Firm to cut 25% jobs due to VAT on cooking oil
The impact of 16.5 percent value-added tax (VAT) reintroduced on refined cooking oil continues to be felt, with the latest...
Consumers feeling pinch of VAT on cooking oil
A month after Parliament passed the 2020/21 National Budget which introduced 16.5 percent value added tax (VAT) on refined cooking...
Rudevit ready to roll
The Reserve Bank of Malawi (RBM) has granted approval to Rural Development Investment (Rudevit) Holdings plc to raise an initial...
Manufacturers rue rampant smuggling
Manufacturers of cooking oil and wheat flour have decried rampant smuggling due to porous borders, saying if left unchecked it...
Tea industry moves On minimum wage
Tea Association of Malawi (Taml) and the Plantations and Agriculture Workers Union (Pawu) have signed a new collective bargaining agreement...
Egenco moves to ensure reliable power supply
Electricity Generation Company (Egenco) has outlined measures to sustain the current ‘improved’ power generation capacity, including harvesting water in Lake...
APM govt’s cash orgy
Budget documents have shown excess spending in the twilight of former president Peter Mutharika’s administration with State Residences and the...
Comesa moves to ease clearing of goods
The Common Market for Eastern and Southern Africa (Comesa) says the launch of a mobile application will enable the provision...
Some citizens brand 60/40 procurement law unfair
Some concerned citizens have described the proposed regulations to award 60 percent of all contracts under national competitive bidding to...
MyBucks Malawi profit up 130% to K1.8bn
MyBucks Banking Corporation Malawi has posted a 130 percent increase in profit after-tax in the half-year ended June 30 2020...
NBS Bank turnaround strategy on track, profit up 102%
NBS Bank plc, which has posted a 102 percent profit after-tax increase in the year ended June 30 2020, has...
FDH group profit up 18% to K5.8bn
FDH Financial Holdings Limited, the parent company of FDH Bank, has posted a half-year profit of K5.87 billion, an 18...
Investment advisory firms assess FDH Bank IPO
Five investment advisory firms have generally agreed that FDH Bank, whose Initial Public Offer (IPO) closes Friday, is a long-term...
Mpatsa Holdings acquires 49% stake in MyBucks
Frankfurt-listed Fintech MyBucks S.A., the parent company of MyBucks Malawi, says it has agreed to reduce its shareholding in the...
Green Belt woos private sector on irrigation projects
The Green Belt Authority (GBA), a government agency that manages irrigation projects, has called on the local private sector to...
Standard Bank promotes Africa-China trade
Standard Bank plc says it still has the capacity to help local customers manage ongoing importation processes from China despite...
FDH Holdings profit up 44% to K11.3bn
Financial services group FDH Financial Holdings Limited has reported a 44 percent growth in profit after-tax to K11.3 billion in...
Airtel Malawi IPO closes tomorrow
The investing public has until the close of business tomorrow to buy 2.2 billion shares of Airtel Malawi, to enable...
FDH Bank, EIB sign K6bn deal to support businesses
FDH Bank and the European Investment Bank (EIB) have signed their first loan agreement that will support private sector investment...
Fight illegal forex trade, dealers dared
The Reserve Bank of Malawi (RBM) has warned financial market dealers not to be used as a conduit for foreign...
