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Illovo Sugar Malawi’s profit drops 50%, dividend payout slashed

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By Shaffie A Mtambo

Illovo Sugar Malawi, a leading sugar producer listed on the Malawi Stock Exchange, has reported a significant decline in its financial performance for 2024.

The company’s profit after tax plummeted by 50% to K23 billion, down from K56.7 billion in 2023.

The decline in profit has had a ripple effect on the company’s dividend payout, which has dropped to K5 per ordinary share for the period, a significant reduction from K25 per ordinary share in 2023.



This news is likely to disappoint investors who had grown accustomed to the company’s generous dividend payouts.

According to Interim Managing Director Kondwani Msimuko, the decline in profit can be attributed to natural disasters that resulted in the loss of thousands of tonnes of sugarcane.

Msimuko acknowledged investors’ concerns over the drop in dividends and assured them that the company is taking proactive steps to mitigate future risks and sustain profitability.

Despite the challenges faced by Illovo Sugar Malawi, the company remains committed to delivering value to its shareholders. Msimuko expressed his confidence in the company’s ability to bounce back from the current challenges and emerge stronger in the long run.

Real Madrid exposes Manchester City’s lack of belief,ageing team

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By Shaffie A Mtambo

Manchester City’s 3-2 defeat to Real Madrid in the Champions League has laid bare the team’s lack of belief and ageing squad.

Despite taking the lead twice, City were unable to hold on, succumbing to Real’s trademark late surge.

The defeat has raised questions about City’s ability to compete with the best teams in Europe.



Manager Pep Guardiola admitted that his team’s lack of stability and composure had cost them dearly.

“We are not stable enough. I have been here for many years, and we’ve been an extraordinary team, a machine every three days.

“This year, I accept when the opponent is better, but at the moment, I am not good enough to give composure to the team to manage these situations”,said Guardiola

The defeat has also highlighted the need for City to refresh their squad.

With players like Kevin de Bruyne and Bernardo Silva approaching the twilight of their careers, City need to bring in younger talent to inject new energy into the team.

Real Madrid, on the other hand, demonstrated their ruthless efficiency, scoring two late goals to turn the game around.

The Spanish giants have a reputation for being able to win games in the dying minutes, and they lived up to that reputation at the Etihad Stadium.

The defeat leaves City facing an uphill task to turn the tie around in the second leg at the Bernabeu.

However, Guardiola remains optimistic, saying that his team can still win the tie if they can find the right balance and composure.

BEFIT programme set to revolutionize learning outcomes in Malawi

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By Shaffie A Mtambo

Gwengere Primary School in Dedza is an experience improvement in learning outcomes, thanks to the introduction of the Building Education Foundation Through Innovation and Technology (BEFIT) programme.

Headteacher Sandram Nachiola expressed  that the tablet-based learning initiative would contribute to an educated community.

He added that the programme would help learners acquire strong foundational skills in literacy and numeracy.



The BEFIT programme is designed to reduce learning poverty in Malawi, and Gwengere Primary School is among the beneficiaries.

Nachiola acknowledged that the programme would make learning more engaging and interactive. He anticipated that the use of tablets would reduce absenteeism and dropout rates.

Nachiola has also emphasized the importance of teacher training in ensuring the success of the BEFIT programme. He applauded the Ministry of Basic and Secondary Education for training all teachers at the school.

The Ministry of Education has embarked on an ambitious plan to roll out the BEFIT programme to all 6000 public schools in Malawi by 2029.

Meanwhile Education Public Relations Officer Mphatso Nkuonera,says the government’s commitment to reducing learning poverty.

President Chakwera honors Late Saulos Chilima, calls for dedication in Ntcheu’s Development

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By Burnett Munthali

President Lazarus Chakwera has paid tribute to the late Vice President Dr. Saulos Chilima, describing him as a hardworking leader who was deeply committed to the development of Ntcheu and Malawi as a whole. Speaking ahead of his detailed report on the government’s development projects in Ntcheu, Chakwera emphasized Chilima’s dedication, resilience, and passion for progress.

The president acknowledged that Chilima, who tragically lost his life in a plane crash, played a crucial role in shaping Malawi’s governance. He highlighted the late vice president’s work ethic and love for his home district, saying that his contributions should serve as an inspiration to all leaders, particularly members of Parliament. Chakwera urged MPs and government officials to learn from Chilima’s unwavering commitment and to channel that same level of dedication into their responsibilities.

Chakwera



Following his tribute, Chakwera shifted focus to the various development initiatives his administration has implemented in Ntcheu. He outlined the government’s efforts to improve infrastructure, health services, and economic opportunities in the district. Roads have been upgraded to facilitate easier transportation, and investments have been made in education and healthcare to enhance service delivery for the people of Ntcheu.

Chakwera reiterated that for meaningful development to take place, leaders must demonstrate hard work and integrity, just as Chilima did during his tenure. He encouraged all stakeholders to remain focused on the country’s progress rather than engaging in political distractions.

The president’s speech not only honored the late vice president’s legacy but also served as a call to action for national leaders to work with determination in driving development forward. As his address continued, Malawians awaited further details on how the government plans to sustain and expand progress in Ntcheu and beyond.

Chakwera touts development projects in Phalombe

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By Twink Jones Gadama

President Dr. Lazarus McCarthy Chakwera has highlighted his administration’s development projects in Phalombe, citing significant investments in food support, education, healthcare, and economic empowerment.

According to Chakwera, his administration has spent K4.7 billion on food support in Phalombe, benefiting over 11,000 households through the social cash transfer program over the past four years.

Additionally, more than 2,800 people have accessed loans worth over K2 billion through the National Economic Empowerment Fund (NEEF).

Chakwera delivering the Sona



Chakwera also emphasized his government’s infrastructure development projects in Phalombe, including the construction of 29 houses for security personnel, four new schools, and the full operationalization of Chilembwe Hospital.

These projects, he noted, demonstrate his administration’s commitment to improving the lives of Phalombe residents.

The President urged the 170,000 registered voters of Phalombe not to be misled by politicians who cannot advance the district’s development.

He emphasized that his administration’s development projects are tangible evidence of its commitment to the district’s growth and prosperity.

Chakwera’s remarks come as the country prepares for September tripartite elections, with Phalombe being a critical district in terms of voter numbers.

The President’s emphasis on development projects in Phalombe is seen as a strategic move to woo voters and demonstrate his administration’s achievements.