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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 but with a better business model. A mother carrying her baby on her back while working in tobacco fiel...