Chakwera, Chilima wealth made public: APM, JB assets known

Malawi Vice-President Saulos Chilima has declared ownership of five farms, several plots and houses and insurance policies valued at about K7 million in the details of his wealth declared to the Office of the Director of Public Officers Declarations.

Chilima also declared registered jointly with his wife Mary, several bank accounts holding about K8 million.

The assets declaration information made public also is that of leader of opposition in Parliament Lazarous Chakwera.

Chakwera, who is also president of the Malawi Congress Party (MCP), also said he jointly owns with immediate family members, 10 other different bank accounts.

The MCP president, a former head of Assemblies of God church, declared four houses worth K120 million, six vehicles and six bank accounts,  including one in America containing about K6 million.

Speaker of the National Assembly Richard Msowoya assets declared on December 19 2014 are four houses constructed in Lilongwe and Mzuzu worth K120 million.

Malawi President Peter Mutharika declaration of wealth shows he is among a group of billionaires details indicates that he has a number of bank accounts within and outside Malawi that hold close to K4 billion cash.

The President, who declared his wealth in July last year, has over $8 million (about K3.4 billion) in two bank accounts which he holds in the United States of America (USA) where he spent most of his working life.

In Malawi, the declaration of assets documents show Mutharika has about K70 million at Standard Bank and a fleet of nine vehicles which he reportedly bought between 2001 and 2014 also valued in millions of kwacha.

Mutharika’s predecessor, Joyce Banda, among her declarations, is about $14 000 (K6 million) in a bank in the USA, about 240 000 South African rand (over K9 million and K2 million at National Bank of Malawi.

Banda, who is president of the People’s Party (PP) and made her declarations on December 30 2014, also declared ownership of 63 vehicles, most of which she donated to her party and tax is yet to be paid in full to Malawi Revenue Authority (MRA)..

The former president also declared businesses such as her school, Joyce Banda Foundation valued at K114 million.

In May 2004, Bingu declared his wealth to be around K150 million. However, an assessment of his estate after his death valued his wealth at K61 billion, a figure his family disputes.

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