BLANTYRE-(MaraviPost)-UTM president Dalitso Kabambe has called for a thorough and independent audit of Malawi’s foreign-exchange allocations, saying the country’s forex crisis requires greater transparency and accountability.
Kabambe says in a Facebook post that the shortage of foreign exchange is affecting businesses importing essential goods, hospitals and public institutions while ordinary Malawians are bearing the impact through rising prices and reduced economic opportunities.
He says authorities must establish who receives the largest forex allocations, which companies and individuals benefit from them, and whether the allocations are made fairly, transparently and in the national interest.
“If there are cartels operating through banks or on the streets, they must be investigated and exposed—with credible evidence, not rumours,” says Kabambe.
He describes foreign exchange as a national resource that should not become the preserve of a few powerful individuals and companies while the wider population struggles.
Kabambe says the public deserves clear information on who receives forex, how much is allocated, how it is used and whether the relevant rules are followed.
The former Reserve Bank of Malawi (RBM) Governor also links forex shortages to challenges facing the Electricity Supply Corporation of Malawi (ESCOM) and water boards, but says the problems affecting the institutions cannot be attributed to foreign exchange alone.
According to Kabambe, corruption and inflated procurement costs can also weaken public institutions, with overpriced goods and services resulting in the waste of public funds and poor service delivery.
He has therefore called for procurement processes at ESCOM and other public institutions to be open to scrutiny, free from political interference and accompanied by consequences for wrongdoing.
Kabambe says his call is not an attack on businesses, banks or public officials but a demand for evidence, transparency and accountability.
He has also urged anyone with credible information about alleged forex abuse or procurement corruption to report it through lawful channels and provide documents or other verifiable evidence.
He says allegations should be investigated fairly and that those found responsible should face the law regardless of their positions or connections.
The economist has further urged Malawians to stop defending wrongdoing based on political or personal affiliations, saying such conduct protects those who exploit public resources.
“Malawi cannot repair its economy while public resources disappear into hidden deals and inflated contracts,” he says.
Kabambe has further called on the government and relevant authorities to conduct a transparent forex audit, strengthen procurement oversight and support evidence-based investigations into alleged financial abuse.
Leave a Reply