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Illovo Malawi forecasts positive business outlook
November 30, 2020 / Donata Mpochela
Sugar group Illovo Malawi has forecast a positive business outlook owing to reforms it is undertaking at its Nchalo and Dwangwa sugar factories, and predicted normal weather patterns.
In its audited financial statements for the year ended August 31, 2020 signed by its Chairman Gavin Dalgleish and MD Lekani Katandula, Ilovo says the continuing positive effects of the Nchalo agricultural recovery plans, the ongoing structural changes within the agronomy sections at both estates, together with a return to more normal weather patterns have contributed in creating buoyant prospects for its business.
It says another positive attribute is the continuing improvements in Electricity Generation Company (EGENCO) electricity supply coupled with the ongoing focus on grower sustainability and viability.
Illovo says: “All we want is to continue to impact positively on the overall agricultural performance on both own and smallholder farmer operations.”
“In terms of milling operations, both Dwangwa and Nchalo factories will continue to address plant operational and performance parameters to build on the good work presently underway in terms of milling capacity and reliability.”
On the commercial front, Illovo says it will continue its various initiatives in the local direct consumption market and extend delivery footprint to the wider consumer market supported by an ongoing focus on the route to consumer strategy including affordability, quality and warehousing and logistics.
“Sugar exports, into very challenging regional and deep water markets, compounded by the Covid-19 related logistical challenges, will continue to be an area of focus for the commercial teams who will strive to optimize value in every ton of sugar sold and will develop markets to fully exploit all revenue growth opportunities,” reads the statement.
It, however, says the country’s economic environment including inflation, exchange and interest rate fluctuations together with the internal debt levels of the company, exacerbated by effects of Covid-19 pandemic will continue to have marked effect on the overall business profits.
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Rehabilitation:
The establishment of a stable and self-sustaining ecosystem, but not necessarily the one that existed before mining began. In many cases, complete restoration may be impossible, but successful remediation, reclamation, and rehabilitation can result in the timely establishment of a functional ecosystem.
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Remediation:
The cleanup of the contaminated area to safe levels by removing or isolating contaminants. At mine sites, remediation often consists of isolating contaminated material in pre-existing tailings storage facilities, capping tailings and waste rock stockpiles with clean topsoil, and collecting and treating any contaminated mine water if necessary.
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