive in our sales methods and marketing ideas. Tough times are for everyone to get tougher and not use the current climate as a negative block but rather an energizing spring board for new ideas.”
“This is exactly what we have done by relooking at how we build value for our customers and consumers. While most would think that we had reached our peak, I am here today to assure you all that the sky indeed is not the limit,” said Katandula.
The promotion has been categorized in four namely stockists, grocers and table tops, mystery shopper activation and supermarket promotion.
The stockist promotion is open to wholesalers who buy Illovo Tseketseke sugar in bulk and on – sell bale’s to groceries and table tops and to enter the competition participants must purchase 2 tons or more of Illovo Tseketseke sugar from an authorised Illovo Sugar Malawi distributor outlet in their district and deposit their MRA receipt in a box with their name and phone number written at the back.
“Two draws will be held in November and December 2020 respectively and in each draw three cars shall be won in each draw,” said Katandula.
The Grocer and table top promotion category is open to all those who buy Illovo Tseketseke sugar in bales and on -sell in pack units to consumers and participants need to purchase two or more bales of Illovo Tseketseke sugar from participating stockists or any Chipiku, Price worth and Agora chain stores and deposit their MRA receipt into an entry box with their name and phone number written at the back.
Katandula: “Two draws will be held in November and December 2020 respectively and in each draw three cars shall be won in each draw
There will be weekly draws and participants have a chance to win either a bicycle or a 50kg bag of Urea fertilizer. There are 261 bicycles worth K8.9 million and 400 50kg bags of fertilizer worth K6.3 Million to be won over a period of 11 weeks and 22 bicycles and 33 50kg bags of fertiliser will be won each week during draws, according to Katandula.
In the mystery shopper activation category, Illovo Sugar Malawi will be deploying a team of brand ambassadors to travel across the country and visit different trading centres and randomly give prizes to shoppers that have purchased Illovo Tseketseke sugar after showing proof of purchase and instant prizes include T-Shirts, Chitenjes, Caps and Shopping bags worth K6 million for a period of eleven weeks.
In the last category of supermarkets promotion, the sugar making company will be deploying a team of brand ambassadors to be stationed in selected Sana, Chipiku, and Shoprite shops across the country and shoppers will be required to buy 3x1kg of Illovo Tseketseke sugar and stand a chance of winning different prizes through a lucky dip or fortune wheel.
The prizes to be given away in this category include Illovo branded Zitenje, Shopping bags, caps, T-Shirts, worth K14.8 million for a period of 3 weeks, at the end of each month in October, November and December 2020, according to Katandula.
In a Mafioso enthused fashion, B Mollande (Former State House Communications Director) aided defrauding the Malawian taxpayer through a construction company called FISD Limited. Under the Project – “Sustainable Rural Water & Sanitation Infrastructure for Improved Health and Livelihood” financed by the African Development Bank (AfDB), FISD signed 2 contracts (Ntcheu and Phalombe): The one for Ntcheu was signed on 12 December 2017 and was expected to be completed by 11 December 2018.
However, none of them have been completed. In fact, the Client, (the Ministry of Irrigation and Water Development) noting that there was no progress, terminated the Ntcheu Contract on 29th May 2019 citing “serious contractual breaches by the contractor”.
The Contract had been extended by 108 calendar days i.e. up to 25th March 2019. Following termination, Mr. Mwenechanya of FISD fully engaged Mollande to move government machinery and sundry (as he used to) to influence the unjustifiable K1.2 billion Kwacha to FISD Co. Ltd.
The architecture of the fiasco is as follows:
1. Although the Contract allowed amicable resolution, using The Dispute Board (set up by NCIC) as first-tire approach, FISD skipped this stage. They leapt straight and sought arbitration with NCIC for what they termed “flawed termination”; to which NCIC nominated QS Chimangafisi, Eng. Kunsinda and Eng. WTM Chirwa. Out of the 3 NCIC nominees, FISD chose Eng. WTM Chirwa to which the Client, Ministry of Water was indifferent.
2. Upon completion of his assignment, Eng. Chirwa declared that the Ministry action to terminate the contract was within the contractual provisions. He, therefore, ordered FISD Co. Ltd to pay the Ministry of Water K281 mil. This payment excluded a duplicate payment of U$375,731.54 done by AfDB.
3. According to the Contract, the Arbitrator’s ruling is final. Therefore, the Ministry had to move to redeem the award, the advance payment, and the Performance Security (K236 mil) from the guarantor (EcoBank). FISD quickly moved by issuing the Attorney General’s office with a Stay Order from the commercial court that set aside the Arbitral Award.
4. The Commercial Court quickly moved to appoint a new arbitrator (Edgar Kachere) on 27th February 2020 contrary to provisions of the Contract that specified that NCIC ought to have done the nominations for another Arbitrator again.
5. Within one months and 10 days of landing the assignment, Cl. Kachere (the new arbitrator), on 31st March 2020, reversed the award; this time in favour of FISD and to the whooping tune of K1.23 billion (comprising K913 mil, as award and K317 mil as interest from 31st July 2019. Note that, with the help of collaborators in the plot, Cl. Kachere arrived at the ward without visiting the site under contention; neither did he engage the Client (Min of Water). Moreover, it did not take place with the knowledge of NCIC, contrary to the provisions in the Contract. All this was happening during the DPP led Government where Mollande was a King.
6. With all the indebtedness that Government has, within 4 months of the flawed award, on 13th August 2020, the Tonse Alliance Government shockingly effected a part payment of K627 mil to FISD; in spite the MoF knowledge that the incumbent AG has moved to contest the award.
Questionable Setting and Reversal of Award
The Contract stipulates that the Arbitration procedures are UNCITRAL which require the hearing to be done with utmost transparency, and at a pre-determined venue and by an arbitrator duly agreed by all parties. However, predictably:
1. The Ministry of Irrigation and Water Development and NCIC were sidelined in the second arbitration process. Judge Manda appointed the new arbitrator and contacted the whole process singlehandedly.
2. An intern (Mr. Kaliza) at the office of the Attorney General also single-handedly oversaw the whole process on behalf of the AG but without his approval and instruction. No wonder even the former AG was incredibly angry upon receiving full scope of the malfeasance
3. It is evident from the proceedings that it was carried out in a closed-door environment by accomplices to the crime. Ironically, Eng. Chirwa’s ruling was copied and pasted, only this time inverted with inflated figures in favour of FISD.
4. Later the former AG sternly warned Mr. Kaliza for taking on an assignment without approval and permission. It is clear from the records that the AG did not act negligently, rather calculatingly, he was bypassed because, in one of his letters to the Court he says “procedurally, when a counsel in the AGs chambers has received a file, he is supposed to consult the Hon. AG himself for directions and seek instructions of the Client.” Mr. Kaliza did none of them but still proceeded to attend to the application.
5. Records indicate that “he orally addressed the Court where he informed the court he was not opposing the application and that he did not oppose the proposal to have Mr. Kachere appointed as Arbitrator without establishing the misconduct of the former Arbitrator Eng. Chirwa”. Moreover, the rule of arbitration demands that parties themselves must agree. All court directions were made in the absence of Ministry of Water
6. The process of part payment of K627 million also bypassed the office Secretary to Treasury. A lawyer in the MoF hurriedly pushed for the payment despite resistance from the AG’s office. It moved amazingly fast, ostensibly under duress from Mollande and DPP beneficiaries who initiated the scum.
Plans to Perpetuate the Scheme
While the Contract in Ntcheu is in limbo (terminated and contested), the one in Phalombe is at stand-still. With no sign that it will be completed in the near future. This is how FISD played the chess game:
1. In March 2020, using Bright Molande (a trusted friend of Mr. Mwenechanya and beneficially of many Government fraud schemes) to bully the then Chief Secretary, installed Henry Njoloma as Principal Secretary for Water (a DPP cadet and former director at FISD). In this way he would be assured that the Ministry’s support is bolstered, and the fraud is perpetrated. Indeed, Njoloma’s hands are tied such that he cannot even decide on a straightforward case of FISD’s failure to perform in Phalombe. It is clear that the next FISD windfall will be for the Phalombe Project.
2. Just before the change of Government, Mr. Mwenechanya quickly switched allegiance from DPP to Tonse. Using the Tonse Alliance Minister, he has now secured a placement as a Board Member at NCIC. The main objective of him sitting at NCIC Board is to control any future disputes, ostensibly, serving the old guard in the process.
Pertinent Questions
1. After the termination of the Ntcheu contract, Mr. Mwenechanya (without consulting the Client) engaged NCIC to commission an Arbitration process. However, according to the Contract, mediation by an NCIC constituted Dispute Board (DB) would be the first step in dispute resolution. What would have motivated him to skip an especially important contractual procedure and how and who did he convince at NCIC?
2. Albeit the palpable gaffe in skipping amicable resolution, NCIC went ahead to nominate 3 potential arbitrators. Mr Mwenechanya captured the selection process. His preferred arbitrator was Eng. Chirwa because he thought he was weak. Was the Ministry of Water indifferent to his choice all the while?
3. Upon Eng. Chirwa’s determination for FISD to pay Ministry of Water K281 mil, Mr. Mwenechanya sought “a stay order’ the commercial court for it not to be enforced and eventually to be invalidated through Cl. Wapona Kita. Predictably, the application landed on the desk of Judge Manda. History has it that where the 2 have been pair-bonded, the outcomes have been preposterously questionable. At this point there was already a congenial water PS, Njoloma. What was remaining on the jig-saw was signing-up like-minded people; Viz – 1) someone malleable from AG’s office who would represent Water (not the AG himself), 2) a new harmonious lawyer as a new Arbitrator. They identified an intern, Kaliza, from AGs office, Cl. Edgar Kachere as arbitrator (without involving or advising the NCIC or indeed the client, whatsoever). How could they have imagined that this process would be acceptable to the AfDB who are the financiers, even though the Water PS supposedly accepted it?
4. Cl. Kachere neither bothered to visit the contested site, nor did he meet the Ministry of Water. The argument was that the available documents (including those prepared by Eng. Chirwa) had utility to bring a fair conclusion. If one juxtaposes his ruling against the one from Eng. Chirwa, one sees that he just changed semantics i.e. where Eng. Chirwa determined the Contractor was in the wrong, Cl. Kachere determined that it was the Client who was in the wrong. How, did he make a faux-pas determination and the Court accepted it?
5. How did the collaborators get the case heard, judgment passed and part payment of K627 million made by Treasury within a record time of 4 months? Who was the strategic collaborator at treasury since records indicate that the ST is contesting the payment?
6. What happens to the beneficiaries since the funds have been paid and will continue to be paid in spite of no functional water facilities and a closed project?
7. Although the K1.2 billion is not coming from the AfDB (because treasury is paying although unbudgeted for), there is an obligation from the bank to be suspicious about the goings-on. How long will the AfDB remain quiet as their name gets muddled?
8. Meanwhile, Mollande (the chief strategist) remains the biggest beneficiary. For how long will the Tonse Alliance procrastinate on their promise to drain the swamp?
We should not allow this in the new Malawi. Let us all expose this and ensure that perpetrators are brought to book. See attached documents for further details
The centre cannot hold. There is confusion in the opposition Democratic Progressive Party (DPP)where a mere Executive Member Joseph Mwanamvekha has ordered the firing of Party’s Regional Governor for the Southern Region Charles Mchacha and the entire regional committee.
The out-spoken Mchacha and the entire committee are being accused of supporting Kondwani Nankumwa, who is Party’s Vice President for the south and Leader of Opposition in Parliament. The courts issued an injunction against the firing of Nankhumwa and others after the party fired them, allegedly for indiscipline.
According to sources within Mwanamvekha Camp, Mchacha has been replaced by James Chuma who is a businessperson and close ally of Mwanamvekha and also an executive member for the former governing party.
The old guard, Mwanamvekha who was recently appointed by Mutharika to replace Nankhumwa as VP South also ordered the firing of Yona Mlotha as DPP’s Director for the Youth and his replacement will be made soon thus according to inside sources.
The firing of Mchacha and Mlotha is in sharp contrast of the court injunction restraining the Party from firing some of its members who were duly elected during convention.
The court also restrained the party from making decisions on behalf of the party an order which he has openly been defied.
DPP is synonymous with disrespecting court orders even when it was a ruling party. Contempt of court proceedings are likely to follow and insiders in the Judiciary said it is high time some politicians are jailed for disrespecting court orders to serve as a warning to the citizens on the need to obey court orders.
Buitelaar listens to a question during the presentation
TNM Chief Executive Officer Michiel Buitelaar has challenged banks that they may have to do away with brick and mortar to serve their customers in future because of digital transformation.
Presenting a paper on ‘Digital Transformation in consumer industries’ at the 5th Bankers Conference 2020 on Thursday in Blantyre, Buitelaar gave an example of a bank called Knab in his home country Netherlands which has no branches and buildings but offers superb services to its customers through digital means.
“Software is eating the world in all sorts. I used to work for an old-style financial institution in my home country. It created a new bank called Knab, it has no branches or buildings but it gives excellent service to its customers. With the digital transformation, this can also happen here in Malawi, I am not saying it will happen now but there will be a time that this will happen,” said Buitelaar.
He also gave another example of an all-digital insurance company called Lemonade that is making great strides in the United States of America.
Buitelaar also said service companies will be able to offer personalized offers to customers through digital means and appealed to Malawian service providers to embrace this.
Buitelaar said some cynics may say that Malawi cannot achieve digital transformation because of low broadband penetration, low Internet penetration, low electricity penetration, low income and low digital literacy.
“But Malawians are not so different, they are embracing the internet. There are opportunities for Malawi in that there is limited legacy and these are early days with a young population that possess vast skills which may have big impact on sectors of the economy,” said Buitelaar.
Opening the conference, Guest of Honour who is also Reserve Bank of Malawi (RBM) Governor Dr Wilson Banda bemoaned the effects of Covid-19 pandemic and thanked banks for standing with RBM to provide relief to customers and businesses during the difficult time.
“The banking sector is pivotal in driving economic recovery and securing future stability by providing finance. However, is our service delivery amidst these conditions supportive to this role, more especially to the segment driving the economy-The SMEs? What about the common man at the bottom. Can we do it any differently?”
“These and many more questions ought not be avoided, but addressed to inform the future of the banking and the economy of Malawi. Covid-19 has redefined the environment, leaving limited room for conventional business models. Therefore, the path we take, shall inform the growth trajectory and adaptability of our economy to future shocks which are certain to come; and that future is now,” said Banda.
