President Lazarus Chakwera on Saturday, 29th July, 2023 told the nation that the establishment and growth of Cooperatives in the country is very important in creating wealth and jobs for Malawian citizens leading to development of the country.
Speaking during the 29th International Day of Cooperatives celebrated at Civo Stadium in the capital Lilongwe, Chakwera said his government is so committed to support the economic transformation of the country through Cooperatives especially in the rural areas, adding that his focus remains to ensure that as Government there is conducive policy, legal and regulatory environment for the Cooperative Sector, thereby encouraging Malawians to be part of it.
“My hope is that you are part of each of a Cooperative for the development of Malawi. Imagine if every working adult, from the President down, was part of a Cooperative with other Malawians creating wealth and jobs together. It is that kind of seriousness that will turn things around for our country economically.
We need to transform from a country where only Government and Private Sector are doing things that impact the economy. We need to become a productive country where every able-bodied Malawian is part of some enterprise with other Malawians, and Cooperatives are the way to go” Said the President while urging Malawians to use the day as an opportunity to gain awareness of the potential roles that Cooperatives can play to positively transform the nation.
However, President Chakwera admitted challenges surrounding Cooperatives in the country, like access to reliable markets, but he was quick to commend Minister of Trade and Industry, Simplex Chithyola Banda for efforts that has led to agreements with Malawi Defence Force and other stakeholders to address the challenges, adding that Government is also working with neighbours in the SADC region to improve the situation regionally.
TNM Super League defending champions FCB Nyasa Big Bullets are back at the top of the log table following their 2-nil victory over Karonga United at Kamuzu Stadium on Saturday afternoon.
Hassan Kajoke scored the first goal for Bullets in the 32nd minute after receiving an assist from Patrick Mwaungulu.
Lanjesi Nkhoma doubled the lead for the home side in the 67th minute, connecting well a beautiful pass from Precious Sambani.
Bullets in action
The win mean that the People’s team have now accumulated 29 points with a game to wind up the first round.
On the other hand, Karonga United have finished the first round with 18 points and they are perched on position 8.
Elsewhere, Kamuzu Barracks ended Mighty Mukuru Wanderers’ 3-game winning streak as they beat the Lali-Lubani boys 1-0 at Kasungu Stadium courtesy of Olson Kanjira’s 73rd minute goal.
The Nomads have now dropped to fourth after finishing the first round with 28 points while KB are now 6th on the log table after accumulating 19 points.
In Karonga, Chitipa United’s excellent run of form continued as they beat Moyale Barracks 1-0 at Karonga Stadium.
Gedo Lorenzo scored the only goal of the match at the half-hour-mark after capitalizing on a communication breakdown between Moyale Barracks defenders.
Chitipa are now second on the log table, level on points with Bullets but the latter have a superior goal difference with a game to play.
In Lilongwe, bottom placed Extreme FC beat their fellow strugglers Red Lions 2-1 in a bottom of the table clash that took place at Nankhaka Stadium.
Frank Sanudi and Levison Gopani were on target for Extreme while Fergason Ntondo scored the consolation for the visitors.
Despite the win, the Mchinji-based side remain bottom with 9 points while Red Lions are third from the bottom with 14 points.
In another match played on Saturday, Blue Eagles and Mighty Tigers shared the spoils as they drew 0-0 at Mpira Stadium.
The battle for maximum points continues on Sunday as third placed Silver Strikers play 11th placed Civil Service United in a Lilongwe derby scheduled to take place at Bingu National Stadium.
In other matches, Dedza Dynamos will host Ekwendeni Hammers at Dedza Stadium as Bangwe All Stars welcomes Mafco FC at Mpira Stadium.
One of the country’s leading land selling companies, Innobuild Company Limited has offered 15×30 free plots of land to Malawi National Netball Team’The Queens ‘ player Joyce Mvula and coach Samuel Kanyenda following the impressive start at the historic 2023 Netball World Cup matches in Cape Town, South Africa.
Yesternight, the Queens bounced back in spectacular fashion to beat Scotland’s Thistles 55-49 at Capetown International Convention Centre.
Joyce Mvula
After the game, Joyce Mvula was named as Player of the match as she registered 100 percent shooting accuracy.
In an interview, Innobuild Company Limited Chief Executive Officer Billy Jonathan Chiwotha said they have decided to make the reward so as to encourage the Queens continue performing well.
Chiwotha added that, the company has also given K30, 000 to each and every player (both substitute and full time) who played the game.
“Its something impressive and this is part of encouraging them to continue working hard,” said Chiwotha.
The result means the Queens are second in group B following England’s win of 90-29 against the Barbados.
The Queens return to action to face favorites England from 06:00 pm.
For a long time Malawi has been singing a song of poor financing towards sustainable enhancing of small and medium enterprise which eventually graduates into bankable investments.
People with interest to focus on doing business have ended up being disappointed after moving from one bank to another with no tangible results.
It is against this background that Malawi President Dr Lazarus Chakwera has called upon financial institutions such as Banks to come out clear and support the industry.
The President made the call taking advantage of the commemoration of the International Day of Cooperatives at Civo Stadium in the Capital, Lilongwe, today.
Chakwera
The commemoration attracted a gathering of Cooperative Members, Government officials, members of the clergy, and the general public.
“Additionally, I call upon all government agencies, development partners, non-governmental organizations and all relevant stakeholders involved in cooperative development to double their efforts towards sustainable cooperative development.
“Access to finance is an especially vital element that cannot be ignored in any sector. The potential impact of cooperatives can only be optimally realized if the sector has access to finance and other investment opportunities. Access to finance allows cooperatives to move up the value-chains and engaged in value addition,” he said.
The President said his focus is to ensure that there is a conducive policy, legal and regulatory environment for the cooperative sector, and so “I direct the Minister of Trade and Industry to speedily conclude the policy reviews you are working on, because we cannot be running cooperatives on a policy framework that was developed in an era that no longer exists.”
“As you know, Minister, my Administration’s support to cooperatives goes beyond words, and I call on other stakeholders like banks and private sector companies and investors to do the same,” he said.
Chakwera said cooperatives are the bedrock of community empowerment and economic progress in Malawi.
He emphasized the pivotal role played by cooperatives in driving positive change and fostering inclusive growth for the nation.
The event, this year, is celebrated under the theme “Cooperatives for a Prosperous and Inclusive Malawi.”
The commemoration highlighted the remarkable contributions made by cooperatives in various sectors, such as agriculture, finance, and manufacturing, in empowering communities and uplifting livelihoods.
The International Day of Cooperatives is observed globally on the first Saturday of July each year. It was proclaimed by the United Nations General Assembly to raise awareness about cooperatives’ socio-economic impact and their role in achieving sustainable development goals.
This annual celebration aims to recognize and promote the cooperative movement’s significance in advancing economic and social progress, not only in Malawi but also around the world.
Cooperatives, with their democratic and community-driven principles, have been instrumental in transforming societies by fostering self-help, solidarity, and collective decision-making. They provide a platform for individuals to come together, pool resources, and address common challenges, ultimately creating a more equitable and resilient society.
Chakwera commended the dedication and hard work of Cooperative Members in contributing to the nation’s development. He expressed his government’s commitment to supporting and promoting cooperative initiatives that align with the country’s broader development agenda.
The President also urged stakeholders to explore innovative ways to strengthen cooperatives, enhance their efficiency, and expand their reach to even more marginalized communities.
The commemorative event included various cultural performances, inspiring speeches, and presentation of gifts to President Chakwera from Cooperative Members as a token of gratitude.
It provided an opportunity for attendees to network, exchange ideas, and reaffirm their commitment to building a prosperous and inclusive Malawi through cooperative efforts.
Press Corporation plc has on Friday declared a K36.3 billion profit after tax for the year 2022.
The company made the profit declaration during its Annual General Meeting (AGM) in the Malawi’s commercial city of Blantyre.
The company said, the profit is 19% lower compared to K45.1 billion recorded in 2021.
Board chairperson for the corporation, Randson Mwadiwa, attributed the company’s poor performance as a result of poor performance shown by some of its sister companies such as MTL and TNM.
Randson Mwadiwa on Centre
Mwadiwa disclosed that the company has secured land at Kamphata in Lilongwe for solar generated electricity project which will generate about 50 Megawatts once completed.
He said they are now working on compensations for the people who will be affected by the project and partnerships for the project works to start.
Press Corporation plc is a public listed company incorporated in Malawi, under the Companies Act 1984; and is quoted on the Malawi Stock Exchange (MSE) and listed as a global depository receipt on the London Stock Exchange(LSE).
Being the largest holding company in Malawi, Press Corporation plc has interests in different sectors of the Malawi economy including: financial services, telecommunications and energy.
The highly diversified company has stakes in thirteen companies comprising of eight subsidiaries, four joint ventures and one associate.
