LILONGWE-(MaraviPost)-The National Oil company of Malawi Limited (NOCMA) on Sunday, September 29, 2024 dismissed media reports claiming that financial transactions has been made with the Ministry of Transport and Public works (MOTPW) on Sheikh oil deal.
NOCMA Chief Executive Officer Clement Kanyama told the news conference in the capital Lilongwe that the company is yet to issue a licence to the ministry of Transport for the oil deal.
Kanyama says NOCMA adhered to all single source procurement procedures in the Sheikh deal.
He added that no single source procurement rules in the deal were flouted.
NOCMA chief explained further that there is no any other transaction that has taken place, between NOCMA and Office of the Sheikh.
“NOCMA can confirm that no financial transactions have taken place between NOCMA and MOTPW under the proposed hospitality agreement,”said Kanyama.
“NOCMA embarked on seeking a fuel supplier who will be paid in Kwacha and yet to engage international finance institution to establish fuel import financing facilities,” Kanyama said.
He further said process of signing of hospitality agreement between NOCMA and Ministry of Public works the existence of an importers licence shall enable NOCMA to conclude hospitality agreement.
NOCMA CEO added that currently four international companies are supplying fuel in the country namely Camel oil, Addax, Augusta and Hass.
He therefore said both board of NOCMA and MERA directed that prior to signing of any possible supply contract a due diligence be carried out on the entity earmarked for receiving the Malawi kwacha and a draft contract shall require prior clearance by MERA.
