Malawi’s Vice President Dr Saulos Klaus Chilima recently officially opened the Spar City shop which will be run by Peoples Trading Centre (PTC), a subsidiary of conglomerate Press Corporation Limited (PCL) which has just acquired the Spar franchise. Spar operates in 43 countries and has more than 12,300 shops across the 43 countries. Chilima congratulated […]
Simon Itaye, the Managing Director of Packaging Industries Malawi, Nampak Limited has replaced Clement Chilingulo as chairman of the conglomerate Press Corporation Limited. Itaye ascended to the chairmanship of Malawi Stock Exchange listed group on Friday during PCL’s annual general meeting held in Blantyre. Chilingulo has retired from the PCL board after 14 years of service, […]
In a more like case of children of the same father fighting to get recognition, telecommunication giant TNM has withdrawn from National Bank of Malawi (NBM) mobile phone platform after disagreements on charges. Both companies are subsidiaries of conglomerate Press Corporation Limited (PCL). NBM has been flighting radio adverts that starting at noon Tuesday, June 9, 2015, its […]
Telekom Networks Malawi (TNM), the country’s second-largest mobile telecoms operator, said on Wednesday it planned to acquire leading Internet service provider Burco to diversify its business. The new Universal License issued to TNM by Malawi Communications Regulatory Authority (MACRA) allows TNM to supply all possible telecommunication services to its customers. TNM, whose main rival is […]
Maldeco Fisheries says it is investigating the circumstances that led to the sinking of its multi million new vessel on Lake Malawi in Mangochi Monday night. The vessel, named The Fish Eagle, sank while docked at Maldeco’s water jurisdiction along the lake. “We can confirm that one of our fishing vessels, The Fish Eagle, capsized […]
While most Malawians are grappling with worse economic situations, others are not feeling the pinch with conglomerate Press Corporation boss Matthews Chikaonda pocketing a whooping K35 million in bonuses alone. Chikaonda, Chief Executive Officer for Press Corporation Limited (PCL), which has controlling shares in some of the big companies in the country namely National Bank, […]
Press Corporation Limited (PCL) has started closing down some supermarkets under the group arguing it cannot be borrowing money to pay for the subsidiary’s taxes. The development has left over 1,500 jobs at Metro and PTC supermarket shops as the group of companies has so far closed 16 shops. Over 300 people have been fired […]
The real impact from Malawi’s zero-deficit budget have now completely reared its ugly face as taxes meant to generate more local revenue have hit hard the private sector with major retailers scaling down operations. Press Corporation Limited (PCL) have reduced its workforce under subsidiary PTC and Peoples in rural areas while sources have said Shoprite […]