LILONGWE-(MaraviPost)-The Centre for Democracy and Economic Development Initiatives (CDEDI) has intensified pressure on government institutions, demanding urgent action over the controversial sale of the Amaryllis Hotel to the Public Service Pension Trust Fund (PSPTF), warning that public funds must be recovered without further delay.
Addressing the news conference on Friday, March 13, CDEDI Executive Director Sylvester Namiwa, the organisation has given the Reserve Bank of Malawi (RBM), Financial Intelligence Authority (FIA), Malawi Police Service through its Fiscal Police department a 48-hour ultimatum to begin recovering MK90 billion allegedly paid out in the disputed transaction.
CDEDI said the matter has now moved beyond investigations, insisting that the focus should be on swift recovery of the funds already paid to Yusuf Investments as part of the deal involving the Amaryllis Hotel.
The organisation made the remarks while responding to calls by Steven Malondera, chairperson of the Public Accounts Committee (PAC), who recently urged Malawians to assist with information regarding the controversial purchase.
While commending the PAC for conducting a public inquiry on the matter, CDEDI argued that the call for assistance sounded like a sign of helplessness instead of a firm demand for action from relevant state institutions.
According to CDEDI, Malawians have already rejected the transaction after revelations that the price of the hotel reportedly rose from K48 billion in 2023 to K128 billion in 2026, a move the organisation described as unjustifiable.
The organisation further said the increase in price raises serious concerns and cannot be defended by any explanations presented so far, especially after findings that surfaced during the PAC inquiry.
CDEDI has therefore urged the Reserve Bank of Malawi, as the regulator of financial institutions in the country, to trace all financial transactions that led to the payment of the K90 billion.
At the same time, the group has called on the Fiscal and Criminal Investigations departments of the Malawi Police Service to invoke provisions of the Penal Code related to abuse of office and arrest all those suspected to have been involved in the deal.
The organisation also argued that since most relevant documents surrounding the transaction are already in the public domain, the Anti-Corruption Bureau should focus its attention on other complex cases currently under investigation.
Among such cases, CDEDI mentioned issues involving the Greenbelt Authority, Eastbridge and immigration related investigations as matters that require deeper scrutiny.
Meanwhile, the organisation has also maintained its seven day ultimatum directed at Chief Justice Rizine Mzikamanda and Attorney General Frank Mbeta, demanding that they resign from their positions or risk being forced out.
CDEDI said it will soon report back to Malawians on the outcome of the ultimatum as well as the response from the state institutions it has tasked with recovering the funds.
The organisation insists that decisive action is necessary to restore public trust and ensure transparency and accountability in the handling of public resources.
Meanwhile, Public Accounts Committee (PAC) of Parliament is still probing on the matter.