By Mc Donald Chapalapata, a Contributor

Limbe Leaf Tobacco Company Limited (Limbe Leaf) has donated books and other learning materials for libraries at Lilongwe Girls Secondary School and Mwankhundi Primary School in Lilongwe rural to improve learning conditions and after school activities.

Presenting the donation at Lilongwe Girls Secondary School, Limbe Leaf Corporate Affairs Manager Leah Hez said it is the wish of Limbe Leaf to improve girls’ education hence the donation of books worth US$2,000 (approx. K1.5 million).

“It is important that we further a girl’s education by making sure that they have the necessary tools for their success and advancement,” said Hez.

Receiving the donation, Headmistress of the school Emily Mkokamasa thanked Limbe Leaf for the donation saying the school has a current enrollment of 619 students and 39 teachers with an MSCE pass rate that has averaged above 90% the last 5 years with a promotion ratio of 100%.

“We are grateful for this donation. The books will go a long way in developing the student’s reading culture especially those in story and cartoon form. The library is an educational tool but also a source of entertainment for the girls outside of classes,” said Mkokamasa.

Presenting more books and play items worth $7000 (approx. K5.3 Million) at the rural Mwankhundi Primary School, Hez said the donation was made to increase the stock of books that had previously been donated to the library which Limbe Leaf built at the school in 2019.

She said Limbe Leaf built and furnished the library to ensure that learners at the school and children of school going ages in the surrounding communities had a place of learning and spending their time so that they are not involved in any tobacco related work after school.

“It is important for communities to take care of donated materials so that current and future generations benefit from the same. It is also important to provide after school activities to students that benefit their learning and keep them from destructive behaviors after school activities,” said Hez.

The Primary Education Advisor for the area Trackson Chipalasa said the donation will provide the necessary teaching tools and space that enable teachers to better equip students.

“I urge the school administration and community to take care of the books and other resources once handed over, not to tear, sale or take home the books and play tools,” said Chipalasa.

Apart from further equipping the school library, Limbe Leaf also donated some play and educational items which included board games, play mats, building blocks, bowling pins and balls and other play items for nursery pupils at the School.

Group village headman Mwakhundi commended Limbe Leaf for improving the learning environment and changing the face of the school with present and previous donations.

Listed NBS Bank has partnered with Gesellschaft für Internationale Zusammenarbeit  (GIZ), commissioned by German Federal Ministry for Economic Cooperation and Development (BMZ) in the promotion of Agricultural Finance (AgriFin) project focusing on engaging both the supply and demand sides to small-scale farmers, farmer organizations and agri-based entrepreneurs.

On the supply side, GIZ, through the AgFin Project, has partnered with NBS Bank in the development of financial services adapted to the target groups’ needs and provide capacity building for the management and staff on the specifics of the agricultural sector.

 On the demand side, farmers and agri-based entrepreneurs will be trained to economically analyze their business and evaluate their financing options.

Speaking at the signing ceremony of the partnership in Blantyre, AgFin Team Leader, Harald Neimeier said by engaging the two key players in the agricultural financing channel, the project expects to have increased access to formal banking services by the rural population of which the majority are farmers.

“With increased access to banking services, the farmers and agri-based entrepreneurs will in turn invest more in agricultural production, processing and marketing to further develop their businesses,” said Neimeier.

He said the project will work in three fields of action namely product knowledge and development, support of farmers and agri-based rural enterprises and support of financial institutions.

“The project adapts existing and develops new analysis tools and training materials to enhance the economic and financial expertise of farms and agri-based enterprises and the agricultural know-how of partner financial institutions. With tailor-made training and advice, the project increases the competences of small-scale farmers, farmer organizations and agri-based enterprises in dealing with financial services and assessing potential investment opportunities,” explained Neimeier.

Speaking on behalf of NBS Bank, the Bank’s Chief Treasury Officer, Benedicto Nkhoma said NBS Bank will support the project by adapting and developing tailor-made banking products or services for the small-scale farmers, farmer organizations and agri-based entrepreneurs.

“We will be promoting digital based products and services for farmers and agri-business enterprises which will result in improved access to financial services by the targeted groups. This is in line with NBS Bank’s strategy in being a bank that brings about transformation in people’s lives. A huge proportion of Malawians depend on farming for their day to day welfare requirements,” said Nkhoma.

He also said the bank will build capacity through AgriFin training in collaboration with GIZ.

“This project aims at improving access to adapted or tailored financial services to 10,000 farmers and 200 agri-business enterprises in rural areas,” said Nkhoma.

By Mc Donald Chapalapata, a Contributor

National Bank of Malawi (NBM) plc on Thursday handed over items worth K10 million to the Citizens Response to Covid-19 Initiative for the fight against the pandemic.

The Bank pledged to pay for the items a few months ago after members of the Initiative, which is being led by France based Onjezani Kenani sourced the items on their own according to the needs of society in the fight against Covid-19 in the country.

Presenting the items in Blantyre, NBM plc Head of Human Capital Charles Dulira who is also Chair of the Bank’s Covid 19 Response Committee, said the Bank decided to contribute to the Citizens initiative because the war against the pandemic needs concerted efforts and unity to win.

“We have seen many people and organizations putting resources together to help in the fight against the pandemic. NBM has pumped in over K100 million in the fight against the pandemic. We also saw private individuals joining the fight against the pandemic because everyone is affected in one way or another.”

“The Citizens Response to Covid-19 Initiative shows just how hard individuals have worked to put resources together in the fight against the pandemic. Therefore, as the Bank of the Nation, NBM plc committed to donate items worth K10 million to the initiative which we are officially handing over today,” said Dulira.

 “The Bank will continue to put in place measures that protect its customers and employees from Covid-19 until this war is won,” said Dulira.

Receiving the items which included 200 oxygen pressure regulators and 800 spare O rings, Director of Finance and Distribution of the Initiative Masankho Mbizi hailed NBM plc for the donation saying it will positively impact the fight against Covid-19.

“We are very grateful to NBM plc for recognizing our efforts of helping in the fight against the pandemic. We are all aware that the government was overwhelmed with the second wave of the pandemic and needed support hence our initiative,” said Mbizi.

He said the Initiative closes its fundraising drive which has hit more than K200 million in cash and kind on 15 April 2021.

“We will have everything donated audited by AMG Global who are external auditors to ensure that there was transparency and accountability in terms of purchasing and distribution across the country because we have been open and transparent during our fundraising initiatives,” said Mbizi.

He also hailed the Ministry of Health for facilitating transport for distribution of the items to all the 28 districts of the country as per their plan of reaching out to all the people in the country.

Listed FDH Bank plc has reported an after tax profit of K14.9 billion for the year ending 31 December 2020 from a restated after tax profit of K5.19 billion the previous year.

In a statement signed by the Bank’s Chairperson Charity Mseka, Director Ulemu Katunga, managing Director Ellias Ngalande and Head of Finance Richard Chipezaani, the bank said it achieved the impressive financial results amid a challenging operating environment.

“Net Interest Income went up by 77% on the back of an increase in the loan book and other interest bearing assets. Interest expense went up by 15.8% reflecting the growth of the Bank’s deposits.”

“Non-interest Income in the year was significantly affected by the Covid-19 pandemic. Digital financial services fees were reduced by 40% to encourage people to transact more on digital platforms to reduce the spread of Covid-19. International trade and local business transaction volumes were affected by lock downs in trading partner countries which slowed down the economy,” read the statement in part.

The bank said total non-interest income could have dropped by 34% before the restatement and that as a result of the restatement, a significant portion of this revenue was recognized in 2020 after being restated from 2018 and2019.

“This resulted in non-interest income to grow by 29% from K22.02 billion in 2019 to K28.378 billion in 2020 after restatement,” reads the statement.

On the operating environment, the Bank said the Covid-19 pandemic negatively affected global and local economic growth in 2020 with the global gross domestic product (GDP) shrinking by an estimated 3.5% in 2020 while Malawi’s GDP grew by around 1.2%. This was, the Bank noted, from an initial pre-pandemic local GDP growth projection of 5.1% according to the Reserve Bank of Malawi (RBM).

“The slowdown in the economy has affected productivity in many sectors with most businesses operating at reduced capacity. This has also increased the expected credit losses as some businesses are expected to struggle to meet their financial obligations,” reads the statement in part.

FDH Bank plc also noted that the Kwacha depreciated against the United States dollar and other major currencies in the second half of 2020 due to the increased negative trade balance as exports slowed down due to logistical challenges resulting from lock downs while imports increased due to importation of Covid-19 related materials. This increased the cost of all foreign-based contracts that the Bank has.

FDH Bank which successfully listed on the Malawi Stock Exchange on 3^rd August 2020 with 20% shares being offered to the general public, paid an interim dividend of K3.0 billion in respect of 2020 profits on 26 March 2021 to members appearing in the register of the Company as at close of business on 12 March 2021.

The Bank envisages that the economy is expected to recover from the Covid-19 pandemic in 2021 but with the new wave of cases the 2021, Growth Domestic Product (GDP) growth prospects are likely going to be subdued.

“Global GDP growth for 2021 is expected to reach 5.54% while the local GDP growth is projected to be 4.5% contingent on the evolution of the pandemic according to the Reserve Bank of Malawi. Inflation is expected to average around 8%. We anticipate the Kwacha/US Dollar exchange rate to continue to depreciate in 2021 due to the high negative trade balance.”

“To continue being competitive and exploit existing and emerging opportunities in the market and deliver value to our customers, shareholders and other stakeholders, we have reviewed and developed a new cycle of strategic objectives to run from 2021 to 2024.”

“Leveraging on our market position, widest distribution network, effective digital platform, brand equity, and strong financial performance, we will focus on growing revenue and market share, reducing operating cost for sustainable performance and profitability, creating highly engaged employees and contributing significantly to the creation of an inclusive, diverse and sustainable society,” reads the statement in part.

By Mc Donald Chapalapata, a Contributor

Malawi’s pioneer mobile and ICT services provider TNM plc unveiled the first K1 million winner in the Tikolore promotion, a day after launching the three month long promotion in Lilongwe.

Estate Agent Francis Mtukanika, who was just passing Area 23 in Lilongwe after knocking off from work and bumped into the TNM team, became the first K1 million winner after buying airtime worth K200.

“I am happy that I have won this money. I did not believe it when I got the call but with just K200 which recharged my phone, I have won K1 million. I will use this money to set up a proper office for my business,” said Mtukanika.

Minister of Youth and Sports Ulemu Msungama who launched the promotion the previous night drew the winner in Area 23 which is also his constituency as a Member of Parliament.

He appealed to people to support the promotion saying it is a celebration of the harvest season as the country is expected to have a bumper yield this year.

TNP plc Chief Marketing Officer Frank Magombo said Mtukanika is the first of the 30 millionaires that the Tikolore promotion will produce by 1^st July 2021 when the promotion ends.

“You have seen that it is simple to make your first K1 million with just K200 of airtime. Our first winner Francis Mtukanika has just shown us that NdiZotheka (it is possible) to win. So I am appealing to all of you to buy airtime worth K200 or more and stand a chance to win,” said Magombo.

He said apart from creating the 30 millionaires, a total of 250 lucky customers win K10,000 every week for 12 weeks, making a total of 3,000 winners and 50 lucky customers will win K100,000 every month, making a total of 150 winners within three months.

Magombo said everyone is a winner in the promotion explaining that even if someone recharges with K100 airtime, they will instantly be rewarded with free minutes, data and SMSs.

“This promotion is an appreciation to our customers for choosing TNM as their communications and digital services provider hence the mega harvest promotion. Our purpose is connecting society, creating possibilities, and changing lives and that is why we are happy to make everyone a winner in this Tikolore promotion and people’s lives shall definitely be changed,” said Magombo.

The promotion runs from 1^st April to 1^st July 2021.