By Linda Kwanjana
Minister of Finance is not involved in the dubious controversial sale of the five Star Amaryllis Hotel. Minister of Finance Joseph Mwanamveka in his capacity under the Government protocal and setup does not interfere on the payment of the independent organization let alone controversial Amaryllis Hotel.
This is the same reason that while addressing Parliament, Minister of Information Shadric Namalomba urged the public to stop blaming the Democratic Progressive Party (DPP) government for the purchase of the Amaryllis Hotel, saying the process began in 2023 during the Malawi Congress Party (MCP) administration.
Namalomba made the remarks following a presentation by MCP spokesperson on Finance, Economic Affairs and Decentralisation, Peter Dimba, during his contribution to the national budget debate in Parliament.
According to Namalomba, it is incorrect to hold the DPP government responsible for the hotel purchase, as the process was initiated before the party assumed power.
He further explained that the Minister of Finance has no direct role in managing pension funds, noting that the Public Service Pension Trust Fund (PSPTF) operates as an independent institution.
Namalomba added that the Minister of Finance is therefore not responsible for the payments involved in the purchase of the Amaryllis Hotel.
The sale of Amaryllis Hotel has sparked controversy, with allegations of irregularities and overpricing. The hotel was bought by the Public Service Pension Trust Fund (PSPTF) for K128.7 billion, nearly triple the initial valuation of K47 billion in 2023. The Reserve Bank of Malawi (RBM) has ordered the reversal of the purchase, citing disobedience of directives and breach of financial laws .
The deal has raised questions about transparency and accountability, with some arguing that the price increase was due to factors like inflation and devaluation of the kwacha. The government has asked Parliament to scrutinize the deal, and investigations are ongoing.
The PSPTF boards have defended their actions, saying decisions were based on professional advice and proper procedures. However, critics argue that the purchase was not commercially sound, given the hotel’s losses and reliance on government business.
