LATEST NEWS



HIGHLIGHTS FROM THE STATE OF NATION ADDRESS, MAY 2018

HIGHLIGHTS FROM THE STATE OF NATION ADDRESS, MAY 2018

Procurement flaws costing businesses

The Malawi Confederation of Chambers of Commerce and Industry (MCCCI) says businesses are still hopeful of improved public procurement management systems despite many of them losing business opportunities to lack of transparency in the procurement process. MCCCI director of membership development and service delivery Stella Ng’oma said this during a business outreach workshop organised by the World Bank in Blantyre. She observed that public procurement is one of the most serious and common grounds for corruption and fraud in the country. Ng’oma said the promotion of exchange gratification to secure procurement contract is the main cause of fiscal drain which undermines implementation of key activities that can help resolve business challenges and build a better private sector to drive the economy in the country. She said: “Some of the businesses have even failed to raise issues simply because of being afraid of the reprisals or being blacklisted and, therefore, suffering in silence. Even those that have ever appealed against the procurement decision, procurement process would proceed and awards made. This does not help those who appeal because they shall have lost the business and companies see no incentive to make future appeals.” The concerns follow an assessment of public procurement system in Malawi carried out from February 24 2018 to seek feedback from the private sector by the Public Procurement and Disposal of Assets Authority (PPDA) with support from the World Bank. According to the assessment findings, which had 150 respondents from the business community, 82 percent of the respondents consider that there are inadequate opportunities for qualified companies to compete fairly for contracts with 73 percent of the respondents feeling that the complaints review system is not trustworthy and consistent with findings of the case. A 2014 research by the Centre for Social Research also found that 20 percent of all procurement contracts with government involve gratification where 11 percent of the cost of the contract is paid to secure it while at the same time demanding businesses to forfeit 10 percent of the value of invoices to be paid. In Malawi, public procurement is regulated by an Act of Parliament, Public Procurement Act 2003, which has now been replaced by the Public Procurement and Disposal Act 2017.

Applications for Trade Fair participation closes today

Today the 11th May is the last day to receive applications for businesses wishing to participate in this year's Malawi International Trade Fair.

Applications for Trade Fair participation closes today

Today the 11th May is the last day to receive applications for businesses wishing to participate in this year's Malawi International Trade Fair.

Malawi International Trade Fair 24th May - 3 rd June, 2018.

Trade Fair offers your business a convenient and conducive space to market your products and services and enhance brand and product visibility that will generate leads to drive incremental sales. It offers answers about the win-win networking opportunities for your business from prospective business partners both on the local and international front. If you are introducing a new product, the Trade fair is an amazing opportunity to introduce new products and services and immediately initiate contacts with new local and International customers Gates Open from 8:00am – 05:00 pm each day. Key Dates: 24th May - Official opening day 25th - 26th May - Public days 29th - 31st May - Business seminars 1 st - 3 rd June - Public days.

Malawi International Trade Fair 24 May -3rd June “ Industrialisation: Basis for Trade Competitiveness”

The theme has been considered to reflect the need for the Malawi economy to produce and trade in goods with value addition, a scenario that is possible through Industrialisation. This year’s theme thus focuses on the need to adopt a more export –oriented industrialization as basis for achieving trade competitiveness. It calls for trade and economic policies that speed up the industrialization process to propel exportation of high value processed goods. Industrialisation is therefore fundamental to attain trade competitiveness for the Malawi economy.

Trade Fair: An opportunity to market products

The 30th Malawi International Trade Fair that will be held from May 24 to June 3 will bring together exhibitors from the continents of Africa, Asia, America and Europe. Hence giving exhibitors an opportunity to market their products and services and enhance brand and product visibility to generate leads for increased sales. Deadline for registration is 11 May. Call 01871988/813 01 759 912

AFCFTA new dawn to African economies

The Minister of Trade, Industry and Tourism Honorable Henry Mussa said the creation of the African Union Continental Free Trade Area (AFCFTA) would increase intra-African trade resulting in an increase of African manufacturing exports within Africa and beyond. During a sensitization seminar with the private sector, the Minister said the AFCTA is expected to bring together 55 African countries with a combined population of more than 1.2 billion people. AFCFTA is a free trade arrangement established among African countries to conduct trade among themselves without charging each other customs duties. He said there will be better harmonization and coordination of trade liberalization, facilitation and instruments across regional economic communities and Africa. He said: “A fully implemented AFCTA will create opportunity to establish regional and global value chains and promote industrial development. The AFCTA market will make it easier and cost effective to trade inter-continentally and attract FDI for natural and regional infrastructure projects,” He added that the private sector in Malawi stands to benefit from financial support to be provided by Afrexim Bank through the existing local banks to leverage their potential. He called on the private sector to take the agreement positively by being proactive in seizing opportunities that it will avail. The ministry will intensify sensitization and consultations meetings in building a national position on the issue.undefined

Sensitization seminar for the African Continental Free Trade Area Agreement

The Ministry of Industry, Trade and Tourism will on Friday, 27 April 2018 hold a sensitization seminar with the Private Sector (particularly exporters and manufacturers), civil society and the academia to share information about the African Union Continental Free Trade Area (AfCFTA). The seminar will be held at the Malawi Confederation of Chambers of Commerce and Industry, Chichiri Conference Centre Hall, VIP Lounge from 10:00 Hours. The Minister of Industry, Trade and Tourism will preside over the seminar. Malawi alongside other 43 countries signed the agreement establishing the African Union Continental Free Trade Area in 2018 in Kigali Rwanda The Free Trade Area will see the creation of a Pan African Market that would increase intra-African trade resulting in an increase of African manufacturing exports.

More Articles...

Page 5 of 6

<< Start < Prev 1 2 3 4 5 6 Next > End >>