Showing posts with label Financial. Show all posts
Showing posts with label Financial. Show all posts

Tuesday, 1 December 2015

National Assembly Passes Loan Bill For International Airport Upgrade


National Assembly on monday authorizes government to borrow K14 billion funds from European Investment Bank for the purpose of upgrading Chileka and Kamuzu International Airports to meet international standards on safety and security.

The House passed the bill after contributing and adopting the report on the bill from the Parliamentary Committee of Transport and Public Infrastructure.

The money from the European Investment Bank Loan Authorization Bill is to be used for the Project of upgrade of Aviation Safety and Security Equipment at Kamuzu and Chileka International Airports.

The bill passed with several amendments to the memorandum of the bill as proposed by the Parliamentary Committee of Transport and Public Infrastructure after scrutiny of the bill.


The amendments includes change of the title of the bill to read phase 1, change of Closed Circuit Television CCTV Link Tower to read Automated and Integrated Closed Circuit Television, wording of Wind Measuring Unit to Weather Measuring Unit and Radio to Radiosond.

Minister of Transport Francis Kasaila said the passing of the bill was timely because any delay will prevent flights into or out of Malawi because of airports safety and security conditions.

He promised that Government is now going to work flat-out making sure that within shortest time possible it procures equipments to improve on the concerns by International Civil Aviations Authority.

Throughout the deliberations, legislatures from Northern region emphasized the need to as well rehabilitate, Mzuzu airport which is hub for the north.


However, responding on calls for the need to rehabilitate Mzuzu Airport the Minister of Finance Goodall Gondwe said Government is waiting people from Mzuzu city to make a unison decision of the land where the airport could be relocated.

Gondwe said the main impediment for Government to commence consteuction of new airport in Mzuzu is because there are deffering views on where the airport be relocated to "Some wants the airport be relocated to Chiweta, someone says another place.

But it is up to us the people from the northern region to make a decision and then we can inform the ministry.” He said 

“Any thinking person will not oppose that, and as a citizen of Mzuzu I would like to see a very good international airport in Mzuzu and we will put in plans, as government we are very actively seeking funds to construct that airport. We have started with rehabilitation of Chileka and Kamuzu the next one is Mzuzu airport." He said but as to when that money is to be available, Gondwe said it is not known now because Government has to solicit funds.

Minister of Transport Francis Kasaila in an interview concurred with the Finance minister on this call saying Government would like to let people of Mzuzu to tell their choice of land for the Airport.

"The minister of finance made it clear, it is upon the people on the ground to decide the piece of the land that they can offer for the construction of the airport.

Few years ago Government spend to a tune of K250 million, to pay for the land and paid for compensation so that we relocate the airport to a safer place because where it is now is not a good place, you can easily have an accident. 

But after paying for that land and after having compensate people, the people there encroached on the same land. All that land that we got was encroached. Now government had nothing else to do apart from going back to square one and that is where we are saying we have to find land suitable for another airport." He said 

"After the people there decide where the free land for the airport is, we are going to send our technical people to do the necessary feasibility studies and after that appropriate designs would have to come in and then we will know what cost implications are going to come because of that airport and then we can look for the resources from donors or from other well-wishers who can support in that endeavor." Said Kasaila


He added that after the decision, Government will send technicians to do feasibility studies and calculate costs for construction of the airport and later look for the resources.

However, the Government decision to wait for the people of Mzuzu to make their own decision, saw a reaction from member of Rumphi Central, Kamulepo Kalua who protested against such decision by asking Government to make a conclusive decision forcing people to vacate with immediate effect from the already identified land.

But the Transport Minister said "It is not up to me (Government) to go and impose on the people",  "The ball is in their court." He added

The passed bill according to Kasaila will also boost aviation sector now that the Japanese are coming next year to provide an extension of the terminal building at Kamuzu International Airport. Through the Japanese project, there will be two separate buildings to allow domestic flights and international flights passengers use their own terminals.

Friday, 20 November 2015

FDH Bank Donates K2 Million To Spouses Of Policemen

Kachama (left) Majamanda (right)















A local bank, FDH Bank has donated K2 million to the wife's of Policemen in the Malawi Police Service.


Through the donation, FDH wants to support the policemen spouses engage in some small scale businesses that can support them and their families.


Majamanda









Head of Corporate Business Banking for FDH Bank, Sitabene Majamanda when making the donation at the Police Head Quarters in Lilongwe, said this year, FDH decided to empower police officers wives so that they can support their families through small scale businesses while as their spouses are providing noble safety and security service to the country.


"When we came in to Malawi Police Service on a business trip, we actually come across this idea that what if we come up with the sustainability what we call Ethics and Sustainability within our corporate social responsibility to create a fund for the spouses of the police men.









We know the great job that the police men do. They are so many of them but we thought about their wives that are sitting at home supporting the men that are out to do the job. So our management was pleased to support this initialize because it is part of women empowerment." Explains Majamanda


"When our police officers are sure that their spouses are generating extra money, they can have peace of mind while carrying out their duties" added Majamanda who thanked the dedicated men in Uniform who are playing a critical role in the development of the country day and night of providing safety and security services that is important for many of Malawian business to be able to do their business in peace.

Kachama









After receiving the money, the wife of Inspector General of Police, Ruth Kachama, chairperson for the Police Officers Wives, said the donation will boost their Welfare Fund established a year ago when State President Peter Mutharika made a donation worth K5 million.


"This is good gesture and will assist us very much and empower the wives of police officers." Said Mrs Kachama









Kachama said some of the businesses that Police wives do include poultry, groceries and other small scale businesses.


The K2 million revolving fund will be fully administered by the Malawi Police Service without the FDH Bank involvement.  However, the bank will continue supporting the women by providing some training through business clinics to help them gain basic skills for running small businesses. The first lot of women have already undergone this training.










The police women will be able to borrow small amounts that they need to do some small scale business. When they borrow the money, it will have a 6 months grace period after which they are expected to repay it without interest. The repaid amounts will allow the other women to also borrow from the revolving fund and also repay interest free after the six months period.


According to the Bank, there is free interest because the donation is coming as cooperate social responsibility and women empowerment. The Bank further maintains that the help was necessary to empower women spouses who in most cases take care of the children so that they contribute to the economic well-being of their husbands by engaging in some activities that can generate some extra revenue for the family while as their husbands are providing safety and security to the nation.


FDH Bank is a Malawian Bank which started operations in 2009 and is part of the FDH Financial Holding Group which has subsidiaries in stockbroking, discount house operations, Money Bureau and recently acquired 80 percent stake in Malawi Savings Bank