Malawi Stock Exchange listed firm MPICO has sealed offices for Mining Governance and Growth Support Project (MGGSP) for the project’s failure to settle rental arrears amounting close to K20 million.
MGGSP is a government funded project established in 2013 to improve efficiency, transparency and sustainability of the mining sector in Malawi.
Information gathered by Nyasa Times indicate sheriffs sealed the project’s offices, situated at Chief Kilipula bulding in Lilongwe’s Old Town on Thursday, October 18, 2018 following several futile attempts by the property investment company to get its arrears amounting to K19 231 733.00
MPICO management confirmed the development but refused to divulge more details.
Malawi government has been struggling to pay many of its landlords including MPICO, which is reportedly owed billions by the government.Follow and Subscribe Nyasa TV :