Tags: Malawi Stock Exchange

Standard Bank Malawi sustains profit momentum

  Despite a difficult operating environment characterised by high interest and inflation rates, which hampered borrowing and consumption, Standard Bank Malawi says it will sustain its healthy profit record. In 2014, the Malawi Stock Exchange (MSE)-listed bank recorded an increase in profit after-tax to K12.2 billion (US$27.1 million), according to the bank’s annual report released…

TNM sees profit surge 90%, scoops Marketing Excellence awards

Malawi mobile network provider TNM has forecast its 2014 profit to jump 90 percent above last year and is celebrating scooping two top Marketing Excellence awards. The strong financial performance corresponds with excellence in marketing as TNM has collected two awards at this year’s Chartered Institute of Marketers (CIM) annual awards, the second consecutive year…

Nico General eyes 45% market share

Nico General Insurance Company, a subsidiary of Malawi Stock Exchange (MSE)-listed financial services group Nico Holdings Limited, has touted 2014 as a good year for business and plans to grow its market share next year to 45 percent from 33 percent. The insurance firm, according to its chief executive officer Eric Chapola, said in the…

Harnessing resource wealth to reduce poverty

It is not always good news for natural resource-rich countries. Apart from environment degradation—dust and oil spills—the money from the lucrative extractive industry may all disappear to the foreign companies leaving locals even poorer. However, analysts argue that citizens stand to benefit from wealth in natural resources, including oil, gas and minerals if countries ensure…

Activist for local participation in extractive sectors

Malawi’s laws should clearly stipulate how the country engages with investors in the extractive industry—minerals, oil and gas—by providing for local participation and to avoid suspicion of corruption. Speaking in a telephone interview on Sunday, in relation to the review of the Minerals and Mines Act 1981, the Institute for Policy Interaction (IPI) executive director…

Two counters register gain on MSE

Sunbird Tourism Limited and National Investment Trust Limited (Nitl) gained in share prices last week, pushing up the local bourse’s two indices, the indicative Malawi All Share Index (Masi) and the domestic share index. But despite not gaining in value, Standard Bank exhibited notable demand for its shares, according to market analysts, largely because of…

TNM tariffs rise 14%

Malawi Stock Exchange (MSE)-listed mobile telephone service provider TNM plc has announced an average 14 percent increase in tariffs effective May 1. A published press statement indicates that TNM to TNM calls will be charged at K72 per minute while tariffs for calls to other networks have risen to K90 per minute. Text messages will…

Bullish stock market rakes in K15.95 million

The country’s only bourse, the Malawi Stock Exchange (MSE) was bullish last week with National Bank and Press Corporation Limited (PCL) registering share price gains. According to the MSE, National Bank share price rose by K0.90 from K227 to K227.90 while PCL share price gained K0.45 from K310.15 to K310.60. Due to the price gains,…