Category: Business

Amaryllis Hotel in Blantyre  * Acting ACB Director Gabriel Chembezi discovered to have represented one of the parties involved in the very transaction the ACB was purportedly investigating  * MLS demanded clarification regarding Chembezi’s role in the investigation and his overall personal involvement * To date, the Bureau has not responded to the Malawi Law Society’s letter, nor has it provided the requested clarification  * MLS encourages members of the Pension Fund to demand accountability and transparency from the…

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* This is a year after a Chinese national was also nabbed in Lilongwe for the same offence in collaboration with three Malawians  * As Limbe police recover 195.6kgs of copper and 364.2kgs of aluminium while the Chinese national in Lilongwe was found with approximately 18 tonnes of copper wires By Duncan Mlanjira While a case in Lilongwe last year seemed to be one in exceptional isolation, in which Chinese national Xu Hongxiang was arrested after being found with…

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  * Five days before the malawi-law-society-petitioned-the-attorney-general- for an immediate suspension of the proposed acquisition, pending a full and transparent review  * The Board proceeded with the transaction well-knowing that the Fund will be in breach of the prudential limits  * The Registrar of Financial Institutions has since ordered the PSPTF to rescind the sale agreement and censures it for disobeying its direction made in November By Duncan Mlanjira In his capacity as the Registrar of Financial Institutions, Reserve…

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* Also investigate the full record sorrounding the withdraw of the sale transaction made by the Public Service Pension Trust Fund (PSPTF) Board on January 17, 2024  * Examine compliance with prudential regulatory warnings issued on December 23, 2025 and January 6, 2026; former-rbm-governor-mafuta-mwale-raised-profound-financial-regulatory-red-flags-on-proposed-sale-of-amaryllis-hotel-at-exorbitant-k148-billion/ * Recommends an immediate stay on any further financial disbursement pending a comprehensive forensic audit into valuation methodology, advisory independence and fudiciary compliance  By Duncan Mlanjira The furore sorrounding the proposed sale of Amaryliss Hotel…

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* Proceeding with the transaction would be inconsistent with sound pension fund management principles and expose members to undue financial risk  * From a prudential and regulatory perspective, the proposed transaction is likely to breach investment limits under the Financial Services (Investment Management of Life Insurers and Pension Funds) Directive, 2025  * And result in serious liquidity mismatch and heightened risk warn of regulatory breaches and systemic financial risk that could destabilize the pension sector By Duncan Mlanjira  In…

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