Tag Archives: Finance Minister Joseph Mwanamvekha

corruption, Malawi

Malawi finance Mwanamveka allegedly caught in forex black market trading

MaraviPost

….Takes allegations lightly….

BLANTYRE-(MaraviPost)-Finance Minister Joseph Mwanamveka is facing mounting scrutiny after failing to directly address detailed allegations by social media activist and lawyer Alex Kamangila linking him to black market foreign exchange dealings.

Kamangila alleges that Mwanamveka handled millions of dollars outside formal banking systems, including an alleged US$8 million transaction, raising serious questions about abuse of access to scarce foreign currency.

While no public evidence has yet been produced, the claims have struck a nerve in a country grappling with a deep forex crisis.

Mwanamveka’s response has been swift but narrow.

“I don’t comment on gossip and ill intentioned political propaganda. It is unhelpful and time wasting,” he said, offering a blanket dismissal without engaging the substance of the allegations.

That response has left a gap—one that is quickly being filled by public suspicion.


The core issue is not just the denial, but the absence of detail.

Mwanamveka has not explained whether such transactions are possible within his office, whether he had any contact with the alleged deals, or why the specific figures mentioned should be dismissed outright.

In a strained economy where businesses are failing to access forex through official channels, the suggestion that large sums may be circulating outside the system is explosive.

For many, the allegations align with lived realities of scarcity, making the minister’s silence on specifics more damaging than the claims themselves.

The situation is further complicated by political undertones.

Mwanamveka is a senior figure in the Democratic Progressive Party (DPP) and is widely viewed as positioning himself for future leadership, potentially succeeding former president Peter Mutharika.

This has turned the controversy into more than just an economic issue—it is now a test of political credibility.

Additional claims that the minister is backed by coordinated social media voices defending his image—though unproven—are reinforcing perceptions of a carefully managed public narrative rather than open accountability.

At this stage, three facts stand out: serious allegations have been made, they have not been backed by verifiable evidence, and the minister has not provided a detailed rebuttal.

That combination is keeping the story alive.

For Mwanamveka, the risk is clear. A simple dismissal may protect him politically in the short term, but without directly confronting the claims, it leaves him appearing unprepared and exposed in the face of a fast-moving public controversy.

In the current climate, where trust in institutions is fragile and economic pressure is high, perception is hardening quickly.

And right now, the perception is that the minister has not fully answered the case against him.

corruption, Malawi

Is Finance Minister Mwanamvekha involved in Amaryllis Hotel purchase?

MaraviPost

BLANTYRE-(MaraviPost)-A former financial expert at Treasury says people must first understand the public pension funds management and transaction processes before implicating certain individuals in the controversial MK128.7 Billion Amaryllis Hotel deal.

He was reacting to the Human Rights Defenders Coalition (HRDC)’s demands for President Peter Mutharika to fire Finance Minister Joseph Mwanamvekha and other two senior government officials.

Speaking on strict anonymity, the expert argues that the Public Pension Fund Trust is an autonomous entity with its board of trustees, management, and bank.

He further argues that the Fund’s investments and related decisions are done by the Board of Trustees and independent investment managers.

“Section 60 of the Pension Act 2023 says that the Fund rules of the pension fund should not permit a trustee to be subject to any direction or order by any other person in exercise of the trustee’s power in relation to the fund,” he says.

President Mutharika supported the ongoing parliamentary inquiry on the hotel purchase and warned not to shield anyone involved in any corrupt dealings.

This coming week, the committee is expected to meet former Secretary to the President and Cabinet (SPC) Colleen Zamba and Attorney General (AG) Frank Mbeta.

Business

Customs plays vital role in Malawi’s economic transformation

Jones Gadama

LILONGWE-(MaraviPost)-International Customs Day, celebrated annually on January 26, is a significant event that highlights the importance of customs authorities in facilitating international trade, ensuring security, and generating revenue for governments.

In Malawi’s context, this day is particularly relevant as the country strives to achieve its development goals and improve the welfare of its citizens.

The theme for this year’s International Customs Day emphasizes the role of customs in promoting sustainable development and fostering economic growth.

For Malawi, a landlocked country heavily reliant on imports and exports, efficient and transparent customs procedures are crucial for facilitating trade and reducing transaction costs.

Finance Minister Joseph Mwanamvekha’s reiteration of the government’s commitment to fighting corruption and promoting transparency in customs operations is a welcome move.

Corruption and inefficiencies in customs clearance processes have long been a challenge for Malawi, deterring investors and undermining revenue collection.

The government’s efforts to promote accountability and transparency in customs operations, as highlighted by Mwanamvekha, are essential for improving the business environment and attracting investment.

By ensuring that customs procedures are clear, efficient, and free from corruption, Malawi can increase its competitiveness and promote economic growth.

The significance of International Customs Day in Malawi lies in its potential to raise awareness about the importance of customs modernization and reform.

The day serves as an opportunity to reflect on the progress made in strengthening customs operations and to identify areas that require improvement.

One of the key challenges facing Malawi’s customs authority is the need to invest in modern technology and infrastructure to enhance efficiency and effectiveness.

The adoption of electronic customs systems, for instance, can help reduce clearance times, increase transparency, and minimize opportunities for corruption.

The Malawi Revenue Authority (MRA) has made efforts to modernize its operations, including the implementation of an electronic customs clearance system.

However, more needs to be done to ensure that the system is fully operational and that all stakeholders are adequately trained to use it.

Another critical aspect of customs operations in Malawi is the need for capacity building and training for customs officials.

The MRA should prioritize training programs that equip officials with the skills and knowledge required to effectively manage customs procedures and combat corruption.

International Customs Day also highlights the importance of regional integration and cooperation in promoting trade and economic growth.

Malawi is a member of the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA), both of which have protocols aimed at facilitating trade and customs cooperation among member states.

To fully benefit from these regional initiatives, Malawi needs to strengthen its customs operations and ensure that they are aligned with regional standards and protocols.

This includes implementing the SADC Protocol on Trade and the COMESA Customs Union, which provide for the removal of trade barriers and the harmonization of customs procedures.

International Customs Day serves as an important reminder of the critical role that customs plays in promoting economic development and facilitating trade.

For Malawi, the day highlights the need for continued efforts to strengthen customs operations, promote transparency and accountability, and invest in modern technology and infrastructure.

As the country strives to achieve its development goals, efficient and effective customs procedures will be essential for attracting investment, promoting trade, and generating revenue.

The government’s commitment to fighting corruption and promoting transparency in customs operations is a positive step, and it is hoped that this momentum will be sustained in the years ahead.

The importance of International Customs Day in Malawi cannot be overstated.

It is a day to reflect on the progress made in strengthening customs operations and to identify areas that require improvement.

It is also an opportunity to raise awareness about the importance of customs modernization and reform, and to promote regional integration and cooperation in promoting trade and economic growth.

In the context of Malawi’s development agenda, International Customs Day is a significant event that highlights the need for continued efforts to strengthen customs operations and promote economic growth.

As the country moves forward, it is essential that customs operations are given the attention they deserve, and that the necessary resources are allocated to ensure their effectiveness.

Ultimately, the success of Malawi’s development efforts will depend on the ability of its customs operations to facilitate trade, promote transparency and accountability, and generate revenue for the government.

International Customs Day serves as a reminder of the importance of this critical aspect of the country’s economic infrastructure.

Business

Malawi Government to introduce inheritance tax above MK20 million

MaraviPost

BLANTYRE-(MaraviPost)-Malawi Government will introduce an inheritance tax, a tax that will apply to wealth people receive from someone who has died. This includes money, land, houses, and other valuable property.

Under this proposal, if a parent, relative, or benefactor dies and leaves you an inheritance, government will tax part of that inheritance.

The Minister of Finance Joseph Mwanamvekha however disclosed that the tax will not apply to everyone.

The tax will only apply to inheritances above K20 million will be taxed.

“Anything below MK20 million will be exempt and will not attract any inheritance tax,”

For inheritances that exceed the threshold, government intends to charge an inheritance tax rate of 30 percent, applied only to the amount above K20 million.

Inheritance tax is not common worldwide, but it exists in a few countries, including the United Kingdom, France, Japan, and South Africa.

Finance Minister Mwanamvekha is on nationalwide budget consultation session this week for 2026/25 Fiscal Plan.

Business, Malawi

“Chakwera’s State House ate MK67bn like tomato in six months without scrutiny”-Finance Minister Mwanamveka

Dorica Mtenje

LILONGWE-(MaraviPost)-Minister of Finance Joseph Mwanamvekha on Friday told the August House that the Malawi Congress Party (MCP)–led administration had spent the entire MK67 billion allocated for State House operations and went on to borrow additional funds without adequate oversight.

Presenting the 2025/2026 Mid-Year Budget Review Statement before Parliament, Mwanamvekha told legislators that the spending patterns under the previous financial year raised “serious concerns about fiscal discipline and transparency”.

According to the minister, the State House exceeded its approved budget ceiling, a development he said placed unnecessary pressure on the national purse.

“The K67 billion meant for State House was fully exhausted, and more money was borrowed without proper scrutiny,”

“Calling for tighter controls and clear accountability mechanisms in government departments,”Mwanamvekha said,

Business, Development

TNM boss Pens Finance Minister on Mobile Money Tax

Maravi Post Reporter
TNM Plc Chief Executive Officer Michel Buitelaar
TNM Plc Chief Executive Officer Michel Buitelaar has officially written Finance Minister Joseph Mwanamvekha to express concern over his proposal to charge 1% on mobile money transactions

In a letter that Maravipost has seen, TNM has raised a number of concerns, chief among them being that the tax would stifle growth of mobile money and with it the economy as cost of mobile money would resultantly soar by 25 percent, making it unaffordable to majority of Malawians in the predominantly unbanked rural areas.

Buitelaar said the tax contradicts the government’s government’s objective of deepening financial inclusion. Mobile money provides the real alternative to financial transaction through transfers for over 70 percent of Malawians who do not have a bank account.

“This tax will slow down Malawi’s economic development. This proposed tax’s contradiction to the government’s objective – to create financial inclusion – is regrettable. [It] is equally non-aligned with the vision and recommendations of international bodies such as the World Bank and the GSM Association. The Consumers Association of Malawi (CAMA) and several other voices in Malawian society do not support the tax either,” wrote Buitelaar.

He said mobile money usage remained far below 50 percent and wondered why government had decided to curtail its growth by imposing a tax without thorough consultation with operators and other key stakeholders.

Buitelaar also warned of severe consequences to the economy as a result of the tax such as curtailing potential growth in revenue collection by government and increasing financial crimes through fraud.

To highlight why the 1 % tax would be a burden and punitive, Buitelaar said the mobile communications sector was already subjected to taxes that are considerably higher than for other sectors of the economy.

“We experience excise tax, withholding tax on commissions, income tax, PAYE, TEVET levy, and VAT. In 2018, TNM contributed 29% of its sales in different forms of tax, to central and local governments, as well as to MACRA. This amounted to MK 34 billion. In 2018, Mpamba contributed more than MK 200 million to corporate social investments,” he said.

The CEO said Malawi would become a pariah as most other African countries do not have such tax on mobile money or have had it removed. “Where such taxes were introduced, they were removed shortly after introduction, or severely reduced,” he said.

Several quarters, including the Consumers Association of Malawi (CAMA) are against the proposed mobile money tax.