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Ever wanted to own a bank?

The Reserve Bank of Malawi (RBM) is undergoing a process of developing a framework for the introduction of Community Banks serving a specific geographical location.

Through community banks, the RBM aims to create economic empowerment to local entrepreneurs/investors as well as easier access to banking services for members in a specific community.

 Some of the proposed regulatory insights include an application fee of MK1.0 million and capital requirement of MK500M to MK1.0 billion. Restriction on deposit mobilization and lending to specific location to serve intended policy objective.

 RBM said only incorporated entities/companies will be licensed as community banks with risk management policies similar to banks but relaxed in terms of threshholds/quantum.

The regulations demand normal MIS systems to be mandatory with almost all products/services offered by main stream commercial banks except investment banking, security brokerage and a few others.

 Proposed depositor protection include requirement to hold minimum liquidity ratio, debt financing not allowed as startup capital, caps on lending ratio subject to liquidity management practices and timely recognition and provisioning on bad debts.

 

"Africa continent of the future"

Ghana’s Vice President Dr Muhamudu Bawumia says India and Africa should aspire for economic freedom.

He said this when he addressed the 14th CII-Exim bank Conclave on India Africa Project Partnership.

He said the India-Africa Partnership can create a new paradigm for South South cooperation adding that Africa is the continent of the future.

In his keynote address, India’s Minster of Commerce and Industry Suresh Prabhu said India and Africa has the same problems and need to fight together.

He said in the partnership, India does not want to benefit at the expense of Africa but would like to help Africa using specific country profile of priority areas.

Confederation of Indian Industry (CII) has organized the 14th edition of CII-EXIM Bank Conclave on India - Africa Project Partnership, from 17 – 19 March 2019 in New Delhi, India.

 

Over the last 13 editions, the conclave has proven to be a one stop shop that caters to the interests of both business and political stakeholders, alike.

Want to attend a trade show in USA?

The Southern Africa Trade and Investment Hub will support export-ready specialty food ingredients firms from Southern Africa to exhibit at the Institute of Foods Technologists (IFT19) Show to take place from 2- 5 June, 2019 in, New Orleans, USA.

IFT is an Annual Event and Food Expo that showcases talent and creativity in the science of food.

The Hub is therefore inviting specialty food ingredients firms (e.g. spices, baobab, moringa, specialty teas, honey, etc) to exhibit under the Hub-sponsored Africa Fine Foods Pavilion.

 The firms should be interested in exporting to the U.S. The Hub support will cover:

  • exhibition space,
  • pavilion build-up,
  • pavilion and booth branding,
  • marketing: email blasts to buyers, exhibition booklet, and
  • marketing linkages support.

Exhibitors are expected to cover the following costs:

  • airfare,
  • accommodation and,
  • samples freight costs.

If interested, kindly complete a form on https://www.iftevent.org/register/why-ift19.

 

Leadership and Management Training

MCCCI has organised leadership and management trainings in Blantyre on the 7 and 8 March 2019 and in Mzuzu on 14 March 2019.

Why should you attend?

Because the level of success an organization enjoys, hugely depends on the organizational leadership and its management style. Building effective leadership and managerial skills is critical to help you and your organization succeed. Organization attitude and behavior, work environment, conflict management, organizational structure, power and politics, culture and many other organizational aspects are all affected by the actions of leadership and management. This course looks at leadership from that perspective, and provides participants with an opportunity to gain a solid understanding of leadership and management in order for them to establish the right style of leadership to add immediate value to the organization and their staff.

Who should attend?

Designed for business leaders, the course, will equip participants with skills in: organizational behavior and leadership, leadership and managerial skills necessary for increasing organizational productivity, leadership and management styles from the context of teams, conflicts and decision making, the importance of leadership/management and its impact on organizational culture, managing groups and teams, Managing change, Motivation, Results orientation, Influencing other Conflict management.

Please confirm your attendance by contacting Linda on 0999 361132, or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it and Innocent Nyirenda 0997991169 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Scaling Up Nutrition Business Network to be launched

Scaling Up Nutrition Business Network (SBN) a global movement under Scaling Up Nutrition (SUN) will be launched in Malawi on 20 February, 2019 in Blantyre in an effort to improve nutrition.

Addressing members of the press in Blantyre last week, Chairperson for SBN, Sunbird Hotels represented by Oswald Bwemba said, SBN is dedicated to reduce malnutrition from 35% to 32% in all its forms by 2025 - through engaging and supporting businesses to act, invest and innovate in responsible and sustainable actions and operations.

“It is the understanding of SBN that businesses thrive when they operate in healthy environments and that business and nutrition is a win-win deal. As such, both micro and macro businesses are being mobilized to join the fight against malnutrition,” he said.

SBN intends to mobilize businesses to contribute towards the reduction of malnutrition; to make good nutrition more aspirational, accessible, affordable and available for the consumer.

“We are calling upon businesses to join and get engaged to drive scaling up nutrition so that we can end malnutrition in Malawi. Membership to SBN is free of charge and open to all businesses in all sectors, he said.

SBN is being championed by Malawi Confederation of Chambers of Commerce and Industry (MCCCI) and Ministry of Industry Trade & Tourism, the Department of Nutrition, HIV & AIDS (DNHA) with support from World Food Program (WFP) and Civil Society Organizational Nutrition Alliance (CSONA).

COMESA to host SOURCE21 International Trade Fair

COMESA will host the SOURCE21 International Trade Fair and High level Business Summit from the 17-21, July 20COMESA will host the SOURCE21 International Trade Fair and High level Business Summit from the 17-21, July 2019 in Nairobi Kenya under the theme “Hallmark of Quality

The objective of the fair is to increase intra-regional trade and promote business development through partnerships, collaboration and buyer-seller initiatives in both the manufacturing and services sector in COMESA.

 According to COMESA there will be a High level International Business Dialogue  as a side event which will focus on engaging interested customers,  investors and businesses on gap constraints in some of the key sectors in the region, that present opportunities for investment and profitability.

 The dialogue will take place on the 17th and 18th of July 2019.

 The dialogue will engage on investment projects presented and encourage business promotion in line with clinching possible partnerships with stakeholders present.

 Industry positions from the various sectors will also be drawn during the dialogue. The business forum will create a platform for sharing opportunities for business linkages with possibilities establishing these business partnerships.

 For more log on to: http://comesabusinesscouncil.org/source21

 

 

 

RBM cuts policy rate to 14.5

The Reserve Bank of Malawi (RBM) has reduced the policy rate from 16 to 14.5 percent and has also set commercial banks base lending rate at 14.9 percent.

Policy rate is a determinant of calculating base lending rate by commercial banks.

The development is expected to make credit available and cheaper to borrowers.

With this development, Commercial banks are expected to price their loans around 19 to just above 20 percent depending on customers risk profile.

Reacting to the development, MCCCI Chief Executive Chancellor Kaferapanjira said the private sector is hopeful that the cuts would be passed on to borrowers and that in the medium-term translate into increased lending to the real sector for productive purposes for the benefit of all economic participants in the economy, consumers and producers.

“We, thus, expect commercial banks to respond immediately to these measures in order to benefit the real sector.

Small businesses hail Farmers Market

Small businesses have hailed the first ever Farmers Market organized by MCCCI saying it’s a step in the right direction to provide the much needed visibility especially to small businesses. James Manda of James Crafts Works, noted that the city of Blantyre did not have a market that uses the Famers Market concept.

Manda said: “I encourage MCCCI to keep its word to hold these markets every month. It shouldn’t be just a one off thing,”

Farmers market, this Saturday

It's almost here, your farmers market place, this Saturday, come one! Come all!

MCCCI Invites Blantyre Residents to First Ever Farmer's Market

MCCCI would like to invite you to our very first Farmer's Market to be held on 26th January 2019 at the Chichiri Trade Fair Grounds from 8AM to 5PM. Forget your usual weekend markets, Let's help you cross off your shopping list with this shopping experience.

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