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Malawi Investments, Online News

Malawi Press Properties Ltd goes online

BLANTYRE (MaraviPost) -- Press Properties Limited (PPL), renowned providers of residential and commercial accommodation spaces in the country, has unveiled a website to ease access of information for its clients and business associates.Google

PPL is a subsidiary of the Press Corporation Limited (PCL) firm. All its services and products can now be accessed online on www.pressproperties.com.

“We have achieved a milestone,” said Agness Valera, chairperson of PPL. “Now we can be accessed online 24/7.”

According to Valera, the company is committed to becoming the best players in the industry.

“The full range of services we offer are catered towards the long-term benefits of our customers,” explained Valera.

She added: “PPL has accumulated a wealth of experience in property development and assembled a strong management team in preparation of its full expansion and development plans.”

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MOAM want excise duty reduced on minibuses, admits business struggle

LILONGWE (MaraviPost) -- Officials of the Minibus Owners Association of Malawi have admitted that minibus business is struggling due to lack of recapitalization owing to punitive excise duty taxes imposed in minibus imports.

MOAM General Secretary Coxley Kamange said in an interview that they have written finance minister Goodall Gondwe to consider reducing the excise duty on minibus importation so that the grouping is enabled to afford importing minibuses at sustainable rate.

"We are currently unable to import new minibuses, if you can see our minibuses you will notice that they are the same old ones which we are continuously maintaining, nobody is daring to import new minibuses because we fear that once we do that there is no returns that we can generate during the life span of the bus.Minibuses

"These days all you see are small Nissan Vanette minibuses popularly known as Bongos because they have no punitive excise duty on them. This is why we have written a letter of appeal for government consideration on the matter" said Kamange.

He added that they will be presenting the same grievances among others when finance minister will be conducting the 2014 - 2015 national budget consultations and that the MOAM family will also present the same grievances to parliamentarians lobbying for assistance through parliament.

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FedEx Acquires Supaswift Businesses in Southern Africa

Fedex Delivery DriverLilongwe, May 02, 2014 - FedEx Corp. (NYSE: FDX) announced today that its FedEx Express subsidiary acquired Supaswift businesses in Malawi and six other countries, which are Botswana, Mozambique, Namibia, South Africa, Swaziland and Zambia.

These acquisitions represent the latest step in the company’s strategy to grow its African network and service offering. FedEx Express now has direct access across the seven countries to 40 facilities and over 1,000 team members, who join the ranks of more than 300,000 FedEx team members globally. As of today, FedEx Express is offering a complete suite of export, import and domestic solutions across Southern Africa, connecting the region to more than 220 countries and territories worldwide, enhancing customers’ business flexibility and speed to market.

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western Union and Malawi Posts Corporation (MPC) collaborate to expand money transfer services network across Malawi

Customers can now receive money through Western UnionWestern Union

 

MALAWI – May 22, 2014 – The Western Union® Company (NYSE: WU), a leader in global payment services, and the Malawi Posts Corporation (MPC), provider of postal and financial services in Malawi, this week announced the signing of an agreement to provide - for the first time - Western Union money transfer services to customers across their 120 MPC network.

Standard Bank wins EMEA Finance Award for Best Restructured Deal

Standard Bank Malawi Chief Executive Andrew Mashanda

Updated: 16:58:48

Standard Bank Limited has won the EMEA Finance award for the structuring advice it rendered to Malawi’s grid-power supplier – Electricity Supply Corporation of Malawi (ESCOM) Limited – which enabled the utility supplier to repay ZAR 79 million (about K3 billion) it owed the Development Bank of South Africa (DBSA). 

Making the announcement Standard Bank Malawi Limited Chief Executive Andrew Mashanda said the transaction involved restructuring the ZAR 79 million DBSA loan which ESCOM owed. The DBSA loan was secured by a Zero Coupon Note issued by Investec in favour of ESCOM with a maturity value equal to the loan principal.

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