Project to boost ethanol output

  Two ethanol-producing firms are optimistic of dealing with constraints caused by the scarcity of molasses through the $100 million (K73 billion) Raw Materials (Rama) project. The dual-listed Press Corporation Limited (PCL) subsidiaries—Chikwawa-based Presscane Limited and Ethanol Company Limited (EthCo) based in Nkhotakota—buy molasses from listed Illovo Sugar (Malawi) plc and ferment it into ethanol…

Empowering women through art

  Visual artist Enelless Pemba Phiri will start training women through her initiative Anthu Aluso to empower women with the education and training they need in art to break the circle of poverty. The artist believes art has the power to elevate women, especially those living in impoverished and isolated communities. She said: “It has…

MTL explains shift from mobile phone business

  Malawi Telecommunications Limited (MTL) has faulted the code division multiple access (CDMA)—a channel access method used by various radio communication technologies—saying it was not feasible for its mobile phone business. In an interview on Thursday in Blantyre, MTL chief executive officer Harry Gombachika said the technology was expensive to run; hence, could not compete…

Malata and Cement Subsidy  beneficiaries worry over delay

  Beneficiaries of Decent and Affordable Housing Subsidy Programme (Dahsp) also known as Malata and Cement Subsidy in Chikwawa have expressed concern over the delay to complete their houses due to lack of materials. The government, through Dahsp grants, is constructing five houses in each of the 193 constituencies. Two beneficiaries from Nankumba Village, Traditional…

Deforestation is security risk—Army chief

The Malawi Defence Force (MDF) Commander General Griffin Supuni-Phiri has described the country’s deforestation rate as a security risk affecting MDF operations. He made the remarks at the launch of this year’s National Bank of Malawi plc (NBM) tree planting exercise in Zomba on Saturday. Supuni-Phiri said deforestation is affecting both their training and operations…

Rice output up 8.1%—Aicc

Rice output peaked at 15.2 million tonnes in 2017, representing an increase of 8.1 percent from the previous year owing to favourable weather conditions, according to African Institute of Corporate Citizenship (Aicc). In its recent outlook for the next three months, figures by Aicc—a non-governmental organisation that promotes the role of business development— shows that…

Leather industry sees output jump

Leather Industries Association of Malawi (Liama), an umbrella organisation for leather processing firms, has set a production target of over 52 000 pairs of shoes a year in 2018. This follows the purchase of a leather design studio by the European Union (EU) through the Ministry of Industry, Trade and Tourism. The development comes at…

MBS, SFFRFM tussle over expired fert

Smallholder Farmers Fertiliser Revolving Fund of Malawi (SFFRFM) has blamed the Malawi Bureau of Standards (MBS) of engaging in blame games instead of finding ways of disposing expired fertilisers that has been quarantined for years in warehouses. This comes after MBS called importers, traders and distributors who are still stocking expired products to voluntarily declare…

Inflation averages 12% in 11 months

With November inflation easing to 7.7 percent, Malawi’s headline inflation rate in 11 months from January to November 2017 averaged 12 percent, according to Business Review calculation.  This is within the authorities’ annual target with one month to go before the end of 2017. Treasury, the custodians of fiscal policy, projected that inflation would average…

Smedi lauds SME chamber formation

Small and Medium Enterprise Development Institute (Smedi) has welcomed small and medium enterprise (SMEs)move to form a chamber, saying the body will help small enterprises to be organised. The proposed Malawi Chamber for Small and Medium Businesses Association, expected to roll out early next year, is a brainchild of Small and Medium Enterprise Association (Smea),…

‘Sub-standard products stifle renewable energy drive’

Malawi Energy Regulatory Authority (Mera) has advised consumers to look at other renewable energy sources as permanent solutions not fall-back options. Speaking on Friday in Blantyre at a stakeholder’s sensitisation workshop on renewable energy supply, products quality monitoring and enforcement, Mera director of electricity and renewable energy Welton Saiwa urged consumers to stop using sub-standard…

Nico Asset, expert upbeat on stagnant capital market

Despite the capital markets remaining underdeveloped, Nico Asset Managers chief investment officer Emmanuel Chokani says they see more companies listing on the Malawi Stock Exchange (MSE) to increase investments that can be raised through the bond market. In an interview on Monday on the sidelines of a week-long investment training organised by Nico Asset Managers,…

Tama hails EDF pre-season contracts for rice

  Tobacco Association of Malawi (Tama) chief executive officer Mathews Zulu has hailed Export Development Fund (EDF) for its diversification efforts by offering farmers pre-season contracts to grow rice. But Tama, an association of 200 000 tobacco growers, has cautioned the farmers to understand the contracts before signing. EDF, a development finance institution with a…

Bid rigging affects economy—CFTC

The Competition and Fair Trading Commission (CFTC) says bid rigging in public procurement is affecting the country’s economy as about 80 percent of all economic activities are from government. In his remarks during this year’s commemorations of World Competition Day in Blantyre last week, CFTC board chairperson Daniel Dunga said taxpayers are paying more for…

Sugar import licences Counter buy mw policy

  Ministry of Industry, Trade and Tourism has issued two sugar import licences for 20 000 tonnes, a development that runs counter to the Buy Malawi Strategy and may choke local sugar industry. Already, two sugar manufacturers, Illovo Sugar (Malawi) Plc and Nkhotakota-based Mtalimanja Holdings Limited (MHL) feel this move could potentially kill the local…

ICT vital to economic development, says Ictam

  Information and Communication Technologies Association of Malawi (Ictam) says at a time of slowed growth and continued volatility, ICT is vital in stimulating growth and creating jobs. Ictam president Wisely Phiri said this in reaction to a United Nations (UN) World Intellectual Property Organisation (Wipo) report which notes that intangible capital such as branding,…