Tag Archives: Joseph Mwanamveka Minister of Finance

corruption, Malawi

Whistleblower lawyer Kamangira alleges “Mwanamvekha, Mbeta, Chikapa as Amaryllis Hotel purchase beneficiaries”

MaraviPost

BLANTYRE-(MaraviPost)-Fresh revelations have emerged surrounding the controversial sale of the Amaryllis Hotel in Blantyre, with lawyer Alexious Kamangira alleging that two senior government ministers benefited from the transaction.

Kamangira claimed that Minister of Finance Joseph Mwanamvekha and Minister of Sports Youth and Culture Alfred Gangata are among individuals connected to the deal involving the luxury hotel.

Speaking on Saturday afternoon, the lawyer also mentioned three other figures he says are linked to the matter.

These include Attorney General (AG) Frank Mbeta, Chief Registrar of the Judiciary Ireen Chikapa and National Bank.

Kamangira expressed concern over the silence of Finance Minister Mwanamvekha on the issue, especially considering that about MK90 billion has already reportedly been paid to the hotel’s owners.

According to Kamangira, it would be difficult for such a large amount of public funds to be released without the knowledge or involvement of the Minister of Finance.

Meanwhile, the trustees of the Public Service Pension Trust Fund (PSPTF) have appeared before Parliament’s Public Accounts Committee (PAC) to answer questions regarding the controversial purchase of the Amaryllis Hotel.

During the proceedings, the Board Chairperson disclosed that the Acting Director of the Anti Corruption Bureau attended a Board meeting held on 17 November 2025 and made a presentation on behalf of a law firm in which he is reportedly a partner.

The Chairperson also defended the process followed in the transaction, stating that the Secretariat was not sidelined as the Principal Officer, who heads the Secretariat, was present throughout the discussions.

He further revealed that the draft sale agreement for the hotel was prepared by a law firm known as Knight and Knight, which had been recommended to the Board by Nico Asset Managers.

According to the Chairperson, the Board had no ill intentions when pursuing the deal.

He explained that he only assumed office on 6 September 2025 and believes he has already made meaningful contributions to the Fund beyond the Amaryllis Hotel transaction.

However, the hearing exposed divisions within the Board, with seven of the ten trustees who appeared before the committee stating that the Investment Committee was supposed to report back to the full Board on the viability of the purchase after being assigned the task on 25 October 2025.

Some trustees also alleged that the Board’s sub committees were formed in an undemocratic manner by the Chairperson, who reportedly shared the structure through a WhatsApp group before consulting other trustees.

The marathon parliamentary hearing, which began on Friday morning, stretched late into the night and finally concluded at exactly 2:42 a.m. on Saturday.

PAC Chairperson Steven Baba Malondera announced that the committee will continue with the proceedings next week as it seeks further clarity on the controversial transaction.

Opinion, Politics

A seasoned economist returns: Can Joseph Mwanamvekha reignite Malawi’s fiscal discipline?

Burnett Munthali

…Balancing Austerity, Accountability, and Economic Recovery in a Time of Public Uncertainty

LILONGWE-(MaraviPost)-Malawi’s economic landscape faces one of its toughest periods in recent memory — ballooning debt, dwindling foreign reserves, and rising public frustration over living costs. Against this backdrop, the return of Joseph Mwanamvekha to the Ministry of Finance has sparked both hope and skepticism.

Mwanamvekha, a veteran in financial governance, is no stranger to the nation’s fiscal machinery. Having previously served in the same ministry, he brings institutional memory and a pragmatic understanding of Malawi’s economic bottlenecks. Yet, the challenges before him are far greater than before.

His immediate task is to restore fiscal discipline in a government criticized for excessive spending. Malawians are calling for austerity measures that prioritize essential services over political luxuries. Mwanamvekha’s approach to managing public funds will therefore serve as an early test of his reform-mindedness.

At the same time, he inherits a fragile relationship with international partners. Restoring confidence with the IMF, World Bank, and bilateral donors will demand not only sound policy proposals but also demonstrable commitment to transparency and accountability.

Observers note that Mwanamvekha’s success will depend on how effectively he can balance fiscal consolidation with social protection. Tightening expenditure without worsening poverty will require strategic innovation — a trait Malawians hope to see in his first budget statement.

Within the cabinet, his coordination with the Reserve Bank and the Ministry of Trade will also determine the broader economic trajectory. A cohesive policy front could help stabilize inflation and improve investor confidence.

Mwanamvekha’s leadership style is expected to blend caution with technical rigor. Colleagues describe him as methodical and unflappable, traits that may prove useful as he navigates competing political and economic pressures.

Public perception remains cautiously optimistic. While many recall his previous tenure with mixed feelings, there’s recognition that his experience could offer stability in uncertain times.

Ultimately, Malawi’s economic recovery will not hinge on one man alone. But if Mwanamvekha can deliver measurable results — better debt management, revived donor trust, and a more disciplined budget — he might just redefine the narrative of fiscal governance in Malawi.