Thursday, March 28
Shadow

Business

Hope rises for exporting firms

Business, Exclusive, Featured, News
About 150 local small and medium enterprises (SMEs) in export trade have been earmarked to benefit from the $10 million (about K17.5 billion) Africa Trade Exchange (Atex) finacing facility to export their goods to African and Caribbean markets. The move, courtesy of Egypt-based African Export and Import Bank (Afreximbank) and home-grown FDH Bank plc, which was sealed during the Third Intra-African Trade Fairs in Cairo in November last year, is expected to boost foreign exchange inflows as Malawi continues to grapple with forex scarcity. Mkulichi: We will reach out to more SMEs Speaking on the sidelines an Atex breakfast engagement in Blantyre yesterday, FDH Bank plc managing director Noel Mkulichi said the Malawi Stock Exchange-listed bank is hoping to reach out to more SMEs and ...
FDH Bank says Atex critical platform for business growth

FDH Bank says Atex critical platform for business growth

Business, News
FDH Bank plc says their partnership with Egypt -based Africa Export and Import Bank (Afreximbank) through the African Trade Exchange (Atex) is a critical platform for growth of local businesses and the economy. In a statement following the FDH Bank plc-Atex Customer Breakfast in Lilongwe, the bank’s managing director Noel Mkulichi said as a token of appreciation and a symbol of their commitment, the bank is offering an opportunity to connect local businesses with international importers and exporters, paving the way for fruitful partnerships. He said: “As a bank that champions growth, we look at this as a great avenue for growth of your businesses and the country at large. “The Malawi 2063 aims to transform Malawi into a wealthy and self-reliant industrialised upper-middle-income...
Nyumba Ya Malamulo Yakambirana Za Chamba

Nyumba Ya Malamulo Yakambirana Za Chamba

Business, Local
Aphungu akambirana ndi kuvomereza kuti pakhale lamulo loloreza dziko lino kumalima fodya wa mkulu wa chamba. Aphunguwa avomerezana kuti kulima mbewuyi kuthandiza kuti dziko lino lidzipeza ndalama zochuluka. Phungu wa ku m'mwera kwa Lilongwe a Peter Dimba ndi omwe anabweretsa nkhaniyi m'nyumbayi. Kwa nthawi yaitali pakhala pali lingaliro loloreza ulimi wa chamba-wu omwe ambiri akhala akunena kuti uli ndi kuthekera kotengera chuma cha dziko lino patsogolo. Asanakambirane nkuvomerezana izi aphunguwa , kupezeka ukulima mbewuyi umakhala mlandu omwe anthu ambiri akugwira nawo jele m'ndende zosiyanasiyana m'dziko muno.
Ndalama Ya Kwacha Yagwanso Mphamvu Ndi 3 Kwacha Pa 100 Iliyonse

Ndalama Ya Kwacha Yagwanso Mphamvu Ndi 3 Kwacha Pa 100 Iliyonse

Business, Exclusive, Local
Ndalama ya kwacha yagwaso mphavu ndi 3 kwacha pa 100 kwacha iliyonse. Ndipo pakanali pano ndalama ya ku America ya Dollar ikugulidwa pa K1751. Banki yaikulu m'dziko muno ya Reserve yatsimikiza za izi. Mbuyomu ndalama ya Dollar ya ku America imagulidwa pa mtengo wa k1700. Chaka chatha ndalama ya kwacha inagwetsedwa mphavu ndi 44 kwacha pa 100 kwacha iliyonse.
Kwacha depreciates by 3%

Kwacha depreciates by 3%

Business, News
The Malawi kwacha has depreciated by three percent and will now be trading at K1 751 to dollar following foreign exchange auction conducted by the Reserve Bank of Malawi on Monday. In a communication to authorised dealer banks dated March 19 2024, the RBM said the forex auction in which four banks participated, was successful. The RBM said the minimum selling price of the kwacha against the dollar will now be at K1 751. Before the auction, the kwacha was trading at K1 700 against the dollar. RBM spokesperson Mark Lungu confirmed the auction took place.
Embassies To Find Markets For Local Producers

Embassies To Find Markets For Local Producers

Business, International, World News
Entrepreneur Kondwani Kachamba Ngwira has urged government to utilise the country's embassies across the globe to find markets for local producers. Speaking during the Buy Malawi Day Fair underway at Gateway Mall in Lilongwe, he said local entrepreneurs have shown time and again, that they are capable of producing top quality products but are let down by government. "Malawi has power. Look at the products displayed here today. There is no substandard product displayed here. We have demonstrated time and again that we are capable of producing quality products. But despite this, local entrepreneurs have failed to find markets. We have trade fairs and agriculture fairs every year but nothing comes out of these. "Let's borrow a strategy from China and India who use their embassies ac...
Inflation rate eases to33.5%, food prices down

Inflation rate eases to33.5%, food prices down

Business, News
Malawi’s year-on-year headline inflation rate for February 2024 eased by 1.5 percentage points to 33.5 percent due to a drop in food prices despite non-food prices slightly increasing, National Statistical Office (NSO) figures show. This means that prices of goods and services in the month under review increased at a decreasing pace. NSO further said food inflation dropped to 42 percent in February from 44.9 percent the previous month while non-food inflation slightly increased by 0.1 percentage points from 22 percent in January to 22.1 percent in February. “The national month-to-month inflation rate for February 2024 stands at 2.2 percent. Food inflation rate is at 2.4 percent while non-food inflation rate is at 1.8 percent,” reads the NSO statement. On the other hand, the ru...
Mulli Urged To Expand Business In Africa

Mulli Urged To Expand Business In Africa

Business, Featured, Lifestyle
Malawi's highly celebrated business mogul, Leston Mulli has been urged to open more tea factories in various African countries as a way of promoting the continental economy. The call has been made by the former president of Nigeria, His Excellency Goodluck Jonathan when the two had an interface meeting on 10 this month. According to Jonathan, Mulli who is also the Managing Director for Mulli Brothers Limited (MBL Holdings) is doing a commendable job in African economic space, hence a need to expand his business. The call comes barely few days another former president of Nigeria, Olusgun Obasanja made a similar appeal to Malawi's local business magnet. On other hand, Mulli has given jobs to countless Malawians through his local companies. In the past few days, the business m...
FDH Bank Is The First Bank To Open Branch On The Likoma Island

FDH Bank Is The First Bank To Open Branch On The Likoma Island

Business, National, Stories
First Discount House (FDH) Bank on Monday officially opened a banking facility in Likoma, becoming the first bank to open a branch in the island district. Speaking during the official opening of the bank, Minister of Finance Simplex Chithyola Banda commended FDH bank for the facility, saying it will help to improve socio-economic wellbeing of people in the district. “I would like to appeal to people in the district to take advantage of the bank to improve their socio-economic wellbeing through safe keeping of their savings, borrowing to expand their businesses and accessing insurance services in case of eventualities, among others,” said Banda. He said the bank has shown that it is a true and reliable government partner as it has spearheaded various development initiatives th...
FDH Bank To Open Branch At Likoma Island

FDH Bank To Open Branch At Likoma Island

Business, National
Smiles as FDH Bank Plc is shipping its first ever banking infrastructure due to be launched in Likoma today, becoming the first institution to introduce banking services on the Island. This also addresses decades of struggle among the people there to access the banking services in the mainland. Minister of finance Simplex Chithyola Banda and FDH bank Plc board chairperson Ms.Charity Mseka are among other high profile dignitaries expected to grace the occasion. The establishment of FDH bank Plc branch is expected to create convenience to the Island customers who will no longer be spending a lot on transport, food and accommodation when sailing out to the mainland to seek such services.
President Lazarus Chakwera has officially opened the Blantyre International Cancer Centre, The private health facility, has been constructed by the Thomson and Barbara Mpinganjira Foundation