Malawi Leaf News Today

State controlled Auction Holdings Limited (AHL) Group plc has sued its former external auditors Deloitte, claiming over K44 billion lost due to alleged professional negligence when it was auditing its subsidiary Malawi Leaf Limited. In a response to our questionnaire seeking to establish remedies it was undertaking following the loss, the public listed AHL confirmed

A 23-member Chinese delegation of investors examined the country’s tobacco at the Lilongwe Auction Floors on Friday as momentum gathers around potential import deals. Their arrival last week has excited the Tobacco Commission (TC) with its chief executive officer Joseph Chidanti Malunga signalling that an agreement would be on the cards after the investors were

A 23-member Chinese delegation of investors examined the country’s tobacco at the Lilongwe Auction Floors on Friday as momentum gathers around potential import deals. Their arrival last week has excited the Tobacco Commission (TC) with its chief executive officer Joseph Chidanti Malunga signalling that an agreement would be on the cards after the investors were

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July 10, 2021 Peter Makossah - Nyasa Times 1 Comment An on-going assessment of operations for the financially –struggling AHL Group has revealed how, one of its once competitive subsidiary, Malawi Leaf Company Limited (MLCL) lost millions of dollars due to unreliable international deals that ended up in exorbitant lawsuits. MLCL is now in deep financial stress after posting a loss of about K44 billion and the board is contemplating to either close down the company or have it revived bu...

February 9, 2021 Owen Khamula - Nyasa Times 3 Comments State produce trader Agricultural Development and Marketing Corporation ( Admarc)  has rebuffed agriculture commodity trader, AHL to retrench 40 percent of its staff as one way of restructuring. Kusamba-Dzonzi: Has asked AHL to fix the financial mess at Malawi Leaf first where money amounting to K42 billion is said to have gone missing Lately, AHL has been sailing through turbelent financial waters. This led to the company failing...

February 5, 2021 Wanga Gwede and Owen Khamula - Nyasa Times 24 Comments Financially struggling AHL Group, formerly Auction Holdings Limited,  has announced that it is retrenching some of its employees. AHL workers face job loses The company has failed to pay its employees for over four months due to financial hardships facing the group. AHL Group, which owns and manages the country’s tobacco marketing floors and a commodity exchange among others, is owned 42 percent by the Malawi Gove...