PTC – Malawi Freedom Network

People's Trading Center (PTC) has suspended seven of its senior management members for writing a letter which protested the selling of PTC to Tafika Holdings Limited. PTC Chief Executive Officer (CEO) Ferdinand Mchacha has confirmed the suspension of the senior members but denied to give more details; saying it is an internal matter. The seven are, Treasury and Creditors Manager Edgar Chilumpha, Markets Development Manager Chiku Kaphuka, Internal Audit Manager Justin Masanjika, Acting Merchandise Manager Dalitso Chalira, Operations Manager Centre, Dalitso Kazamila, Acting Operations Manager South, Gibson Chimchere and Information Systems Manager, Dennis Mhango. But one of the suspended members who opted for anonymity has told Rainbow that they have been given a 30 days suspension...

■Peoples Trading Center (PTC), a franchise under Press Corporation Limited has been sold to Tafika Holdings Limited which is owned by a South African-based Malawian Arson Malola, FaceofMalawi can confirm. Chief Executive Officer for Peoples-Ferdinand Mchacha has confirmed in an interview with the local press that Tafika Holdings Limited has acquired 100% of the shares in PTC from Press Corporation Limited. The development however comes as for years the franchise has been struggling to raise capital for the smooth running of its operations, which led to the closure of many of its stores. According to Mchacha, the move is aimed at recapitalizing PTC and restoring it to its former glory as well as expanding its operation in the country and beyond the region. “As a company, we have been st...

Tag: PTC

PTC Suspend Seven people

PTC Sold, Employees Protest