Malawi Communications Regulatory Authority (MACRA) has threatened to shut down Access Communication and AFRIMAX if they fail to pay their licence fees within a specified period.
The warning comes when MACRA has already revoked operating licences for Maziko Radio Station which had a balance of over 19 million kwacha and Skynet with over 13 million kwacha in unpaid fees.
According to Daudi Sulemani, Director General for MACRA, Access Communication risks closure for owing it over 600 million kwacha while AFRIMAX is struggling to settle a bill of about 196 million Kwacha.
Suleman
“We have also revoked License belonging to VB Courier Services for fees in balance mounting to over 13 million kwacha, and this we are doing in accordance to regulations Act,” says Sulemani.
While recommending all institutions that are adhering to the Act,he pleads with the aforementioned entities to settle their arrears.
Previously, MACRA closed Ufulu FM, Joy Radio and Television, Galaxy FM and Rainbow Television, among others, for failing to pay the annual licence fees.
The Malawi Stock Exchange listed NBS Bank scooped three awards at this year’s Marketer’s Excellence Awards held on Saturday in Mangochi.
The awards, which are meant to recognize the effort by marketers as a way of encouraging quality and professionalism, saw NBS Bank plc being named the Best Customer Service, Outstanding SME initiative, and Commercial of the year- Print.
Reacting to the development, the Bank’s Head of Marketing and Customer Experience, Tamanda Ng’ombe said the awards compliments their growth efforts as outlined in the new strategic plan.
IMM Conference in Mangochi
“At NBS Bank, we strive to ensure we provide services that are easily accessed by our customers. Over the years we have worked on improving our digital services including our EazyMobile services to ensure customers access our services at their fingertip in the comfort of their homes.”
“Through mobile services, customers are able to access loans within minutes without visiting the Bank. We are now offering rewards to customers who use our digital banking services. Therefore, this recognition from the IMM has come as an affirmation of the efforts made by the Bank. We thank our customers for their trust in the brand and our staff for their dedication which has led to the recognition.”
“These awards will help us to push for more improved services. We will not relax,” said Ng’ombe.
Chief judge at the event, Enwell Kadango commended the winners saying this year the submissions improved greatly.
In the Best Customer Service category, NBS Bank was competing with TNM, and Sunbird Hotels and Resorts, while on Outstanding SME Initiative of the year, the Bank had no competitor.
The Red Brigade, as fondly called, outclassed TNM and Victoria Forex Bureau in the Commercial of the year- Print category.
Malawi forex levels are expected to improve following the opening of DX Capital Bureau DE Change a forex Bureau company in at Golden Peacock Complex in City Centre.
Speaking during the event marking the opening of the company few days ago, Company Group Chief Executive Officer Mr Geoffrey Makhalipi said his company is much committed to adhere to the set down rules and compliment Government efforts in ending forex shortages.
He said “The Bureau will serve an important function in the society and global economy by providing formal forex trading solutions to businesses. Help Government find ways of making foreign exchange currency available, hence helping to increase its foreign reserves for the development of the country,” Said the CEO.
Mayor Richard Banda opening the bureau
He said through providing competitive rates, the bureau will be receiving international incoming remittances.
“The Bureau has Foreign Currency Deposit (FCD) Account with Standard Bank which our prospective diaspora clients would use to send home money to their families and loved ones, hence, aligning with government’s appeal to those in diaspora, ” he said.
He said the Bureau will allow currency conversion for international trade.
“Let me take this opportunity to request RBM to take a look at digital currency and Forex Markets which could be one of the solutions to foreign currency challenges; of which I believe the regulatory body is already working on. Our financial policy should be designed to accommodate new digital forex trading innovations and developments in order to reduce the gaps in our forex trading market, ” he said.
He said his company has direct contact with global regulated financial service providers, with new forex trading innovations whom would be willing to partner with regulatory body, Reserve Bank, to find ways of easing the forex pressure.
“We export less and that calls for other alternatives in order to generate the needed reserves,” he added.
He further said that this would be in line with one of His Excellency, President of Malawi, Dr. Lazarus Chakwera’s Speeches which he emphasized the need of Digital and Green economy of tomorrow, in order to transform Malawi economy.
“We believe that the bureau will also be crucial in promoting tourism activities in Malawi and make tourists experience the warm heart of Africa, Our Pride. This is fifth generation of revenue where digital wise is the new dimension, ” he said.
In his speech Guest of Honour at the event, Reserve Bank of Malawi Policy and Compliance Manager (Foreign Flows Monitoring Department), Mr. Ken Khoswe, commended the initiative, saying it will have a positive impact on the Malawi economy.
“On behalf of the Reserve Bank of Malawi Governor, I stand before you to witness another milestone in the foreign exchange market through the entry of DX Capital Bureau De Change, ” he said.
Khoswe said the establishment of the Bureau marks a significant step in the Reserve Bank commitment to ensuring a robust and vibrant foreign exchange market by providing an alternative to the public in the buying and selling of foreign exchange in the country.
He said RBM expects that DX Capital Bureau De Change will help to make the operation of the foreign exchange market efficient and effective in the provision of services to the public through provision of competitive foreign exchange rates.
He said the entry of DX Bureau De Change takes the number of registered forex bureau to 23 across the country.
“This is a positive development to the Bank and the country in the sense that Malawians and travelers have a wider choice for their foreign exchange transactions, ” he said.
To date, the forex bureau scheme has registered tremendous growth in terms of geographical distribution as well as turnover of foreign exchange traded.
Khoswe has since appealed to the newly opened Bureau to adhere to the rules.
“The Bank also expects the bureau to take all necessary steps to prevent and curb the commission of financial crimes by developing robust controls and systems, ” he said.
Lilongwe City Mayor Councilor Richard Banda has since endorsed and welcomed the opening of the Bureau saying this development will benefit people from his City.
He said the bureau will create employment and contribute to national economy.
Newly established company is already licensed by the RBM and is Located at Golden Peacock Shopping Centre, Lilongwe: Shop Number A16.
Two Jamaican artists, Luciano and Everton Blender who performed at the Reggae Jam Musical Festival in Lilongwe, have on Monday donated K1million towards the construction of Kawale Nyahbinghi Tabernacle.
Luciano, popularly known as Jah Messenger, said in an interview with 247 Malawi News that they did not get paid for their performance on Saturday as a gesture of showing love and care for the Rasta community.
Luciano and Everton Blender with Malawian Rastas
He since then promised to source more money and other resources from people in the diaspora.
“We pledge our commitment to provide finances for the completion of the project,” Luciano said.
On his part, Everton Blender urged the Rastafalian community to preach peace and love.
“Jah people we need peace and let me tell you, you need more charity works.Do not just smoke Marijuana and dreadlocks, that is not being a Rasta,” Blender said.
Rasta Fred Mwanamanga, who is one of the Priests at the tabernacle, thanked the two Jamaican musicians for the kind gesture.
