Auction Holdings rebrands, now called AHL Group
Auction Holdings Limited (AHL), which has been in existence since 1938, yesterday rebranded and changed its name to AHL Group.
As part of the rebranding exercise, the company also changed its logo, which has been in use for close to 80 years.
AHL Group chief executive officer Evans Matabwa said the firm has over the years been identified as a predominantly tobacco marketing company; hence, the need to embark on a strategic mission to diversify its business.
“Today, we are into manufacturing of agricultural chemicals, iron sheets and other steel products,” said Matabwa, at a news conference in Lilongwe announcing the company’s rebranding.
He said AHL Group has diversified because strategically, it cannot rely on one line of business.
Matabwa said globally, the tobacco industry is facing a lot of challenges, citing public smoking ban in some countries coupled with the World Health Organisation’s Framework Convention on Tobacco Control (WHO-FCTC) guidelines and regulations, which seek to abolish tobacco farming.
Said Matabwa: “Through diversification, we have been able to create more jobs. Through local manufacturing, we are making Malawi products that are affordable. We are not abandoning tobacco; we are diversifying along with it.”
Speaking separately, AHL Group chairperson Foster Mulumbe said as part of rebranding, the company will continue to be innovative and promised to produce a wide range of products at affordable costs.
Currently, AHL Group boasts of other subsidiaries, namely Tobacco Investments Limited, Malawi Leaf Company Limited, Agricultural Trading Company, AHL Chemicals and Steel Limited and AHL Commodities Exchange Limited.
