Thursday, May 8, 2025
No menu items!
spot_img
HomeNewsMwanamveka cleared in $350 million IMF loan case

Mwanamveka cleared in $350 million IMF loan case

By Chisomo Phiri

The High Court Financial and Crime Division in Lilongwe on Thursday May 8,2025,permanently discharged former minister of finance Joseph Mwanamveka from a case of misreporting to the International Monetary Fund (IMF ) relating to a 350 million USD loan the Reserve Bank of Malawi (RBM ) got from Afrixim Bank.

In court,Judge Redson Kapindu agreed with the defence that the state has failed to produce evidence linking the accused to the offence.

Mwanamveka



On his part,Mwanamveka’s lawyer, Kalekeni Kaphale, described the ruling as a milestone in the legal circles.

He hinted that he will make a similar application for one of the accused, Cliff Chiunda, adding that being someone (Chiunda) who was domiciled in his office had nothing to do with the case.

Mwanamveka and three others: Chunda,former Secretary to the Treasury; Henry Mathanga, former RBM Governor; Dalitso Kabambe, were arrested in 2022 but, he was discharged from the case in 2024 on grounds that there was no evidence, only to be brought back to the case when the state brought in new prosecutors in the case.

Meanwhile,the case will proceed against Chiunda,Mathanga, and Kabambe, with the next hearing set for June 4 to 5,2025.

RELATED ARTICLES
- Advertisment -
Google search engine

Most Popular

Recent Comments