Toyota Malawi on 20th of March said the global financial crisis which has hit America and Europe will eventually hit the country at one point Speaking during a press briefing at the company's premises acknowledging the awards the company has received for the year 2008 sales performances, Toyota Malawi Managing Director Rosemary Mkandawire said it is only a matter of time before Malawi is hit by the recession.

"There is a time log, but we do not know when. I believe we will be affected as we have seen some manufacturing companies have been hit hard internationally. "As Toyota Malawi we are monitoring the situation closely and we are working hard so that if we happen to be affected we should not lose our employees like is the case in the Western countries," said Mkandawire. She further said this is the time to observe financial discipline in companies and as a country by avoiding over spending. According to Mkandawire most companies performed well last year but they could have done far much better had it not been for the global crisis. However, due to Toyota Malawi's excellent sales performance in 2008, the company has received four sales awards.

Toyota Malawi National Sales Manager Richard Makondi said the coming in of the awards will encourage the company to commit itself. "The awards have come at a very difficult time of recession in the world and this will give us the heart and drive to achieve more," said Makondi.

He further thanked the customers who he said contributed to the company' s success. According to Makondi the awards include a gold award in Africa from Toyota Motor Corporation in Japan after amassing 1533 units sales for Toyota Malawi and the motor industry as a whole. Apart from the gold, they also received awards from Toyota Tusho Africa (headquarters) and ToyotaTsusho Corporation (shareholders) fro record sales and also from the manufacturers Toyota Motor Corporation.

Courtesy of The Daily Times Newspaper (22/03/09)

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