FDH Bank Plc has reached a significant milestone on the Malawi Stock Exchange (MSE), achieving a market capitalization of K2.161 trillion within just five years of listing.

As of February 4, 2025, the bank’s share price stood at K313.19, reflecting an extraordinary growth rate of 3032% from its initial public offering (IPO) price of K10 in 2020.

This achievement makes FDH Bank Plc the second counter on the MSE to surpass the K2 trillion market capitalization threshold, standing out among the 16 listed counters.

FDH Bank Plc Managing Director Noel Mkulichi attributed the success to the bank’s resilience, strategic vision, and customer-centric approach.

“We are pleased with this milestone, which underscores our commitment to delivering value to our stakeholders, particularly our investors. Our strategy is anchored by four strategic pillars: customer focus, operational efficiency, people development, and continuous innovation.”

“We aim to make FDH Bank Plc a significant enabler providing easily accessible and relevant financial solutions to both the private and public sectors of the economy, thereby significantly contributing towards the attainment of Malawi 2063,” said Mkulichi.

He further highlighted the bank’s dedication to adaptability, resilience, and sustainable growth while ensuring superior returns for shareholders.

Mkulichi also expressed gratitude to investors and customers for their trust and confidence in FDH Bank Plc.

“FDH Bank Plc’s strong financial performance has yielded lucrative returns for investors. In 2024 alone, the bank distributed dividends totalling K28.087 billion, comprising a first interim dividend of K13.043 billion in August and a second interim dividend of K15.044 billion. This translated to a total payout of K4.07 per share.”

“Additionally, shareholders received encouraging news in January 2025 when the bank issued a revised Trading Statement for the December 31, 2024 financial year. The statement projected a profit after tax ranging between K72.9 billion and K75.2 billion, further solidifying FDH Bank Plc’s position as a highly profitable institution,” said Mkulichi.

FDH Bank Plc continues to assert itself as a leading digital bank in Malawi, pioneering innovations and expanding its services.

Notably, it remains the only bank in Malawi offering Sharia-compliant banking and maintains a presence in every district, including the remote Likoma Island.

Mary Chilima, wife to late Vice President Saulos Chilima is set to launch the Saulos Klaus Chilima (SKC) Foundation, a non-partisan and non-political organisation aiming at fulfilling the vision and goals of the departed Veep.

Chilima said in an exclusive interview in Lilongwe that the Foundation will be launched on 12 February 2025, which would have been Chilima’s 52 birthday.

Chilima said the SKC Foundation, is a duly registered Trust which will be overseen by a Board of Trustees, whose mission is to support the fulfilment of the vision and goals of the late Chilima in a ‘non-partisan and non-political’ manner.

“The Saulos Klaus Chilima Foundation intends to serve as a beacon of hope, progress, and empowerment for Malawians. By promoting education, self-reliance, and leadership while maintaining a non-political stance, the Foundation will ensure Dr. Chilima’s vision for Malawi and Africa is realized for generations to come,” she said.

She said the launch will be a gala event which will take place at the Bingu International Convention Centre (BICC).

Chilima also said in line with its vision of continuing Dr Chilima’s legacy, the Foundation is guided by among other objectives which include supporting education for underprivileged students in Malawi, providing aid to those in need during unforeseen crises, encouraging self-sufficiency among Malawians, promoting youth leadership development and also promoting collective mindset change.

“To achieve the objectives, the SKC Foundation plans to embark on various resource mobilisation initiatives such as corporate sponsorship, crowdfunding and charity events. This accords the Foundation the opportunity to pay tribute to him by simultaneously celebrating his life and raising funds to continue his initiatives,” said Chilima.

She said tickets to the launch gala are being sold at a price of MK100,000 per person for the silver category, MK200,000 per person for the gold category and MK300,000 per person for the platinum category.

“The launch gala will be a black-tie event which will comprise dinner, speeches, and tributes to the late Dr Saulos Klaus Chilima,” said Chilima.

The late Vice President died in a plane crash together with eight others on 10 June 2024 in Chikangawa Forest on their way to a funeral in Nkhata-Bay.

A verbal war has ensured between Shadow Member of Parliament for South Lunzu Constituency Alex Chimwala and Democratic Progressive Party (DPP) regional governor for the South Charles Mchacha over the latter’s return to the Party.

It all started on Sunday when Chimwala and his followers stormed South Lunzu Primary School DPP Constituency office with an aim of availing himself as one of the party’s aspirants ahead of September 16, 2025 general elections.

It is said that Chimwala and his followers found the office locked despite him following due processes as stipulated in DPP constitution.

Inside sources who opted for anonymity tipped Chimwala that Mchacha warned the governor and governess not to accept his candidature.

“Before coming here, I first availed myself to the area as per procedure, the area committee informed the constituency governess and her team of my intention and they accepted it.

“Sadly after arriving here, I found the office locked. My inquiry has revealed that the governor and governess are acting on instruction from above,” said Chimwala.

He added: “I followed it up with the DPP’s regional governor Charles Mchacha who later called the governor and the governess and this did not yield any tangible results. Why are these people rejecting me? Yes I dumped the Party but now I have returned home and I want to contest as MP.”

When contacted to confirm on the Chimwala’s rejection, Mchacha distanced himself from the claims.

“It’s not true that Chimwala has been rejected at the constituency but all we want is for him to follow proper channels as stipulated in the DPP constitution. First he has to avail himself to the area and he should be welcomed.

“Chimwala dumped the party and the news was all over the social media and yet he has not gone to the same social media to announce his return to DPP. How will the party trust him? How different is he from Owen Chomanika and Joyce Chitsulo who used the party and now dying with the ruling Malawi Congress Party?” Queried Mchacha.

 On her part, DPP governess Caroline Mlenga accused Chimwala of ambushing her office.

“I was not aware that Chimwala is coming to avail himself to my office and he did not convey the same message to the region,” said Mlenga.

Chimwala once contested as DPP Member in Blantyre City East Constituency before joining the ruling Malawi Congress Party.

Meanwhile, Chimwala has vowed to push for justice on the matter as he is entitled to join any political party in the country.

Business Partners International (BPI), a fund manager that provides debt equity financing, has disclosed that it has supported various business ventures in the country to the tune of K25 billion ($15 million).

BPI Country Manager, Bond Mtembezeka said this is part of its commitment to supporting entrepreneurs by providing tailored financial solutions.

Mtembezeka disclosed this during a customer interaction breakfast in Blantyre on Friday, bringing together entrepreneurs to engage with the financier on funding opportunities and business growth strategies.

“We would like to recommend to entrepreneurs that as Business Partners International, we are here for them. There are plenty of opportunities in the market, and we have established ourselves as a go-to financier. If they are looking to buy equipment and invest in property, we are ready to provide that kind of funding solution,” said Mtembezeka.

He highlighted that the session was highly interactive, allowing entrepreneurs to ask pertinent questions and gain deeper insights into BPI’s investment approach.

“We have answered a lot of questions that entrepreneurs had, giving them a clear understanding of what Business Partners invests in and what we don’t. We have also explained our pricing structure and emphasized that we agree on repayment terms with our clients.”

“So far, the response has been quite positive, and our portfolio is growing rapidly. We expect to see the desired impact in the coming years,” said Mtembezeka.

One of the entrepreneurs, Lucious Dzimbili, Managing Director of Meshozi Construction Limited, expressed gratitude for the session, stating that it provided valuable insights into how businesses, like his, can benefit from BPI’s financial solutions.

“As entrepreneurs, we are very grateful to BPI for organizing this interaction, which has enlightened us on how to grow our businesses. We had the opportunity to present our needs as contractors and understand how BPI can support us.”

“In the construction industry, we require significant capital investment in equipment, and this session has helped us understand the steps we need to take to secure funding. A partnership with BPI will indeed help us grow our business,” said Dzimbili

Malawi’s pioneer mobile network and ICT services provider Telekom Networks Malawi Plc (TNM) has reiterated the need to build leadership capacity amongst its female employees to ensure operational sustainability.

This was revealed in Blantyre during TNM’s Pink Potential graduation ceremony which graduated 34 female leaders from different departments in the business after going through various leadership trainings. 

The guest of honor, Maureen Mbeye, Press Corporation Limited’s Chief Finance and Administrative Executive said TNM is rising to the global challenge of creating opportunities for female leaders to take up challenging roles and ensure they succeed.

“Female employees are crucial to the growth of TNM the company that is contributing to the economic development of Malawi. The goal for the Pink Potential Program is to upskill female employees making them ready to excel in leadership positions across the business,” said Mbeye.

She called on the graduates not to make use of the knowledge acquired so that they move up the ladder and contribute effectively to the growth of the company and themselves. 

“This is a great opportunity which also calls for greater commitment and responsibilities to perform beyond your scoop of work. There will be challenges, however, the acquired skills will help you to excel and grow in the organization and as individuals,” she advised.

One of the graduates, Lydia Chisale, TNM’s Application Engineer for Call Network, said the program has presented great opportunities earmarked to propel her growth and contribution to leadership in the company.

“I have learned that we can benefit from both our weaknesses and strengths. This has increased my understanding in a way that I am able to be innovative and think outside the box when executing my duties,” said Chisale. 

TNM’s Chief Executive Officer Michel Hebert said as a progressive business, TNM’s investment in its employees is one of the best decisions the business makes to meet global standards.

“Pink Potential programme is one of the deliberate initiatives aimed at creating new female leaders.  To continue with TNM’s business growth trajectory, skilled leaders will form an integral part of the growth and female leaders will have an even more critical role to play,” Hebert.

He highlighted that TNM’s quest is to be the Malawi’s pride and challenged the graduates to take a leading role towards this aspiration.

“The training is only the first step, but you need to do more. The company needs to get a return on this investment. You must continue to invest in yourself, your career, and growth to become better leaders,” he said.

Launched in 2024, The Pink Potential Program equips TNM’s female employees for leadership roles taking them through a series of interactive workshops, seminars, and mentoring sessions to develop vital skills, build confidence, and unlock their full potential.

The Program covers various topics, including personal branding, leadership development, negotiation skills, assertiveness, communication, and work-life balance.

Malawi’s Attorney General, Thabo Chakaka Nyirenda, has taken a strong stance against corruption, urging governments and investors to prioritize transparency and accountability in international investment agreements.

Speaking at the Sovereign and States Disputes and Enforcement Summit 2025 in London, Nyirenda emphasized the need for investors to comply with domestic laws and regulations, including those related to environmental and social impact assessments, human rights, corruption, and corporate governance.

“The days of corrupt practices and illicit financial flows must come to an end,” Nyirenda said. “Investors must be held accountable for their actions, and governments must prioritize transparency and accountability in their investment agreements.”

Nyirenda also highlighted the importance of the African Continental Free Trade Area (AfCFTA) Protocol on Investment, which imposes obligations on state parties to promote and enforce laws and policies protecting investment-related human rights, labor rights, and the environment.

He noted that corruption and illicit financial flows in Africa cost the continent billions of dollars each year.

In addition, Nyirenda stressed the need for transparency in third-party funding, suggesting that those who provide funding for litigation should not only share in the benefits of a successful outcome but also bear the burden of a litigation loss.

“Include the aspect of third-party funding that not only should they share the benefit of a successful litigation but also the burden of a litigation loss, namely, they should be liable to cost awards,” he said.

He also emphasized the role of arbitration tribunals in detecting fraud, corruption, and financial crime. “Arbitration tribunals should not just be watchdogs but also bloodhounds. They should not just be neutral bystanders but also detectives of fraud, corruption and financial crime in general.”

Nyirenda cited several cases to illustrate the importance of transparency and accountability in investment agreements, including Indiana Resources Ltd v Republic of Tanzania, ECo Development and ECoEnergy v Republic of Tanzania, World Duty Free Ltd v Republic of Kenya, and Federal Republic of Nigeria v Process & Industrial Developments Ltd.

“Malawi is committed to fighting corruption and promoting transparency and accountability in all its investment agreements,” Nyirenda said. “We urge all governments and investors to join us in this fight, and to prioritize the interests of our citizens and the environment.”

Sources privy to the publication reveals that the Lilongwe City Council authorities have reshuffled some of its key staff and directors in various directorate as one way of ensuring efficiency and effective service delivery.

According to the source, the recent shake follows a key staff performance appraisal exercise effected in response to the feedback collected from the capital city dwellers.

The source disclosed that the unprecedented levels of underperformance by most directorates were going out of hand as all the directors were on permanent position except for the Chief Executive Officer was on contract.

“The above development was a breeding ground for sabotage, the directors could do as it pleases since their safety was guaranteed, by the end of the day it was the CEO who was paying the price” said our source.

Some of the city council officers we spoke to also collaborated with the source adding that the fresh shakeup may likely meet heavy resistance from other quarters since some of the affected individuals have served and stayed on senior positions for close to 30 years.

However, the decision to move some offices is touted to bring huge impact on the future undertakings in the city and lead to quality service delivery to the city dwellers.

A probe into the performance appraisal report shows yawning gaps in the directories such as finance, commerce, legal, planning, health and public works.

For example, the finance directorate is failing to pay December salaries for some city council employees and that suppliers no longer have interest to do business with the council due to non-payment of goods and services delivered.

Also, commerce department is marred with incidences of officers directing city revenue into personal pockets as well asunder collection for no apparent reason and justification.

The report shows that the planning and development directorate has been deliberately frustrated developers dude to selfish interests of some officers, in addition to unnecessary delays in approval. Officers in the directorate have further been found to have set up parallel approval systems between the subordinates and the directorate resulting in approvals that do not bring revenue to the council but rather individuals.

Similarly, the report indicates that the legal directorate has scored the lowest during the appraisal and it further reveals that the council is suffocating due to huge court damages.

Under health directorate, the report shows deplorable sanitation, very slow to act, and that the city is turning into garbage center.

With regard to public works directorate, the report indicates that there is poor state of the road when each road has a dedicated contractor.

NBS Bank plc has received a strategic investment of $5 million from Belgium-based EDFI Management Company (EDFI MC) through its EU-funded Agriculture Financing Initiative AgriFI, to support the diversification of the agricultural sector and contribute to the economic development of Malawi. 

A statement from EDFI MC, a multilaterally owned impact asset manager said the investment is part of the ACP (African, Carribbean, and Pacific) regional window, supported by the Secretariat of the Organization of African, Caribbean, and Pacific States (OACPS) aimed at strengthening and supporting the ‘Caring Bank’ to become the reference lender to the food and agriculture segment in Malawi.

In his remarks, NBS Bank plc Chief Executive Officer Kwanele Ngwenya said the investment will help achieve the bank’s role of giving farmers access to financing to grow crops, produce, and add value.

“We are thrilled to receive this strategic investment from EDFI Management Company. This funding will enable us to enhance our support for strong agriculture sector businesses and related smallholders in Malawi, providing them with the necessary resources and financing to expand processing capacity and improve their productivity and livelihoods.”

“Our focus on key agricultural value chains will not only benefit the farmers but also contribute to the country’s economic growth,” said Ngwenya.

The statement further highlighted that NBS Bank plc is pursuing an ecosystem approach, identifying strong transformers and exporters in the tea and macadamia value eligible to receive the bank’s financing to support the diversification of the agricultural sector.

EDFI MC Chief Executive Officer Rodrigo Madrazo said by facilitating access to financing and resources the investment has a significant impact on smallholder farmers.  

“Our investment in NBS Bank plc underscores our commitment to supporting smallholder farmers in Malawi. By focusing on key agricultural value chains, we aim to enhance productivity and livelihoods, and drive sustainable growth in the region,” said Madrazo.

In her remarks, OACPS Expert in value chain Yvonne Chileshe her organization is happy to support the significant investment in NBS Bank plc.

“By focusing on smallholder farmers and key agricultural value chains, this initiative aligns perfectly with our mission to facilitate access to finance for the missing middle thereby promoting sustainable development and improving livelihoods across the OACPS region. We believe that this collaboration will drive positive change and create opportunities for smallholder farmers to thrive,” said Chileshe.

In 2023 the ‘Caring Bank’ also acquired a 10-year Five million US dollar loan from the International Fund for Agricultural Development (IFAD) with a similar purpose of providing specialized financial services and support to businesses involved in the agriculture sector.  

Blantyre, January 28, 2025 – Malawi’s pioneer mobile telecommunications company, TNM Plc, has successfully commissioned new network capacity in key cities, reinforcing its commitment to providing high-quality and reliable connectivity to customers.

The new network sites in Blantyre, Zomba, Mangochi, Lilongwe, and Mzuzu aim to guarantee TNM Plc customers consistent quality of voice calls and internet experience.

TNM’s Chief Technical Officer said that the latest infrastructure upgrade will deliver faster speeds, increased reliability, and improved customer experience for residents and businesses alike.

“This milestone speaks directly to our mission of providing world-class digital solutions to empower every Malawian and connect Malawi to the whole world. To our customers, this means that they will experience even much higher quality voice calls and data services by offering guaranteed best connectivity onto our network,” said Gowera.

According to TNM, the commissioning of the new network capacity sites signifies the beginning of this year’s journey to building a more resilient and superior network that offers unmatched network quality and user experience.

“Our continued investment in state-of-the-art technology ensures that our customers can enjoy a seamless, high-speed connection. The new capacity sites, therefore, will go a long way to provide best-in-class services and satisfy ever-increasing demand from capacity and high-speed internet perspectives, complemented by our diverse and resilient international fiber network that links Malawi to the rest of the world,” he said.

Gowera said that key sectors that contribute positively to the economy will reap the benefits of the improved network by TNM.

“At TNM, we believe that access to quality network services in mobile communication is a catalyst to boost economic growth as it supports innovation and improvements in many sectors, such as agriculture, tourism, mining, health, economics, and education. The improved sites will open new economic possibilities for the country given that some of these sites either had no network signal before or experienced weak signal,” he said.

Through the additional sites, TNM is effectively increasing access to world-class mobile telecommunications and ICT services to customers as well as digital financial solutions offered through Mpamba.  

As a leader in telecommunication innovation, TNM has announced the completion of the pilot phase for the introduction of 5G technology, which it pioneered in Malawi in 2023. After piloting for a year, TNM will now transition to a full rollout targeting the four major cities of Lilongwe, Blantyre, Zomba, and Mzuzu.

The company has committed to continue leveraging cutting-edge technologies to drive future growth while remaining committed to operational excellence and expanding its customer base.

President Dr Lazarus Chakwera has described the Mission 300 Energy Summit as crucial and instrumental in providing electric energy to all Malawians across the country.

He made these remarks after inspecting a guard of honor at Kamuzu Palace in Lilongwe today, before leaving for Tanzania, for the Mission 300 energy summit.

President Chakwera emphasised the importance of energy in realising the country’s vision, stating that energy is an essential enabler of development.

He highlighted that his administration has doubled access to energy in the last four years, with the government’s intention to increase access from 25% to 75% by 2030 with the help of Mission 300.

He commended the World Bank and the African Development Bank for being close partners in helping Malawi realise its energy goals. He stated that he aims to attend this summit to kickstart this significant project, which concerns the entire continent.

The President reassured Malawians that issues of food security, wealth creation, job creation in line with agricultural productivity, urbanisation, and the desire to industrialise will be realised through such projects.

Among those accompanying the President are Minister of Justice Titus Mvalo, Secretary to the Office of the President and Cabinet Collen Zamba, Mayor of Lilongwe City Esther Sagawa, Deputy Minister of Foreign Affairs Nangozo Kainga, Deputy Minister of Local Government, Unity, and Culture Joyce Chitsuro, Inkosi Yamakosi Mbelwa, Ambassador of Zimbabwe to Malawi Nancy Nsaungweme, and other senior government officials.