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How Malawi Leaf Limited lost billions

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 fields in Kasungu. Picture by ILO

Admarc rebuffs AHL over retrenchment plans

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 to pay salaries of its workers for four months triggering waves of protests. However, AHL proceeded to obtain a K6 billion bail out from Admarc to be used in servicing all outstanding debts as well as to embark on restructuring process.

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