Press Corporation PLC

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Press Corporation CEO Dr Ronald Mangani has been featured in the prestigious the CEO Magazine....https://digitalmag.theceomagazine.com/ronald-mangani/

Mr Lewis Msasa could not put it any better...kudos...

Congratulations Mr. Harold Nester Jiya on your well deserved appointment....

We are calling for Request for Proposals on Solar Power Technical Feasibility study....

PCL donates medical equipment to BT DHO

Conglomerate Press Corporation plc has donated various medical equipment to the Blantyre District Health Office to help save lives during the festive period.

The items included oxygen cylinders, oxygen concentrators, oxygen regulators and nasal tubes.

Press Corporation plc Chief Executive Officer Ronald Mangani said, as a corporate citizen, PCL decided to donate the items to help hospitals to save lives.

“As we approach the year-end festive season we tend to have a lot of accidents, and lifesaving equipment comes handy and useful in this period. We thought we should help the hospitals with this equipment at a time when it is likely to be providing critical services to the country,” said Mangani.

Receiving the donation, Blantyre District Health and Social Welfare Officer Dr Gift Kawalazira thanked PCL for the donation, saying it has come at the right time.

“We are very grateful for this timely donation. It is an early Christmas gift for us. This is critical lifesaving equipment which is used on people that have breathing problems. You know that if you cannot breathe it's actually a matter of minutes before you can die.

“So, this equipment becomes handy especially now that we are going towards the Christmas period, hospitals become busy because of accidents from different sources. We want to promise PCL that this equipment will be used for its intended purpose,” said Kawalazira.

He called on other well wishers to emulate the example set by PCL saying ‘health business is everybody’s business'.

Our trading statement in respect of the year ending 31st December 2023....

PCL cheers the elderly with Christmas gifts in Mpemba

Conglomerate Press Corporation plc (PCL) on Friday gave an early Christmas gift to the elderly in Mpemba, Blantyre by donating food packs and treating them to a Christmas luncheon.

Speaking during the event at Nthanda Ya Kum'mawa Elderly Trust at Jiya Village, PCL Chief Finance and Administrative Executive Moureen Mbeye said they decided to reach out to the elderly after being approached for help.

“It was at the peak of the Cyclone Freddy disaster when Mrs. Uko approached us to give a hand to the elderly here, but since we were also involved in helping other Cyclone Freddy survivors at the time, we could not help. But she kept checking with us and since this is Christmas time, we thought we should squeeze whatever we had in our budget to come and cheer the elderly here.”

“The festive season is a time to give. To be here and share with the elderly gives us so much joy that they will, at least, celebrate Christmas with love and care,” said Mbeye.

Executive Director of the Nthanda Ya Kummawa Elderly Trust Anna Kuloya-Uko thanked PCL for reaching out to the elderly especially during the festive time.

“We started helping the elderly in this area in 2009 with 111 elder people and vulnerable people, especially those with albinism. We have a women’s group that takes care of the elderly and also coordinates some self-sustaining activities for the group and its beneficiaries.”

“Today, we want to thank PCL for these donations and the Christmas lunch, the elderly and the vulnerable people will celebrate this Christmas in a special way because of your donations,” said Kuloya-Uko.

The items that were presented include maize flour, rice, sugar, salt, cooking oil and other necessities.

PCL eyes Puma Energy growth

Conglomerate Press Corporation plc Chief Executive Officer (CEO) Ronald Mangani says PCL will continue to grow the Puma Energy Limited brand to create an impact on the domestic market and the country’s economy.

Mangani said this after opening a new Puma Sam Singh Filling Station on 2 Hannover Avenue in Blantyre CBD, where he also promised to see four more stations opened by the end of the year 2023.

“We are very excited to be associated with the PUMA brand. This means a lot to us because it means the brand is growing. It is increasing its footprints in the market and that’s the trend we see and we are very happy with. As PCL, we want to be associated with investments that are actually making a huge impact on the domestic economy, and PUMA is one of them.”

“We are actually expanding all over. This year alone, we have expanded into several places and the expansion will continue into December. We are looking at opening another four before the end of the year and another two by January. It is an expansion that is cutting across the geography of the country,” said Mangani.

Puma Energy Africa Chief Operating Officer, Ben Hassan Outtara, said in an interview, that the expansion signifies the company’s commitment to ensuring creation of investment opportunities in Malawi.

“We are on a growth trend. We want to be aggressive commercially to be able to create opportunities and jobs for Malawi. For us, it is important to show our strategy that we want to develop here in Malawi in terms of investment, job creation and sustainability. We need to be finding solutions by working with the Government and talking to the regulator,” said Outtara.

PCL has a 50 percent stake in the Puma franchise in Malawi.

Press Corporation plc (PCL) and Cane Products Limited (CPL) are pleased to advise that they have amicably resolved the shareholding issues in PressCane Limited which have been litigated in the courts for more than 17 years.

As a background to this issue, in 2001, Press Corporation Plc and Cane Products Limited entered into a Joint Venture Agreement (“JVA”) to carry on business through a vehicle which was named and registered as ‘PressCane Limited’. As per the JVA, PCL and Cane Products Limited held shares in PressCane Limited in the proportions of 50.1% and 49.9%, respectively.

In the middle of the operations of the Company, shareholding disputes arose, and there had been a series of court actions since 2003. The Malawi Supreme Court of Appeal finally delivered its judgement on 15 December 2022, which effectively maintained the status quo as regards shareholding in the JVA. The Supreme Court Judgement further directed the parties to amicably agree on the implementation of the judgment.

Both Shareholders are happy that this long-standing issue has been resolved amicably. There are no other disputes in the courts as regards this issue, and we will now make sure that PressCane Limited continues to perform well and grows its shareholder value.

We declare an interim dividend for the 2023 financial year amounting to K1.08 billion....

Try your luck...a job opening at one of our subsidiary companies Press Properties Limited....

PCL offers K759 million compensation for Solar Plant land at Nkhoma

Conglomerate Press Corporation plc (PCL) on Thursday offered compensation worth K759 million to community members of Dete area at Nkhoma in Lilongwe after acquiring about 110 hectares of land to set up a 50 megawatt (mw) solar power plant at an estimated cost of K53 billion.

Presenting the cheque to the community members at Wanje Primary School, PCL Board Chairman Randson Mwadiwa thanked the community members for providing their land to pave way for the installation of the solar power plant.

Mwadiwa noted that the use of the community’s land for solar power generation is a sacrifice, and said PCL is committed to ensuring that this sacrifice is duly recognized and compensated.

“This compensation is not just a gesture of gratitude; it is a tangible representation of our community's unity and support for sustainable initiatives. It is essential to acknowledge the contributions and sacrifices made by those who have graciously agreed to provide their land for the establishment of the solar power project."

"As PCL, this ceremony is a heartfelt expression of our gratitude, and a demonstration of our unwavering commitment to responsible land use and environmental stewardship,” said Mwadiwa.

He also said the project, which is expected to be concluded in 2024 with operations starting in 2025, is about building a better Malawi.

“Let us remember that this ceremony is not just about solar panels and energy generation. It is about building a better Malawi , one where we harness the power of the sun to create a sustainable, low-carbon future. It is about creating jobs, stimulating economic growth, and ensuring that our community thrives in a changing world,” emphasized Mwadiwa.

Senior Group Village Headman Dete thanked PCL for compensating the community members fairly.

“We have given up our land on our free will because we understand the benefits of installing a solar plant here. We know we will benefit in many ways through various jobs that will be created during the construction of the plant and other sustainable benefits of solar power,” said the Village Chief.

PCL secured an approval from the Electricity Supply Corporation of Malawi (ESCOM), to connect to the 132KV busbar at its Nkhoma substation after the implementation of the Malawi-Mozambique 400KV transmission interconnection project.

PCL is a highly diversified conglomerate with interests in various sectors of the Malawi economy, including financial services, telecommunications, energy, property, agriculture and tourism.

Some of its subsidiary companies and associates are National Bank of Malawi (NBM) plc, Puma Energy Malawi Limited, PressCane Limited, Ethanol Company Limited, Telekom Networks Malawi (TNM) plc, Malawi Telecommunications Limited (MTL), Limbe Leaf To***co Company Limited, Open Connect Limited, LifeCo Holdings Limited, Macsteel Malawi Limited, Press Properties Limited and Sunbird Tourism plc.

An opportunity avails itself....

We have revised our H1 trading statement...

PCL talks on expansion strategy through mergers and acquisitions

Press Corporation plc (PCL) says it is working on an expansion strategy through mergers and acquisitions (M&As) and has lined up a number of projects to achieve the objective.

Speaking during the 39th Annual General Meeting in Blantyre on Friday, PCL chairperson Randson Mwadiwa, who reported a K36.3.1 billion profit after-tax in the year ended December 31 2022, said the group remains committed to achieving strategic priorities while navigating the broader market and economic challenges.

“The group’s current strategy is centred around optimizing existing assets and investing in capacity for the future. It is with this in mind that the group envisages organic growth through expansion projects in ethanol businesses to unlock its performance and sustainable potential,” said Mwadiwa.

Mwadiwa further said PCL has also engaged in portfolio rebalancing to pursue greenfield projects in the renewable energy as well as processing and manufacturing.

He also told the shareholders that following the ex*****on of the sale and purchase agreement on People’s Trading Centre (PTC), PCL group completed the exit process from the firm.

Commenting on the underperformance of Malawi Telecommunications Limited (MTL) and The Foods Company Limited, Mwadiwa said a decision was made to preserve shareholder value in these entities.

He said for MTL, they consolidated its investment in the telecoms sectors through TNM plc and Open Connect Limited.

Shareholder Joe Maele commended PCL board for the changes it has made at the conglomerate and TNM plc, one of PCL’s subsidiaries.

Minority Shareholders Association of Listed Companies secretary general Frank Harawa also commended PCL’s performance.

PCL is 47 percent owned by Press Trust, 16.29 percent by Old Mutual Life Assurance Company Limited and 36.13 percent by other shareholders.

Press Corporation plc together with its subsidiaries donated and distributed food and non-food items worth K180 million to Cyclone Freddy survivors in Chiradzulu, Mulanje, Chikwawa and Mangochi districts. This was a group-wide response to the disaster in which all group companies put together financial, material and logistical resources to support the exercise....

Together through the storm....

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Downloads | Job Opportunities Press Corporation PLC is a public company incorporated in Malawi, under the Companies Act 1984; and is listed on the Malawi Stock Exchange and on the London Stock Exchange as a global depository receipt. Being the largest holding company in Malawi, Press Corporation has interests in different sector...

Press Corporation PLC updated their business hours.