Standard Bank, TEM, Carlsberg in business deal

Malawi Confederation of Chambers of Commerce and Industry (MCCCI) has hailed a four-year business lease deal among Standard Bank, Carlsberg Malawi and TEM.

Under the deal, Standard Bank released money for TEM to produce trucks which are leased out to Carlsberg Malawi for a period of four years.

MCCCI president Matthews Chikankheni applauded the institutions last week when Standard Bank handed over 45 trucks valued at K2.5 billion (about $8.3 million) to Carlsberg.

“The move will boost business of the three companies and we urge others to emulate the example,” said Chikankheni.

He said although the economy is still readjusting itself to shocks and characterised by uncertainty, there is need for a quick rethink on how to move forward.

“For [Standard Bank] to invest in such an amount, it means they believe in the future of this country and we appreciate that gesture,” he said.

The bank’s chairperson, Alex Chitsime, hinted that after four years, Carlsberg Malawi will buy the trucks which are currently being serviced by TEM.

“At the moment, Carlsberg Malawi will be paying us on a monthly basis for four years. The good thing is that [the brewer] will use the vehicles to deliver their products across the country,” he said.

Carlsberg Malawi chief executive officer Abel Chanje said the arrangement will help customers to access their products.

“We had problems to deliver our products, but with this deal, I am confident that all [corners of the country] will be reached,” he said.

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