Castel Malawi Limited has awarded 50 long serving employees across the country who have served the company between 10 and 30 years.
Speaking after awarding them with certificates and various gifts which included iron sheets, mattresses, mountain bikes, and refrigerators at an event held at the company’s head office in Blantyre, Castel Malawi Limited Human Resource and Corporate Affairs Director, Gloria Zimba said the aim was to appreciate the employees’ commitment and dedication.
“It is very significant that every year we conduct this event because we would like to show them that we don’t only look at them as human resource where we are demanding their time and their energy into their different energy where they are working.”
“We want to show the staff that we appreciate them as our employees and we know that the different gifts that they have received will go to their families because we know that behind this hardworking and committed employee, there is a family,” said Zimba in an interview on the sidelines of the event.
“Our expectation is double fold. First, we would like to see these employees whom we have awarded to continue working hard for the company, but also, we want the employees who have just joined us or who are yet to clock 10 years and above, to emulate their example. They should work hard, be committed, respect the company policies, the disciplinary code, and the ethics policy so that they can also one day be given their awards,” added Zimba.
One of the longest serving employees at 30 years, Richard Mseteka who joined the company at 22 years of age, commended Castel Malawi for the honour while describing his journey as a roller coaster.
“I have worked with different bosses from all the three companies as Southern Bottlers Limited, then Carlsberg Malawi and now Castel Malawi. All that is required is hard work and commitment for one to survive,” he said.
Prior to the Blantyre Long Service Award function where 40 Blantyre and 2 Liwonde employees were recognized, the company also awarded 4 employees in Mzuzu and 4 employees in Lilongwe, respectively.
Castel Malawi is the largest producer of alcoholic beverages in the country, and second highest taxpayer, with a workforce of more than 700 employees.
National Bank of Malawi (NBM) plc has posted an impressive K71.96 billion profit after tax for the financial year ending 31 December 2023, representing a 56.62% profit jump.
In a statement dated 28 February and signed by the Bank’s Board Chairperson Jimmy Lipunga, Director Dorothy Ngwira, Chief Executive Officer Macfussy Kawawa and Chief Finance Officer Masauko Katsala, the Bank attributed the remarkable results to growth in customer deposits.
“The Group registered a profit after tax of K71.96b representing a 56.62% increase from K45.9b reported in 2022. These results were largely driven by growth in customer deposits which resulted in increases in the loan book and fixed income securities.”
“Consequently, Net interest and investment income grew by 33%. In addition, there was a 86% increase in Other Income mainly arising from growth in foreign exchange commissions by (99%) from K12.8b to K25.5b. Overall net revenue grew by 50%. Operating expenses increased by 25%, within the average inflation for the year. On the other hand, net impairment losses continue to increase, reflecting the realities of the tough operating environment,” reads the statement in part.
Customer deposits increased by 20% (2022: 45%) year on year while the Bank’s loan book grew by 31% (2022: 29%). Investment in Fixed Income securities grew by 10% (2022:16%), according to the statement.
The statement also shows that the group made a profit before tax of K120.13 billion and paid a total of K48.17 billion in taxes.
“All the subsidiaries of the Bank posted profits that contributed positively to the Group performance except for Akiba Commercial Bank (ACB) in Tanzania and an associate company, United General Insurance which posted losses.”
“Positive trends continue to be registered in the two entities where the results improved significantly from the previous period. Consequently, the losses registered for Akiba Commercial Bank and UGI were much lower than those of the prior period,” reads the statement in part.
Commenting on the operating environment, the Malawi Stock Exchange (MSE) listed Bank said the Malawi economy grew by 1.5% in 2023 up from 1.1% the previous year and was adversely affected by the prevailing high inflation as well as continued foreign exchange supply challenges.
“The average headline inflation accelerated from 26.1% in the first quarter to 31.5% in the last quarter. Similarly, interest rates were on the rise, with the Policy rate being raised from 18% in the first quarter to 24% in the second quarter of the year.”
“The Malawi kwacha devalued by 63% between January 2023 and December 2023. Despite the devaluation, foreign exchange supply challenges persisted. Generally, the operating environment was very challenging. Weather shocks and geo-political landscape also affected the operating environment,” reads the statement in part.
NBM plc forecasts that the economy is expected to grow by 3.2% in 2024 from 1.5% in 2023 supported by an increase in public investment and recovery in mining and quarrying, manufacturing, information and communication, financial and insurance activities, and education sectors.
“The resumption of the IMF-supported ECF program is expected to unlock foreign exchange inflows going into 2024, which will in turn support importation of raw materials and promote economic activity. The positive outlook is, however, clouded by El Niño-induced weather conditions, and a highly uncertain global economic and geopolitical environment. Inflation is likely to remain elevated in 2024,” reads the statement in part.
“The Board envisages a continuing challenging operating environment due to the factors enumerated above. This notwithstanding, the Bank is expected to sustain its enviable performance through its ability to leverage on its core strengths, address challenges and exploit opportunities in the market,” adds the statement.
The Bank Directors recommend a final dividend of K23b (2023: K15b) making a total dividend of K48.0b in respect of 2023 profits representing K104.94 per ordinary share (2022: K70.67 per share). The final dividend will be payable after approval by the Annual General Meeting scheduled for June 2024.
The Bank also said a second interim dividend of K14 billion will be paid in April 2024 having paid the first interim dividend of K11 billion in September 2023.
In an innovative move to champion diversity and women’s empowerment, NBS Bank plc has unveiled its social media campaign ‘Inspire Inclusion’ which will be spearheaded by Deputy Chief Executive Officer Temwani Simwaka.
The initiative aims to spotlight the Bank’s dedication to financial literacy and the empowerment of women.
“Through the ‘I Nominate You’ campaign, we are excited to share valuable financial advice, celebrate inclusivity, and highlight the diverse culture within our Bank,” said NBS Bank Acting Head of Marketing and Customer Experience James Chikaonda, underscoring the campaign’s objectives.
Chikaonda further elaborated on the campaign’s approach to recognizing women’s contributions both within and outside NBS Bank.
“We will nominate three outstanding women who, in turn, will share their insights, nominate others, and spread the message of inclusion using the hashtags #INominateYou and #InspireInclusion.”
“The campaign will focus on women in senior and middle management roles at NBS Bank, alongside a distinguished woman who has excelled in her field outside the Bank. By highlighting these women, we affirm our role as leaders in fostering an inclusive culture that transcends the confines of our organization,” said Chikaonda.
Scheduled to run across LinkedIn, Twitter, Instagram, and Facebook until the end of the month, the ‘Inspire Inclusion’ campaign aligns with the global celebration of International Women’s Day (IWD) on March 8.
This year’s IWD theme, ‘Inspire Inclusion’, resonates with the campaign’s mission to underscore the importance of diversity and empowerment in every sphere of society.
Standard Bank Plc has given this year’s Malawi Law Society Annual Conference underway in Mangochi a boost by contributing K5 million.
Head of Private Banking Joshua Banda said the contribution is in recognition of the important role legal minds play in strengthening governance across multiple sectors, thereby contributing to economic growth.
MLS Lilongwe Chapter Executive Committee Secretary Chanju Kondowe, who recieved the sponsorship thanked Standard Bank for the partnership.
This year’s AGM is under the Theme “Interrogating Malawi Electoral System Towards 2025 General Elections.”
Honourable Justice Dr Chifundo J. Kachale, Chairperson of the Malawi Electoral Commission, is the Guest of Honour.
Standard Bank Plc has pledged to step up efforts in mitigating the negative effects of climate change by promoting the planting of trees by its customers and staff in line with a commitment to being a responsible corporate citizen.
To encourage customers and staff to plant trees, the bank on Thursday designated its branches as collection points for seedlings to give different individuals better access to tree seedlings. The initiative is part of the Bank’s activities to mark World Forestry Day or World Planting Day which falls on March 21.
Speaking from the Head Office, Chief Information Officer – William Nuka said Standard Bank is determined to transform Lilongwe and Malawi into a green and environmentally vibrant landscape.
“We are determined to make our city and surrounding areas greener and environmentally sustainable. We can make Lilongwe and Malawi green if we work together. At Standard Bank, we are geared to get our hands dirty today and in coming months for a better tomorrow,” he said.
The Bank has partnered with the Lilongwe City Council for the initiative, as a key player in ensuring that Lilongwe gets a green facelift. The City Council provided 1,000 tree seedlings of 7 varieties both indigenous and fruit trees to distribute on this day.
The Chief Information Officer said, “today we successfully distributed 1,000 seedlings to customers and staff in Lilongwe through our 6 branches and service centres. This is the beginning of a larger commitment we have towards supporting the Tree planting agenda for the nation.”
“Lilongwe suffers a tree loss rate of around 17.5% which is one of the highest deforestation rates in Malawi. We must take individual accountability towards planting trees and ensure every person and household has a tree. We are a partner for every Malawian that wants to see our current climate crisis eradicated,” said Nuka.
Mr. Nuka said the initiative is part of efforts by the Bank to contribute to the country attaining the UN Sustainable Development Goals on the environment. This also aligns with the Bank’s commitment as a signatory of the United Nations Principles for Responsible Banking (UN PRB).
“As such we are committed to ensuring that our operating strategy is consistent with and contributes to society’s needs and priorities, as expressed by the United Nations Sustainable Development Goals (UN SDGs), the Paris Agreement, the African Union’s Agenda 2063, and sustainable banking frameworks,” he said.
Malawi is in line to earn billions of dollars from buyers of carbon credits if its citizens planted more specific trees.
Lilongwe, March 20: As Church of Central Africa Presbyterian (CCAP) is clocking 100 years of service this year, CCAP General Assembly General Secretary Reverend Mwawi Chilongozi has asked all Synods in the country to help the church raise funds for the celebrations.
Briefing the media in Lilongwe on Wednesday, Chilongozi said the centenary celebrations slated for August 24-25 this year at CIVO stadium in Lilongwe is pegged at K250 million.
Chilongozi further said, the church is hopeful that members of CCAP will contribute generously towards the event.
“We have proposed a budget for the celebration amounting to k250 million. Some of the funds will be raised from the cloth that will be printed for the celebrations and other fundraising activities.
“However, as a church, we are requesting all CCAP members in Malawi in all three Synods namely Livingstonia, Blantyre, and Nkhoma to contribute generously towards the celebrations. We are requesting that each member in rural congregations contribute K500 while congregations in urban areas to pay K1000 each,” She said.
Chilongozi also said, as a part of celebrations, CCAP through a research conference conducted at Zomba Theological University will publish a book with a foreword written by the President Lazarus McCarthy Chakwera.
In his remarks, General Secretary for Nkhoma Synod, Vasco Kachipapa said CCAP members in Malawi should be excited with the event saying the celebrations could have happened in other countries but instead the celebrations will be held in Malawi.
“As a Synod, we have been honoured that the celebrations will take place in our territory. The event could have been done in Blantyre, Livingstonia even Zambia or Zimbabwe. But the event will be held here in Lilongwe at CIVO Stadium, it is like a home ground and we are really excited,” He said.
Meanwhile, CCAP General Assembly has extended invitation to the heads of States in Malawi, Zambia, and Zimbabwe.
The CCAP was established in 1924 as a result of the work of the Scottish and Dutch Missionaries in the last quarter of the 1800s.
NBS Bank Plc has given K2 million to the Malawi Law Society (MLS) for their Annual General Meeting (AGM) scheduled for this week in Mangochi.
Making a symbolic cheque presentation at NBS Bank’s Head office in Blantyre on Friday, the Bank’s Head of Legal Felister Dossi, said they felt the need to support the conference since they believe that the rule of law is fundamental to political stability and helps a country to achieve economic and social progress and development which is important for a business environment that the Bank is operating in.
“Malawi Law Society has been a partner for several years. We are aware that this year’s AGM theme touches on electoral system and laws and as a Bank, we feel duty bound to contribute to MLS to help them achieve one of their strategic goals of safeguarding the rule of law,” said Dossi.
MLS Chief Executive Officer (CEO) Chrispin Ngunde said the support signifies the Bank’s commitment to promoting the rule of law, professionalism, integrity, and excellence.
“The Bank has been a partner for MLS for many years and the donation of K2 million further cements our collaboration. The theme for this year’s Conference and AGM is very relevant to the business of the Bank.”
“For the Bank’s business and any business to strive, it requires a stable business and political environment. Elections greatly contribute to creating this conducive environment. It is, therefore, pleasing to note that the Bank has taken a keen interest in elections and public interest through its support of MLS,” said Ngunde.
Ngunde added that MLS will continue to promote matters of public interest, rule of law, good governance, integrity, and professionalism by taking an active role, in among others, sharing thoughts on matters of national importance such as election matters
MLS will hold its AGM from March 21 to 24 under the theme ‘Interrogating the Malawi Electoral System Towards 2025 General Elections.’
The U.S. has been holding high the banner of “openness,” “freedom” and “equality.” But in reality, these universal values have been the first to be sacrificed by American elites for self-interests.
Internationally, the “democratic” U.S. has shown its unrivalled bullying skills in interactions with countries it deems as rivals. Over the past few years, the United States – under its “small yard, high fence” containment strategy – has escalated its efforts to hinder China’s technological progress. Through measures such as export controls and investment restrictions, Washington has constructed a “high fence” obstructing exchanges between China and the U.S. in the field of high-tech.
Washington’s “small yard, high fence” strategy is making a rod for its own back, which will ultimately harm American companies. Decoupling has resulted in a significant reduction in sales for U.S semiconductor companies in the Chinese market. Boston Consulting Group estimates that American companies could lose 18 percentage points of global share and 37 percent of their revenues if the U.S. government continues to pursue decoupling and bans domestic semiconductor companies from selling to Chinese firms. But apparently, Washington does not care as long as it can harm rival countries.
Domestically, the U.S. government has shown no respect for humanitarian values either. Take the immigration issue as an example. The U.S. is a nation of immigrants; but the country’s treatment of immigrants is a history with inhumane tragedies. Even in the 21st century, human rights violations against immigrants see no improvement.
The young migrants at Customs and Border Protection facilities in Donna, Texas, U.S. /AP
Upon crossing the U.S. border, migrants see their “American Dream” transform into a nightmare. Adults have been detained while their young children, who entered with them, were forcibly separated and placed in separate accommodations. Even infants – as young as four months old – have been subjected to this cruel separation.
The children were held incommunicado in emergency border patrol facilities or shelters under the supervision of government contractors, confined within metal-fenced cages, sleeping on bare floors covered with foil blankets. Their anguished cries for their parents echo through these facilities, while their basic human rights remain unmet.
The American Academy of Pediatricians rightly labels this as “government-sanctioned child abuse.” Sadly, no solution can fully heal the trauma inflicted upon these families. As the Texas Civil Rights Project, a legal aid organization, states “either the government wasn’t thinking at all about how they were going to put these families back together, or they decided they just didn’t care.”
Worse still, American politicians are using the issue as a political leverage. Some Republican governors have transported illegal immigrants from theirs to blue (Democratic) states – all in an attempt to embarrass the federal government, according to media reports.
Shouting “democracy,” American politicians only care about self-interests, manipulating every possible tool to attack rivals. In this context, political fighting has become an every-day event in the United States: Former President Donald Trump faces allegations of property fraud; President Joe Biden is currently under investigation for impeachment; the federal government has experienced frequent shutdown crises.
Rep. Richard Hudson (left) pulls Rep. Mike Rogers back as they talk with Rep. Matt Gaetz and others during the 14th round of voting for speaker as the House meets for the fourth day to try and elect a speaker and convene the 118th Congress in Washington, January 6, 2023. /Getty
Over the past decades, differences between the two parties were resolved through compromise, with politicians acting in the interests of their respective backing interest groups. However, U.S. politics today is witnessing polarization, with demands from interest groups becoming more divergent and uncompromising. Cross-party cooperation and consensus have become nearly impossible.
Such an intense political climate has spilled over into U.S. society, manifesting itself in increased threats of politically motivated violence and attacks. Since the Capitol riots on January 6, 2021, the United States has witnessed numerous cases of political violence, often incited by “lone wolf” attackers or occurring during rival group demonstrations and rallies. Analysts warn that the United States may be heading towards widespread political violence, according to The Guardian.
The United States feels complacent, playing the role of “human rights preacher,” harping on about others’ human rights conditions. However, it has been blatantly suppressing other countries’ growth, violating the human rights of tens of thousands of migrants drawn to its shores by the “beacon of democracy” and wantonly attacking political rivals at the cost of normal operation of the government.
The “democratic” U.S. has demonstrated to the world how it has callously disregarded humanitarian values.
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Opposition Democratic Progressive Party (DPP) Member of Parliament for Chitipa South, Werani Chilenga has denounced the tendency for the opposition to be opposing each other.
Chilenga said the move shows that the opposition in the country is too divided, disjointed, scattered and disoriented.
He made the remarks in Parliament when he was contributing towards the 2024/2025 national budget.
“If a country is going to war, that country cannot win that war if it is already engaged in a civil war. You first of all deal with the civil war within your country, then you can go and attack another country.
“So, the civil war that we are in clearly shows that we cannot engage in another war,” he said
Since losing power in 2020 Presidential elections, there has been infighting in DPP, mainly between a party belonging to the Leader of Opposition in Parliament, Kondwani Nankhumwa and the current party president Peter Mutharika.
Nankhumwa challenged Mutharika’s leadership and declared interest in contesting at the party’s convention as president.
After a long legal battle, Nankhumwa and other MPs were expelled from the party.
Last month, Nankhumwa dragged the party to the High Court challenging his expulsion.
Nankhumwa, was expelled alongside 10 others for calling, leading and attending the December 6 2023 nullified national governing council (NGC) meeting in Lilongwe, argues that the party’s central committee, which made the decision, flouted the party’s constitution.
Others who have been expelled include Zomba Chisi legislator Mark Botomani, who also serves as Public Accounts Committee of Parliament chairperson, former secretary general Grezelder Jeffrey, former director of women Cecelia Chazama, publicity secretary Nicholas Dausi and executive members Joe Thomas Nyirongo and Ken Msonda.
Lilongwe Police over the weekend arrested a Human Resource Assistant at the Land Resource and Conservation Department of the Ministry of Agriculture at Area 3, on suspicion he stole gadgets and panga knives worth K20.9 million.
Lilongwe Police public relations officers Inspector Hastings Chigalu the suspect, Anthony Chimpale, 48, broke into the office of the department’s Senior Human Resource Assistant, and stole 75 Samsung Galaxy tablets, 7 tonners, 600 panga knives, all valued at K20.9 million between the months of July 2023 and February this year.
He said Chimpale, 48, of Nkhwenembera Village, Traditional Authority Chiwere in Dowa District.
“The owner of the victimized office reported to police after noticing that the items were missing following an audit, despite registering no physical breaking of the office for the culprits’ entry.
“The stolen property was part of other valuable items the department is keeping for projects. A systematic investigation into the matter by the station’s detectives, located several users of the stolen tablets within Lilongwe. When detectives apprehended the users for questioning, they revealed to have bought the Samsung tablets from the suspect (Chimpale).
“After his arrest, Chimpale admitted having broken into the said office on separate occasions using keys he illegally acquired specifically for a commission of the offence,” he said
Police have so far recovered five tablets of the stolen property.
“Efforts are still underway to recover the remaining 70 gadgets and other items.
He will appear in court soon to answer a case of Breaking and Theft,” said Chigalu
