Over K400m mobilised under MSB promo

Over 5 000 special savings accounts were opened with over K400 million mobilised under Malawi Savings Bank (MSB) special savings promotion. MSB marketing and corporate affairs manager, Brenda Chilima indicated that through the promotion, the bank offered its customers a platform not only to save money and gain 12 percent interest on their savings but…

Masm membership declines 11%

Medical Aid Society of Malawi (Masm) registered a decline in membership from 125 474 in 2011 to 111 110 at the close of the year in December 2012, but the body is hopeful the situation will change in 2013 with the economic recovery projections. Masm board chairperson Evans Matabwa, speaking at the society’s 29th annual…

Lack of credit access crippling businesses

Government hopes that the findings of the Micro, Small and Medium Enterprises (MSME) survey will help in addressing challenges small-scale businesses face in the country. The Finscope MSME Survey 2012 was conducted to understand the environment in which small businesses are operating, assess their competitiveness and identify challenges affecting business growth and profitability. The survey…

Cisanet takes agriculture ministry to task

The Civil Society Agriculture Network (Cisanet) has suggested that the Farm Input Subsidy Programme (Fisp) fertiliser bag be sold at 60 percent of the prevailing market prices. According to Cisanet, this will ensure sustainability of the programme unlike selling a 50 kilogramme bag at K500 regardless of the market price as is the case now.…

Standard Bank awarded company of the year

Central African Stock Exchanges (Case) has given Standard Bank the 2012 Company of the Year award for its 100 percent profit in the 2012 financial year and the 60 percent increase in profit from the previous year, among others. The award was given on Friday at the launch of the Case Handbook whose publication has…

Making a living through hairdressing

Life has changed a lot since 33-year-old Tikambenji Kadondwe started her business in 2010. Back then, she plaited hair from home in Chilobwe Township in Malawi’s commercial city of Blantyre with her older sister from whom she copied the skill and gradually people started getting used to their work and their clientele grew. “This is…

For four years running, Malawi is still the biggest contributor to Illovo Sugar Group’s operating profit, with its contribution accounting for 47 percent, the group’s preliminary report for the year ended March 31 2013 has shown. According to the report, Malawi is trailed by neighbouring Zambia 25 percent, South Africa nine percent, Swaziland eight percent,…