By Sam Kalimba

The Board of the Centenary Bank has presented a summarised, unaudited financial results for the six months ended 30th June 2023.

In economic highlights, the results indicate that headline inflation closed at 27.30% in June 2023 up from 25.4% in December 2022 and 23.4% in June 2022. it says that the increase was predominantly on account of currency depreciation and rising food prices.

“The Kwacha went through a mini depreciation mid-June 2023 losing around 3% of value. There is continued pressure on the kwacha as the country works on fixing the supply side of the currencies from major trading partners. The reference rate closed at 21% up from 17.3% in December 2022 and 13.8% in June 2022,” the results state.

The report asserts that the Group has achieved a remarkable turnaround from the adverse performance that was prevalent in the past two years. It shows that all key performance areas are showing signs of recovery and are pointing in the right direction.

“The group is now well-capitalised following a change in shareholding and capital injection at the beginning of the year. We have attained business volume growth and reduced the cost of doing business despite increasing economic pressures. Overall profitability for the Group stood at MK970 million at the close of June 2023 compared to a loss after tax of MK959 million up to June 2022, which represents a 201% increase in profitability,” reads the report.

The report further suggests that the Group earned MK5.3 billion in net interest income compared to the prior year’s net interest income of MK3.3billion representing 59% income growth due to a reduction in the cost of funding. It says the Total non-interest revenue increased by 59% to MK5.0 billion from MK2.9 billion earned in the prior-year period due to increased transactional volumes.

“We achieved 64% growth in total income to MK10.3 billion from MK6.3 billion due to an increase in transaction volumes and a reduction in the cost of funds. Impairment charges on loans and advances to customers rose by 111% to MK431 million from MK204 million due to various economic challenges faced by the business and the impact of Cyclone Freddy on our customers,” it reads.

The report states that operating costs rose by 14% to MK8.4 billion from MK7.4 billion in the prior year due to inflationary pressures. We focused strongly on cost containment to ensure below inflation cost growth. It says that total assets for the Group grew by 12% to close at MK109.8 billion in 2023 from MK97.7 billion following increased funding mobilisation and business volume growth strategies. We have repositioned our balance sheet through the repayment of borrowed funds and replacing it with deposit funding. In this regard, we have reduced our funding from borrowings by 79%, from MK37.2 billion to close at MK7.8 billion in June 2023.

It portrays that the bank’s funding through depositors has since grown by 70%, up to MK84.3 billion from MK49.6 billion in June 2022.

OUTLOOK FOR 2023

The results report puts that the Group expects macroeconomic pressures to persist in the second half of 2023, with sustained pressure on the kwacha and rising inflation.

“We expect the economic pressures, including the aftermath of Cyclone Freddy, to affect various businesses and customers’ disposable incomes and ability to meet their contractual obligations. However, we are optimistic about continuing with the growth trajectory as we continue to implement the various business growth strategies we have embarked on since the start of the year.
We will continue to focus on improving customer satisfaction and efficiencies, upgrading our systems, and driving the digitalization agenda to grow the business and enhance customer experience.
We will also continue to focus on cost rationalization, prudent management of risk and liquidity, and diversification of balance sheet funding while maintaining a healthy capital position,” it says.

The report was duly signed by the Board Chairman Dr. Francis Perekamoyo and other three officials.

The Catholic Women Organization in Malawi has on Saturday, 22nd July 2023 celebrated a Golden Jubilee anniversary at Civo Stadium in the Archdiocese of Lilongwe.

His Grace Archbishop George Desmond Tambala of the Archdiocese of Lilongwe presided over the Eucharistic Mass.

Here is a full pictorial focus of the event.

There was a Luncheon after the Mass at Maula Cathedral.

END.

The Archdiocese of Lilongwe in conjunction with different religious groups in Lilongwe has on 13th July 2023 protested peacefully against the homosexuality.

The demos which were organised countrywide have an aim of defending Marriage, Family and Human Sexuality in the country in the background of natural law as well as Malawian culture.

Archbishop George Desmond Tambala of the Archdiocese of Lilongwe said that they have delivered the petition to the parliament to alert them on the laws of Human Sexuality and also to send message to all donors to not change the laws of the country as it does not reflect a true culture and beliefs of Malawi.

“We are very concerned that if we allow the law on marriage to change, we are going to destroy the family. We are also going to affect the education of our children. There is also a message which we have delivered to our donor partners that in as much as they help us, they should remember that we are a sovereign state and to be respected. We shouldn’t be given a condition in order to receive aid,” Archbishop George Tambala expressed.

In the Petition, the leaders of different religious groups have asked the parliament and government of Malawi to do a Referendum if people want to have the homosexual act in the country.

“All Malawians should be consulted on this particular law”, His Grace Tambala concluded.

The groups expressed their dismay towards the call from some quarters to legalise same sex relations, saying this will greatly impact on family.

Yusuf Nthenda after receiving the petition

Chairperson of Legal Affairs Committee of the Malawi Parliament, Yusuf Nthenda received the petition which was presented by His Grace George Desmond Tambala and other religious group leaders.

At the Parliament, the minister of information, Moses Kumkuyu commended the move which the religious groups have shown in presenting the petition to the parliament as it is a constitutionally recognized channel.

Kumkuyu assured the gathering and the members of various faith groups that the petition will be taken through proper channels to be discussed at the parliament.

“As government we believe in rule of law… The Parliamentarians are going to look at it when it comes to their attention”, Kumkuyu assured the citizenry.

On his part, the president of the Alliance for Democracy (AFORD), Enock Chihana commended the move which the religious leaders have taken in the country to defend the family.

Chihana said that it is time for Parliamentarians to act for what people are telling them to do as the petition is not asking them to do a favor.

The demonstrations were organised by the Episcopal Conference of Malawi (ECM), Evangelical Association of Malawi (EAM), Muslim Association of Malawi (MAM), Qadria Muslim Association of Malawi (QMAM) and Malawi Council of Churches (MCC).

The Episcopal Conference of Malawi (ECM) has on Friday June 9th, 2023, celebrated a Laudato Si Day at Maula Cathedral in the Archdiocese of Lilongwe where different stakeholders showcased their efforts in conserving the environment in the country.

The Catholic church in Malawi joined the global campaign with theme of this years’ Laudato Si’ Week ‘Hope for the Earth. Hope for humanity’ in celebration of the eighth anniversary of the publication of the encyclical Laudato Si’.

The Laudato Si is a Vatican Document written by Pope Francis on environmentalism, ethics, and Christian faith which has the subtitle “on care for our common home”.

The Dean for Mtima Woyera Deanery, who was also a guest of honour at the event, Reverend Father Augustine Katundu described the demonstration as impressive in as far as environmental conservation is concerned.

Father Katundu commended different groups on how they are dealing with climate change using several interventions that were showcased.

“If we conserve the environment, if we are friendly to the environment, we will contribute to good climate,” says part of his statement.

Father Katundu says efforts being conveyed by the Catholic Church in the implementation of Laudato Si is very important to the country.

Father Katundu said the country needs these kinds of demonstrations to reach all people in order for them to conserve the environment thereby minimizing natural disasters which the country is currently facing.

“We are yet to reach out to all the people, especially the Christians in parishes with the message in the Laudato Si,” he concluded.

Some of the stakeholders present at the event include Catholic Women Organisation, Catholic Development Commission in Malawi (CADECOM), TROCAIRE from Ireland, Mbira club from Kasungu, Students from Kasungu L.E.A and other stakeholders.

By Eric Norman Mkwaira:

The National Task force for the Sub-Region Conference of Bishops of Malawi, Zambia and Zimbabwe has started its first preparatory meeting on May 17th, 2023, at Maula Parish in Lilongwe, Malawi.

The aim of the meeting was to review the role of the task force specifically the Episcopal Conference of Malawi (ECM), and other structures and its membership.

The Task Force consists of the ECM Secretariate; the Bishops and Secretary General, and its Technical Committee, National Organizing Committee; Archdiocesan Curia, AWRIM, AMRIM and the Laity Council, and Archdiocesan Celebrations Committee and Liturgical Commision (Lilongwe).

Speaking after the meeting, Deputy Secretary General for the Episcopal Conference of Malawi, Fr Valeriano Mtseka commended the meeting saying it will help in preparing the Sub-Region Conference which will start with a Eucharistic celebration at Maula Cathedral on Monday 17th July 2023.

Fr Mtseka added that the conference will help the three countries; Malawi, Zambia and Zimbabwe, to build a bond as it has happened in the past during the colonial era. He further said that the bond will among others help the church in these countries to easily share experiences in as far as Pastoral work is concerned.

“We want to make sure that we enhance the pastoral collaboration that should be there, for example we could have seminarians from Malawi have their formation in Zimbabwe, we could have seminarians from Zambia have their formations here in Malawi,” he added.

The meeting has helped in selecting some members to lead the Task Force.

The bishops of the three countries are expected to discuss issues that closely affect the Sub-Region.

The plenary meetings of the Sub-Region Conference of Bishops of Malawi, Zambia and Zimbabwe started last year in Zambia. This second one will take place here in Malawi from 17 July to 22 July 2023.

by Hilary Ngwira

On April 12, 2018, Centenary Bank Limited made history by opening the first-ever bank branch at Dzaleka refugee camp in Malawi. As the branch celebrates its 5th anniversary at the camp, it is evident that the branch has significantly impacted the lives of the refugees living in the camp.

The Bank’s mission was to provide refugees with access to financial services that were previously unavailable to them and include them in the financial system. With the support of the United Nations High Commissioner for Refugees (UNHCR) and the World Food Programme (WFP), Centenary Bank Limited has disbursed loans to thousands of refugees over the past five years. The loans have been used to start businesses, pay for school fees and improve living conditions, uplifting the economic lives of refugees and giving them a sense of independence and hope for a better future.

In addition to providing financial services, the Bank has created job opportunities for refugees, empowering them to support themselves and their families. This has contributed to the overall development of the refugee camp and has helped to reduce dependence on external aid.

Managing Director of Centenary Bank Limited, Zandile Shaba, expressed her pride in the impact of the initiative on the lives of refugees. “Our initiative in Dzaleka has shown us the power of financial inclusion to transform lives. We attribute the success of the initiative to our commitment to social responsibility and our dedication to improving the lives of marginalized communities,” she said. She added that “through this initiative, the Bank has shown that financial inclusion is not just a matter of profit but also a matter of social impact.”

Shaba emphasized the importance of partnerships and collaboration in achieving sustainable development goals, stating that the initiative would not have been possible without the support of UNHCR and WFP, who provided critical resources and expertise.

Looking forward, the Bank will continue to prioritize financial inclusion as a key component of development initiatives. “By including marginalized communities in the financial system, we can create opportunities for economic growth, social mobility and overall well-being,” said Shaba.

Centenary Bank Limited’s initiative in Dzaleka has demonstrated that financial inclusion can make a significant difference in the lives of refugees. The Bank remains committed to supporting similar initiatives that prioritize social impact and empower marginalized communities.

By Eric Norman Mkwaira

The Catholic church in Malawi celebrated the National Vocations Sunday at Our Lady of Victory – Madisi Parish in the Archdiocese of Lilongwe on 30th April 2023 with a Eucharistic Mass which was presided over by the Archbishop of the Archdiocese of Lilongwe, His Grace George Desmond Tambala.

His Grace George Tambala has asked the youths to refrain from the activities which other people are doing with the purpose of demolishing their intended vocations.

His Grace also warned the youth to be careful with online actions including crimes which can be made on social media as many social apps do not control what to watch and what to upload. He emphasized on taking all precautionary measures as there are foreign agents including those people who give bad tutorials on how to do something by giving example of those people who put videos of how to shoot somebody or how to rob a bank. He said this can destroy the youth in the church thereby minimizing the prospects to vocations.

“For us in Malawi, we have now the coming in of ideas, ways of thinking that are very foreign to us as Africans and also as Christians. Their ideas and ways of life are aimed at enticing the youth to the wayward life,” he said.

He has however asked the youth to decide to join religious life now as there are less people in the parishes compared to the clergy. The Catholic Vocations are categorized into four different callings: married life, priesthood and religious life and the single life.

“We have also a challenge today, that people take time to decide and maybe they never decide at all. As a human being, that’s not good at all. A Christian has to be a person who takes a decision. That’s what I wanted to say that we need their word now, their decision now, not tomorrow,” he expressed.

On families, the Archbishop said that there’s a need for the good families in the church. Good families will give good candidates to priesthood, sisterhood and brotherhood.

The Eucharistic Celebration of the Mass was co-celebrated by the Vicar General of the Archdiocese of Lilongwe the Very Reverend Father Vincent Mwakhwawa, Pastoral Coordinator of the Archdiocese of Lilongwe Father James Mkwezalamba, the Parish priest of Madisi Parish Father Kelvin Khodola and other priests.

The Pontifical Mission Societies in Malawi (PMS) says it is ready to share information about vocations to all the youths in the country in order to help them all decide which vocation to take accordingly.

PMS Director in Malawi the Very Reverend Father Vincent Mwakhwawa said the target will help the youths to also share the information within themselves as they will not be shy with elder people.

“We have to accept that priests and sisters and brothers cannot reach every other corner of the country because of time, resources and also the vastness of the Dioceses. Through the young people we want to reach out to many young people so that they can share information,” he said.

In his remarks, the chairperson for the youth from the Archdiocese of Lilongwe Chisomo Nkhoma said as the youth they are ready to go and teach their fellows in order to help them understand their vocations.

Vocations Sunday in the Catholic Church takes place every year on the last Sunday of the month of April.

By Sam Kalimba

Youth in the Archdiocese of Lilongwe plan to raise an equivalent of USD4,000.00 on the Vocation Sunday that falls on 30 April, 2023. Revealing this was the Vicar General for the Archdiocese, Very Rev. Fr. Vincent Mwakhwawa on Thursday in an interview with this reporter.

The Vicar General who is also the national Pontifical Mission Society ( PMS) Director at the Episcopal Conference of Malawi (ECM) said that the youth of Lilongwe were challenged by their counterparts from the Catholic Diocese of Mzuzu who last year raised close to $3,000.00.

“The Vocation Sunday venue is on rotational basis. Last year it was hosted by the Diocese of Mzuzu youth and now it is the turn of the youth of Lilongwe to host. Much as the occasion is meant to train the youth how to discern and decide on their personal choices on the right path to serve God, the day also serves as a call for collections for the purposes of helping the universal Church fund the vocational institutes. I am happy to learn that the youth in the Archdiocese of Lilongwe have agreed to raise about $4,000.00 to be sent to Rome. It is so gratifying to see the participation of the youth in raising funds for the vocations,” he said.

Fr. Mwakhwawa said that the youth of Lilongwe will assemble on 30 April at one of the rural parishes in the Archdiocese to ensure everyone’s vocation is considered important. He said that among other activities, the prelate of Lilongwe Archbishop George Tambala will give a motivational talk to hundreds of youths that will gather at the parish.

“Our Archbishop has a soft spot in his heart for children and youths of the Archdiocese. He has special plans for them and he will speak to them from that perspective as he will be encouraging them listen carefully to God’s call to various vocations. We also have received confirmations from various religious institutes in the country to attend and provide talk sessions. We will also have lay professionals to provide career guidance to the participating youth,” he said.

The preparations for this year’s Vocation Sunday were launched on 25 February at the same parish that will host the event. Youths from the Diocese of Mzuzu presented a Candle to the youth of Lilongwe symbolizing the passing on of responsibility for the year 2023 to 2024. From 30 April, the youth from Lilongwe will among other activities engage in peer-to-peer animation on different types of vocations and how to get involved.

It is expected that youths will come from all the 46 parishes in the Archdiocese and some from other dioceses. Sunday collection for this fourth Sunday in Easter will go to the ECM Secretariat for the promotion of vocations. This year’s Vocation Sunday will be cerebrated under the theme ‘hearts on fire, feet on move’.

by Sam Kalimba

Handmaids of Our Lady of Mt. Carmel Sisters of Zimbabwe say they feel great hope of fulfilling the Synodality theme of “For a Synodal Church: Communion, Participation, and Mission” as they open a new community in the AMECEA Region, Malawi.

Prioress General, Mother Madeleine Chapisa HLMC, came in person from Zimbabwe to officially announce their arrival in the Episcopal Conference of Malawi through the Archdiocese of Lilongwe on 15 April 2023 on the sidelines of the official launch of the Centenary Bank.

She said that their coming to Malawi is a fulfillment of the synodality objects as it puts the concept of synodality into practice.

“From the time our two sisters arrived on this land they are overwhelmed by love, faith and commitment of all the faithful here. During this Synod period the sisters already feel great hope of fulfilment in their communion with the local Church, participation in its life and mission. I see we have many things to learn but we are ready to learn on the journey,” she told congregants.

She said that in his sendoff homily to Sisters Evelyn Kadzere and Valentine Gudyanga who were coming for a mission to Malawi, Bishop Paul Horan of the Diocese of Mutare in Zimbabwe made it clear that this was not their own idea or project but they were coming in the name of the congregation and the Church.

She thanked His Grace, Archbishop George Desmond Tambala on behalf of her congregation, for the invitation to join the Church of Malawi to make their what she termed as small contribution to its great mission especially during the time when the country had experienced Cyclone Freddy and its effects.

“We could not come at a better time than this. Yes, we are making the synodal process a reality and at the same time the coming of our sisters has made us feel very close to you and all the people as you face this tragedy,” she said.

As a matter of introducing their congregation Sr. Madeleine Chapisa Said that the Handmaids of Our Lady of Monut Carmel was founded in 1959 in Mutare, Zimbabwe by an Irish Carmelite Bishop, the late Bishop Donal Raymond Lamont.

“Our founder gave us the title ‘Handmaids of Our Lady of Mt. Camel’ for, he wanted us to be close helpers of the Blessed Virgin Mary, who is the servant of the Lord in the great work of salvation as seen in Luke 1 verse 38,” she said.

She said that as the first Carmelites on Mt. Carmel in Israel, they live the Carmelites Spirituality after the example of the prophet Elijah and Mary mother of Carmel. They believe that living in the presence of God, they strive to do ordinary things with their hearts and mind fixed on God’s will for themselves and His people. In the Carmelite family they are Contemplatives in Action.

According to Sr. Madeleine their participation in the work of salvation is not confined to any one ministry but rather they engage in every service that gives them the opportunity to help Mother Mary in bringing people to Jesus and also keeping in line with their way of life.

Rev. Sr. Valentine Gudyanga and Rev. Sr. Evelyn Kadzere HLMC, arrived in the country at a time when schools were on recess to work at St. John’s Boys Secondary School which belongs to the Archdiocese of Lilongwe.

End.

by Eric Norman Mkwaira

The Catholic Archdiocese of Lilongwe has launched the Centenary Bank Limited at the Archdiocesan level on Saturday 15^th April 2023 at Maula Podium in Lilongwe.

The launch started with the Eucharistic Celebration which was presided over by the Archbishop of the Catholic Archdiocese of Lilongwe His Grace George Desmond Tambala as main celebrant with the Auxiliary Bishop for the Catholic Diocese of Chipata Bishop Gabriel Msipu Phiri and Bishop for the Catholic Diocese of Dedza Right Rev. Peter Adrian Chifukwa as co-celebrants.

His Grace Archbishop George Tambala emphasized the launch as a chance to give Malawian citizenry better products and services as the bank will give the citizenry a chance to improve their livelihoods.

In his homily, His Grace George Tambala said the Catholic Church cannot invest in anything that can cause harm to the people but uplifting the lives of people and giving alternatives in terms of social participation.

“We as Catholics don’t just invest in any place… The Catholic church does not invest in anything that does harm to people and as an example, like if there is a factory that is making arms. We can’t invest in that kind of thing because at the end the people will lose their lives,’’ said His Grace.

The vice president of the republic of Malawi Dr Saulos Claus Chilima was the guest of honor.

Chairman of the board of directors at the Centenary Bank Limited Dr Francis Pelekamoyo added that they are aiming to go and reach all hard-to-reach areas in the country so that the citizenry can have full access of bank services.

Dr Pelekamoyo added that they want to start giving financial tips to the people so that they can manage well their finances.

“We want to undertake financial literacy. We don’t just talk about banking, but we also provide financial literacy to our customers so that they know what they should do with the money lent to them,” he added.

He said the bank will reach all the people by using parishes which the Catholic church has in the country thereby creating the wide network to the citizenry.

At the event many people managed to open their bank accounts as there were many workers from the bank who were helping in getting them open their accounts.

The Archdiocese of Lilongwe and the Centenary Rural Development Group Limited of Uganda bought MyBucks Bank and rebranded it to Centenary Bank Limited.