Category: National

* As indicated in Malawi Law Society’s comprehensive evaluation of the sale for Parliamentary Public Accounts Committee’s scrutiny * The Office of the President & Cabinet (OPC) forms the third cohort of PSPTF’s licensed Trustees Board of Trustees * SPC Zamba is alleged to have stated that as the highest office it had received reports suggesting the PSPTF might be sued for breaching the acquisition agreement * After the PSPTF Board cancelled the deal following recommendations presented by Continental…

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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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