Business

Kapesa unveils 5 year strategic plan as he takes over IIM Presidency

Insurance Institute of Malawi (IIM) President Hastings Kapesa has unveiled a 5 year strategic plan as he takes over the Presidency in style. Kapesa, who works as a Technical Manager at Reunion Insurance Company Limited unveiled the plan during IIM Annual Charter Dinner held on Saturday evening at Mount Soche Hotel in Blantyre. In the strategic plan, Kapesa during his tenure of office has promised to...

Dangote Refinery to Reduce Africa’s Petroleum Importation by 36%, says APPO

African Petroleum Producers Organisation (APPO) has said that the establishment of Dangote Oil Refinery will bring about a 36 per cent reduction in the importation of petroleum productions into the continent. Besides, the organisation expressed a belief that the success of Dangote Refinery project could incentivise the rise of similar projects across Africa despite the current focus on energy transition. The Secretary-General, African Petroleum Producers Organisation,...

Diddy buys Sean John brand out of bankruptcy for $7.5 Million

Music mogul and producer, Sean "Diddy" Combs has won the bid to buy back his fashion brand, Sean John. Diddy won the rights to Sean John for $7.5 million, after a bidding war with 4 other parties. The deal will be finalized this week, barring any objections. The music producer's initial bid earlier this month in bankruptcy court was $3.3 million through an acquisition company named SLC...

Pioneer Foods Given 10 Days To Remove Ceres Apple Juice From Shops

The COMESA Competition Commission has given Pioneer Foods ten days to remove Ceres apple juice from shops after being found to be a health hazard. In a statement, the Commission’s Registrar Meti Demissie Disasa indicates that some Ceres apple juice contains Patulin levels higher than the recommended level. According to the World Health Organization, Patulin is a form of Mycotoxin which if consumed at higher levels...

Old Mutual partners Insurance Institute of Malawi, donates Mk3 million

Old Mutual Malawi, one of the leading insurance companies in the country has partnered the Insurance Institute of Malawi (IIM) ahead of the Annual Conference slated for Mangochi. As part of the partnership, Old Mutual Malawi has donated MK3 million toward the conference which is scheduled to run for three days from October 28 to 30. Speaking after the donation Old Mutual Life Assurance Company (Malawi)...

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