* Serious allegations have been raised concerning corruption, money laundering, human trafficking, public procurement, members of the Cabinet, and the judiciary
* These matters demand careful, independent investigation — not silence, intimidation, or political spin
By Duncan Mlanjira
UTM Party President, Dalitso Kabambe has issued an open letter to President Arthur Peter Mutharika in which he raises red flags over a small number of people around him are seem to be acting in ways that threaten his administration’s leadership reputation and the Mutharika name.
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Kabambe maintains that his sentiments he writes “in the sincere hope” that the open letter reaches him “in the spirit in which it is intended — not as an attack, but as an appeal made out of concern for Malawi and for the legacy [President Mutharika] have worked so hard to build’.
“I would have preferred to speak with you in person,” he says. “However, I fear that circumstances — and those who may not welcome an honest conversation — could make that difficult.
“Your Excellency, I have long believed you to be a good man. That is why I feel compelled to speak plainly. I am deeply concerned that a small number of people around you may be acting in ways that threaten the reputation of your leadership and the Mutharika name.
“Serious allegations have been raised concerning corruption, money laundering, human trafficking, public procurement, members of the Cabinet, and the judiciary.
“These matters demand careful, independent investigation — not silence, intimidation, or political spin.
“When people raise concerns about wrongdoing, they should not automatically be branded enemies of you or your administration.
“That kind of narrative serves no one except those who may wish to hide their own conduct. Malawians deserve to be heard. Many call you ‘Adadi’ with affection because of the kindness and grace they have seen in you over the years.
“Their concerns should not be dismissed or used against them. Your Excellency, I respectfully urge you to act decisively.
“Read the riot act to anyone who is abusing public trust, and ensure that allegations are investigated impartially, whoever they may implicate.
“No individual should be above the law, and no office should be used to shield wrongdoing.
“The three arms of government must be protected, not weakened by allegations of misconduct or by efforts to silence those who speak out.”
Kabambe contends that “Malawians are facing serious hardships: shortages of fuel and gas, unreliable electricity, foreign-exchange pressures, and the rising cost of daily life”.
“They also need reassurance that corruption and human trafficking will be confronted with resolve. Please speak directly to the nation.
“Acknowledge these challenges, explain what is being done, and demonstrate through action that those responsible will be held accountable.
“I know that speaking openly may bring attacks or accusations. Still, the truth must be spoken — with care, fairness, and courage.
“Malawi is greater than any one person, party, or administration. Its laws, institutions, and people must come before the interests of those who would exploit them.
“The legacy you and your brother [Bingu Wa Mutharika] have built should not be put at risk by the actions of others.”
Kabambe further emphasises that he wishes President Mutharika well and prays that his open letter reaches him “through the hands of a well-meaning Malawian and is received as an appeal to protect the country and the legacy [he holds] dear”.
“The truth, pursued with integrity, can help set us free,” concludes Kabambe.
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On September 19, after the Bankers Association of Malawi (BAM) engaged President Mutharika to underscore the private sector’s commitment i working with government to build a prosperous country, Kabambe — a former Reserve Bank of Malawi (RBM) Governor — posted on his Facebook account that Malawi is finding itself in the “throes of a severe foreign exchange crisis that continues to deepen daily”.
“The situation is arguably the worst protracted crisis in recent memory, with devastating impacts on both small and large-scale businesses.
“Banks, the supposed pillars of financial stability, are caught up in a web of contradictions and constraints that question their credibility — and willingness — to serve the nation effectively.
“The reality is stark: banks can only offer a maximum of US$200 to individual customers. This paltry figure is a slap in the face of entrepreneurs and business owners who rely on access to foreign currency for their operations.
“The limited disbursement has effectively crushed many businesses, stifling economic activity and growth. Adding to the crisis, banks are sitting on Letters of Credit (LC) obligations that they cannot liquidate.
“Yet, they remain silent, unable — and perhaps unwilling — to tell the truth to the President.
“Why? Because the truth is inconvenient and potentially damaging to their interests. Banks do not have money of their own; they hold deposits from their customers.
“They cannot, and should not, claim to finance sectors they know are crippled by macroeconomic instability and hostile conditions. The notion that they can or will do so is a dangerous illusion.
“Commercial banks are among the most profitable entities in Malawi, making billions in profits for their shareholders.
“Their primary clients are the government and large corporates, which often enjoy preferential treatment.”
The former RBM Governor maintained that the “idea that banks will willingly ‘finance’ critical sectors of the economy in this hostile economic environment is naive”.
“Banks operate on the principle of maximising profits — an objective that often conflicts with national economic needs. Moreover, bank CEOs are driven by competition and the desire to demonstrate their managerial prowess, often through soaring profits and hefty bonuses.
“Their focus is on shareholder returns, not necessarily on national development or the well-being of the broader economy.
“To believe that engagement with these financial giants will yield the necessary support for Malawi’s economic recovery is to ignore the fundamental incentives that drive their behavior.”
On inflation, Kabambe highlighted that “there is a clear disconnect between what is being praised and the reality on the ground”.
“Food inflation, has tappered, yes, but it is seasonal and will begin to pick up shortly as the lean period sets in.
“Core inflation, a key driver to household and business costs has been rising — from 24% in September last year to 33% now. This persistent inflation hike erodes the purchasing power of ordinary Malawians and undermines businesses.”
Kabambe further faulted that “praising low-interest rates when depositors are losing value on their savings is a disservice to ordinary citizens”.
“When interest rates are below core inflation, it means that every depositor looses value in real terms for making savings — a dangerous scenario in any country.
“As a country, we have lived under this spell for all this long — an insult to those who rely on deposits for their livelihood. Conversely, high borrowing costs, especially on government debt, perpetuate a vicious cycle that hampers economic growth.
“The government’s heavy borrowing, often at unfavourable rates, leaves little room for productive investment.”
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Kabambe thus stated that “it is evident that [President Mutharika] has been surrounded by advisors who tell him what he wants to hear rather than what he needs to hear”.
“This silencing of dissent and honest critique hampers effective policymaking. Malawi needs leaders who are willing to confront uncomfortable truths and challenge entrenched interests — whether in banking, politics, or elsewhere.
“The current approach risks turning Malawi into a nation where truth is sacrificed for political convenience. Instead, we need objective analysis, bold decisions, and a recognition that the country’s economic health depends on honesty, transparency, and a willingness to face reality head-on.
“Malawi’s economic crisis is not insurmountable, but it requires truthful leadership and a clear-eyed understanding of the challenges.
“Banks, government, and advisors must abandon self-interest and political expediency. The nation deserves leadership that speaks the truth — no matter how uncomfortable — and acts decisively to restore stability and growth.”
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