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Former Salima Sugar Company Chairperson Sherieesh Betgiri denied bail in fraud and money laundering

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Former Salima Sugar Company Chairperson Sherieesh Betgiri denied bail in fraud and money laundering

By Chisomo Phiri

The Chief Resident Magistrate’s Court in Lilongwe has Friday denied bail to former chairperson for Salima Sugar Company Sherieesh Betgiri who is being accused of fraudulently obtaining a $300 million loan in Dubai in the name of the company.

The suspect applied for bail but the state argued that they need more time to investigate the matter adding that Betgiri is a fright risk hence he is a person of influence who can interfere with investigations if released on bail.

Sherieesh Betgiri



Chief resident magistrate Madalitso Chimwaza since gave the State seven days to conclude its investigations.

Senior State Advocate from the office of Director of Public Prosecutions (DPP) Dziko Malunda also informed the court that the State is likely to charge the suspect with more offences hence the request for additional time.

Betgi will therefore, be remanded at Maula Prison until July 3 2023 when the court will meet again to be briefed on the progress of the investigations by the State.

He was arrested on Wednesday this week .

Analysing importance of Malawi Carbon Market Initiative which President Chakwera has launched

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Analysing importance of Malawi Carbon Market Initiative which President Chakwera has launched

By Linda Kwanjana

On 23 June, 2023, all roads led to Malawi Botanical Gardens just a stone throwing away with the Malawi National Assembly.

People might wonder why the function took place at Botanical Garden , but the answer is simple , the garden is a hub as far as preserving Ecosystem is concerned.

This initiative which has been launched will help to replenish the environment.

This is what President Chakwera says on the importance of the launch;



“I have launched the Malawi Carbon Market Initiative, a profitable intervention that incentivizes our efforts of replenishing the environment.
This is one initiative that cements our aspiration of transitioning to a green economy. Our involuntary preference for such model of an economy comes at the back of the climate realities that have subjected us to devastating natural disasters over the years, more recently Cyclone Freddy,”

As a nation, we have every reason to prefer a green economy over an economy that degrades and destroys the environment.

According to the President there is need to seek the double benefits that come with unlocking of the largely untapped carbon markets and replenishment of the environment.

Estimates have it that if better utilized, carbon market can bring into our economy US$600 million annually.

The President has since appealed to everyone to enhance carbon marketing.

“I call upon each and every one of us to participate in building the capacity of our carbon markets and make them effective for the socioeconomic benefit of the nation.

Time to adopt climate-friendly practices in all our social and economic activities,” he said.

Skeffa in Tete at the invitation of Mozambican Government

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Skeffa in Tete at the invitation of Mozambican Government

By Linda Kwanjana

Musician Skeffa Chimoto is in Mozambique ahead of performances in Tete Province.

Chimoto will be performing in the Portuguese speaking country at the invitation of the Mozambican Government.

Chimoto is in Mozambique with all his band members including Dan Muyaya and others.

In an interview, Chimoto said he was so grateful for the invitation.

Happy Saka welcoming Skeffa Chimoto



The Jamming machine said his aim is to do a good job so that he is invited again in the future.

Malawi Consulate General Happy Jonathan Saka who welcomed the artist commended him for honouring the invitation.

Saka said this is the way to go in promoting culture and music among the two countries.

Chakwera reiterates commitment to build Green Economy

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Chakwera reiterates commitment to build Green Economy



By Kondanani Chilimunthaka

President Lazarus Chakwera has said Malawi has every reason to prefer a green economy over an economy that degrades and destroys the environment, hence his commitment and his administration towards the establishment of the Carbon Markets.

Speaking at the launch of Malawi’s Carbon Markets Initiative at Botanic Gardens in the capital Lilongwe, Chakwera told the nation that Malawi has potential to generate over $600 million with close to 20 million metric tons of carbon per year, adding that it is the reason why he appointed two of his Ministers (Minister of Finance and Minister of Natural Resources and Climate Change) to jointly establish and champion the Malawi Carbon Market Initiative and to optimize it for economic growth.



“Four months ago in my State Of the Nation Address, I mentioned that my Administration was going to pursue carbon markets through the partnership we had already established with the African Carbon Markets Initiative for the scaling up of our carbon credit production. Today, with the launch of Malawi own Carbon Markets Initiative, we are fulfilling that promise and positioning our country for prosperity as a green economy”. Said the President.

Further, Chakwera told the nation that the country has over 1 million hectares of designated forest reserves and over a million hectares of land under wildlife conservation reserves which both can be traded for carbon credits making Malawi’s potential for carbon trading so huge.

However, President Chakwera said he realizes that the initiative and the commitment by his administration to building a green economy that balances the prosperity with environmental sustainability has not gone down well with other quotas as they are beneficiaries of devastating outcomes due to environmental challenges.

Here President Chakwera challenged that his administration will see to it that a green economy is fully established, saying it is possible and necessary to build economic prosperity and environmental sustainability at the same time for country’s development.

Veteran insurer Chris Kapanga now Standard Bank Chairperson

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Veteran insurer Chris Kapanga now Standard Bank Chairperson

By Chisomo Phiri

Malawi’s veteran insurer Chris Kapanga is now Standard Bank Chairperson following his appointment by the bank’s Board of Directors on Thursday

According to the board, Kapanga,takes over from Ngeyi Ruth Kanyongolo who has retired as director for the Malawi Stock Exchange listed bank.

Kapanga who is now 63 years old holds a Master’s Degree in Business Administration (MBA) from the University of Cape Town (UCT).

Chris Kapanga



He has previously served on the boards of Marsh Insurance Brokers Malawi and Blantyre Sports Club as Chairperson and as Non-Executive Director on the boards of Press Corporation, National Bank of Malawi, Pride Malawi, Old Mutual Infrastructure Fund and Mwaiwathu Private Hospital.

The veteran insurer is also a Member of the National Planning Commission (NPC) Core Advisory Panel and the Malawi Council of Legal Education.

However,his appointment for the position is with immediate effect.

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