National Lottery Group Limited operating in Malawi on Friday confirmed that it has closed business because of losses.
Public Relations and writer for the company Mr. Phillip Banda told the media that NLG’s business had declined drastically as compared to December last year when the company had just started.
‚ÄúThe company expected to make profits but business was going down contrary to the hype that was created in December when lotto game 636 was introduced in the country,‚ÄĚ said Mr. Banda.
Malawi‚Äôs Minister of Tourism Mr. Dan Liwimbi could not give more details when asked to comment on the development saying his office got reports about the closure but is waiting for official communication for him to say much.
The company announced of the closure during the last Friday July 27 Lotto 636 draw saying it was the last to be conducted in the country.
Operations Director Mr. Levan Lobzanidze official communicated the news of the closure to employees of the company on Saturday.
Mr. Allen Cheng, executive officer for NLG which is present in 60 countries in all the continents said in December that the company had invested over 1 billion kwacha to run business in Malawi.
Meanwhile over 600 employees have been paid their dues according to Mr. Banda.
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