Malawi cashgate loot up to K20bn from K13bn – report

October 4, 2014 Nyasa Times Reporter 35 Comments

The billions of kwacha in public funds stolen in a scandal dubbed as cashgate has been revised from K13 billion to K20.3 billion, according to the  Anti-Corruption Bureau (ACB).

British audit firm, Baker Tilly, which was hired by the British Government to carry out a forensic audit first discovered that K13 billion was stolen within six months last year,

Cashgate suspects walk in shame covering their face
Cashgate suspects walk in shame covering their face

But ACB’s deputy director, Reyneck Matemba,  has said the new figure includes K4.8 billion of transactions suspected to be overpayments and payments made without supporting evidence.

He sai ACB has received from the Auditor General the audit report from Baker Tilly, British auditors who were assigned by former president Joyce Banda to help trace the looting.

“We have received the long-awaited Report from Baker Tilly,” Matembe is quoted by Weekend Nation newspaper.

He confirmed that the report presented to parliament is “very detailed and it contains names of companies and the owners of those companies as well as individuals that are suspected to have taken part or were connected to the massive plunder of Government finances dubbed ‘Cashgate’’”

Added Matemba: “The ACB is analysing the Report which, undoubtedly, contains very crucial information which will prove very vital to our ongoing investigations.”

‘Cashgate’ unravelled following the shooting of former Budget Director Paul Mphwiyo in September last year.

Following Mphwiyo’s shooting huge sums of money in Malawi Kwacha, South African Rands and US dollars started showing up in unlikely places like car boots or under the pillow as the suspects were avoiding formal banking sector since the unexplained money could have raised eye-brows.

The scandal had prompted foreign donors — who provide around 40 percent of Malawi’s budget — to pull the plug on aid of around $150 million .

The Cashgate scheme is the biggest financial scandal in Malawi’s history since independent from Britain in 1964.

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35 replies on “Malawi cashgate loot up to K20bn from K13bn – report”

  1. this cash gate will die eventually and nothing will be done the looters are stlll n the spree of stealing right under the nose of ACB and the so called government, the poor are suffering and government is blind.

  6. Yes Malawians need to know about both cash gates which involved the Bingu administration of the92 billion kwacha and the 20 plus billion kwacha as revealed under JB administration . There is a lot of feet dragging on these issues? Its like Malawians are being taken for a ride

  7. Ikanakhala kuti dpp inaba K92b Joyce akanavumbulutsa,koma nkhani ili apa ndiya K20b.Joyce will soon face the charge.Mfiti yaikazi imalimba mtima.

  8. pp ulula dpp anadya nawo si ndinu amodzi mmangositha mawanga …..mukudziwana satinyasepo apa …….just build us anew stadium in blantyre zomba and mzuzu tikaonela mpira timasangalala osati zandale zanuzi zosapsa

  9. Why is Mulli of Mulli Brothers Limited given preferencial treatment at DPP Executive Meetings? Why is Airtel always bashing at DPP Government and Party Functions?

  10. And Dpp cadets are busy creating their own reports to share on facebook and whats app. Shameful indeed.

  11. Dont twist facts with funny jargons. 92 is audit query,while 4.8 is theft. Reasons: both payments had no supporting documents but happened at diferrent time and leadership.

  12. Is K20b similar to K92b which vanished during Bingu wa Mutharika of Bineth Trust Administration?

    You are just afraid to expose your own dirty laundry on the Line! You know already that with Cash Gate, the DPP Administration’s days in power are numbered,you just want to buy time to suit your political Vandata

    Is K20b similar to K92b? You must be crazy! Why are you not releasing the 2005 to 2013 Cash Gate Selection? The hands of DPP and Mulli Brothers Limited Administration are full of Cash Gate!

    Investigation,investigation forever,ever investigation You just want to edit the document to suit your political vandata and buy time and your monger to Power, As Malawians we are very skeptical with the DPP and Mulli Brothers Limited Administration…Why is Mulli present on the Executive meeting of DPP?

  15. Kkkkkk I said that these people started stealing while in DPP and mentioning them now will be costly on DPP as those in PP Will not sit phwiii going down without mitsamiro ya DPP. Its a time Bomb.

  16. Tikufuna liport la 92 billion kwacha, bwanji mwabisa liport limenelo? Tikufuna chilunkhamo chiwoneke basi.

  17. no 18 a Harrison peter analonjeza kuti adzachita defend malamulo a dziko la Malawi koma sadzabwezera kwa amene anamuchitira choipa choncho kwa amene walakwira lamulo ayenera akumane ndi chilango. amayi anuwo amalamurira ndalama za misonkho ya a Malawi ngati za pa banja pawo ayenera akumane ndi lamulo kuti wena aphunzire

  21. Akuba okha okha DPP,kuchotsa D i makhala chani? PP so zikusiyana pati mbava ndi mbava,cashgate tidzakayankha kwa mulungu basi, fedaralism woyeeee

  22. why is it taking so long to bring these culprit to book? its high time we started talking about this.we need to put a fullstop to this.

  25. All cashgaters must face the law without Lomweism. 92 billion & 20 billion was taken by these Satanists whom u call DPP & PP. Malawians know that PP is a direct product of DPP all are Full Time Thieves equal to hardcore criminals roaming our cities. Bingu ndi Macholowe amasiyana pati onse zigawenge zopa anthu Bingu ndi Pita anapa Chasowa. Pitala Mbava oopsa yoba nyumbu ya MHC uyu!

  26. when we reposted a comment we are told dublication detected,how come john did it smartly,is it becoz he has said about the unfounded 92 billion?secondly,Baker Tilly Banda baker tilly British which is which.

  27. Apa ndiye tingothawa guyz- zavuta baasi- mainawa akuoneka kuti pali ma dolo ma big heavy kkkkkkk- ndikumva kukoma zeeeeeeed

  29. So here are full results of all those who sat for Malawis cashgate scandal exams, On positon 1 is Democratic ndikunyenyanyenyani progressive major party with K92 billion phd points (distinction). Position 2 is peoples azungu andiuza minor party with a certificate of k20 billion points= may try. On position 3 is United amangwetu democratic front with k1.7 billion has passed certificate. Position 3 is malawi congres Aron gadama party with a certificate in blood on their hands award. Atsamunda did not sit for these exams.

  30. Matemba or ACB please don’t be over excited. Why are you adding the mk4.8b that is just an audit report? How different is this mk4.8b from the mk92b that now dpp and the auditor general are saying its just a report of payments made without proper support documents?

    this Means Support documents Can be Found and all This query can be cleared. Am a professional auditor talking to you. Please with all due respect leave the amount as per Baker Tilly report mk13b otherwise you seem over excited with names. Those are just names. I wish you were over excited with mk92b as well as compared to mk13b.

    I can’t see professionalism in you guys. Am neither dpp nor pp or mcp above all Never resides in Malawi and am financially well stocked. .

  33. Ok so as the 13 billion is going up( or should i say revised), what is happening to the 92 billion “audit query”. Is it going up or down? Kikiki…. So it it safe to say that even the names of the cashgaters are also being “revised?” Kikikik. I wonders whose names are being added now.

  34. Ok so as the 13 billion is going up( or should i say revised), what is happening to the 92 billion “audit query”. Is it going up or down? Kikiki

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