Chikaonda embroiled in K320mil collusion scam, hits back at Mbele: ‘Shit or get off the pot’

Former central bank chief, Prof. Mathews Chikaonda, currently heading Malawi’s largest conglomerate – Press Corporation Limited – has been hit with lewd accusations by  a Malawian entrepreneur based in South Africa, Joshua Mbele over the K320 million  collusion scam involving Telecommunication Network of Malawi (TNM) one of the mobile service providers in the country but the economist has hit back to Mbele accusing him of character assassination.

Chikaonda: PCL boss faces accusations by Mbele

Chikaonda: PCL boss faces accusations by Mbele

Joshua Chisa Mbele

Joshua Chisa Mbele

Mbele of Ulalo Capital Investments Limited claims he was led into financial trap by TNM Directors during the time TNM was being listed that lead to the investment suffering heavy financial losses forcing them to pay almost double as much;  incurring huge losses in the process.

The company paid MK321 Million for the shares instead of paying MK170m as previously negotiated and agreed.

Ulalo Capital Investments Limited (UCL) in a joint investment with SAEDF in Ulalo Telecoms Limited (UTL) lost their money in the share allocation scam when Ulalo, on assurance from Chikaonda, Board Chairperson, obtained a further loan from their funder Southern Africa Enterprise Development Fund (SAEDF) to increase their shareholding to 4.99% from their existing 3%.

In August 2008, UCL wrote to the Chairman of Board indicating their intention to increase their (UTL) stake from 3% to 5%. They got positive confirmation. Acting on instructions from Sean O’Neill, who acted as broker in the deal, Ulalo was advised that for the company to reach the target of 5% it had to hold 500 million shares in the TNM which subsequently meant UTL buying an additional 238 million shares.

The broker had advised UTL to pay MK416m at 175 tambala for the additional shares. The price was later revised to K2.00 as per IPO Prospectus.

On 17th October 2008, Mbele handed over MK459m together with the [share] subscription documents to O’Neill’s office. The other directors of Ulalo Telecoms Limited are Malcolm Pryor (Chairman), Chancellor Kaferapanjira, Patrice Nkhono, Washington Kaimvi and Rafique Symonnette.

Meanwhile, in  articles shared widely online,  Dr Davies Lanjesi   is also implicated said he he recently attempted to fraudulently change the directorship of Ulalo both in South Africa and Malawi with company registrars by lodging fake papers.

“He was caught red handed in both instances. In South Africa, he is facing criminal charges of fraud, forgery and corruption. He acted in contranvetion of Company’s Act. In Malawi, the High Court declared his attempts unlawful.”

The document further reads: “ Dr Lanjesi is the victim of poor legal advice. His lawyer, James Masumbu has performed worse than unskilled plumber. His client was reduced to desperately committing petty criminal acts after court humiliations. The assistance from Chikaonda to divert Ulalo dividends was surely the most stupid thing to embark on. It would expose the bank and employees to criminal prosecution. Court Order on Directorship.”

Chikaonda, who retires at PCL, has been branded  “a highly educated person but incredibly incompetent and shameless crook” who served his personal interests at the expense of everybody.

“He colluded with Hitesh Anadkat the Chairman of Livingstone Holdings, the owners of FMB bank to commit what would only be described as the biggest fraud and inside trading in Malawi’s corporate history and Stock Exchange.

“The crime that would have seen them behind bars if President Bingu wa Mutharika had not suddenly died in April 2012. Chikaonda has an axe to grind with Ulalo for reporting him to Reserve Bank of Malawi for investigation. As the Regulator of Malawi Stock Exchange, the Central Bank launched an investigation into TNM IPO. Both Chikaonda and Anadkat as Directors were questioned.

“They were asked to submit written answers to series of questions. They had two weeks to reply. In the end, the Reserve Bank came to one conclusion. TNM IPO was a massive fraud. Criminal investigation was recommended. The report was prepared and presented to President Mutharika to authorize ACB to take over the matter. Sadly, Mutharika suddenly died of cardiac arrest in that very week of 5th April 2012. Chikaonda has a Case to answer. His determination, today, to harm Ulalo must be understood. Ulalo put him in trouble.”

Mbele  said he wrote his legal advisor, Wapona Kita and stated that National Bank of Malawi failed to officially explain itself how a Bank Account was opened with forged documents.

Chikaonda response

Chikaonda has since responded, with a note copied  to Nyasa Times, the economist wrote:

“Hear! Hear! Hear!  That’s the beauty of Democracy.  He who alleges must prove and we all have a right to be presumed innocent unless proven guilty in an open forum we call the “Courts” where such matters should be argued before an independent arbiter.  Also, he who seeks justice must come with clean hands.

We also note that under the democratic dispensation, the accused has a right (not a privilege, but “the right”) to face their accuser in the said open forum.

Further, under the same democratic dispensation, we are guaranteed many rights, including freedom of speech and expression.  However, there is no corollary right for people to listen to you when you choose to speak or express yourself. Yes indeed, you even have the right to make a fool of yourself.

So, for me, based on the many years of experience in Academia, public and private sectors, where I had the privilege of dealing with high-ranking people like Presidents, Prime Ministers, etc on the one hand; and also little stuff like mosquitos and fire-flies, on the other, I have learnt a number of lessons and wish to share a few as follows:

  1.  Don’t argue with a fool because you might be mistaken for one yourself.
  2.  It is better to keep your mouth shut and let people think you are a fool than to open it and remove all possible doubt.

Since Mr. Mbele has just succeeded in breaking Rule No. 2 above, I wish to advise everyone else to stick to Rule No.1 above.  There again, you are entitled to choose freely.  Even if you choose wrongly, it’s your right.

During the years of my sojourn in America, I also learnt a few lessons and a new, more direct way of speaking, whereby you don’t call a spade a “big spoon”.  So, to Mr. Mbele, I wish to offer the following advice in the parlance of Mid-west America:

Shit ot get off the pot’ 

Chikaonda has challenged to meet Mbele in court .

“I say, bring it on sooner rather than later and don’t waste our precious time with your gutter journalism stuff, masquerading on social media and Nyasa Times as ‘Grace Phiri’ or such other fake pseudo names.  It is said that the truth shall set you free.

“ Make evidence-based arguments in the proper forum.  Also, it is instructive to note that when you speak the truth, you don’t even have to remember what you said or did, when, where, etc.  The truth defends itself.  So, if you were grounded in the truth, you would not have been spitting out all this junk. Grow up Mr. Mbele and smell the roses !!  By the way, you tried to give me advice in one of your submissions, kindly not that I would rather take advice from a donkey that a Mr. Mbele. You are NOT competent to give me advice for I know that if one asked a turkey during Christmas as to what the best stuffing is, the turkey will say “worms, grit and sand”.  So, advice from you would be like this advice from a turkey.  In my retirement mode, I have the time to exercise my right to defend myself and respond to any and all allegations.

To the rest of the accused, I say to you:  see Rule No.2 above.

I rest my case.

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36 thoughts on “Chikaonda embroiled in K320mil collusion scam, hits back at Mbele: ‘Shit or get off the pot’”

  1. Laza Judas the Iscariot says:

    I agree Chikaonda akanachita zomwe amachita APM fans kumtukwana iye ziii. Chitsiru ukamachiyankha umaoneka chitsiru ndi iwe amene ukuyankha.

  2. Malawianah says:

    Mr Chikaonda as a prof shouldnt vomit all this venom b4 court.Here it shows that he want to scare mr mbele by his title.We know and respect that mr Chikaonda is highly educatedman but that doesnt give him licence to commit crime.Onething bignames like mr chikaonda should know is this-“justice fear no Name”.SEE U IN COURT.

  3. Jafrez says:

    What crap is this???

  4. Nkhombokombo says:

    Nkhanizi umve wazaza! language used summarises the character of the persons involved. School ndi nzeru nzosiyana,!

  5. NgaTonde says:

    But when you see these people of Press Corp. one wonders that koma Ku BAFA AMAFIKAKO? azimayi nawonso MAKHOBILI ETI?

  6. Mberere says:

    Both Chikaonda and Mulipa have plundered Malawi’s economy and all have moved with Hilda Singo at MTL.You can see their vehicles as the old ones have been given to their wives and Children with houses all over Blantyre and Lilongwe KUBA AGALU AMENEWA.Many had gone to Universities NOT like Malawi rather best ones abroad but they are not thieves at all.This Government is very dull indeed. These Mulipas and Mateyu should have gone to prison by now due to million Scams at Press Cooperation, MTL.TNM, CARSBERG etc and they are busy kufuna kumubera Rolf Patel in Chikwawa.These guys are professional thieves. ALL WOMEN AT THE SAID ORGANISATIONS UGONA NAWO.Some sent them to Chanco and abroad, God is watching MBELE DONT FEAR EDUCATION THESE ARE PROFESSIONAL THIEVES IN MALAWI AND MEET THEM IN COURT. A MULIPA YES BWANA MUMANGWINJA LIMODZI.MAGALIMOTO MPAKANA WOLERA MWANA PAKHOMO? KOMA MATEYU NDI PIUS MWADYERERA PRESS CORP.

  7. Presidential Advisor says:

    …here is a highly regarded personality responding like a kid, throwing tantrums. One would expect such a person to seek redress from the court but alas! And he has set the prognosis on himself, the rule number 2, so what do we call him now? And the choice of language, my ooh my! Sh***t or get of the pot, Very street. West coast gangster indeed. For a moment I thought he is thought he is 50 Cents second in command “get rich or die trying”. Thats how he sounds. And it looks like that’s what he is been trying to do at what ever coast. Gangsters’ life. Representing. That alone vindicate Mr Mbele of the character of the corporate gangster this guy is. Tili ku tali amalawilila, palibe po angatiombole.

  8. The Partriot says:

    The partriot is just watching, waiting patiently to see where this “shit” leads to. However , the million dollar question is why now? Koma PCL anthu mukuifunadi eti?

  9. The Analyst says:

    O………………………………………………………………………………………………………………………………………………………………………………………………………………O
    Chikaonda is intelligent (seen from his academic completeness) . . .
    . . . but significantly unwise (seen from this common vendor’s response) . . .

    The language used by Chikaonda in his response is too cheap, common and unpolished to have come from a man who boasts his academic, corporate and professional candor.
    . . . What amount of arrogance, if not untold; gives a man the right to call others flies and mosquitoes? Kupsa mtima mwati? But is not equanimity (calmness of temper) an indelible mark of wisdom? Is this language professorial or corporate, anyway?
    . . . And who doesn’t know that . . .
    “A fight between grasshoppers is joy to the crows.” – Nigerian Proverb
    ……………………………………………………………………………………………………………………………………………………………………………………………………………………
    . . . People have always looked at Chikaonda and seen a corporate man; with threads of honour in thought, manner and language, only to realise that the opposite is true? What has he managed to achieve, if not break the so called rule no. 2?
    . . . And who claims to live by some borrowed rules and within seconds (of making this declaration), breaks them; if not a man with no molecule of integrity?
    . . . You use somebody’s thoughts/rules (without giving him credit) and you also fail to live by the rules? Pali chilungamo apa?
    . . . Indeed . . .
    “It is better to remain silent and be thought a fool than speak out and remove all doubt.” – Abraham Lincoln
    . . . Otherwise . . .
    “A good name is sooner lost than found.” – Dictionary of Proverbs
    O………………………………………………………………………………………………………………………………………………………………………………………………………………..O

  10. Observer mission says:

    Surely this is NOT from the Chikaonda we all know!

  11. john phirilj says:

    Article shit, Mbele shit, Chikaonda shit inenso shit.

  12. Mapwevupwevu says:

    Khaya ndiwe Chikaonda, khaya ndiwe Mbele musatinyanse tonse tidzafa basi! Mapwara anu!

  13. Phwisa says:

    I dont believe this is the reaction from Chikaonda. I respect himself but if this is his defence then am afraid he just want to scare Mbele. That in other words admitting his wrong doing but trying to exhibit his ‘academia’ to illiterate man thinking by just looking at his papers then he is ethically professional. Chikaonda, I have mentioned here before that I have been questioning his economics. Useless economist.

  14. Oscar Kapinya says:

    Tsiku ndi limodzi mudzaonekera poyera.Dziko mwalibera ili.

  15. true patriot says:

    I’ve the following observations pertaining to the article:
    1. The journalist who has written the article is not apt to handle such a highly technical topic. I’ve a feeling that people are commenting following Prof Chikonda’s reaction or because they already have good knowledge of the issue.
    2. Prof Chikaonda’s response ordinarily makes interesting reading but, mind you, he is not an ordinary undergraduate who is excited with recent success! This is a highly experienced and supposed intellectual – someone who has been touted as a potential head of state! Surely such person ought to exercise control when provoked!

  16. Nyani wa ku Mwananyani says:

    a Chikaonda ndiye anyanya apa (Mr Chikaonda has gone overboard here in his response).

    He has been dignified as a businessman and public servant, and he could have said little or nothing. Based on what is reported here, much of it verbatim, he is NOT advancing his character at all. After all there are the Courts to settle matters, like these; and he should have simply denied the accusations, and say “see you in Court.”
    What a temper! Now, people must wonder, if Mr Chikaonda run Press with this arrogance, rather than servitude. To wit: considering some business people he has dealt with as “… little stuff like mosquitoes and fire-flies” is plain disrespectful and contemptuous.
    He thinks he is so important, now he can set up his own rules, Rules No 1 and 2! – now to be known Chikaonda rules! Wow.

    Many have lived in capitalist countries even longer than Mr Chikaonda, but without developing these kinds of attitudes. Succeeding there, as many overachievers have done, does not give one a licence to treat others like garbage. Humility is virtue, always.
    Unbelievable: the outlook of Malawian oligarchs!
    And, in the midst of our extreme poverty and hardscrabble living, they think they are our overlords! Koma a Malawi anachenjela masuku ano (Well, Malawians think otherwise.) The Courts are waiting.

  17. A Fat Mosquito says:

    Mbele is a real mosquito. He makes too much noise online.

    Chikaonda is a credit to Malawi. It is sad people like Mbele just as we had Chimwemwe Mputahelo would always character assassinate credible public figures. Actually it is because of too many Malawians with a mind of Mbele that Malawi ends up with dull leaders (because the credible ones are attacked and frustrated like this).

    This is exactly what Kasambara is facing there. Idiots publishing malicious articles defaming an individual. Mpofunika kuwatengera ku court wanthu oterewa.

  18. Ethel Msungeni says:

    “He who seeks justice must have clean hands ” is wrong…..justice requires no clean hands. Justice has been known to favour crooks and criminals because the prosecution had weak cases….It is only he who seeks equity before the court who must have clean hands. Equity is granted by the court where the court opts for fairness where justice may seem harsh. So they say he who comes to equity must come with clean hands.

  19. Kumalawiuko says:

    Malawians let us say the truth herein without backing our boy Matthews. The guy has really destroyed the economy of this country and if you are a God fearing person you will agree with me. This guy attitude makes no difference with that of MSB and hence have plundered the economy of this country. If Bingu was alive some of these people would be rotting in jails of country and this is why when news about the death of Bingu the very same guys were cerebrating because they clearly knew that they were now served. If the current President was serious in this matter many would by now been taken by ACB. Yes, we want to agree that in every country there are thieves but in Malawi it is too much for such thin economy. When you hear the accused what they normally say one might think that they are clean and honest.There are many people of Chikaonda group.

  20. Wawa says:

    Four years ago this Joshua Mbele wrote something similar on nyasatimes. To me he is just seeking attention in his old age. If he has a case, he should go to court and handle the matter in a mature way.

  21. Kamtendza Mwale says:

    The Economist has responed intelligently but he has broken both rule number 1 and 2. However his challenge to meet Mbele in court makes amends on what could have been a dented image due to flouting rule 1 & 2.

  22. Kingsley says:

    Peter Is Our Life President Let Him Be Advisor On Cashgate Scam Dpp Woye!!

  23. Mangani says:

    Chikaonda has a case to answer. He steals smartly. Ku RBM he was also stealing. Ku Press Corporation nako wabako. Do u remember govt issued a press statement saying he gave himself K1.3 million car allowance without board approval? MBELE DON’T FEAR him. Meet him in court and shame him.

  24. Jahan says:

    I don’t know much of what the feud is about between Chikaonda and Mbele. But from the spectator’s point of view, reading this article gives me the view that Chikaonda is very arrogant and makes the mistake of thinking that since he is educated, whatever he says is a fact. For example, he argues that if you are telling the truth, you don’t have to or need to remember the facts,,Really? That’s a cheesy line we tell kids. Not only do YOU need to remember the facts Chikaonda (or chikanenepa), you also need to remember the order in which your facts happened. Its called …MAKING SENSE. You miss a fact, no one will believe your story!! So much for being learned ey.
    Please remember that emotions- screaming, shouting, swearing and talking aloud, as marinaded in your article, is contrary to your own two rules as spewed above. And, it definitely does not force people to listen to you…. A factor you have pointed out in your own article. Contradictions!!! Oh And calling people NAMES just because they disagree with you or because they are uneducated than you shows immaturity! Especially for someone with presidential ambitions! We already have APM and Chilima to do that to us!

  25. Exposethem says:

    If Chikaonda eyes for MCP then I will quickly join CHISI party.The man is also too much of himself. Malawians better know that the talked about TNM Shares were largely bought by foreigners denying Malawians. Mr MBELE might be very wright at one point of the other. Malawians had money buy Shares but their money were returned and instead allotted them K20,000,00 out of K100 000 000.00 an applicant wanted. Its not only Chikaonda who did this Scandal there are many Malawians and we daily see them UNYAUDA PA NSEU.Even our banks are NOT honest at all!!! There are many and many Crooks in Malawi who are involved in this Scam not only Chikaonda. lAWYERS, CEOs and name them and this country is really SHIT!!! ZIKO LA UMVE suitable for Crooks ONLY.You see them driving posh vehicles, living in mansions KUBA KHOKHA KHOKHA. For instance my friend was surprised to see our Blantyre Shoprite as it is NOT the one on Drawing Maps SHIT!

  26. Bwana Chikaonda. Zonse mwanenazo mwatha mau bwana. Mukanamupatsa mtolankhani 25000 and he would summarise and release it as your spokesperson. The release would have read. “Prof Chikaonda understands that some business entities have levelled serious allegations of professional misconduct by MTL whose operations he overseas. He will respond in relevant legal forums at the appropriate time. In the meantime Prof Chikanda is committed to growing the shares and value of both MTL and Press Group of Companies.”

  27. Amwali says:

    Joshua Mbele is a fraud a crook anda cheap show off. If he has beef with Chikaonda why bring it on Face book. GROW THE FUCK UP AND USE PROPER CHANNELS FOR YOUR GRIEVANCES. Rich my ass. Mxii.

    Am not saying Chikaonda is innocent.

  28. waki says:

    mdala ameneyi…kulankhula motumbwa chonchi bwanji

  29. Momba says:

    The Ulalo guy is a fraud and show off. He’s made himself of many powerful enemies. I would first do business with the devil than him.

  30. Tinyade says:

    This Mbele guy is a crook. He took loans under partsneship, convinced standard bank to change cheque signing arrangement then withdrew huge amount of money to buy shares in his family members name. Most of his business trasactions have ended in courts. How can everyone ne always wrong and him always right. He uses people and not what he claims to be

    You dont have to believe me but google him and his so called company and you will make your own decision about this man.

  31. Kenkkk says:

    I am just a spectator on this but keen on following it and see how it will end.

  32. nachos ale says:

    It seems that Chikaonda has broken the rule 2 as well. The last paragraph confirms it. I like the whole drama…thats what we Billionaires talk about…we talk about shares, IPOs such stuff…

  33. agora says:

    well it is sure interesting for starters !

  34. Kayoyo Phiri says:

    O Chikaonda, mwayankhula bwino zedi. Tikukudikirani ku MCP. Bwerani msanga bwana.

  35. Ndanenapo says:

    Recently I witnessed the interview of Mr MBELE who boastfully that he is rich and finally praised Chikaonda at the end of the interview.Surely it was on Times Tv Station. What has gone now you guys?

    Without connecting the above issue, many Malawians who are doing extremely well in the country are crooks, have dirty monies and believe you me ALL as it is my right to say it.

  36. lipengs says:

    I only see arrogance ,pride and emotions in the article, I used to think this man had a States Man attributes and worth to be a future President of Malawi but yo I was wrong ,even a donkey can’t vote for you.MCP be careful with this man he is too much to himself. the rule number one and 2 they belong to both of you

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