Bingu’s corrupt wealth probe derailed

Investigation into claims that the country’s former leader late Bingu wa Mutharika  – brother to the incumbent Peter Mutharika – has cashgate proceeds about K61 billion  ($85.3 million at current rate)  stashed in offshore accounts has hit a snag after Parliamentary Public Accounts Committee (PAC) of the Malawi national assembly says it has n mandate to carry out the probe.

Bingu's wealth faces probe

Bingu’s wealth faces probe

PAC chairperson Alekeni Menyani said his committee was not given the mandate to probe the matter but rather the issue was referred to the Business Commitee of Parliament where the leadership of all parties in parliament meet.

Menyani said the Business Committe was given the mandate by the House to handle the matter, saying it was a wrong assumption that his committee will carry out the probe.

Opposition Peoples Party (PP) legislators, led by Mzimba West MP Harry Mkandawire and Kamlepo Kalua from Rumphi East, led calls for  investigations  in late Mutharika’s estate alleging he  ‘cashgated’ huge sums of money from the public coffers which he deliberately stached in offshore accounts.

According to forensic reorts, the looting of public funds started under Bingu wa Mutharika’s Democratic Progrssive Party (DPP) were of a different nature to the Cashgate type that was instituted during President Joyce Banda’s reign. Under Bingu they were of the more typical over-invoicing and over-pricing variety.

Preliminary audits of government finances between 2009 and 2014, carried out by PricewaterhouseCoopers (PwC) and financed by the German government, indicate that at least K577 bn. ($807 mn.) could not be accounted for.

Later, the estimated loss was reduced to K236 bn. ($330 mn.), still a gigantic figure for impoverished Malawi, about one third of the government’s annual budget.

Follow and Subscribe Nyasa TV :

Please share this Article if you like Email This Post Email This Post

More From Nyasatimes

More From the World

6 thoughts on “Bingu’s corrupt wealth probe derailed”

  1. Ok we heard this, so where is the people whose working as anticoraption? What are they doing? So what we need is that money, you know if there is a country get rich with donations we should the one. How long we have been received since from the beginning until now nothing to be changed.
    The donners are trying their best to develop the country then others are busy stealing so at point this people not capable to be a position of leadership. We must make plan for this, especially those whose names running around almost every party, why are changing the parties like underwears that isn’t a political it is violating political the strong leader must be stable in one party then you can shake the opposition because you have one mind.

  2. santana says:

    So Kamlepo with all that loud mouth is failing to take this task? I thought this was his chance to expose the thieves? He and Mkandawire started the issue in Parliament yet they are now shrinking. The 61bn was a campaign issue for Amayi to dent the DPP image yet she flopped. She was given 2 full years to expose Mutharika and his party, yet the same party showed her the exit door. Kamlepo and Harry were both there. In the media front Bwande, Tenthani, Kasakula and Brian Banda all supported amayi but all achieved nothing but shame. You reporters when you talk of 577bn you should also tell readers that out of this 577 bn 350 bn was for amayi.

  3. Harawara says:

    I was no there during colonial times but I have always thought that colonialists would have been better rulers than the rotten apples that we are offered. We need a third republic. How can someone say they have no mandate to investigate an alleged theft of K61,000,000,0000.00. And no one Malawian is concerned about it. I for one do not blame the DPP for all this. I blame Malawians who voted it in government. Anyone who cast vote for DPP should be ashamed for legalising plunder of public resources. Shame on all of you!!!!

    1. Charlie says:

      Ngati simunabepo kwezani dzanja

      1. Zondi says:

        Charlie thats daft and lame. Typical Malawi mentality. And you then complain about blackouts and dry taps when in essence its people like you who put these people in power

  4. Maunits says:

    Thieves must go. Those who were cash gating together are today ion power also not Malawians denied thieves during by-elections

Comments are closed.