Mathews Chikaonda bids PCL shareholders farewell


Press Corporation Limited Chief Executive Officer, Mathews Chikaonda, on Wednesday bade farewell to the company’s shareholders during the conglomerate’s 32nd Annual General Meeting held in Blantyre.

The former Reserve Bank of Malawi governor and finance minister said he would leave PCL with his head high having significantly changed the accounts book for the dual listed conglomerate.

In an interview on the sidelines of the AGM, Chikaonda boasted to have significantly grown income and profits for the business.


In 2002, when Chikaonda joined PCL, the business recorded a profit after tax of K531 million, while this year the business posted a post tax profit of K12.2 billion.

Within the 14 year period, shareholder wealth has equally grown from K4 billion to K90 billion.

“I walk out of Press Corporation with my head held high despite some distortions that one might have heard in the media,” said Chikaonda.


He downplayed fears that his moving might have an impact to the business as the firm has implemented “a serious succession plan” implemented to ensure continuity.

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