Sunday, January 11, 2026
No menu items!
spot_img
Home Blog Page 1644

Chakwera to make a case of Malawi’s develoment agenda at Tanzania summit

0

By Linda Kwanjana


President Lazarus McCarthy Chakwera leaves the country on Tuesday for Dar es Salaam, the United Republic of Tanzania to attend the Human Capital Summit where he is expected to present Malawi’s development aspirations to the global community.

According to communication issued by the Ministry of Foreign Affairs regarding the trip, President Chakwera is expected to depart Kamuzu International Airport around 5pm.

To be held under the theme ‘Investing in people for building a High-productivity, Inclusive, Resilient income’ the summit to will feed into President Chakwera’s desire of having a vibrant human capital to drive the Malawi 2063 agenda.

Malawi has untapped youthful demography which if fully utilised can be used to drive implementation of the development agenda.

President Chakwera



Indeed,as per the press statement, one of the things President Chakwera is likely to tackle at the summit is the issue of youth empowerment which is at the heart of his administration.

It reads:” During deliberations, His Excellency the President will address the summit to promote Malawi’s interests in health, labour, youth empowerment, early childhood development, for the achievement of Malawi 2063 of the African Union, thus potentially unlocking more finances for Malawi in these areaa”

As has been the case when the President has undertaken a foreign trip, it is likely that he will have bilateral meetings with other Heads of State on the sidelines of the summit.There is a possibility that President Chakwera will make a follow-up on some commitments he undertook with the Tanzanian President Samia Suluhu Hassan on a number of issues during President Suluhu’s state visit in Malawi early this month.

Speaking at a joint press briefing which the two leaders held on the last day of President Suluhu’s visit, the two leaders underlined the importance of removing some problems which has for a long time affected business between the two countries.

To show the commitment, the two leaders instructed their Ministers of Trade work together in order to iron out those existing glitches.

Precisely, the prominence of this this day-long summit cannot be overemphasized, and the World Bank’s injection of funds for the holding of the summit underline its importance.

NBM optimistic on Akiba Bank, UGI turn-around strategies

0

By Linda Kwanjana

National Bank of Malawi (NBM) Plc has expressed optimism on turn-around investment for its subsidiaries, Akiba Commercial Bank in Tanzania and United General Insurance Company Limited (UGI) in 2023.

NBM holds 47 percent of UGI’s share capital, and also acquired 60.48 percent shareholding in Akiba Bank in 2021.

However, during NBM’s 2023 Annual General Meeting (AGM) in Blantyre on Thursday, board chairperson Jimmy Lipunga announced an increase in profit-after-tax for the year 2022 of K45.9 billion from K34 billion representing a 34% increase, with the two subsidiaries registering losses.



“When you are acquiring new subsidiaries, the rule of thumb is you start with the unsuccessful ones. You don’t go for good performing entities because you will destroy your capital. So, the best is to go to ailing institutions and then use your capability to turn them around.”

“About Akiba (Commercial Bank), the intention is to improve deposit mobilization, and also minimize the cost of doing business there, as a result of these initiatives we have seen a turn-around and we expect profitability to be returned by the end of 2023. The same is true of United General Insurance company, and tough measures have been put in place likewise. We expect a different story in a year,” said Lipunga.

According to NBM’s financial performance report, Akiba Bank made a loss after tax of K4.072 million in the year ending December 31, 2022, while in 2021 it was K1.942 million which has been attributed to significant increases in provisions for loans and tax.

On NBM’s overall performance, Lipunga also highlighted some factors that caused a turbulent financial environment despite the success registered.

“The growth in 2022 was adversely affected by weather-related shocks in some parts of the country such as erratic rains and cyclones. The country experienced cyclones Ana and Gombe, which came along with heavy rains and subsequent flooding particularly in the southern part of Malawi during the first quarter of 2022.”

“The economy also faced a critical shortage of foreign exchange which precipitated a 25 percent devaluation of the Malawi Kwacha mid-year thereby putting a lot of pressure on inflation. The Russia/Ukraine war which started in February 2022 led to global supply chain challenges and high commodity prices,” explained Lipunga.

Shareholder Emmanuel Chinunda hailed the Bank for the share appreciation which he said has been high in most of the counters.

“This is a stellar performance. They have performed extremely well and we as shareholders are happy with the results,” said Chinunda.

Kunkuyu warns Malawians to never trust DPP again, their tenure in office was characterized by terror

0

By Linda Kwanjana

Firebrand Minister of Information Moses Kunkuyu on Sunday 23 July 2023, sent strong warning to Malawians that they should not trust Democratic Progressive Party (DPP) since memories of how ruthless the party has been during their era are still fresh.

Speaking on Hot Current program on Times Television (TTV), Kunkuyu said its sad that DPP is speaking a lot against this country leadership and yet they are the same people who burnt this country into ashes.

Kunkuyu said DPP leadership was characterized by terror and that during their era most people lost their lives.

Moses Kunkuyu



Kunkuyu gave the examples of how DPP spearheaded the killing of a budding activitist who was also a fourth year Student from Polytechnic currently known as MUBAS , Robert Chasowa.

Chasowa was killed and bundled on the campus drainage and was discovered in the morning by his fellow students.

Kunkuyu reminded Malawians on how DPP party eliminated Anti Corruption Bureau (ACB) director of corporate affairs Issa Njaunju in a mistaken identity. He was found dead near Presidentjal Villas in City Centre while his vehicle was found torched in outskirts of Mtsiriza.

Kunkuyu told Malawians while pointing at DPP Publicity Secretary Shadric Namalomba.

“You are the one who is speaking for Mutharika your party had boys who used to weild pangas at any critique as well as advancing terror. Had it been I am talking this during your era today I would have been gone,” he said.

DPP apart from killing innocent people was also known at threatening and harrassing chiefs.

Chakwera set for Human Capital Summit in Dar es Salaam

0

By Cedric Nkungula

President Dr. Lazarus McCarthy Chakwera will leave the country on Tuesday 25th July 2023 for Tanzania to attend Africa Heads of State Human Capital Summit, Ministry of Foreign Affairs announced on Sunday.

The World Bank supported meeting will be held on Wednesday, 26th July, 2023.

A statement from the ministry says during the deliberations, President Chakwera will address the summit to promote Malawi’s interests in health, labour, youth empowerment, education and early childhood development for the achievement of Agenda 2063 of the African Union.



“The earoplane carrying his excellency the president and her excellency the first lady is expected to depart Kamuzu International Airport on Tuesday 25th July 2023 at 17 : 00 hrs. Their excellencies the president and the first lady are expected to return home on Thursday 27th July 2023 at 7 : 30 hrs,” reads part of the statement.

The theme for the summit meeting is ‘investing in people for building a high productivity, inclusiveness, resilient economy.’

Journalists urged to accurately report weather related issues

0

By Chisomo Phiri

Journalists from different media institutions in the country especially community radio stations have been urged to accurately report weather related issues so as to avoid misleading the general public.

This was said during a one day long media training that the Department of Climate Change and Meteorological Services( DCCMS) organized at Amarylis Hotel in Blantyre on Thursday.

Charles Vanya, DCCMS Deputy Director



The training was aimed at equipping members of the media with skills on how best and accurately they disseminate weather related information to the general public.

In her presentation, DCCMS Director Lucy Mtilatila said members of the media should always be in forefront to make sure that weather or climate change information is accurate and not misleading or threatening people.

Said Mtilatila :“Climate change is not only about disasters. There are many benefits that we could get from it. As the media, we are in a better position to help in relaying such positive information. This gathering will help us to collaborate on this.”

She added:”We need to understand climate in order to utilize it and make sure that we are not vulnerable.

“We blame climate when we have put ourselves in vulnerable situations like settlements.”

Mtilatila said most of the disasters that come due to climate change are preventable.

“To be honest, most of the climate change disasters are preventable but it for us members of the media to them preventable as such through accurate information dissemination,” she said.

The DCCMS Director requested the media to always seek clarification whenever they are not clear on certain climate terminologies or information.

“Again as members of the media, let us provide information that will help communities to make informed decisions,” she added.

On his part, DCCMS Deputy Director Charles Vanya said there is need to continue conducting such media trainings with their department so that journalists are fully knowledgeable and able to report weather related issues without misleading the public.

Vanya added that there should be a strong relationship between journalists and the climate change department to make everything work perfectly.

He hailed journalists for their tireless efforts in disseminating crucial information about the climate change.

Vanya disclosed that currently, DCCMS is in the process of introducing ‘SMS Weather Alerts’ campaign where people will be receiving weather alerts of their particular areas from the department through their mobile phones.

The media training brought together Blantyre-based journalists from different media institutions such as Zodiak, MBC, Nation Publications Limited, MIJ FM, Ufulu FM, Capital FM, Kulinji.com, Ndirande FM, Mzati Radio, 247 Malawi News and Times Radio.

Mtilatila, DCCMS Director