DStv has launched a brand-New Islamic channel called, Hilaal TV, which will be available on channel 347 and on all bouquets including Easy View.
Hilaal TV is set to deliver the highest quality of Islamic content to DStv subscribers, packed with spiritual and lifestyle content specifically aimed at uplifting and supporting the broader Ummah; and providing entertaining and enlightening viewing 24-hours a day for both adults and children.
Hilaal TV will deliver some of the best Islamic ethos programming – including daily live crossings to the Holy Cities of Makkah and Madinah, with specific focus on holy Muslim periods.
There is also an array of series that the channel has in store for DStv customers, including Chalo Lets cook, Cooking Competition which premiers in August, Ml Suliman Moola Tafseer Lecture series, Living Lekker with Yusuf Daniels and Thameena Daniels (Father-Daughter) Family dynamics and many more local favourites.
The channel will also offer live shows such as Daily Live Crossing to Makkah and Madinah for prayers, Dean @ Dawn which is a daily morning live show with Sheikh Sameh Jaad and Live Hajj coverage from the Kingdome of Saudi Arabia.
Get your dose of daily quality Islamic programming that will captivate and spiritually uplift you only on channel DStv channel 347.
Namitembo (left) presents the dummy cheque to Ngugama
National Bank of Malawi (NBM) plc has given K2 million to the Malawi Youth Chess team which leaves the country for Zambia to participate at the African Youth Chess Championships which run from 2-10 July 2022.
Speaking in Blantyre during the cheque presentation, NBM plc Victoria Avenue Service Centre Manager Julie Namitembo said the Bank is proud to be associated with the promotion of the Chess game in the country through the Chess association of Malawi (Chessam) hence the support.
“We are proud to be associated with Chessam as this is not the first time that we have collaborated to promote the game of chess in the country. We have been there before to support Chessam in its school competitions and as a Bank we have been impressed with the way Chessam has been conducting these competitions.”
“NBM plc is also fascinated with the African Youth Championship because it involves young chess players who will mature to become world Chess players because they have started playing this game while young, we all know how people improve in what they do when they start doing that thing during a young age,” said Namitembo.
She noted that the standards of the youth games have greatly improved in the past 5 years.
“The development of the game of chess in the country starts from the development of youth chess and that is why we are hopeful that our team will do well at these games and make all of us proud with their expected achievements,” said Namitembo.
Chessam National Schools’ Coordinator Magret Ngugama thanked NBM plc for the support towards the Zambia trip by the youth team.
“We are very grateful to NBM plc for this support and we appreciate the support that we get from the bank. You have been supporting us from the school project and also the online tournament. We will be sending 12 official players and 6 additional ones who will sponsor themselves. We are happy with the selection of the players because they represent the whole country,” said Ngugama.
The players making the trip include Lucie Chimeta, Alipo Namangale, Patience Mtumbuka, Michael Mlambala, Jailos Rachel, Beston Phiri, Trintance Kapalamula, Mark Nyirongo, Shalom Kapende, Blessings Phiri, Annie Simwamba and Titus Saka.
NBS Bank CEO Kwanele Ngwenya speaks during the AGM
Listed commercial bank, NBS Bank plc says the financial results of 2021 are reflecting the growth of the bank’s brand value.
NBS Bank Board Chairman Vizenge Kumwenda spoke during the Bank’s Annual General Meeting in Blantyre on Tuesday.
He said the Malawi Stock Exchange (MSE) listed bank reported a profit after tax of K7.692 billion compared to the profit after tax of K7.050 billion reported in 2020 which translates to 9% growth from the previous financial year amid challenges like a new wave of the Covid-19 pandemic.
“NBS Bank plc rose above the turbulence to deliver a satisfactory result. This was underpinned by the uninterrupted service that the Bank delivered to its customers when they needed us most, despite the Covid 19 pandemic.”
“The 2021 results also reflect growth and improvement of the Bank’s brand value. This has been demonstrated in many aspects of our performance, from the ability to attract low-cost deposits to a rise in our market share of loans and deposits,” said Kumwenda.
NBS Bank plc AGM in progress
Looking ahead, Kumwenda said headline inflation is expected to increase with heightened pressures emanating from food and non-food inflation as fuel pump prices, fertilizers, utilities, and food prices rise.
“The Malawi kwacha has weakened against its major trading currencies, a situation which is projected to continue into 2022 as uncertainty grows amidst the war between Ukraine and Russia whose effects will be felt at a global scale. Foreign exchange will likely continue to be in shorter supply on the market than the demand,” explained Kumwenda.
He applauded management and staff of NBS Bank Plc for giving their best in 2021 saying they were dedicated to the vision of the organization as they adapted to the challenges of a global pandemic and delivered uninterrupted service to customers despite the continued hardship to the work environment.
“The Bank continues to thrive due to the great leadership and patriotism shown by the Red Brigade. Most importantly, great appreciation must go out to our customers, and our shareholders for their trust in the Bank to deliver as per expectation,” said Kumwenda.
FDH Financial Holdings CEO William Mpinganjira (left) poses with one of the Shareholders at the FDH Bank AGM
FDH Bank Plc has successfully held its 15th Annual General Meeting (AGM) with a promise to continue to leverage on technology and innovation to ensure financial inclusion of the marginalized targeting to reach over 1.4 million digital customers.
Speaking in Blantyre, FDH Bank plc Board Chairperson Charity Mseka said as Malawi’s leading digital bank, FDH Bank plc is committed to enhance customer experience, maximizing shareholders’ returns as well as innovation and expansion in Malawi and beyond.
“As a leading digital bank, we will continue to leverage technology and innovation to ensure financial inclusion of the marginalized and provision of utmost convenience to the masses. This is being done in coordination with our various partners including the Government of Malawi, Financial Access for Rural Markets, Smallholders and Enterprise (FARMSE), and the International Fund for Agricultural Development (IFAD). We continue to expand our large agency banking footprint and reach over 1.4 million digital customers,” said Mseka.
FDH Bank AGM in session
She said to drive customer payment convenience, the Bank has expanded the distribution of its Mastercard Debit Card and enhanced its functionality and increased the number of merchants with its point of sale (POS) machines.
“We provide a wide branch network of 51 service centres and 92 auto-teller machines to enhance last mile banking services. In our quest to enhance customer experience, we have relocated our two service centres in Lilongwe Old Town and Capital City to bigger and more spacious buildings and renovated our Zomba Service Centre to modern standards,” said Mseka.
“The Bank continues to engage its strategic partners on the global markets and this is expected to grow further in 2022. The Bank is working on strengthening existing relationships with various international institutions and building new ones for acquisition of both funded and non-funded facilities to support its growth and its Trade Finance business.”
Julian Somba, a Shareholder expresses a point during the FDH Bank AGM
“The focus in the Trade Finance space is to support the growth of the country’s exports by providing well-structured solutions and support the importation of strategic commodities. Given our agro-based economy, the Bank is increasing its seasonal agricultural commodity financing and pre-export financing to drive exports thereby contributing positively towards the balance of trade,” added Mseka.
She noted that as an enabler in the attainment of Malawi Vision 2063, the Bank is leveraging on its investment banking expertise and strategic partnerships to support clients undertaking various large and complex projects or transactions especially those that drive sustainability.
“Looking ahead, the Bank is building its capabilities to continue staying ahead of the volatile and complex operating business environment while providing first class business solutions that will help our customers grow with us,” said Mseka.
Frank Harawa Secretary general of Minority Shareholders Association speaks at the FDH Bank AGM
She announced that in the last financial year, the Bank posted a profit after tax of K11.659 billion, down from K13.988 billion reported in 2020.
“The Bank has registered sustainable growth over the past 5 years with profitability growing at a Compound Annual Growth Rate (CAGR) of 242% from a loss of K1.0 billion in 2017 to a Profit After Tax (PAT) of K11.7 billion and the total assets had a CAGR of 11% from K150 billion in 2017 to K305 billion in 2021 which shows the trust people have in this home-grown Bank,” said Mseka.
The Bank has paid a total of K8.3 billion to its shareholders as dividends in the year ended 31 December 2021.
“Our decision to work with ESCOM on this initiative guided by our purpose of creating a thriving Malawian community through the provision of affordable food and energy.” Lekani Katandula, Illovo Sugar Malawi plc Managing Director.
KATANDULA:Our decision to work with ESCOM on this initiative guided by our purpose of creating a thriving Malawian community through the provision of affordable food and energy
Illovo Sugar Malawi plc remains mindful of the role that the company plays when it comes to environmental conservation and climate change through sustainable practices within its operations.
As a result, the company is committed to minimizing any negative impacts that its operations may have on the environment, or which may contribute to climate change. Key on the company’s agenda is energy conservation, the company has embarked on a joint initiative with ESCOM that will provide additional power to new and existing customers on the national grid by finding more efficient ways of power utilisations within its operations.
Speaking on the issue the company’s Managing Director Mr Lekani Katandula stated
“Our decision to work with ESCOM on this initiative guided by our purpose of creating a thriving Malawian community through the provision of affordable food and energy. Therefore, we are optimizing some of our requirements by shifting our irrigation patterns to take more power during off peak hours which enables the business to reduce its peak time power requirements from ESCOM thereby enabling the latter to provide increased access to power for new and existing users in the country.” Illovo currently reduced its power demand by 4MW during the off-peak period through this shifting of irrigation practices.
The company is also finalizing, plans to improve the use of its own power with ESCOM support, so that it can further reduce its power demand from ESCOM. It is planned that some of the plans will be implemented by end July 2022. Such collaborative initiatives are critical for ESCOM and all other companies to improve access to power for all Malawians and to promote the growth of businesses in the country.
Sugar Malawi plc is on a drive to enhance its efforts towards environmental conservation as well as sustain the existing biodiversity surrounding its operations, whilst reducing waste and pollution by partnering with its staff, communities, and other stakeholders. Commenting on the issue the company’s Managing Director Mr Katandula stated that
“Our staff, communities and other stakeholders are sensitized and engaged in the importance of environmental protection with the worsening of the global climate crisis. We have a number of practices and programs within our operations that ensure environmental preservation”
Some of the activities to curb environmental degradation currently in use at Illovo include:
• Overall Water Management by using effluent water treatment plants and sewage ponds to purify wastewater for irrigation
• Management of solid, liquid and gaseous waste by following government set standards and segregation of waste at all sites for recycling and burning using incinerators.
• Land Conservation/Restoration using Bamboo plantations and tree planting exercises in surrounding communities
• Water conservation using drip irrigation rather than furrow
• Biodiversity by conservation of animals and vegetation at Nyala Park. The company has stated that it remains committed to working on ways that ensure it continuously improves its practices as well as support national initiatives where possible on the same.
Mr Katandula stated further stated that sustainability is key for the business to achieve its goals in preservation.
“Businesses cannot survive if the environment around them is failing. Therefore, we will relook at our sustainability practices and deliberately work on ensuring that we continuously improve in these areas” stated Mr Katandula.
Ends For more information please contact: Chifundo Kalonga on email: CKalonga@illovo.co.za mobile +265 888 395 861 About Illovo Sugar (Malawi) plc Illovo Sugar (Malawi) plc is listed on the Malawi Stock Exchange with 76% of the issued share capital held by the Illovo group and the balance by public and other institutional investors.
The corporate office is based at Limbe with two operations at Nchalo in the south of Malawi and Dwangwa in the mid-central region, producing sugar cane and raw and refined sugar, together with specialty sugars at Nchalo.
Illovo Malawi is the country’s sole sugar producer with more than 60% of total sugar sales sold to domestic consumer and industrial markets, and the balance exported to preferential markets in the EU and the USA, and the surrounding region.
By Roselyn Phiri (Mana) & Ireen Kayira (Contributor)
United States of America (USA) based gospel artist, Delois Massey Nkosi, is on collaboration drive with Malawian gospel artists to help them gain recognition on the international scene.
In an interview the artist who is married to a Malawian man Steve Nkosi said this collaboration drive is also one way of giving back to the country of her husband.
“As someone who has Malawi at heart and with vast experience in the music industry I thought it wise to give back to the country with what I know best that this is music.
“With my music I decide work with more local gospel artists in the Malawian music industry through the collaborations,” she said.
She said she is not just there for the collaborations but she also wants to establish herself on the Malawian local music scene.
“She said so far she is currently working with Faith Mussa on a single that will be released soon with a video that is being shot by Chipi Khonje.
She said she has once performed at one of the former president Malawi Dr. Joyce Banda visits in USA sometime back and in Malawi she has performed at the Fountain International church in Blantyre and in Lilongwe
In a separate interview Faith Mussa who is working with the artist said it these collaborations are important because they are the best way for each artist to present themselves to a new audience.
“There is nothing more exciting in an artist life than a new platform so both of us will be appealing to a new group of people through these collaborations,” Mussa said.
Delois Massey’s passion for music started at a very early age. She began singing gospel music with her six siblings who together travelled all over eastern Kansas and the Delta areas in the USA.
Delois has shared the stage with some of the legends in the Gospel music circles such as Dr, Marvin Sapp, Vashawn Mitchel and Lamar Campbell.
On production she has also worked with the Stellar Award-winning producer Roger Ryan of after touch Studios in Nashville, Tennessee.
BLANTYRE, June 23, 2022—Net profit for Standard Bank Plc, listed on the Malawi Stock Exchange increased by 4 percent to MWK 24.8 billion for 2021, while the bank’s final dividend to be paid to shareholders is K8.7 billion or K37.07 per share, the bank said on Thursday during the annual general meeting in Blantyre.
The shareholders also approved the appointment of new directors to the board, notably seasoned marketer Gladson Kuyeri, accountant Ann Chirwa and Havard-university educated business strategist Patrick Mweheire.
In the bank’s annual report for financial year ended December 31, 2021 presented at its Annual General Meeting in Blantyre today, Standard Bank Chief Executive Phillip Madinga and Chairperson Ngeyi Kanyongolo acknowledge the challenging operating environment due to foreign currency shortages and the prolonged effects of the Covid-19 pandemic.
“The group continued to operate in a challenging operating environment as demand for foreign currency continued to outweigh supply. This has resulted in the Malawi Kwacha to depreciate and the expectation is for the Malawi Kwacha to depreciate further as we head into 2022. COVID-19 also continued to affect business which in turn impacted credit growth and transactability,” reads the CE and Chairperson’s joint report accompanying the Annual Report.
Despite the challenges, Standard Bank’s net profit grew to MWK24.8 billion, which is 4 percent higher than that of 2020 (MWK23.7 billion), shows the annual report.
It says the bank’s total revenue grew by 31% driven by growth on both net interest income and non-interest revenue. Its net interest income grew by 25% driven by an increase in loans and advances to customers and financial investments which both grew by 25% year on year.
“The growth of interest earning assets was driven by favorable yield rates as well as continued increase in demand for digital loans. Non-interest revenue grew by 41% above prior year driven growth in transaction volumes of fees and commissions,” reads the statement.
It notes that the bank’s trading revenue significantly grew year on year anchored by an increase in trading volumes.
COVID-19 continued to affect performance of the bank’s both non-interest and interest revenue.
The bank’s fees and commissions were negatively affected by a 40% reduction of fees on internet banking, mobile payments and other related services to cushion customers from the effects of on COVID-19. The pandemic also resulted in high credit write-offs due to growth of customer loans and advances
“The group will continue its efforts to recover previously written off loans as well as focus on prudent risk taking and management,” reads the report.
To respond to the pandemic, Standard Bank contributed over MWK112 million directly towards fighting Covid-19 through the Ministry of Health and Malawi’s three central hospitals.
“The second wave of COVID-19 had debilitating effects on Malawi’s healthcare and systems. The Ministry of Health and Central hospitals sought urgent assistance and Standard Bank Plc responded swiftly providing the much-needed resources. Donated items included oxygen cylinder refills, PPEs, N95 masks, gowns, face shields, gloves, and patient monitors. In addition, the bank also provided support to the Private Citizens Covid Response,” reads the statement.
Despite the difficult operating environment, Standard Bank has reaffirmed its commitment to partner the country in economic growth efforts through investments directed at health, education, and job creation.
It the Education sector, Standard Bank responded by providing bursaries worth K120 million to students in public universities and is helping to improve capacity and the learning by contributing towards infrastructure and ICT.
On job and wealth creation, Standard Bank partnered the UN Women and FARMSE to engage women in agriculture as well as young entrepreneurs as merchants of its transactional platform, UNAYO. The partnership with UN women engaged 455 farmers in Lilongwe, Mchinji and Mzimba, and resulted in an output of 43.2 metric tonnes of certified seed.
On the other hand, Unayo has connected over 70,000 customers to enable cash transfers to both rural and urban areas.
“With Unayo, the group plans to stretch its reach to the marginalised unbanked population. Unayo is a mobile wallet with vast ecosystem and partnership opportunities to bring everyone on the financial table,” reads the financial statement.
On the macro economy, Standard Bank says it expects GDP to recover with a growth forecast of 5.4 percent driven by rebounds in Manufacturing, Transportation and Storage, and Accommodation and Food sectors.
“The pressure on the exchange rate will likely continue on the back of weak foreign exchange supply. Upward pressures on inflation rate will likely remain in the first half largely driven by supply constraints,” reads the statement.
Conglomerate Press Corporation plc will interact with its various stakeholders in Blantyre after a long break of interface engagements because of the Covid-19 pandemic restrictions.
Acting Chief Executive Officer for Press Corporation plc Dr Lyton Chithambo said in an interview yesterday that the stakeholders’ conference will be held on Friday 24 June 2022 under the theme ‘Growth’.
“Press Corporation plc has interests in financial services, energy sector, tourism, telecommunications and property management among others and we would like to interface with our various stakeholders having not been able to do this in the past three years or so due to the Covid-19 pandemic restrictions among other factors,” said Chithambo.
He said during the conference, Press Corporation plc and its group companies will share its growth strategies and experiences on how they have navigated through difficult times like the Covid -19 period.
“We would like to showcase and assure our shareholders and stakeholders that we are on the path for growth and we would like to hear from them their honest in-put to these strategies,” said Chithambo.
Press Corporation plc is registered on the Malawi Stock Exchange (MSE) and some of its companies include National Bank of Malawi (NBM) plc, Ethanol Company (Ethco) Press Cane Limited, Macsteel, TNM plc, Malawi Telecommunications Limited (MTL), Press Properties, Sunbird Tourism, The Foods Company Limited (TFCL) popularly known as Maldeco, Open Connect Limited (OCL), Puma Energy Malawi, LifeCo and Limbe Leaf Tobacco Company Limited (Limbe Leaf)
When it comes to the best quality entertainment, GOtv certainly delivers the best. GOtv SUPA subscribers can now enjoy 24-hour blockbuster movies on Studio Universal from 21 June 2022 on GOtv Supa channel 18.
Studio Universal is the ultimate destination for the best in Hollywood movies, offering a wide variety of choice from action, comedy and wholesome movies for the whole family to enjoy. Studio Universal brings the ultimate cinema experience into your home with uninterrupted viewing. To enjoy unmissable movies GOtv subscribers can upgrade their subscription by simply dialing *470# and following the prompts to conveniently access GOtv Supa content (standard tariffs apply).
Launched in November 2021, GOtv Supa offers a range of lifestyle and entertainment channels, featuring entertainment for the kids, drama-filled telenovelas, general entertainment, proudly African content, sports and more. An affordable upgrade that unlocks a world of the finest entertainment for the entire family.
Studio Universal joins a stable of incredible channels introduced upon the launch of GOtv Supa, which include Honey, WWE, TL Novelas, Novela Magic, Rok, Kix Channel, Zambezi Magic, National Geographic and Boomerang.
A Blantyre based fast-growing health care service provider, Nelchem Clinic which is located at Mbayani Township, has announced 50 percent reduction on their services.
Managing Director for the Clinic, Nelson Edward Munthali, who is also the clinician at the facility, disclosed the development in an interview with the publication on Monday.
“We decided to reduce our service fee by half as one way of siding with Malawians who are going through economic hardship but in need of health services,” said Munthali in an interview with our business correspondent.
According to Munthali, the clinic has well qualified health personals, enough drugs on stock and laboratory equipment.
The Clinic which provides services like Family Planning, Immunization for less than five, scanning among others and it is recognized by the Medical Council of Malawi (MCM) and Medicines and Poisons Board.
