LILONGWE-(MaraviPost)-The Lilongwe Chief Resident Magistrate Court on Tuesday, January 7, 2025 committed to the High Court a financial related case involving former Reserve Bank of Malawi (RBM) governor Dr. Dalitso Kabambe, and six others.
Kabambe, who is also UTM President, Henry Mathanga, Leonard Kandoje, Leston Mulli, Joseph Khupe, Felton Mulli, and Justin Fredson Likhunya were arrested in 2021 in connection to loans granted to private companies among them Mulli Brothers Limited.
The move, the state argues, was against the RBM Act which prohibits lending to private entities or individuals.
The loans amounting to about US$5 billion have yet to be re-paid according to the state.
Lawyer representing Kabambe in the case, Fostino Maere, believes his client did not commit any crime adding they are ready to fight the state in court.
Maere argues that his client has nothing to do with this case as all accusations are baseless.