Tag Archives: Malawi forex externalization

A Kenyan Bakhresa Malawi employee externalizes MK500 million to Kenya

Kenyan national has externalized Malawi foreign currency worth MK500 million

A man of Kenyan nationality, Adlsham Idah, who was working at Bakhresa Grain Milling Limited in Malawi has run away after fiscal police instituted investigations on him for allegedly externalizing MK500 to his home country.

According to Blantyre Police Station Spokesperson Elizabeth Divala, Idah was purchasing foreign currency and kept it at his residence and then took it to Kenya.

Divala also said that there are three more people at Bakhresa Malawi who are under fiscal police investigations for illegal externalization of forex.

“Of all our suspects at Bakhresa, we believe Idah was a masterminder. But we’ll find him and root out forex externalization syndicates,” said Divala.

The Kenyan national was until his running away a director at Bakhresa Grain Milling Limited Malawi.

Cases of forex-keeping in residential homes are reportedly on the increase. Such cases reached climax a fortnight ago when forex currency from more than 10 countries totaling to Mk200 million were found in a suitcase belonging to immediate-past Minister of Agriculture Dr. George Chaponda.

Asian businessman on custodial charge for attempting to externalize forex

LILONGWE-(MaraviPost) –  The Lilongwe Magistrates Court has on Wednesday put a Malawian businessman of Indian origin, Iqbar Sodagar Moinuddian Mohmad on custodial charge for attempting to externalize foreign currency.

an Indian man arrested for attempting to externalize foreign currency

The court has however set January 11, 2017 as the day the suspect will be formally charged with three counts, namely; illegal possession of foreign currency, attempting to externalize forex and money laundering.

This means that Mohmad will remain in police custody till next week when the state is expected to charge him. Continue reading Asian businessman on custodial charge for attempting to externalize forex