By Burnett Munthali
The Public Accounts Committee (PAC) of Malawi’s Parliament has reopened its inquiry into the purchase of Amaryllis Hotel by the Public Service Pension Trust Fund, with former Registrar of Financial Institutions MacDonald Mafuta Mwale appearing before the committee today.
The committee is investigating the K128 billion deal, amid allegations of corruption and overpricing.
The committee has also summoned Yusuf Investment Limited, owners of the hotel, former Secretary to the President and Cabinet Colleen Zamba, Chief Secretary Justin Saidi, and National Bank of Malawi.
PAC Chairperson Steven Baba Malondera stated that Yusuf Investment Limited had requested a private hearing, but the committee rejected the request, insisting on transparency.
Yusuf Investment Limited had been scheduled to appear before the committee on April 23, but requested a postponement, citing the owner’s illness and treatment in South Africa.
The committee has rescheduled the appearance to April 29, emphasizing that proceedings will not be unduly delayed.
If Shiraz Yusuf remains unable to attend, board members of Yusuf Investment Limited, including Yusuf Shiraz Yusuf, will be required to appear before the committee.
Meanwhile, the committee has not received any communication from Colleen Zamba, who is expected to appear on April 28, and will proceed with the hearing as scheduled.
The Amaryllis Hotel deal has sparked widespread outrage, with allegations of inflated pricing and corruption.
The hotel was sold to the Public Service Pension Trust Fund for K128 billion, despite independent valuations estimating its value at around K48 billion.
