Mwanamvekha issues rebuttal on Mulli’s loan deal with Malawi govt: ‘Am not involved’

Former governing Democratic Progressive Party (DPP) spokesperson on finance Joseph Mwanamvekha has dismissed as  callous propaganda linking him to have approved Mulli Brothers’ loan which the company acquired from Malawi Savings Bank (MSB) where he once served as the bank’s chief executive officer.

Mwanamvekha: If anyone is interested to know the truth, one may contact the Ministry of Finance or indeed OPC

Through the social media, some people are trying to align Mwanamvekha with the said loan agreement, which purportedly allowed Mulli to repay the loan over a period of 167 years, adding that Mwanamvekha was the CEO for the bank when the alleged deal was being signed.

Mulli Brothers Limited acquired K4.9 billion loan from  MSB during the Bingu wa Mutharika regime when Mulli Brothers owner Leston Mulli was a close ally of Bingu and later on with Peter Mutharika.

Mwanamvekha, the former Minister of Finance, Economic Planning and Development under Peter Mutharika, has categorically denied any role in such a loan deal.

“I left Malawi Savings Bank in 2009, and was succeeded by Kayisi Sadala who was himself removed from the bank in 2012 by former president Joyce Banda. Kayisi was replaced by Ian Bonongwe, and it was under Bonongwe when the bank was sold  by Privatisation Commission and at that time I was Minister of Industry, Trade and Tourism,” explained Mwanamvekha.

Mwanamvekha said if indeed the purported  loan repayment deal exists,  then he is not aware of it and he was never a signatory.

“If anyone is interested to know the truth, one may contact the Ministry of Finance or indeed Office of the President and Cabinet (OPC) for details,” he said.

The political temperature is fast rising in DPP over who should succeed Mutharika as president of  the party.  Mwanamvekha is one of the candidates who have expressed interest to contest for the position at the party’s forthcoming convention, but recently there has been a tendency by various factions within the party to throw mud at each other’s candidacy in order to gain unfair advantage.

Mwanamvekha with an impeccable, political and academic record has been town hall meetings for several weeks now targeting every district.

Newspaper columnist Ephraim Munthali commented that tith these meetings, Mwanamvekha is achieving three things: “First, he is demonstrating that he is a leader who wants to govern from the bottom-up by getting what the grassroots people—through their representatives—want in their communities. In that way, he is also projecting himself as a consensus builder.

“Second, he is transmitting this message by targeting all districts: he wants DPP to be a national party and that each district deserves special attention.

“Third, and perhaps most importantly, Mwanamvekha is introducing himself to DPP grassroots structures that are crucial to rebuilding the party and deciding who its next leader should be.”

According to the columnist, Mwanamvekha has understood, very early, that “flamboyance only excites a gullible few, but a coherent strategy that is backed by a strong ground game gives you the real goods.”

Follow and Subscribe Nyasa TV :

Sharing is caring!

Follow us in Twitter
25 Comments
newest
oldest most voted
Inline Feedbacks
View all comments
Soweto.
Soweto.
4 months ago

Does brutal face know what the rate of exchange to dollar was when his grandfather Bingu became President.? It was Kwacha 220 to a US Dollar. Foot sake you Mwanamweka Mwanamweka of the so called Professor Mutharika

Rocky Dada
Rocky Dada
4 months ago

The DPP is finished, they need new blood to lead them. I suggest they get someone who isnt connected with Mulhako, as from the look of things all major contestants are from the Lomwe belt. They need to prove that they are above petty tribal and regionalistic politics. Msaka is a better candidate with proper credentials outside the Lomwe, they are so many proper qualified uncompromised candidates out there who can fit this position. Otherwise they should forget! Malawians are very discerning bowadays and wont torelate mediocrity, you cant pull a fast one on them. They will do a proper… Read more »

Pewani
Pewani
4 months ago

My warning to MCP, Thinking that DPP, can not return to power, is the same thoughts that DPP had, that MCP will never rule this country again. People can only vote for MCP again if their livelihood improves.

Lizulu Gomani
Lizulu Gomani
4 months ago

Please Mr Gwede you have made your point. It’s like being at school, some pupils are smartly dress and look good and some are scruffy. Talk about the looting of the saving bank and other corrupt deals Mwanamweka has been involved in that’s what we want.

John Gwede
John Gwede
4 months ago

Bwana Mwanamweka chonde osatichititsa manyazi padziko lonse lapansi. Dziyang’anani pagalasi, mumawoneka ngati momwe mkaidi amaonekera pachithunzi chojambulidwa ndi apolisi. Chonde pitani mukadzigulire suti ya salaula, malaya, taye, ndi nsapato komanso kuposa chithunzi chanu. mwina utha kufunsa a Peter Mutharika kuti awapatseko suti yawo yakale. Koma siyani kuwoneka ngati wamisala ku Zomba Mental.

Last edited 4 months ago by John Gwede
Lottie
Lottie
4 months ago

Whoever was party to this deal can not be trusted.

Shocker
Shocker
4 months ago

Mwanamveka is very tribalistic and nepotistic; when he was CEO of MSB he vowed not to let any northerner be a manager at MSB. He knows it himself.

vavlov
vavlov
4 months ago
Reply to  Shocker

Even his face tells that he is a cruel man, and against northers. Can such an ugly face be a president?

Balata
Balata
4 months ago
Reply to  vavlov

Mwanamweka looks like a prison guard at Mikuyu Prison when it was still open. The man not only looks cruel he looks brutally cruel.

Ngombwax
Ngombwax
4 months ago
Reply to  Balata

Looking brutally cruel, eh? That’s a new one, hehehe. He’s a face which only a mother could love ….

King Zwathelini
King Zwathelini
4 months ago
Reply to  vavlov

Cruel, and sadistic Mwanamweka

Arthur Yo-yo
Arthur Yo-yo
4 months ago

osakhala wamanyazi Mwanamvekha. ndiwe munthu wachinyengo kwambiri pambuyo pa abale a Mutharika ndi Mulli.

nafundo zalo
nafundo zalo
4 months ago

wapanila cithumwa cake cija uyu

wakalekale
4 months ago

mr handsome,mukumukana mzanu lero?

nafundo zalo
nafundo zalo
4 months ago

koma kukana satsi fisi uyu. akukana ngati kuti kunalibeko iyeu ku RBM . no wonder governr ndi nzake anali pa cisalary ca 20 million pa mwezi. SAMBI. abale mpaka 167 years loan? or lease ya maloyo. utsilu bwanu nonsenu. stop this you ijiots mukutinamiza. crook uyuyu sakudziwa naye is sitting on the timed bomb. nde vuto la a malawi lori munthu tikuona ndithu akulakwitsa olo walakwa sitimamucosa nchito timangomusinthila ofesi ina. kodi how can people learn from theor mistakes. we are taming the bad behaviour ..no wonder the corruption is at the maximum. timaopanji kummanga munthu olakwitsa. let alone ?… Read more »

Read previous post:
Magistrate Chirwa  refuses to recuse himself in Bushiri extradition case, says won’t be biased

Magistrate Patrick Chirwa has refused to recuse himself from the case in which South African government wants Prophet Bushiri and...

Close