Malawi, Zambia, Mozambique commit to regional integration, cooperation
President Lazarus Chakwera signed three trilateral agreements with presidents of Mozambique and Zambia, Felipe Nyusi and Hakainde Hichilema, to boost regional integration and cooperation.
The three presidents signed an agreement on the Nacala Development Corridor at Nacala Port in Mozambique, where Nyusi inaugurated the rehabilitated and modernised version of the port. The agreement will allow the three countries to use the Nacala Port to ship their imports and exports to their respective countries.
Original article link: https://mwnation.com/malawi-zambia-mozambique-commit-to-regional-integration-cooperation/
New building at Hwange National Park aims to support tourism and conservation in Zimbabwe
The new complex is the first significant investment since ZimParks and IFAW extended their partnership to a 25-year, US$50 million conservation agreement. The investment, which has the endorsement and blessings of the Hwange traditional leaders and the Government of Zimbabwe, is part of the vision of the five countries (Zimbabwe, Zambia, Botswana, Namibia, and Angola) in the KAZA Transfrontier Conservation Area (TFCA) to transform the region into a world-class tourism destination through the provision of quality infrastructure and ancillary services.
Original article link: https://www.thezimbabwean.co/2023/10/new-building-at-hwange-national-park-aims-to-support-tourism-and-conservation-in-zimbabwe/
MSE simplifies SMEs entry on market
Malawi Stock Exchange (MSE) has simplified the Enterprise and Development Growth Exchange (EDGEx), formerly Alternative Capital Market, to ease access for long-term equity financing for small and medium enterprises (SMEs). MSE has modified the requirements for EDGEx, which means a business does not need to have a profit history to access equity finance through EDGEx
Orginal Article Link: https://mwnation.com/mse-simplifies-smes-entry-on-market%ef%bf%bc/
Malawi launches Agribusiness Deal Room
Stakeholders in Malawi’s agriculture sector, including government representatives and private players, on Wednesday August 3, 2022 gathered in the country’s capital, Lilongwe, to launch the Malawi Agribusiness Dealroom.
Organized by the Alliance for a Green Revolution in Africa (AGRA), in collaboration with the Ministry of Agriculture and the Malawi Investment and Trade Center, the Malawi Agribusiness Dealroom will provide a platform for players in the country’s agriculture sector to collate their business proposals for presentation at the AGRF Summit, which takes place in Kigali, Rwanda from September 6 – 9, 2022.
The launch was attended by Malawi’s agriculture minister, Honorable Lobin Lowe MP who was guest of honor, and H.E. Hailemariam Dessalegn, the former Prime Minister of Ethiopia and current Board Chair of the alliance for a Green Revolution in Africa (AGRA) and AGRF Partners Group.
Hon. Lowe, noted that despite the unprecedented challenges that Malawi’s agriculture sector is facing – including the Covid pandemic and climate change – there were numerous opportunities for investment in the country. He invited investors of all capacities to the sector, with the promise of adequate support from his ministry.
“My ministry is championing several policy reforms all meant to create a conducive environment for the business of agriculture. The ministry is also implementing the Affordable Inputs Program which will ensure that smallholder farmers access inputs to increase productivity,” he said.
The minister also presented the preliminary design of his government’s “Mega-Farms” concept, for which investment is now open. The project is an initiative of H.E. President Lazarus McCarthy Chakwera, who seeks to introduce mega farms across the country to lead the agricultural commercialization plans for making his country food secure.
Orginal Article Link: https://agra.org/news/malawi-launches-agribusiness-deal-room-with-a-call-for-bold-investments/
Malawi: Illovo registers K9.2bn profit
Illovo Sugar Malawi Plc has registered a K9.2 billion net profit after tax in the first half of 2022, representing a 51 percent profit increase.
This is according to the company’s Managing Director Lekani Katandula who announced the development on Friday July 15, 2022 when he made a presentation during the company’s investors forum which was held in Blantyre.
Katandula attributed the profit to an increase in sales volume which is now at 154,000 metric tons from last year’s 139,000 metric tons, representing a 12% increase while in the other hand, production volumes are now at 102,000 metric tons from last year’s 105,000, representing 3% decrease.
He further told the forum that this would have not been achieved without support from all the relevant stakeholders, the general public and most importantly a hardworking spirit among Illovo Sugar Company staffs members.
“I would like thank all our partners who have contributed to this good
news and most importantly our team which has been so dedicative and committed towards this achievement. We say thank you all,” said Katandula.
In his presentation, the Managing Director further said the company is so grateful to have registered a 77 % net debt decrease which is now at K5.1 billion from last year’s K22.4 billion, a thing he said is not taken for granted.
However, he indicated that the company would have made a more significant profit if the country was spared from Cyclone Ana in January, which devastated the Lower Shire where Illovo operates its Nchalo Estate.
Katandula said the cyclone impacted the business as its interruption estimate is at K8.2 billion with material damage at K7.1 billion.
Meanwhile, Katandula says Illovo Sugar Plcs is so much interested to start a self-generation of power and sell the surplus to ESCOM, saying that’s the company’s possible solution to the current power outages which he said has hit them hard.
Orginal Article Link: https://malawi24.com/2022/07/16/illovo-registers-k9-2bn-profit/
Malawi: A factory in Mzimba Turns Wood Waste into Cooking Briquettes
Malawi's Minister of Forestry and Natural Resources, Nancy Tembo, is inaugurating a new plant in the Mzimba district of Malawi. The facility built by Raiply Malawi converts wood waste into briquettes for domestic cooking.
The new facility was commissioned on August 20th, 2021, at a ceremony presided over by Malawi’s Minister of Forestry and Natural Resources, Nancy Tembo. The plant is capable of processing up to 60 metric tonnes of wood waste (sawdust) into briquettes for domestic cooking per day, creating 61 direct jobs.
Raiply Malawi implemented the project in Mzimba, a district in northern Malawi. The Lilongwe-based company received US$1 million from the Malawian government, or more than 814.2 million Malawian kwachas, for the entire project. According to Raiply Malawi, the Mzimba waste wood processing plant will help preserve the Chikangawa forest. Still known as the Viphya plantation, this forest is being rapidly depleted for various reasons, including deforestation for domestic cooking fuels. Several other parts of Malawi are experiencing the same problem.
Orginal Article Link: https://www.afrik21.africa/en/malawi-a-factory-in-mzimba-turns-wood-waste-into-cooking-briquettes/