Tag Archives: foreign currency

Two Mwanza women fined for illegal possession of foreign currency

MWANZA-(MaraviPost)-The Mwanza First Grade Magistrate Court this week fine two women for illegal possession of foreign currency.

The suspects identified as a 39-year old Elizabeth Maele 39 and Kalitina Cathy Banda, 50 who were fined to pay a fine of MK100,000.00 and MK50,000.00 respectively.

The two women were arrested at Mwanza boarder post after they were found with South African Rands and failed to produce valid documents for possessing the said cash.

According to Mwanza police publicist Edwin Kaunda disclosed that Elizabeth had 24,000 rands while Kalitina had 6200 rands.

“The duo appeared before Mwanza FGM Court where they pleaded guilty to the charge of Illegal possession of foreign currency contrary to section 25(1) of the Exchange Control Act,” said Kaunda

Elizabeth Maele comes from Loss village Traditional Authority (T.A) Nkalo in Chiladzuru while Katilina Cathy is from Mfunde village TA Makhuwira in Chikwawa.

Indian Businessman Arrested at KIA for Attempting to Externalize Forex

Iqbar-Sodagar had 622,820 USA Dollars ,2 015 British Pounds and 15,860 Euros

A 38 year-old Malawian businessman of Indian Origin was arrested on Friday December 30,2016 at Kamuzu International Airport (KIA) for attempting to externalize foreign currency.

The money in his possession include 622,820 USA Dollars ,2 015 British Pounds and 15,860 Euros which after exchanging them into Malawi Kwacha will be almost Mk540 Million. Continue reading Indian Businessman Arrested at KIA for Attempting to Externalize Forex