Month: April 2022 Posts

Mpinganjira ordered to dispose FDH shares

Apr 25, 2022 Malawi24 Reporter 0 &

Reserve Bank of Malawi (RBM) has ordered attempted bribery convict Thom Mpinganjira to dispose his shares in FDH bank. However, Mpinganjira who is represented by lawyers Khumbo Soko and Hilda Soko, has obtained a stay… ...

MyBucks declared bankrupt

Apr 14, 2022 Mwayi Mkandawire 1 &

The tax authorities in Luxembourg have placed in bankruptcy MyBucks, the mother institution of MyBucks Malawi, a commercial bank. Afristrat which owns the company announced in February that the company had been placed under liquidation… ...

FUM commends National Bank for engaging farmers on financial inclusion

Apr 14, 2022 Mike Kalumbi 0 &

Farmers Union of Malawi (FUM) has commended National Bank of Malawi for engaging farmers from rural areas on financial inclusion, saying this is very good because many farmers have been going through challenges in accessing… ...

Standard Bank makes K24.8bn profit

Mar 15, 2022 Malawi24 Reporter 0 &

Standard Bank Malawi has announced an after-tax profit of K24.8 billion for the year 2021, a four percent increase over the K23.7 billion profit made in 2020. Results released by the bank indicate that total… ...

Armed robbers steal over K109 million from FDH bank

Feb 26, 2022 Malawi24 Reporter 0 &

Two robbers armed with a pistol entered into FDH Bank Mzimba branch this morning and went away with K109 million. The criminals threatened workers with the pistol to open the cash chest. Northern Region Police… ...

Financial sector urged to help fight child labour

Feb 25, 2022 Archangel Nzangaya 0 &

Employers Consultative Association of Malawi (ECAM) has urged the country's financial service providers to join the fight against child labour. The call was made in the commercial city of Blantyre on Thursday February 22 during… ...

Malawi, African Development Fund signs K11.7 billion grant agreement

Feb 13, 2022 Malawi24 Reporter 0 &

The African Development Fund (ADF) and the Government of Malawi have signed a $14.2 million (K11.7 billion) grant agreement for Malawi to undertake infrastructure upgrades and create a more efficient and transparent digital payment system.… ...

First Capital Bank bails out 335 MUBAS students

Jan 21, 2022 Archangel Nzangaya 0 &

First Capital Bank has come to the rescue of 335 Malawi University of Business and Applied Sciences (MUBAS) students who were on the verge of withdrawing on financial grounds. The bank has donated a whooping… ...

Jaco Viljoen appointed FMBcapital Holdings managing director

Dec 15, 2021 Mwayi Mkandawire 0 &

The Board of Directors at FMBcapital Holdings (FMBCH) has announced the appointment of Mr. Jaco Viljoen as Group Managing Director for FMBcapital Holdings (FMBCH). According to a statement dated 15 December and signed by Group… ...

Unvaccinated employees at First Capital Bank to miss out on bonuses

Dec 02, 2021 Malawi24 Reporter 0 &

One of the banks in Malawi, First Capital Bank, has said it will only give Christmas and performance bonuses to employees who are vaccinated. The bank’s chief executive officer Jaco Viljoen has announced the decision… ...

Malawi Parliament passes motion on interest rate capping

Nov 11, 2021 Mwayi Mkandawire 0 &

Malawi Parliament has passed a motion allowing the tabling of a bill which seeks to amend the Financial Services Act to include interest rate capping. Member of Parliament for Dowa West Abel Kayembe moved the… ...

Chilima tells banks to cut interest rates

Nov 11, 2021 Malawi24 Reporter 1 &

Vice President Saulos Chilima has demanded banks in Malawi to reduce interests, saying Reserve Bank of Malawi will issue a directive on the issue if commercial banks do not reduce the rates voluntarily. Chilima made… ...

Muneneze mabanki omwe akukudulani ndalama – Mlusu

Nov 03, 2021 Archangel Nzangaya 0 &

Boma kudzera kwa nduna ya zachuma a Felix Mlusu lati anthu omwe akudulidwa ndalama zawo ku mabanki mu dzina la VAT, akanene ku banki ya Reserve kuti ndalama zawo zonse zibwezedwe. A Mlusu amayankhula izi… ...

Kapito says people’s money being ‘stolen’ in banks in form of high fees

Nov 01, 2021 Martha Chikoti 0 &

Consumers Association of Malawi (CAMA) Executive Director John Kapito says money is being stolen in form of high bank service charges and this will discourage Malawians from opening bank accounts. Kapito said this in a… ...

Banks, MRA under fire over new VAT law

Oct 29, 2021 Malawi24 Reporter 0 &

Banks in Malawi and the Malawi Revenue Authority (MRA) have come under fire for failing to explain clearly the services to which the new value-added tax (VAT) will apply. Malawians have argued that both the… ...