Malawi economist describes  K1 trillion plunder as treasonous

An economic expert has described as treasonous the Democratic Progressive Party (DPP) officials loot of government money which President Lazarus Chakwera put at K1.3 trillion (over $1 billion), citing the recent Auditor General’s report which looks into how the government managed its finances for the past two years.

Dr. Betchani Tchereni

Polytechnic-based economic expert Dr. Betchani Tchereni said the economic plunder during the Peter Mutharika administration was not only immoral but treasonous.

“Their aim was not only to loot but to bring down the country which is treasonous,” he said.

He said the K1.3 trillion plunder is 40 per cent of the national budget which Finance minister Felix Mlusu is to present in parliament in two months’ time.

He said the money was enough to construct health facilities, schools and help in the fight against covid-19.

Professor of Economics at Chancellor College Ben Kalua said the money was enough to put the country on its own feet without relying on donors.

President Chakwera in his address to the nation on Satruday warned people that stole public funds that should avoid seeking public sympathy but return what they stole as the law is going to take its course on them.

The President said,  among other things, the  Auditor General’s report shows that $10 million could not be accounted for, $1 million was used to pay for projects which were not completed and $400,000 was used for fuel without corresponding documents.

Chakwera said the scale of the plunder is worse than a 2013 corruption scandal known as Cash ate in which about $32 million government money was looted through dubious contracts, during the administration of former president Joyce Banda.

Since the Tonse Alliance came into power, there have been shocking revelations from some statutory corporations on how public resources were abused, in some cases allegedly involving officials of the former governing DPP.

The Anti-Corruption Bureau ACB) director general Reyneck Matemba described the plunder of public resources under the watch of DPP regime, jointly being investigated by State agents, as a ‘tsunami’ which supersedes that of Cashgate.

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George P
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George P

This is not good. If there were controls in place, how could it happen?

myfriend
Guest
myfriend

This is just a mere audit query and Chakwera made it public just to turnish DPP. I dont believe money of such magnititude can be taken without the country becoming at stand still. Chakwera is trying to create scapegoats so that he has an excuse for failing. If it is true that that money was stolen then it has nothing to do with the current fiscal years but past fiscal years. Chakwera should look at how much money has been collected now and how he will use it.

Central
Guest
Central

Kuganiza ngati nkhukutu uku!! How long should an audit query take before it is address by responsible officers!! Chakwera openly stated that the issues are from way back 26 years ago….. should the nation keep up watching because they are mere queries? Iwenso nde waonetsa kuti ndiwe m’modzitu wa anthu akubawo and from jerusalema university!! Fotseki zako, muzisanza ndalama zimanezi muonansooooooooooooooooooooo!

Mwini muzi
Guest

If it was for the past 26 years then he could not have been very specific about DPP.

myfriend
Guest
myfriend

But in those 26 years there was joyce banda yet Chakwera was singling out DPP this should tell you that he was being political aiming at shaming DPP. As things stand this is just a mere audit query and I dont think there is any truth. Let him prosecute now.

ERUTU
Guest
ERUTU

I award you the degree of Master of Arts in Imbecility for Poor Countries 😂

President Chisokonezo
Guest
President Chisokonezo

Please, know how to read audit reports. Everything is put in figures, but does not mean money is stolen. If mk 2 bn is made to purchase a car without authorising signatures does not mean 2 bn is stolen but there was no control over purchase. But you LL find all cars intact.

Nyusesi
Guest

Some dunderheads are believing these trillion figures. What was the national budget in these
two years? Do you mean the whole annual Budgets were stolen? Pedegu ku state House wawonjezatu bodza. Komabe muchila.

Katoto boy
Guest

We need auditors also to look into Chiwengo village where did Kamuzu got that money to built the village yet Malawi was very poor. Also investigate Chakwera whose bank statement did he use to get a student visa to study in America. He was not sponsored but used somebody’s bank statement. I will expose him because I know what he did and whose bank statement he used. Wasn’t that corruption yet he was going there to study theology

ERUTU
Guest
ERUTU

I award you the degree of Master of Arts in Imbecility for Poor Countries 😂

Chiwoko
Guest
Chiwoko

This is definitely treasonous. Charging them for money laundering and fraud is not good enough. They should also charged for treason as they were bringing an elected government down though illegally. The present Government should strive to recover the money no matter how expensive it will be. There is no point putting these people in prison and then when they come out to be enjoying the fruits of their plunder. Taking away their wealth will be a deterrent to future thieves.

Mbudye
Guest
Mbudye

That ultra-magnificent church that Chisale built in his home village must have cost enough money to build 3 decent primary schools in my home area.

Pakuti anthu a Mulungu amati Mulungu salandira zakuba, boma lirande kachisilo alisanduse school…📖 👉 📚

ERUTU
Guest
ERUTU

😂😂😂😂😂

Fake Economists on the ground beware!
Guest
Fake Economists on the ground beware!

Can those at Ministry of Finance and Reserve Bank please come out and clear this mist before politicians mislead the already misled nation! If indeed such a figure was stolen then it could have been in circulation and causing heavy economic turbulence. Inflation could have been skyrocketing to unimaginary levels. Likewise if the purpoted looters had invested in infrastructure, Malawi could have atleast one skyscraper but alas! Malawi is still the same like it was a decade ago. Don’t talk about such funds being externalized and invested outside because at the moment there is no system that can allow that… Read more »

Msundwe
Guest
Msundwe

Iwe ndiye bulutu qeni weni

malawi watsopano
Guest

Uzibweza ndalama zimenezo usayese ndimasewera pa social media pano, just be ready to return the money 💰 and face the consequences

ERUTU
Guest
ERUTU

Izi pano ai CADET

Michael Pundit
Guest
Michael Pundit

MUST READ ALL !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!⛔🚫⛔ This amounts being mentioned here are just the tip of the iceberg. Actual amount of this immoral and inhumane looting by DPP is MK 3.6 Trillion (USD 5Billion) looted in past 6 years under and by APM administration. The clear motive behind this was to destroy the country economically and nothing else. The masterminds of cash gate were late bingu and Goodall gondwe by bringing in IFMIS system. Cash gate started way back in 2006 by Bingu, until 2012, bingu stole USD 1Billion in 6 years. Close to 7 Billion USD has been swindled by DPP… Read more »

Nedi K
Guest
Nedi K

Tempted to believe this command of information and English. Mwe wanthumwe, ndikomokatu. Koma zoona?Awa amafuna kupitiriza kutilamulira. Ife akumudzi sititsata zinthu. People eating MONEY.

Nyusesi
Guest

Uchila

mchisala
Guest
mchisala

Plunder of such magnitude is indeed treasonous and perpetrators ought to be publicly hanged because they were an existential fiscal threat to the country and not the nonsense about ‘kuwukila boma chifukwa cholemba zomwe boma sizimasangalatsidwa nazo kapena kumatcha ku State House’!!!!!!!!!!!

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