Tag Archives: Joseph Mwanamveka

Law and order, Malawi

Court acquits former Finance Minister Joseph Mwanamveka of IMF’s ECF missreporting case

Maravi Post Author

By Twink Jones Gadama

BLANTYRE-(MaraviPost)-In a significant development, Joseph Mwanamveka, the former finance minister of Malawi, has been cleared of all charges by the High Court in Lilongwe concerning allegations of providing false information to the International Monetary Fund (IMF).

The case, which also involved former Reserve Bank of Malawi (RBM) Governor Dalitso Kabambe and Henry Mathanga, focused on accusations that they had misled the IMF, resulting in the cancellation of a $108 million Extended Credit Facility (ECF) agreement.

After carefully reviewing the evidence, Judge Redson Kapindu concluded on Tuesday that there was insufficient proof to convict Mwanamveka and therefore it would be unrealistic to pursue charges against him.

This ruling comes as a resounding victory for the former finance minister, who maintained his innocence throughout the legal proceedings.

Mwanamveka’s defense argued that he was not employed at the RBM during the period in question, but instead held the position of Minister of Agriculture. This assertion supports the claim that he had no involvement in the alleged offenses related to the false information provided to the IMF.

In his ruling, Judge Kapindu cited the State’s acknowledgment that there was a lack of evidence to convict Mwanamveka.

He noted that the prosecutor (the State) had demonstrated an inability and unwillingness to proceed with the case against the former finance minister, as stipulated in section 247(1) of the Criminal Procedure and Evidence Code.

The allegations made against Mwanamveka, Kabambe, and Mathanga were serious. It was claimed that they knowingly provided the IMF with misleading information, leading to the cancellation of the $108 million ECF agreement.

Such allegations carried significant repercussions, not only for the individuals involved but also for the reputation and economic stability of the nation.

The cancellation of the ECF had adverse effects on Malawi’s economy, as it eliminated the financial support that could have facilitated various developmental projects.

Moreover, the credibility of the nation’s financial institutions and their ability to ensure transparency and accountability came under scrutiny as a result of these allegations.

The ruling by the High Court has far-reaching implications, not only for Mwanamveka but for the broader discussion regarding the handling of financial matters in Malawi.

It highlights the importance of thorough investigations and the need for concrete evidence when pursuing such cases, particularly when the consequences can have a significant impact on the nation’s economy.

The acquittal of Mwanamveka has brought relief to his supporters, who have stood by him throughout the legal ordeal.

They have maintained that he possesses an impeccable reputation and unwavering dedication to serving the nation.

Mwanamveka’s tenure as finance minister was marked by numerous achievements and reforms that played a pivotal role in driving economic growth and stability in Malawi.

His supporters argue that the allegations against Mwanamveka were politically motivated, aiming to tarnish his image and undermine his accomplishments in his position as finance minister.

The acquittal not only vindicates Mwanamveka but also raises questions regarding the legitimacy of the accusations and the motivations behind them.

As the nation moves forward, Malawi must restore faith in its financial institutions and leaders, ensuring that transparency and accountability remain at the forefront of its operations.

The legal case against Mwanamveka, Kabambe, and Mathanga served as a wake-up call, prompting a reevaluation of existing procedures and leading to stricter regulations to prevent similar occurrences in the future.

The case has also shed light on the importance of effective communication and coordination between institutions such as the RBM and the Ministry of Finance.

It emphasizes the need for a seamless flow of accurate information to uphold the credibility of Malawi’s financial sector, ultimately restoring the faith of international partners and investors.

Moving ahead, the State must learn from this case and strengthen its investigative processes to prevent baseless accusations from tarnishing the reputation of individuals and undermining the progress of the nation.

The ruling by the High Court serves as a reminder that justice must prevail in the pursuit of truth, and individuals should not be falsely implicated in cases lacking substantial evidence.

In conclusion, former Finance Minister Joseph Mwanamveka’s acquittal by the High Court in Lilongwe marks a significant moment in Malawi’s legal history.

The ruling validates Mwanamveka’s claims of innocence and highlights the importance of solid evidence in pursuing charges of false information.

This case serves as a reminder of the need for transparency, accountability, and thoroughness in the country’s financial sector, and the role these elements play in ensuring economic stability and growth.

Business, Malawi

Mwanamveka warns on Malawi’s economic instability over heavy debts

Dorica Mtenje

……..As Gwengwe set to president 2023/24 fiscal plan

LILONGWE-(MaraviPost)-Former Finance Minister Joseph Mwanamveka has warned on economic instability amid heavy debts President Lazarus Chakwera’s Tonse Alliance government has accumulated since assumed the country’s leadership in 2020.

The warning comes as Minister of Finance Sosten Gwengwe is set to present 2023-2024 National budget on Thursday, March 2, 2023.

In an interview with Maravi Post on Wednesday, Mwanamveka who is also opposition Democratic Progressive Party (DPP) finance spokesperson in Parliament observes that if Tonse government will not properly manage the level of public debts the country’s economy is to collapse.

Sosten Gwengwe ready with 2023/2023 national budget

He said the country should balance payment by exporting more to have more forex.

Mwanamveka therefore called upon Gwengwe to stabilize the exchange rate and manage the balance of payment.

“Currently kwacha is trading at MK1,600 to a dollar which not normal failure to manage this the country will collapse,” said Mwanamveka

He also call upon government to manage high cost of living to avoid creating more problems for the country.

The former finance minister observes further that citizens are committing suicide as they have nothing to do.

He also urged Chakwera Tonse government to address unemployment for the youth who are just looming around in the country’s town.

Mwanamveka however predicated hunger due to fertilizer delay delivery.

corruption, Malawi

Malawians mock Chizuma’s ACB over petty arrests without pertinent prosecutions

Maravi Post Reporter

LILONGWE-(MaraviPost)-Malawians on social media have taken swipe at the country’s graft bursting agency Anti-Corruption Bureau (ACB) for petty arrests without enough evidence against the suspects in courts.

The outburst comes barely hours after ACB issued a public statement of arresting Former Finance Minister Joseph Mwanamveka for allegedly abusing his position in the payment of US$18.3 million to the Homeland Security Ministry for the purchase of uniforms and equipment for the Malawi Prison Service.

Mwanamveka arrested

ACB alleges that investigations showed that the former finance minister abused his office to approve the payment without verifying the urgency and importance of the equipment.

But Malawians on social media are throwing stones on ACB under Martha Chizuma’s leadership over petty arrests without serious prosecution.

“The arrest of Mwanamveka is a continuation of the same old song, nothing is new here. ACB is just wasting our time and energy paying attention to them,. And it seems the current corrupt leaders will be arrested after government is booted out of leadership. As for now, former corrupt leaders are the ones to face the law ” rebukes George Majamanda.

Andsen Banda chips in, “And when they go to court the state will be asking for more time so that further investigations can be conducted into the matter and yet we are told that the ACB thoroughly conducted its investigations.

“The courts are full with ACB related files but no progress. The ACB should avoid arresting people merely based on their political connections as this may come back to haunt us through legal battles for unlawful arrests”.

Kayuni not happy with Chizuma work

Mark Mgulawanthu concurs, “We spend more time on things that are of no any positive results”.

“One of the games that we hate the most is when they arrest each other to give us the impression that they are doing something about corruption when there is nothing being done,” adds Brian Mendulo.

Since Chizuma became ACB Director General no serious corruption case has been concluded but galore of arrests.

Director of Public Prosecution (DPP) Steven Kayuni has for several times denied Chizuma consent to prosecute corruption cases without enough evidence.

Law and order, Malawi

Court orders Malawi Govt to amend charge sheet in Kabambe, Mwanamveka’s US$108 case

Maravi Post Reporter

By Chrissy Nkumba

LILONGWE-(MaraviPost)-The Lilongwe Magistrate Court through its Chief Resident Magistrate Madalitso Chimwaza has given the state 14 days to submit the amended charge sheet that will allow the accused persons to take a fresh plea in the US$108 Million case involving former Finance Minister Joseph Mwanamvekha and Former Reserve Bank Malawi (RBM) Governor Dalitso Kabambe.

Mwanamvekha on the radar

The two are accused of doctoring financial figures that were submitted to the International Monetary Fund (IMF) and the World Bank while they were in office.

The move was allegedly made to IMF to believe that government was meeting conditions connected to the $108 Million Extended Credit Facility (ECF).

IMF eventually, cancelled the ECF to prejudice the rights of Malawi Government.

In her ruling, Magistrate Chimwaza directed that the charge sheet should contain particulars like the month in which the alleged offence took place unlike just saying in the year 2019.

Mwanamvekha once served as Malawi Savings Bank Chief Executive Officer.

He left the role in 2009 and later became Secretary to Treasury in the Bingu wa Mutharika administration between 2010 and 2012.

In 2015 when the bank was being sold, he was Minister of Trade in the Peter Mutharika administration.

Mwananveka and Kabambe were also arrested on December 8, 2021 on the similar cases.

Business, Malawi

Opposition DPP casts doubt on MK2.8tn 2022/2023 fiscal plan’s implementation

Maravi Post Reporter

By Thandie Chadzandiyani

LILONGWE (MaraviPost)-The expected success of the MK2.8 trillion national budget which was passed Wednesday, March 24, 2022 in parliament has bring doubts in the Opposition Democratic Progressive Party (DPP).

The national financial plan will run until March 31 2023 as approved by the parliamentarians.

The passing of the Budget, came after the House has scrutinized allocations going towards government ministries, Departments, and Agencies.

Finance Minister Sosten Gwengwe, expressed excitement and congratulated the House for passing the Budget.

He has since expressed optimism that the Budget will be implemented.

‘’We have done a bug task today and every budget is measured by the extent to which it is implemented. That is why we as the government has planned to extensively implement this budget’’ said Gwengwe.

However, Joseph Mwanamvekha spokesperson for Opposition DPP on matters of finance has expressed doubts that the Budget will be implemented, citing the struggling economy as the reason.

He has since described the Budget as a weaker one.

Putting his point on the scrapping off of a 16.5 % VAT on cooking oil.

Gwengwe said government anticipates a gross domestic product (GDP) growth of 4.1 percent and 4.0 percent in 2023, average inflation of 9.1 percent, a policy rate of 12.0 percent, and tax refunds of 3.0 percent of total tax revenue collection.

However The government will aim to entrench macro-economic stability, enhance the country’s resilience to external shocks, and fast-track economic recovery during the post-Covid-19 pandemic period.

Politics

Nankhumwa growing wings: Fires Mwanamveka as DPP’s finance spokesperson

Maravi Post Reporter

LILONGWE-(MaraviPost)-Leader of opposition Kondwani Nankhumwa in Malawi Parliament has fired Joseph Mwanamvekha as the party’s spokesperson on finance.

The development comes barely weeks after Mwanamvenkha resigned from Nankhumwa’s shadow Cabinet.

Nankhumwa who is also Democratic Progressive Party (DPP) Vice President for the South has therefore replaced Mwanamvekha with Ralph Jooma, Member of parliament for Mangochi Monkey-Bay.

The development means Jooma is the one who is going to react to a budget statement presented in the house by Minister of Finance Sosten Gwengwe.

Nankhumwa has also fired Bright Msaka as legal Affairs spokesperson and has replaced him with Yusuf Nthenda, who is the party’s Shadow Minister of Justice and MP for Mulanje West.

Mwanamveka and Msaka who are DPP presidential aspirants are yet to comment on the matter.

Meanwhile, Nankhumwa has announced new sitting plan in the house for the opposition benches.

DPP leadership is also yet to react on the development.

Business, Law and order, Malawi

Former Malawi Finance Minister Joseph Mwanamveka arrested over cooked up figures to IMF

Maravi Post Reporter

LILONGWE-(MaraviPost)-Former Malawi minister of finance Joseph Mwanamveka was on Tuesday, December 7, 2021 arrested for suspected cooking figures to International Monitory Fund (IMF).

Sources told The Maravi Post Mwanamveka presented cooked figures to IMF to paint good picture on Malawi economy when things were groomy

Mwanamveka arrest however comes just over a day after government announced that it would probe the 2015 sale of Malawi Savings Bank.

Speaking in Parliament recently, Minister of Homeland Security Richard Chimwendo Banda had also warned about possible consequences for those he said were responsible for cooking up figures which were presented to the IMF and World Bank.

More to come….

Business, Malawi

Opposition DPP punches holes in Chakwera’s Tonse 2021/2022 national budget

Richard Kayenda
Mwanamveka

MZUZU-(MaraviPost)-The former ruling party, Democratic Progressive Party (DPP) has punched holes in the second Tonse alliance budget of 2021 to 2022 national budget, describing it as highly consumptive and debt ridden.

Responding to the budget presentation by the Minister of Finance, Felix Mlusu on Monday, DPP’s economic and financial thinktank, who is also a former minister of Finance, Joseph Mwanamvekha, said the budget does not realistically represent the situation on ground and it is unimplementable.

“I was summarising the budget as unrealistic; a budget that is debt ridden, because there is too much debt in there, and also a budget that cannot be implemented. That’s what I can say as I said in the budget” ranted Mwanamvekha.

On 28 May this year, Finance minister, Felix Mlusu presented the 2021/2022 national budget which estimated to the tune of K1.99 trillion and on Monday this week, lawmakers started to dissect it.

The house will be expected to pass the budget after its members have deliberated on it vote by vote in their committees of supply.

Lifestyle, Politics, Top News

Rumble for supremacy in Malawi’s opposition DPP ends Mpinganjira, Mwanamveka into clash of tears

Ufulu

BLANTYRE-(MaraviPost)-Battle for supremacy in opposition Democratic Progressive Party (DPP) continues to grow as witnessed over the alleged misappropriation of MK6.2 billion at the Department of Disaster Management (DoDMA) under President Lazarus Chakwera’s Tonse administration.

There is a feud of supremacy between DPP spokesperson Brown James Mpinganjira and the party’s parliamentary spokesperson on finance Joseph Mathyola Mwanamveka has seemingly ensued where both of them have signed off a statement on the party’s position on the alleged misappropriation of MK6.2 billion DoDMA, which falls under the presidency.

In an exciting twist of events, Mwanamveka originated a statement as DPP parliamentary spokesperson on finance in which he reprimanded President Chakwera’s government for allegedly allowing DoDma officials abuse billions of Kwacha allocated for the fight against the deadly COVID-19 pandemic.

According to inside sources, alparently following protocol, Mwanamveka informed party President Arthur Peter Mutharika (APM) about his intention to issue a statement in his parliamentary spokesperson capacity.

Mwanamveka thereafter shared the copy of the statement with his leader.

However, upon receiving the statement, APM forwarded it to Mpinganjira to seek his views and input. In an apparent desire to outdo Mwanamveka, Mpinganjira, or BJ as he is popularly known in political circles, went ahead to sign off the statement and released it to the media as originating from the ‘Office of the DPP Spokesperson’.

Meanwhile, not to be outdone, and without further waiting for feedback from the party President, APM, Mwanamveka released the same statement to the media bearing his signature. The Nation of Tuesday February 9, 2021, carries a story quoting Mwanamveka’s statement on its front page.

The same Mwanamveka statement has also been published on our sister paper, Nyasa Times.

However, a political analyst in Lilongwe, Charles Kalungwe, has observed that the DPP is in a state of chaos and flux, especially considering the latest statement episode.

“The party is in some form of involuntary transition. There are so many people with top leadership ambitions and they will not stop at anything to outdo each other. This ‘statement’ drama is a typical example of leaders in a fight over visibility”, said Kalungwe.

He also said what has just happened in the DPP suggests there are many centres of power that are being created by various aspirants such as Mpinganjira and Mwanamveka in anticipation of the forthcoming leadership contest.

“This is the kind of chaos that characterized a political party with no clear leadership succession plan. It also tells you that the leader of the party is not in control,” he said.

It is not clear whether or not the party will clarify who should have been the appropriate official to sign off and publish the statement.

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Since DPP lost to June 23, 2020 Presidential Elections, the party has been in power crisis that the part is failing to play its role as opposition block to Tonse administration.

Malawi

Salima-Lilongwe water project in limbo: Is Joseph Mwanamveka still Minister of Finance?

Maneno Chimulala
Simbi Phiri: Chairperson of Khatho Civils

BLANTYRE-(MaraviPost)—Khato Civils, whose owner is Simbi Phiri a close friend to Malawi leader Lazarus Chakwera, has attributed the delay to kickstart the multi-billion kwacha Salima-Water Project to the Ministry of Finance’s delay to sign a loan guarantee with the financiers the company has identified.

The South Africa based company’s chief executive officer Mungozi Munyani was speaking during a meeting with the Parliamentary Committee on Natural Resources and Climate Change.

Speaking via video from Johannesburg, he said Khato submitted the designs and all the required documentation in August this year.

“We are ready to roll out the project. Our only challenge is that the Ministry of Finance has not signed the loan guarantee,” he said.

The Salima-Water project stalled during the regime of the Democratic Progressive Party (DPP) as it was alleged that the owner of the company Simbi Phiri was bankrolling the current ruling Malawi Congress Party (MCP) political campaigns.

During an interview, Simbi Phiri faulted DPP government for its lack of seriousness and non-compliance on the contractual obligations and warned that it cannot just come out of it without any consequences.

The Khatho chairperson viewed the project as a national one with millions of dollars invested involving 142 engineers who came to Malawi for two and a half years conducting surveys.

He further personally attacked the then Minister of Finance, Joseph Mwanamveka, for being behind the government’s delay to give his company a go ahead to kickstart the project.

“There is no way of getting out of this project without paying because we’ve already spent money there is no chance.

“It’s not going to happen; there is no way. Mwanamvekha should know he can’t run away from it the country has to pay,” charged Simbi

The project also faced a stumbling block from Malawi Law Society (MLS) which applied for an order in court to stop the company from starting the works before an Environment Impact Assessment—EAI—but the Supreme Court of Appeal ruled in favour of the company.

Soon after taking over power from the DPP, Minister of Forestry and Natural Resources, Nancy Tembo, made a commitment to revisit some of the multi-billion water project having alarmed with the growing demand for portable water in the Capital City.

Tembo disclosed that government would initiate discussions with concerned stakeholders with the aim of seeing that the project materialized.

She bemoaned citizen’s lack of access to clean potable water hence the need to revamp the multimillion dollar project.

“There’s going to be more people needing this water and if we call ourselves a developed country people have to have access to safe clean water

“And so there is other projects that are looking at you’ve heard of the Salima-Lilongwe Waterworks Project and the Diamphwe projects these are projects that are looking ahead planning ahead for the eventual growth of our population.

”We will initiate the discussions between Lilongwe Water Board and Khato Civils. We need that project,” explained Tembo.

The Lilongwe Water Board are the owners of the Lilongwe-Salima Water Project, one of the biggest in the country that is expected to supply water to the capital Lilongwe and surrounding areas.