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Insurers in the country said on Friday the industry is banking its hopes on President Bingu wa Mutharika’s promise of economic recovery which will translate into an increased premium base.
In his address to the Insurance Institute of Malawi (IIM) 2004 conference in Blantyre under the theme ‘A brave new economy...be part of it’, IIM president Donbell Mandala said the change in the country’s leadership in the May 20 general elections has brought hope of economic recovery and promise to the insurance industry.
“As an insurance industry, the national economic recovery will also mean increase in income as there will be increase in the spending power, new manufacturing base hence increased premium base,” he said.
Mutharika pledged in his inaugural speech on May 24 to revive the country’s economy through prudent management of public funds, fighting corruption, reducing the domestic debt and winning back donor confidence.
Mandala, a chartered insurer and general manager for Alexander Forbes Malawi Limited, said the 21st century has brought in a brave new economy which the insurance industry seeks to be part of.
“It is an economy that brings a new hopeful period in history resulting from major changes in society,” he said.
In an interview later, Mandala said IIM is in the process of establishing a secretariat to run the industry’s activities such as training needs which are currently handled by its education secretary and the Malawi College of Accountancy (MCA).
In his presentation entitled ‘Coping in a changing environment’, ZimRe Limited managing director Peter Nkosi said it was high time the insurance industry established its own training college rather than relying on MCA.
Nkosi said training is the key to the industry’s future and challenged younger practitioners to acquire professional qualifications in insurance to take up senior management positions whose current occupants were ageing.
He also said the industry should raise its profile by taking deliberate steps to sensitise the public on the benefits of insurance.
Other speakers during the half-day conference were lawyer Patrice Nkhono, a partner in Mbendera, Chibambo & Associates who tackled the employment law, Project Hope country director Dorothy Namate whose presentation was on the impact of HIV/Aids in Malawi and Corporate Governance Centre director Anthony Mukumbwa who made a presentation on corporate governance.
Nico General Insurance Company Limited sponsored the conference while Kingfisher Associates, CGU Insurance Limited, Nico Life Insurance Company Limited, Old Mutual, United General Insurance and Eagle Insurance Brokers either contributed to a luncheon for chief executives and guest speakers or sponsored conference materials and gifts for the speakers.
Later in the evening, IIM held an annual gala dinner and dance where best students in insurance examinations were rewarded.
According to Nkosi’s survey, the local insurance industry currently has 108 qualified insurers despite employing 647 staff and targets to have 308 qualified professionals in the next five years.
Caption: Hoping for a better future: A cross section of insurers during the conference.—Pic: Emmanuel Muwamba
Govt, NITL pocket Dairibord dividends
Aubrey Mchulu
Dairibord Malawi Limited on Thursday presented interim dividend cheques of K1.3 million each to government through the Privatisation Commission (PC) and National Investment Trust Limited (NITL).
Dairibord Malawi managing director Phillip Msindo said his company’s profits have grown this year as evidenced by the higher dividends paid compared to last year.
“This year’s dividend is 181 percent above last year’s and that is why we decided to handle it in a different way. Last year’s interim dividend was K2.7 million and this year’s interim dividend is K7.6 million,” he said during the presentation spiced by a cocktail party.
He said over the past three years, Dairibord has paid out K5 million total dividend in 2001, K7 million in 2002 and K11.1 million last year.
The company is owned 60 percent by Dairibord Zimbabwe, 20 percent each by Malawi Government and NITL—the country’s first collective investment trust. Msindo described it as an example of a cross-border joint venture between two African countries which, he said, is bringing out a win-win situation.
Dairibord started its operations on January 6, 1998 following the privatisation of Malawi Dairy Industry, taking over from the loss-making company and has since converted it into a profit making company.
In his remarks, PC executive director Maziko Sauti-Phiri said the K1.3 million interim dividend was a fruit of privatising public enterprises and the cheque will be passed on to Treasury.
“If government continued to own MDI it would have foregone this K1.3 million cheque and instead continue to subvent it but now it is gaining,” he said.
On his part, NITL representative Dr. Zach Chalira agreed with Sauti-Phiri that the ceremony symbolised the need for government to stop running businesses but leave them to the private sector.
“Government has no business to do business but to set a framework for business growth,” he said.
Chalira said NITL was set-up to assist Malawians to own public enterprises and currently there are about 600 Malawian shareholders in the trust.
Caption: Dairibord Malawi board member Elizabeth Chulu (R) presents the cheque to Sauti-Phiri. —Pic: Joseph-Claude Simwaka
Satanism creates debate
George Ntonya
The road traffic accident that killed 27 people on the spot at Linthipe III in Dedza district on August 6, 2004 has ignited wild rumours that the accident was the work of satanic worshippers.
Probably, for the first time in the country people are freer now to discuss Satanism — which is associated with weird occurrences and shrouded in top secrecy. Some people are even confessing publicly they practised Satanism at one point in their life.
The Roman Catholic Church sponsored Radio Alinafe of Lilongwe Diocese has for the past weeks been running an interview with a boy who claimed to have resigned from Satanism. The boy has been telling listeners how he and his fellow Satanists used to do bizarre things like drinking human blood and they conducted their rituals in the Indian Ocean at night.
Having listened to the boy one would see a thin line separating Satanism — worshipping of the devil from witchcraft. Witchcraft is the performing of magic to make bad things happen.
Although the boy never mentioned names in the radio interview, he claimed some of the respected Malawians, including some members of the clergy, practise Satanism. Some of them have become rich or popular because of Satanism, he added.
A female primary school teacher in Lilongwe [name withheld] threatened to deal with her debtor three months ago if he could not pay back her money by a set date.
“If you don’t give me my money by Thursday, you’ll see what will happen to you. For your information, I am Satanist,” the teacher threatened in a handwritten letter to the debtor. Ironically, her fellow teachers and neighbours know her as a senior member of one of the mainstream Christian denominations.
On August 15, 2004 The Sunday Times carried a letter in which the writer claimed that the Linthipe III road traffic accident was the creation of Satanists. He said that the Satanists were expected to hold a secret conference in Lilongwe City and were looking for human blood for their rituals. But the writer did not indicate how the Satanists would collect the blood.
Evangelist Mark Kambalazaza also attributed the mysterious attack on Blantyre Secondary School (BSS) pupils early this year to Satanism. Unknown assailants attacked the pupils at night while they were asleep, leaving some of them bruised. Some of the pupils ended up admitted to Queen Elizabeth Central Hospital (QECH).
Kambalazaza told The Nation of June 11, 2004 that Satanism is more powerful than witchcraft, saying that only special prayers [to God in the name of Jesus) could stop the mysterious attacks at the school.
Until the time of the Linthipe accident stories of Satanism in the country were isolated and people could hardly speak about it in public for fear of unknown ill fate. But the story is different now.
A girl who got admitted to Kamuzu Central Hospital almost the same time the Linthipe III accident took place attracted the attention of other patients when she claimed to be Satanist and linked the accident to Satanism.
Nurses who listened to the girl’s confessions refused to grant a news interview days after the girl had been discharged, saying they were afraid she would attack them mysteriously.
“I have heard a lot of weird things about Satanists so I do not want to say anything about this girl,” said one of the nurses, a few days after the girl was discharge.
Workers at the hospital said a Catholic nun offered to take the girl to a Sisters’ house to conduct special prayers for her but things did not work out.
Information sourced from the Internet indicates that Satanists believe that there is no heaven for the righteous or hell where sinners will roast or perish. Neither do they believe in the Buddha’s reincarnations, any myths of Judaism, Islam or Upanishad. “They are irrelevant and silly ideas”.
Longman dictionary of contemporary English describes Satan as the Devil, considered as the chief evil power or as God’s opponent. It also defines Satanism as the worshipping of the Devil.
A police officer who saw the letter by the teacher who claimed to be Satanist, doubted the authenticity of those who claim to be Satanists, saying real Satanists are likely to keep their acts under the carpet, the way witches or wizards do.
According to him, some people may claim to be Satanists simply to scare others who they would like to see intimidated.
Some information indicates that Satanists are different from Devil worshippers, although some Devil worshippers claim to be Satanists.
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