LATEST NEWS



Meet a Malawian temperature monitoring system at the MITF

Meet #AlinafeKaliwo #Polytechnic lecturer in the Department of Electrical Engineering, who developed #TempCras, a system that monitors readings of temperature in cold-rooms, refrigeration systems and in transit refrigerating vehicles. Link with him at the #31stMalawiInternatioalTradeFair from June 20-30. Download the application form here.

 

 

Ministry committed to reduce constraints to doing business

Director of Administration and Finance in the Ministry of Industry Trade and Tourism Dr Joseph Mkandawire last week opened the first ever SME Expo with an assurance that the ministry is committed to ensuring that businesses operate in an environment with minimal constraints to doing business.

He said one of the commitments is the finalization of the new Micro Small and Medium Enterprises (MSME) Policy and plans to establish a credit facility.

In his remarks MCCCI President, Prince Kapondamgaga said, despite the SME sector been acknowledged worldwide as an economic powerbase that stimulates economic growth, in Malawi the sector has not been accorded the attention it requires hence the introduction of the SME Expo.

During the Expo, African Institute of Corporate Citizenship was awarded Best SME Promoter, while the Best Innovative SME went to Malasha Briquettes while Tehilah Bakery won Best Overall SME.

SME Expo 2019

Ever wanted to own a Service Station?


Ever wanted to own a Service Station?

Then attend this information session at the SME Expo.

The Malawi Energy Regulatory Authority MERA will hold an Information Session at the SME Expo on Friday 26th April, 2019 at Comesa Hall VIP lounge from 3:00 pm to 4:00 pm.

The information session seeks to inform and increase potential investors awareness of the role and mandate with focus on promoting investment in rural service stations.

125th Annual General Meeting of the MCCCI

Today members of the Malawi Confederation of Chambers of Commerce and Industry held an Annual General Meeting in Blantyre, where members were re-assured that the confederation will forever aspire to empower members, as well as inspire transformation of all those it serves for the better and true to its tagline, The Voice of the Private Sector.

In his 2018 report, MCCCI President Prince Kapondamgaga said in the year gone by, MCCCI had almost single handedly prevented a 60 percent major tariff hike by ESCOM to 31.8, which could have escalated electricity tariffs by 33 percent.

He said: “We regard it an illusion when Government pronounces that it is committed to industrial development of this country, whilst industrial companies continue to be heavily penalised for choosing to invest in this country through exaggerated tariff rates that subsidise non-developmental consumers”

Turning to membership, he said MCCCI would like to see a more inclusive membership through the introduction of a new category called Star to cater for the needs of micro and small scale enterprises and cooperatives.

Public Private Sector Development Forum established

TEVETA, has established a Forum for Dialogue with private sector coordination organisations of MCCCI and ECAM called Public Private Sector Skills Development Forum.

MCCCI signed a Memorandum of Understanding with TEVETA last week. The forum will be a platform for systematic and formal interface, dialogue and consultation through periodic meetings among the private sector.

The forum will provide an interface and bring together a wide range of experts/representatives from the private sector and TEVET institutions to share information on skills development, fill the information gap between private sector, TEVET Authority and other public and private stakeholders.

The outcomes for the forum are to create a regular dialogue between public and private sector and supporting a private sector oriented skills development, working relationships between private public companies. The forum will also see improvements of TPIs and TEVETA and support a more active participation in the organization, arrangement of the TEVET Authority and engagement of the private sector for qualitative vocational training.

 

MCCCI introduces SME Expo

In line with promoting small businesses which are the economic drivers in many economies, The Malawi Confederation of Chambers of Commerce and Industry is introducing the SME Expo 2019. The trade event will be held from the 26th to the 28th April 2019 under the theme SME Growth through Business Linkages.

 

The SME Expo is set to attract all – sector local and regional businesses, including SMEs, Corporates, financial service providers, business advisory service providers, business information providers, academic institutions and other institutions provide business development services.

 

The event intends to bring a diverse spectrum of businesses as it brings solutions to the numerous challenges that SMEs face. The solutions are meant to bring about transformation of the #SMEbusinesses, hence “enhancing Growth”.

MCCCI thus calls the entire business community to take part in this first ever SME Expo. For more details, please contact, Linda Pete on 0999 361 132 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

 

Save the DATE! Farmers Market

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.

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