Author: malawinewsnow

New stadium needed in Blantyre – Sulom

BLANTYRE -Super League of Malawi (Sulom) vice president Daud Suleman says there is an immediate need for a new stadium in Blantyre. Suleman said Kamuzu Stadium is failing to accommodate huge number of football fans during games since some stands were closed off due to maintenance. Sulom’s sentiments come after the facility exceeded its capacity during the Blantyre derby of Be Forward Wanderers and Big Bullets, the country’s soccer powerhouses, last Saturday. Suleman said a lot of fans complained for not making it into the stadium during the game due to the sports cathedrals failure to accommodate them as...

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National Bank of Malawi buys Inde Bank from government

LILONGWE -In a bid to grow its transactional banking base, the National Bank of Malawi has bought 75% of Inde Bank therefore making it the strategic owner with the remaining 25% left for the government. Previously government owned 100% shares of Inde Bank which has branches of its services in the country. The sale of Inde bank has been done concurrently with MSB sale to FDH Holding Limited of local business tycoon Thom Mpinganjira. In a statement released today, Minister of Information Kondwani Nankhumwa said the signing of the agreements today is not a waste as both MSB and...

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Malawi disposes of savings bank shares

LILONGWE  – The Malawian government has disposed of 75 percent of its shareholding in the state-owned Malawi Savings Bank (MSB) and Inde Bank, Finance Minister Goodall Gondwe announced Thursday. Gondwe told journalists in the capital Lilongwe that the shares in MSB have been sold to Financial Discount House Holdings while those in Inde Bank were sold to National Bank of Malawi. “Following this development, government shall proceed with the selling of its shares to the winning bidder and reserve the remaining shares of 25 percent for the public,” he said. He assured the public that the shares especially in...

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