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PCL 39th Annual General Meeting

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Press Corporation plc gives K3 million to Media Council

PCL COVID-19 Response: Group CEO for PCL, Dr. Geroge Partridge (left) makes a symbolic presentation to Director of Health and Social Services at Blantyre District Health Office, Dr Gift Kawalazira, at the Kameza Isolation Centre site. Conglomerate Press Corporation plc has given K3 million to Media Council of Malawi (MCM) for revamping its secretariat. The money will be used for office logistics and equipment including the in-house printing of accreditation cards for journalists.

Presenting the cheque in Blantyre on Wednesday, Press Corporation plc General Counsel Benard Ndau said they decided to respond positively to MCM’s request because as a company, Press Corporation plc believes in media freedom and transparency and the promotion of ethical standards in the media.

Mwadiwa appointed new Press Corporation plc Chairman

Mr Randson Mwadiwa Chair

Press Corporation plc Board of Directors have appointed former Secretary to the Treasury Randson Mwadiwa as its new Board Chairman following the retirement of former Chairman Patrick Khembo.

Mwadiwa was appointed to his new position following a Press Corporation plc board meeting held in Blantyre on Monday.

Press Corporation plc Company Secretary Bernard Ndau confirmed of Mwadiwa’s appointment and two other new non-executive directors on the board.

“Apart from the appointment of Mr. Mwadiwa as Chairman of the Board, two other non-executive directors were also appointed namely Mr. Dye Mawindo and Mrs. Betty Mahuka,” said Ndau.

Khembo together with other two directors Ben Chidyaonga and Estelle Nuka retired from the Press Corporation plc board recently.

Mwadiwa holds a Bachelor of Arts Degree in Public Administration, Master of Arts in Public Administration and another Master of Arts in Industrial Affairs.

After graduating from the University of Malawi’s Chancellor College in 1978, Mwadiwa joined Commercial Bank of Malawi as a Management Trainee before joining the Malawi Civil Service in 1979 where he severed in various positions until he retired in 2016.

Among other positions that he served in the civil service include Secretary to the Treasury, Secretary for Agriculture, Secretary for Energy and Natural Resources, Secretary for Gender and Children, Secretary for Transport and Public Works and Secretary for Industry and Trade.

Mwadiwa has also served on a number of parastatal boards for a number of years and currently consults on Public Finance Management and Public Service Reforms.

Press Corporation plc which is listed on the Malawi Stock Exchange (MSE), is one of Malawi’s largest conglomerates with interests in different sectors of the Malawi economy including financial services, telecommunications, food and beverage, energy and consumer goods.

By Mc Donald Chapalapata, a Contributor

Election of Chairman of The Board of Directors

PRESS CORPORATION PLC (PCL) is pleased to announce that at its 163rd Meeting held on Monday, 7th September 2020, the Company’s Board of Directors elected Mr Randson Mwadiwa as the new Chairman of the Board. Mr Mwadiwa succeeds Mr Patrick Khembo who retired from the Board on 21st August 2020 after serving as director for five years.

Mr. Mwadiwa is an accomplished public administrator, with particular interest and expertise in public finance management as well as public sector reforms. He has had a distinguished and enviable public service record spanning over a period of 40 years, during which he rose to serve as Principal Secretary in various ministries including Ministries of Finance, Trade and Industry, and Energy and Natural Resources. In this role, he had close interaction at high level with private sector players and was instrumental in ensuring an effective interface between public and private sector interests.

Mr Mwadiwa has previously served, and continues to serve, on several boards in the private as well as public sectors.

The Board and Executive Management of PCL express their gratitude to Mr Khembo for his commitment and leadership; and, congratulate Mr Mwadiwa on his election as Chairman and wish him success.

By Order of the Board

BENARD M.W NDAU
COMPANY SECRETARY

Dated this 7 th day of September 2020

Labour Minister Kandodo visits PCL offices

DSC 0003C Minister of Labour Ken Kandodo on Tuesday 28^th July 2020 visited offices of Press Corporation plc at PCL House, Top Mandala in Blantyre.

The newly appointed minister said he thought of interacting with Press Corporation plc management on the task of creating 1 million jobs.

“We thought we should engage and share ideas on the creation of 1 million jobs with Press Corporation plc being one of the largest conglomerates in the country,” said Kandodo who was flanked with Principal Secretary for Labour Dr Esmie Kainja and other technocrats in the ministry.

In his remarks, Press Corporation plc Group Chief Executive Officer Dr George Partridge said creating 1 million jobs is possible and can be done.

“We pledge our support towards the creation of 1 million jobs. It is possible and it can be done given the right environment,” said Dr Partridge.

He called on the minister to push for Labour Law Reforms saying some laws are skewed towards one side which makes it difficult to create a conducive environment for job creation.

Dr Partridge also called on government to address challenges regarding unfair and uncertain interpretation of laws by regulatory authorities and lack of level playing field by regulators generally, and in respect of the interpretation and enforcement of tax laws specifically which have seen some of its subsidiary companies like Castel Brewery Malawi laying off workers because of tax issues.

“We also want government to be flexible to give licenses to independent power producers. We had partners who were ready to invest with us in the power sector but they left frustrated because government could not give us power licenses yet when they went to Mozambique and Zambia they had not problems and one tend to wonder what is wrong with Malawi?” said Dr Partridge.

He also asked government to address issues of tax evasions and counterfeit products saying it is disheartening for tax compliance companies like Press Corporation plc and its subsidiaries such as PTC to be victims of others who do not pay tax and bring counterfeit products and choke production of genuine products who also pay tax to government.

PCL delists from London Stock Exchange

PCL delists from London Stock Exchange

Conglomerate Press Corporation plc has delisted from the London Stock Exchange (LSE) as a global depository receipt following a review of continued benefits of listing on the bourse.

Press Corporation plc Board Chairman Patrick Khembo told the company’s Annual General Meeting (AGM) which was held virtually due to the Covid-19 pandemic in Blantyre on Friday that Press Corporation plc delisted on LSE on 10^th July 2020.

“I would like to inform all shareholders that, following our application, the Company was delisted from the London Stock Exchange with effect from 10th July 2020. The Board took the decision following a careful and thorough assessment of the benefits of our continued listing on the London Stock Exchange.”

“The factors that were considered included the extremely low trading volumes for the past years; huge regulatory, compliance and administrative costs the Company incurs annually; the likely liquidity benefits that a cancellation could trigger on the local market,” said Khembo.