Business

RBM reacts to fuel hike rumours, threatens to deal with man behind leaked communiqué

The Reserve Bank of Malawi (RBM) has threatened to deal with a man who has leaked a statement purportedly recommending fuel price hike in the country. The social media has been awash with a statement from Reserve Bank of Malawi (RBM) recommending a fuel hike in the country. The statement claimed that petrol jump by 13.56% from from K1999 to K2270 while Diesel will rise by...

Wirima Expresses Excitement Over Newly Perfume Factory In Nkhotakota

Deputy Minister of Agriculture, Madalitso Wirima has expressed excitement over the perfume factory which has been opened in Nkhotakota. She said the factory will help the vetiver grass roots farmers to export their products to earn forex which will help in the development of the country. Wirima made the remarks at the perfume factory opening ceremony in Mtambalika village Traditional Authority Mwadzama in the same district. “The...

Old Mutual drills Journalists on investments

Old Mutual Malawi, one of the leading insurance companies in the country on Wednesday trained Business Journalists in Blantyre on Alternative investments that the company has ventured in recently. Alternative investment is a platform where the company is opening up investments to other areas other than Insurance, Capital Market and Share Markets. Through this initiative, the company has ventured into Old Mutual Ulimi Fund, Old Mutual...

INTERNAL AUDITORS CHALLENGED ON PROFESSIONALISM

By Steven Godfrey Mkweteza Blantyre city mayor, Wild Ndipo, says the increased cases of financial indiscipline in the country can be minimised if the internal auditors are vigilant and independent in executing their duties. Speaking in Blantyre when the institute of internal auditors ( IIA) was unveiling its new corporate brand, Ndipo further said internal auditing is a dynamic industry that calls for employees to...

Crown Fashions Limited to shut down temporally, 520 workers to lose jobs

Crown Fashions Limited, one of Malawi’s oldest garments manufacturing firms is set to be temporally closed on June 17, 2022 due to economic instability in the country. The move will see over 520 direct and indirect employees of the company lose their jobs. Crown Fashions Limited group chief executive officer Vijay Kumar in the statement linked the development to the current economic environment but hoped to...

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