Engineer tips govt on project financing

South African based consultant Thom Mdina has advised government to seriously consider project financing if it is to attain its desired socio-economic goals. Project financing is a loan structure that relies primarily on the project’s cash flow for repayment and is particularly attractive to the private sector because they can fund major projects off balance…

Local firms to do 30% of major projects—Govt

  Government will soon be awarding 30 percent of construction works to local contractors, thanks to a new policy that is being spearheaded jointly by the Ministry of Transport and Public Works and National Construction Industrial Council (NCIC). Minister of Transport and Public Works Francis Kasaila said this in Mangochi on Friday on the sidelines…

PCL closes in on fishing business joint partner

To invest K13bn at Maldeco Dual-listed conglomerate Press Corporation Limited (PCL) has revealed plans to invest $23 million (K13 billion) between 2016 and 2017 to transform its operations at the Foods Company Limited, formerly Maldeco in Mangochi. In its published statement accompanying unaudited interim results for the period ended June 30 2015, PCL said the …

Move beyond research, engineers challenged

  Government on Thursday challenged the country’s engineers to move beyond research and development by implementing ideas and theories if the engineering profession is to offer tangible benefits to Malawians. Minister of Education, Science and Technology Emmanuel Fabiano made the challenge at the official opening of this year’s Malawi Institution of Engineers (MIE) Annual Conference…

Eu sugar pricing  big blow—illovo

  Illovo Sugar (Malawi) Limited has said the European Union’s (EU) decision to reduce the price of buying their sugar will limit the quantity they export to the lucrative EU market. The Malawi Stock Exchange (MSE)-listed sugar manufacturer said sugar is now being sold at ex-mill price of below $300 (about K168 000) per tonne.…

New fertiliser firm  to invest k400m

  A new fertiliser company, Urea-Gold Fertiliser Manufacturing, plans to enter the Malawi market with an initial investment of $700 000 (about K392 million), the Malawi Investment and Trade Centre (Mitc) has confirmed. This will be good news for Malawi’s economy which is agro-based and relies heavily on imported fertiliser because the only company that…

Agriculture sector players call for regional fairs

Agriculture sector players have asked government to consider organising agriculture fairs at regional level to increase reach to potential clients. The players participated in the just-ended National Agriculture Fair at Chichiri Trade Fair Grounds in Blantyre last week. Monsanto Malawi sales representative for Southern Region, Dennis Kachikho, in an interview on Sunday, said regional fairs…

Inde Trust donates to Limbe Health Centre

Inde Trust Limited has donated various hospital materials to Limbe Health Centre antenatal clinic valued at K1 million. Making the donation last Tuesday, Inde Trust Chief Executive Officer Peter Lihonga retaliated the company’s commitment to improving the welfare of Malawians. “We know government cannot address all the challenges that the health sector in the country…

Mpinganjira inspires young entrepreneurs

Business mogul Thom Mpinganjira, who is also chief executive officer of FDH Financial Holdings Limited, has advised young and aspiring entrepreneurs to desist from rushing into creating their own businesses before gaining reputation which is an asset for business growth. Mpinganjira said this on Friday in Blantyre during the University of Malawi’s Chancellor College 2015…

Mera in drive to curb counterfeits

Malawi Energy Regulatory Authority (Mera) has said it will open a counterfeit testing centre as one way of curbing the sale of renewable energy and electrical counterfeit products. Mera renewable energy senior engineer Wilfred Kasakula told Business News last week in Blantyre the centre will be established following concerns of increased inflow of counterfeits on…

Development bank unlocksproject finance—PPPC

As government is mulling over the establishment of Malawi Development Bank (MDB), the Public Private Partnership Commission (PPPC) has said unless efforts to establish the bank are stepped up, Malawi will continue to struggle to embrace project financing. PPPC director of legal, contracting and compliance Allison Mbang’ombe said with weak capital markets in Malawi, financing…

Mera cautions illegal electrical installers

The Malawi Energy Regulatory Authority (Mera) has issued a stern warning to illegal electrical installers and electricity pipeline encroachers to refrain from the illegal practice or risk facing the arm of the law. Mera acting chief executive officer Eliasi Hausi issued the warning on Tuesday in Blantyre during a sensitisation workshop on electoral installations with…

Adopt modern technology, govt urges agro players

  Minister of Agriculture, Irrigation and Water Development Allan Chiyembekeza has urged players in the agricultural sector to be innovative and adapt to new technologies. The minister made the call on Thursday at Chichiri Trade Fair Grounds in Blantyre during the official opening of the 12th National Agricultural Fair under the theme Accelerating Agriculture for…

Illovo says Malawi sugar prices competitive

Listed sugar manufacturer Illovo Sugar (Malawi) Limited has said the local sugar price is now competitive among six Sadc countries the Illovo Group operates in because of the depreciation of the kwacha. “At the current exchange rate of K547 [to a dollar], Malawi sugar is selling at one dollar, just as in Zimbabwe whereas in…

Limbe Health Centre appeals for support

Limbe Health Centre has appealed for support from the corporate world in addressing some of the challenges that the facility is facing. Making the appeal on Tuesday, Limbe Health Centre sister-in-charge, Naomi Bowa, said the facility is failing to properly attend to patients due to the problems they are facing. Said Bowa: “We have erratic…

Illovo Malawi hints at establishing new markets

Illovo Sugar (Malawi) Limited has unveiled plans to establish alternative sugar markets in Africa through the recently signed Tripartite Free Trade Area (TFTA). The TFTA brings to three regional economic communities of Common Market for Eastern and Southern Africa (Comesa), East African Community (EAC) and Southern Africa Development Community (Sadc) into a common market from…

TFTA pact in ratification phase

Ministry of Industry and Trade has said the recently signed Tripartite Free Trade Area (TFTA) pact is still under ratification exercise two months after the agreement was signed in Egypt. When asked on the progress Malawi has made since the TFTA pact was signed in June this year, the ministry’s spokesperson, Wiskes Nkombezi, said government…

Harley Reed says lack of capacity costing SMEs

International advisory and knowledge consulting firm Harley Reed has said lack of capacity in logistics, supply chain and finance is hampering small and medium enterprises (SMEs) in realising growth, which is vital in maintaining profitable businesses. Harley Reed manager Louis Uko said in an interview on Friday that SMEs have suffered due to the ineffectiveness…