Category: Business

Amaryllis Hotel * Our projection valued the property at K36.7 billion, significantly lower than the K48.7 billion estimated by the buyer and seller—Continental Asset Management * Inconsistencies and unacceptable practice have emerged raising questions about the transaction’s integrity—PAC chairperson Steve Malondera By Patience Longwe, MANA Continental Asset Management has revealed to the Public Accounts Committee (PAC) of Parliament that the Public Service Pension Trust Fund faces a daunting 36-year wait to recover the K128 billion spent on purchasing Amaryllis…

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* FDH Bank recommended that the hotel should be sold at around K30 billion, based on their 2023 assessment, but the hotel was ultimately sold for K128 billion * The transaction wasn’t particularly profitable compared to the investment made—FDH Bank Managing Director Noel Mkulichi By Patience Longwe, MANA & Duncan Mlanjira, Maravi Express The Public Accounts Committee (PAC) of Parliament has begun investigating the proposed purchase of Amaryllis Hotel by the Public Service Pension Trust Fund and today, it…

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* Nationwide truck overload surveys currently underway will provide baseline data that will inform the new strategy and help authorities identify corridors where overloading is most prevalent * As the Roads Authority observes that truck overloading is contributing to the premature deterioration of roads across the country By Arthur Kaludzu MANA The Directorate of Road Traffic & Safety Services (DRTSS) and the Roads Authority (RA) — through the Southern Africa Trade and Connectivity Project (SATCP), is reviewing the country’s…

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*  Can a car — and one car for that matter — that is lebelled ‘ACB Surveillance Unit’ fight corruption? * Careless way of surveillance, this will let the corrupt guys know when they’re coming — it’s another corruption influencer in town * How much did this launch cost? Was it necessary for people to leave their work posts and attend the launch of a single landcruiser? Was this justifiable? By Duncan Mlanjira The Anti-Corruption Bureau (ACB), under acting…

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* Following the case of Portuguese construction company Mota-Engil that challenged MHRC’s decision to assess its compliance with the ATI Act * The Court found that MHRC’s decision to assess Mota-Engil was neither illegal nor unreasonable in the Wednesbury sense By Duncan Mlanjira The High Court ruled on Friday, March 6, 2026 that the Access to Information Act (ATIA) applies to private companies that are undertaking Malawi Government contracts. The judgement follows the case of Portuguese construction company, Mota-Engil,…

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