Former president Joyce Banda appears in the US FinCEN files which have revealed how some of the world’s biggest banks have allowed criminals to move dirty money around the world as she was investigated over Malawi government’s arms procurement deal with South Africa’s Paramount Group. Financial Crimes Enforcement Network (FinCEN), an agency in the US Department […]
The Ministry of Health which was accused last of going behind the Anti-Corruption Bureau (ACB) to issue the controversial K4 billion ambulance contract to Paramount Holdings has again awarded the firm another deal to supply motorcycles after seeking a ‘No Objection’ from the Public Procurement and Disposal of Assets (PPDA). Last year, Government Contracting Unit (GCU) […]
Malawi government paid 90 percent of a renegotiated controversial $145-million defence deal signed in 2013 with South African-based arms company the Paramount Group, Treasury spokesman Alfred Kutengule has confirmed. The deal was signed during the administration of former president Joyce Banda but the Peter Mutharika administration had renegotiated it, saying the contract was “too expensive” […]
President Peter Mutharika’s government has succeeded in slashing a controversial $145-million defence deal Malawi signed with South African-based arms company the Paramount Group, saying the contract was “too expensive” and not subjected to “proper analysis”. Malawian Finance Minister Goodall Gondwe said last week that after talks with Paramount, a 2013 credit agreement covering the supply […]
Third defence witness for MacDonald Kumwembe in the ongoing case of attempted murder of former Budget Director Paul Mphwiyo, Dauka Manondo told the High Court in Lilongwe that Mphwiyo and accused Pika Manondo were in South Africa to strike a deal worth $145 million (about K58 billion) with Paramount Group, Africa’s largest private defence and […]
Malawi government set to renegotiate a deal worth $145 million (about K58 billion) with Paramount Group, Africa’s largest private defence and aerospace firm, which signed deals with the Malawian government for agriculture, fuel and military contracts through a network of investment firms. Finance Minister Goodall Gondwe said earlier it had cancelled the deal with Paramount […]
Malawi Government has claimed “making progress” with the investigations on whether the sale of the presidential jet during the PP administration were fuelled by kickbacks and corruption. Government said it wants to establish the truth about the disposal of the French-made jet to Bohnox Enterprises Limited, a subsidiary of Paramount Group, a South Africa-based defence […]
South African arms dealer Ivor Ichikowitz’s formerly cosy relationship with the Malawian government has run into stiff headwinds since the election of a new administration under President Peter Mutharika. Last week two government ministers said a defence contract clinched between former president Joyce Banda and Ichikowitz’s Paramount Group had been partly cancelled and placed under […]
Malawi government has not cancelled a $145 million (about K58 billion) arms deal with South Africa’s Paramount Group but is renegotiating a new contract based no new terms, Finance Minister Goodall Gondwe and Paramount have confirmed. Gondwe was quoted in newspaper report on Saturday for saying that agreement between the Malawi Government and Paramount Group “has been […]
Malawi has cancelled a deal worth $145 million (about K58 billion) with Paramount Group, Africa’s largest private defence and aerospace firm, which signed deals with the Malawian government for agriculture, fuel and military contracts through a network of investment firms. According to published report, government has cancelled the deal with Paramount Group, which was engaged, […]
Malawi Government has said that it plans to launch a probe into the controversial sale of the country’s presidential jet by the former government of Joyce Banda. The announcement comes barely days after the current government of Arthur Peter Mutharika launched fresh forensic audit in the Capital Hill Cashgate in which billions of kwachas were […]
Malawi President Joyce Banda and her Minister of Finance Maxwell Mkwezalamba have chosen to differ on statements of facts related to the use of proceeds from the controversial sale of the presidential jet thereby maintaining serious inaccuracies to the deal. Mkwezalamba told journalists last Wednesday jet sale proceeds $15 million (about K6.3 billion) did not […]
Malawi cabinet approved the sale of a luxury 14-seater presidential jet but never authorised barter trade, senior cabinet minister who Nyasa Times asked have disclosed. Finance Minister Maxwell Mkwezalamba said the $15 million (about K6.3 billion) proceeds from the jet sale never went into government’s consolidated account and instead the Attorney General facilitated the transfer […]
Finance Minister Maxwell Mkwezalamba said on Wednesday that Malawi government used the proceeds made from the sale of the Presidential jet to pay arms dealer Paramount Group of South Africa to clear outstanding debt. Mkwezalamba providing a breakdown to journalists of how the proceeds from the jet sale were spent, said at a news conference at Capital […]
It does not rain but pour for the cashgate riddled Joyce Banda government as it has been embroiled in another ‘jetgate’ scandal with published reports saying the $15 million (about K6.3 billion) proceeds from the sale of the presidential jet have vanished. Reserve Bank of Malawi (RBM) has no record of the money and Treasury […]
African arms group, Paramount has disputed a report in Britain’s Telegraph newspaper that the company was helping Malawian President Joyce Banda to subvert her pledge to get rid of the impoverished country’s costly presidential jet. The Telegraph reported that a company linked to Paramount had bought the Dassault Falcon 900EX from the Malawi government last […]
A controversial African arms group , Paramount which has already signed deals with the Malawian government for agriculture, fuel and military contracts through a network of investment firms brokered a deal for the Malawi to equip its peacekeeping troops in the Democratic Republic of Congo. This has been reported by UK broadsheet daily The Telegraph. Malawi’s government said […]