Friday, March 7, 2025
الرئيسية بلوق الصفحة 156

NBM plc rolls out Insurance premium financing product

By Mc Donald Chapalapata, a Contributor

Kasunda:NBM plc Head of Retail Banking Division

National Bank of Malawi (NBM) plc has rolled out an insurance premium financing facility where the bank will pay annual insurance premiums on behalf of its customers thereby freeing up their cash flow in the process.

Announcing the introduction of the facility in Blantyre, NBM plc Head of Retail Banking Division Oswin Kasunda said the Insurance Premium Finance (IPF) product allows the bank to pay insurance premiums to the insurance company on behalf of the customer and grants a loan to the customer which is repaid in monthly instalments.

“The facility enables our customers both retail and corporate clients to pay their insurance premiums in instalments rather than in one lump sum amount. This facility has a low interest rate and allows the customer to spread the cost of insurance over the term of the loan,” said Kasunda.

“Insurance Premium Finance also smoothens business cash flow by allowing payment of premiums in monthly affordable instalments.The security for the loan is the policy itself and its proceeds, no other security is required,” added Kasunda.

He explained that the first instalment is due at the inception of the policy and the product has a maximum tenor of 10 months and minimum of 8 months.

“This product covers premiums for commercial, auto, plant and machinery and other major insurance covers,” said Kasunda.

He said the facility offers a quality service and foster goodwill between the bank and insurance customers who have had challenges to pay insurance premiums upfront.

“We also feel that by offering this product in partnership with insurance brokers and insurance companies we will have established a long term mutual benefit relationship to all parties,” said Kasunda.

A prospective customer Phumisa Kaitane who is Head of Finance and Corporate Services at Nation Publications Limited (NPL) hailed NBM plc for coming up with the facility saying it has come at a right time when most companies and individuals are facing cash flow challenges due to the Covid-19 pandemic.

“As a customer, I manage multiple insurance policies for both corporate and employees and this involves a huge upfront cash outlay and this product will definitely eliminate this requirement and ease my cash flows for management of other operations.”

“Employees always seek relief from the company to have their insurance premiums defrayed over a period and with this product, I will have the leverage to bundle all the insurance needs of these employees into a single premium finance contract, allowing for a single payment plan that the company will administer on their behalf with the bank,” said Kaitane.

Illovo concludes K100 million promotion…‘Tayiponyela kwakuya indeed’ says Katandula

Katandula (right) draws a lucky winner

Giant sugar maker Illovo Sugar Malawi plc has concluded a three month K100 million promotion dubbed ‘Iponyeleni kwakuya ndi Illovo’ saying it has achieved its objectives of exciting and rewarding its customers and would be customers.

Speaking in Blantyre at the end of the promotion, Illovo Sugar Malawi plc Managing Director Lekani Katandula although the year 2020 was generally a difficult year for everyone with COVID-19 pandemic having such dire effects on many businesses and the nation as a whole; as business Illovo Malawi plc managed to achieve some positive outcomes through the promotion.

“Not only did we manage to excite and reward our customers, shoppers and consumers through the IPONYERENI KWAKUYA PROMOTION, we also managed to increase our provisional seasonal price for sugar cane per ton to our growers from MK225, 653 per ton to MK244, 245 per ton,” said Katandula.

He said through the K100 million worth promotion which was launched in October 2020, six customers are now new proud owners of six brand new Nissan NP 200 pick-ups and 202 customers have  won bicycles and an addition 336 customers were rewarded with bags of fertilizers.

Katandula speaks at the end of the promotion

“More than 8,000 shoppers have also walked away with different branded items like zitenje, t-shirts, shopping bags, caps, mugs amongst other items. I believe TAYIPONYERA KWAKUYA indeed!” said Katandula.

He hailed his commercial team for a job well done in driving the promotion and all other functions within the business that work tirelessly to ensure that the company has enough product throughout the year and in the right sizes across the country to meet their customer, shopper and consumer needs.

Katandula said they decided to come up with the promotion as one way of building value for their customers and consumers.

The promotion was categorized in four namely stockists, grocers and table tops, mystery shopper activation and supermarket promotion where customers, shoppers and consumers won various prizes.

AfDB appoints Malawian economist Kennedy Mbekeani As Southern Africa’s Deputy Director General

MBEKEANI: Well deserved

The African Development Bank (AfDB) on Wednesday, January 6, 2021 appointed Malawian economist Kennedy K. Mbekeani as a Deputy Director General for Southern Africa Region.

Mbekeani is among five deputy directors and three directors ADB appointed for the East, Central and Southern Africa regions and Deputy Directors General for the East, Central, Northern, Southern and West Africa regions.

Kennedy is a seasoned development economist with over 20 years of senior level country and regional experience in development finance, project management, policy advisory services, and knowledge generation.

Mbekeani joined the Bank in 2009 as Chief Trade and Regional Integration Officer. He provided leadership in formulating the Bank’s trade assistance strategy to regional economic communities and on policy research on international trade, economic integration and development.

Three directors and eight deputy directors appointed by ADB Kennedy was Lead Regional Economist (2012-2014) at the South African Resource Centre. He later served as Officer in Charge and Acting Regional Director of the Bank’s South African Resource Centre in South Africa (2014-2016) where he led the largest syndicated A/B Loan arranged in Africa to-date.

He was appointed Officer in Charge of the African Development Bank’s Ghana Country Office in February 2017.

In September 2017, African Development Bank President, Dr. Akinwumi A. Adesina, appointed him as Country Manager, Uganda Country Office where he grew the portfolio to over US$2 billion.

Before joining the Bank, Kennedy worked for the UNDP as a Trade, Debt and Globalisation Advisor for East and Southern Africa.

Prior to that he worked as a Senior Research Fellow at the Botswana Institute for Development Policy Analysis, and as Senior Economist at the National Institute for Economic Policy in South Africa.

Commenting on his appointment, Mbekeani said: “I am pleased to work with President Adesina to support execution of his vision for the Bank and the continent and accelerate delivery on the High 5s”.

Kennedy holds a Bachelor of Social Science degree from the University of Malawi, MPhil (Monetary Economics) from the University of Glasgow, MA and a PhD in International Economics from the University of California.

He has published on trade, regional integration, and infrastructure development in Africa.

Commenting on the appointment, Dr. Adesina said: “Kennedy is a rounded professional, with broad experience in international development.

His capacity to deliver in various areas will help to build strong partnerships in the region and to promote both private and public sectors operations.” Kennedy’s boss is a Tunisian national, Leïla Farah Mokadem as Director General for Southern Africa Region.

Peoples awards SPAR City Centre competition winner

0

By Mc Donald Chapalapata, a Contributor

SPAR City Centre Store Manager Charles Matita (right) presents the Mountain Bike to winner Matilda Namondwe

Peoples Trading Centre (PTC) under the SPAR franchise on Monday handed over a mountain bike to the winner of SPAR City Centre festive competition in Lilongwe.

Spar City Centre Store Manager Charles Matita presented the bike to the winner Matilda Namondwe on Monday.

In an interview People’s Marketing and Communications Manager Chiku Kaphuka said the just ended year was tough for business but thanks their customers for demonstrating loyalty to the brand.

“It was fitting for PTC to give back and appreciate their unwavering support,” said Kaphuka.

On her part, Namondwe thanked PTC for running the competition during the festive season.

“I feel so happy and I am over the moon to be the 2020 SPAR City Centre mountain bike competition winner. It is a dream come true and I owe it to God. All in all, I commend SPAR City Centre for the great initiative this past festive season. This bike is my New Year’s present,” said Namondwe.

To enter the competition that ran from 24 December to 31 December 2020, a customer was required to buy goods worth a minimum of K30,000 at the Spar City Centre store in Lilongwe.

Medical Doctor Cum Musician Drew Drops ‘Always There’ Single

As one way of giving hope to the hopeless souls in the year started, a Blantyre based upcoming-gospel artist Dr. Drew real name Andrew Mijoya has released a new single titled ‘Always There’.

In an interview with the publication on Tuesday, Dr. Drew said the new single aims at encouraging people who suffered a ‘big time’ during the previous year saying God is always there to provide for them in 2021.

God is always There- Drew

“Last year was a difficult year for everybody, but there were those who suffered greater losses than others. And as we have now entered 2021, God’s promise to his children is that through the fire and the rain He will be there.

He will never forsake them. There will be greater challenges than those of last year, but God will be a present help,” said Dr. Drew, who is a medical doctor by profession.

The song ‘Always There’ has been produced and recorded by AB Malinga of Melodix Studios and can be downloaded on www.malawisounds.com and www. goldencitytower.com.

The artist Dr. Drew started his music career way back with the trio ‘Third Heaven’ before joining Faith Mussa’s Mdidi Band as Piano Player.

Msungama in trouble, faces chop on hair transplant scandal

MSUNGAMA: In trouble

Beleaguered Minister of Sports Ulemu Msungama faces the chop upon return from India where he blew millions of taxpayers for his hair transplant.

Insiders at Kamuzu Palace said President Chakwera is livid with reports that his minister could disrespect hard working Malawians with his hair surgery stunt.

“The President is definitely going to sack Minister Msungama upon his return from India,” said the source.

Another source at Capital Hill said State House officials requested information on whether the Medical Aid Society of Malawi (Masm) covers ‘ailments’ such as hair transplants in their policies and information was passed on to State House.

“We gave them the information they were looking for. Masm does not cover for hair transplants even circumcision, they do not cover that,” said our highly placed and impeccable source.

Msungama has been trending on social media for the wrong reasons after revelations that he had used his position as a cabinet minister to force the ministry of health to put him on a referral list of patients requiring foreign medical assistance on his knee.

However, pictures of Msungama appeared with a bandage on his head following the hair transplant and not the knee problems he had gone to India for. The minister is said to have broken his knee while playing for SOCIAL football in Lilongwe.

Msungama defended his hair transplant surgery saying his is using personal resources through his Masm health insurance policy.

Our investigations have found out that Masm does not have a policy which covers for hair transplants.

Youth Minister Msungama Sticks Out A Middle Finger To Malawians…Undergoes Luxurious Hair Transplant In India On Taxpayers Money

Impunity at its best! Minister of Youth and Sports Ulemu Msungama has raised a middle finger at Malawians by going to New Delhi, India to undergo hair transplant on tax payers money at the expense of well deserving Malawians.

Msungama lied to the ministry of Heath that he has fracture on his knee so that he gets a free ride to India.

According to government working conditions for cabinet ministers, they are entitled to health insurance and if need be to seek specialist doctors in the country or outside Malawi but duly approved by Ministry of Heath. But unfortunately hair transplant is a not a disease that Malawians must pay for the Minister to get treatment for.

Some social commentators have described the move as an insult to poor tax payers who are currently struggling to make ends meet with the recent fuel hike that has resulted in skylocating in prices of goods and services.

“Malawi has a lot of serious cases of poor people who are need of seeking medical treatment outside the country but they can not afford to do but here is the whole Minister of President Chakwera, misusing hard earned taxes to pay for his hairstyle,” said of the well known commentators.

There is a video that is flying on social media that is showing Msungama chatting with a medical doctor in India with his head in bandages.

Ironically the doctor who conducted the transplant is bald -headed!

Chakwera grooms Mkaka for MCP presidency …Political Analyst spell doom for Mia.

Battle lines drawn! Malawi Congress Party (MCP) president Lazarus Chakwera has started grooming embattled Secretary General Eseinhower Mkaka to take over from him in 2025.

We can reveal that Chakwera has made a decision not to go for a second term in 2025 after hearty discussions with his wife and children and has earmarked Mkaka for the top post.

“Despite all the scandals that Mkaka has been involved lately, the President is convinced he is the right man to succeed him in 2025,” said a source privy to the plan.

He said Chakwera was also considering another youthful politician Sam Kawale for the position but he has settled for Mkaka. “Mkaka has appeared before the President on issues to do with his involvement on NOCMA deals but he will not be reprimanded because he is the chosen one,” said the source.

A political analyst said Mkaka’s preference for the MCP presidency is more of where he is coming from than capacity. “Chakwera wants to be succeeded by someone from his home district and that is Mkaka,” said the analyst.

Initially, Sidik Mia is the one who was tipped to lead after Chakwera leaves the stage but Chakwera has been tipped that MCP has base, and its headquarters is central region and that he must not give the party to the “outcasts” like Mia who comes from southern region and he mercurial in politics.

Mia is also seen as someone who used his money to ‘buy’ the MCP Vice Presidency. Chakwera has started his presidency on a shacky note with almost all promises failed to take place and this has cast doubts in his leadership skills according to many socioeconomic experts.

Political analysts have since advised MCP not to undermine the coming back of DPP in government as they have best structures in terms political landscape and calling Kondwani Nankhumwa as mechanical engineer of politics who seem to have understood politics of Bakili Muluzi and late Bingu wa Mutharika of stimulating the grassroots with a ‘touching spirit’.

85% Of DPP supporters are behind Nankhumwa-Political analysts tell Nation Newspaper

Three renowned political science and communication experts have said Kondwani Nankhumwa who is Leader of the Opposition in Parliament stands a higher chance of winning at the convention which DPP is to hold soon if the playing field is levelled.

The experts tells today’s NATION NEWSPAPER in awake of the news that Dr Daliso Kabambe, the former Reserve Bank Governor has joined the Democratic Progressive Party(DPP) on 31st December, 2020 at the party’s Southern Region headquarters in Blantyre.

Ernest Thindwa, a political science lecturer at Chancellor college has described Daliso Kabambe that he has a slim chance of beating Nankhumwa at the convention as the Mulanje Central legislator is a household name at the moment in DPP and the entire nation.

In his analysis, Integrity Platform, Governance and Communication, political analyst Godfrey Pumbwa has put it blatantly that most DPP faithful are rallying behind Nankhumwa at the moment and it will be difficult for Kabambe, Msaka and Mwanamveka to dislodge him.

Concurring with two is Peter Chisi, the director of civil and political at Malawi Human Rights Organization, has said there is none of the three who can dislodge Nankhumwa even if they combine as Nankhumwa is the ” man of the people ” at the moment.

According to Charles Mchacha, the DPP regional governor for the South has said, next week, DPP will be unveiling Kondwani Nankhumwa at it’s headquarters as a presidential candidate at their convention.So far four people namely, Nankhumwa, Kabambe, Msaka, and Mwanamveka have shown interest of contesting at the party’s convention.

Nankhumwa comes from Mulanje while Kabambe comes from Thyolo where former President Prof Arthur Peter Mutharika comes from and are said to be related.

Mwanamveka comes from Chiradzuru while Msaka comes from Machinga. Kabambe is under investigation by Malawi government for his K27 million salary and other benefits which financial experts have pressed an alarm button.

Nankhumwa was last week in Mzuzu where he attended the farewell ceremony of Rev Levi Nyondo who has retired as General Secretary of the Livingstonia Synod.

MANGOCHI, MOZAMBICAN DCs SETTLE BORDER ROW…To Have Joint Boarder Patrols

0
SUCCESFUL MEETING: Group photograph after the meeting

Mangochi District Council has taken an extra gear in resolving border issues with their counterparts from Mandimba, Ngauma and Macanyela districts in Mozambique bordering Mangochi following a meeting held on 11- 12 November in Mangochi.

On Saturday, December 19, the District Commissioner for Mangochi Dr. Raphael Piringu accompanied by some officers from the Malawi Defence Force (MDF), Malawi Police Services, Office of the President and Cabinet (OPC), department of Immigration and council officials visited Mandimba district for an official meeting with the DCs.

During the meeting, the DCs agreed to have joint boarder patrols, settle boarder issues in Makanjira and Katuli. They also resolved to start offering boarder pass between two countries for easy crossing of local people.

During the meeting, the Malawi team also negotiated the release of four Malawian nationals from Bwananyambi who were arrested based on boarder issues. They later established that they had no crime. The four will therefore be released on January 7.

“We also agreed on sharing health information outbreaks including Covid- 19, cross boarder management and cross boarder theft. We also seized the opportunity to market the beautiful shores of Mangochi and invite them to visit as part of boasting tourism,” said Piringu adding that the next meeting will be held in April 2021.

This vital trip was supported by Malawi Red Cross Society, World Vision International (WVI) and Emmanuel International under Titukulane Project.