{"id":64949,"date":"2024-11-13T22:50:52","date_gmt":"2024-11-13T22:50:52","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/is-illovo-sugar-malawi-plc-venturing-in-scrap-metal-business"},"modified":"2024-11-13T22:55:37","modified_gmt":"2024-11-13T22:55:37","slug":"is-illovo-sugar-malawi-plc-venturing-in-scrap-metal-business","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/is-illovo-sugar-malawi-plc-venturing-in-scrap-metal-business","title":{"rendered":"Is Illovo Sugar Malawi Plc venturing in scrap metal business?"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>The recent decision by Illovo Sugar Malawi Plc to bypass small and medium-sized enterprises (SMEs) and sell scrap metals directly to recycling companies has raised concerns from the Chamber for Small and Medium Businesses Association (CSMBA), with its Executive Secretary James Chiutsi leading the charge of discontent.<\/p>\n

Chiutsi has expressed disappointment over the move, accusing the company of undermining local SMEs, especially those in communities surrounding Illovo\u2019s Nchalo and Dwangwa estates. Previously, Illovo had provided business opportunities to SMEs by allowing them to purchase scrap metal from its estates, a practice that directly benefitted local businesses. However, Illovo\u2019s recent move to sell scrap metals directly to larger recycling companies in Limbe, Blantyre has sparked fears that it could lead to the demise of these smaller businesses.<\/p>\n

\u201cWe plead with Illovo to reconsider this decision,\u201d said Chiutsi. \u201cInstead of terminating SME contracts, they should expedite investigations into the alleged irregularities and deal with the issues directly. It\u2019s too punitive to take such a drastic action before concluding a proper investigation.\u201d<\/p>\n

Illovo\u2019s managing director, Lekani Katandula, has defended the decision, stating that the company suspended contracts with SMEs at Nchalo after detecting irregularities. Chiutsi, however, has questioned the reasoning, calling it an overreach and urging the company to show more consideration for the local businesses that rely on such contracts for survival.<\/p>\n

The controversy is further compounded by concerns over the potential tax implications of Illovo\u2019s new business venture. One anonymous tax analyst expressed uncertainty over how Illovo plans to manage taxes related to its direct involvement in the scrap metal industry, which could be seen as a new and unrelated business stream beyond its core operations of sugar production.<\/p>\n

Another angle to the issue is the alleged involvement of a senior manager of Indian descent at Nchalo, whose role in pushing for the decision has been questioned. Sources suggest that the manager is promoting the shift towards dealing directly with recycling companies in Blantyre, many of which are reportedly owned by Indian nationals.<\/p>\n

As the debate rages on, Chiutsi has called for Illovo to reconsider its position, highlighting the company\u2019s responsibility as a corporate citizen to support local businesses and ensure that SMEs are not unfairly excluded from opportunities.<\/p>\n

The future of Illovo\u2019s business relationship with local SMEs now hangs in the balance, and the company\u2019s response to the calls for reconsideration could have lasting implications for its reputation and its impact on the communities it operates in.<\/p>\n

For More News And Analysis About Malawi Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. The recent decision by Illovo Sugar Malawi Plc to bypass small and medium-sized enterprises (SMEs) and sell scrap metals directly to recycling companies has raised concerns from the Chamber for Small and Medium Businesses Association (CSMBA), with its Executive Secretary James Chiutsi leading the charge of discontent. Chiutsi has expressed disappointment over […]<\/p>\n","protected":false},"author":84,"featured_media":64948,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234],"class_list":["post-64949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-malawi"],"yoast_head":"\nIs Illovo Sugar Malawi Plc venturing in scrap metal business? - Malawi<\/title>\n<meta name=\"description\" content=\"The recent decision by Illovo Sugar Malawi Plc to bypass small and medium-sized enterprises (SMEs) and sell scrap metals ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/is-illovo-sugar-malawi-plc-venturing-in-scrap-metal-business\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Illovo Sugar Malawi Plc venturing in scrap metal business?\" \/>\n<meta property=\"og:description\" content=\"The recent decision by Illovo Sugar Malawi Plc to bypass small and medium-sized enterprises (SMEs) and sell scrap metals ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/is-illovo-sugar-malawi-plc-venturing-in-scrap-metal-business\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-13T22:50:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-13T22:55:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2024\/11\/sm_1731525891.843452.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"405\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/is-illovo-sugar-malawi-plc-venturing-in-scrap-metal-business#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/is-illovo-sugar-malawi-plc-venturing-in-scrap-metal-business\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Is Illovo Sugar Malawi Plc venturing in scrap metal business?\",\"datePublished\":\"2024-11-13T22:50:52+00:00\",\"dateModified\":\"2024-11-13T22:55:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/is-illovo-sugar-malawi-plc-venturing-in-scrap-metal-business\"},\"wordCount\":437,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/is-illovo-sugar-malawi-plc-venturing-in-scrap-metal-business#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2024\/11\/sm_1731525891.843452.jpg\",\"keywords\":[\"Malawi\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/is-illovo-sugar-malawi-plc-venturing-in-scrap-metal-business#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/is-illovo-sugar-malawi-plc-venturing-in-scrap-metal-business\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/is-illovo-sugar-malawi-plc-venturing-in-scrap-metal-business\",\"name\":\"Is Illovo Sugar Malawi Plc venturing in scrap metal business? 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