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CDH Investment Bank reports K23.5 billion profit and 72% asset growth for 2024

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By Burnett Munthali

CDH Investment Bank has recorded a remarkable profit after tax amounting to K23.534 billion for the financial year ending December 31, 2024.

This impressive financial performance underscores the bank’s continued growth and resilience in Malawi’s competitive banking sector.

According to a summary of the bank’s audited accounts for the period, the year under review witnessed a significant expansion in total assets.

The bank’s total assets surged by 72 percent, growing from K311 billion in 2023 to K536 billion in 2024.



This asset growth reflects strong balance sheet management and an increase in the bank’s operational scope.

Additionally, customer deposits registered a healthy year-on-year growth of 27 percent, indicating increased customer confidence in the bank.

The bank’s loan book also experienced notable expansion, with loans and advances increasing by 28 percent during the same period.

Net interest income, a major driver of the bank’s profitability, doubled in 2024, representing a 100 percent growth over the previous year.

This growth points to improved lending practices, higher asset yields, and more efficient management of funding costs.

Non-interest income also contributed significantly to the bank’s earnings.

The bank recorded a 36 percent growth in non-interest income, which rose to K15.8 billion in 2024.

This category includes income from fees, commissions, and trading activities, showing diversification in revenue streams.

Overall, the bank’s net revenue grew by an impressive 76 percent.

This growth in net revenue illustrates the bank’s ability to leverage its operational strengths to generate income across multiple fronts.

The financial summary presenting these results was officially endorsed by the bank’s top leadership.

The endorsement came from the Bank’s Board Chairperson Franklin Kennedy, Chairperson of the Board Audit Committee Sydney Chikoti, Chief Executive Officer and Managing Director Thoko Mkavea, and Chief Finance Officer Kelvin Mkulichi.

Their signatures on the financial statement reinforce the institution’s commitment to transparency, accountability, and sound corporate governance.

The performance of CDH Investment Bank in 2024 positions it as a key player in Malawi’s financial services industry.

The significant profits and growth metrics also demonstrate the institution’s strategic direction and ability to adapt to evolving market dynamics.

The bank’s financial results will likely inspire continued investor confidence and open the door for further innovation and expansion in the coming years.

Storm over synod visit to APM: Was Mutharika misled or is Nkhoma Synod in damage control?

By Burnett Munthali

The political storm surrounding the alleged visit of CCAP Nkhoma Synod ministers to former President Arthur Peter Mutharika’s Page House has taken yet another dramatic turn.

What initially seemed like a symbolic pastoral engagement has now escalated into a full-blown controversy, questioning not only the Synod’s internal cohesion but also the former president’s understanding of the visit’s intentions.

The Synod, in an official statement dated April 15th, 2025, issued a categorical denial that the visit was sanctioned by its leadership.

According to the statement, only six of the Synod’s 267 ordained ministers were involved in the Page House meeting with Mutharika.

Gangata and Mutharika



This clarification has raised more questions than answers, particularly regarding the identity of the ministers involved and the nature of their discussions with the former head of state.

Critics are wondering whether Mutharika was misled into believing that the visit represented the broader position or endorsement of the Nkhoma Synod.

In the same vein, others are questioning whether the Synod itself is trying to distance itself from political controversy by portraying the ministers’ visit as a rogue act.

Social media and political commentary spaces have since been flooded with speculation and suspicion about the real motives behind the meeting.

Some observers argue that the Synod’s denial may be a form of damage control, particularly considering how politically sensitive such religious endorsements can become in Malawi’s charged electoral climate.

The timing of the visit—just months before the country heads into a crucial general election—adds more intrigue to the unfolding drama.

Mutharika, who remains an influential figure within the opposition Democratic Progressive Party (DPP), has not issued an official statement to clarify whether he viewed the visit as an endorsement or a private spiritual engagement.

However, sources close to the Page House event say the former president had received the ministers warmly and understood the meeting as a sign of goodwill and possible support.

If this is true, then the Synod’s public disavowal would come as a personal and political embarrassment to Mutharika.

It also raises critical questions about who organized the visit and what agenda was communicated to both the former president and the participating clergy.

Was it a case of miscommunication, political maneuvering, or deliberate deception?

The Synod’s leadership insists that it had no prior knowledge of the ministers’ visit and that it remains apolitical in line with its ecclesiastical mission.

But observers note that this is not the first time a religious body in Malawi has found itself entangled in political controversy.

Over the years, faith-based institutions have often struggled to maintain a delicate balance between prophetic witness and political neutrality.

The Nkhoma Synod’s denial of involvement may have been necessary to preserve its credibility and unity among its membership.

However, the damage—at least in the court of public opinion—may already have been done.

For now, the names of the six ministers who allegedly visited APM remain undisclosed, further fueling speculation and demands for transparency.

Civil society actors and commentators are calling for the Synod to conduct an internal investigation and publicly share its findings to restore confidence and dispel misinformation.

Others suggest that the incident could be symptomatic of deeper divisions within the Synod, where certain members may harbor political leanings that conflict with the official doctrine of neutrality.

If left unresolved, this incident could harm not only the image of the Nkhoma Synod but also its ability to engage credibly in national matters.

Meanwhile, political players on both sides are watching closely, recognizing that endorsements—or perceived endorsements—from major religious institutions carry significant weight among the electorate.

This story continues to develop, but one thing remains clear: either Arthur Peter Mutharika was grossly misinformed, or the Synod is now scrambling to cover tracks in an attempt to contain an internal mutiny.

Only time—and perhaps a full disclosure from both parties—will reveal the whole truth behind what really happened at Page House.

Until then, Malawians are left to navigate through a maze of official denials, strategic silences, and political undertones that continue to blur the lines between faith and power.

Magistrate court upholds charges against Alfred Gangata

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By Jones Gadama

The Lilongwe Magistrate Court has dismissed a request by businessperson Alfred Gangata’s lawyers to dismiss some of the charges he is facing.

Gangata is accused of falsifying tax records, forgery, uttering false documents from the Malawi Revenue Authority (MRA), and concluding a transaction without a tax clearance certificate.

Principal Resident Magistrate Benjamin Chulu delivered the ruling, stating that the charges are still relevant and the court will proceed with the trial. Gangata’s lawyer, Zwelethini Chipembere, had argued that some of the counts on the charge sheet are old and should be dropped.



However, the court disagreed, paving the way for the trial to continue.

The State Prosecutor, Watson Chirwa, expressed readiness to proceed with the trial on the set date of commencement.

The case has been adjourned to May 23, 2025, for further proceedings.

The allegations against Gangata stem from his alleged preparation of a false tax clearance certificate between 2017 and 2018 to meet the bidding process requirements advertised by the Lilongwe University of Agriculture and Natural Resources (LUANAR).

According to court documents, Gangata is accused of contravening Section 112(4) of the Taxation Act and Section 336 of the Penal Code.

The court’s decision to uphold the charges has significant implications for Gangata and the DPP.

The party has expressed concerns that the arrest warrant is a politically motivated move aimed at stifling the opposition’s momentum.

The DPP has vowed to continue its political activities, despite the intimidation tactics employed by the ruling party.

Gangata’s case has raised questions about the independence of the judiciary and the police’s impartiality in handling cases involving opposition figures.

As the country gears up for the 2025 general elections, the opposition has expressed concerns about the ruling party’s intentions to use state institutions to suppress dissenting voices.

The DPP has called upon the international community to take note of the developments and to exert pressure on the Malawi government to respect human rights and the rule of law.

The party has also urged its supporters to remain calm and to continue participating in peaceful political activities.

The case will proceed to trial on May 23, 2025, where Gangata will face charges of falsifying tax records, forgery, uttering false documents, and concluding a transaction without a tax clearance certificate.

As the drama unfolds, Malawians are watching with bated breath to see how the situation will play out.

The arrest warrant issued for Gangata has set the stage for a tense and potentially explosive political showdown in the lead-up to the 2025 elections.

Blantyre Police intensify security measures ahead of elections

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By Jones Gadama

Blantyre Police Station has ramped up intelligence-led operations to counter potential security threats in the city as Malawi prepares for the September 16 tripartite elections.

According to Officer-in-Charge Aubrey Kawale, the police station has taken several precautionary steps to ensure a peaceful electoral process.

Speaking during the station’s first quarter Executive Committee meeting, Kawale revealed that the police have conducted refresher training for officers on maintaining professionalism and handling violence during the election period.

Kawale


This training aims to equip police officers with the necessary skills to manage public order and ensure a fair electoral process.

The police are intensifying intelligence gathering to identify and counter potential security threats.

Community policing structures and stakeholder engagements have been activated to curb crime during the election period.

Blantyre Police Station Executive Committee Chairperson Geoffrey Mopiha emphasized the importance of community policing in maintaining security during the election period.

By engaging with local communities and stakeholders, the police aim to build trust and prevent crimes that could disrupt the electoral process.

The tripartite elections, scheduled for September 16, will see Malawians voting for councillors, members of Parliament, and the President.

Given the significance of these elections, the police are leaving no stone unturned in their efforts to ensure a peaceful and secure environment for voters.

The Malawi Police Service is committed to providing a secure environment for the elections, recognizing the crucial role that security plays in ensuring the integrity of the electoral process.

By intensifying intelligence-led operations and engaging with local communities, the police are well-positioned to respond to any security threats that may arise during the election period.

As the elections draw near, the police urge citizens to cooperate with them in maintaining security and preventing crimes.

By working together, the police and the community can ensure a peaceful and successful electoral process.

The police are well-prepared to handle any security challenges that may arise during the election period, and their efforts will play a critical role in ensuring the integrity of the electoral process.

In the run-up to the elections, the police will continue to work closely with local communities and stakeholders to identify and address potential security threats.

By doing so, they aim to create a secure environment that allows citizens to exercise their right to vote without fear or intimidation.

The success of the elections will depend on the ability of the police and the community to work together in maintaining security and promoting a peaceful electoral process.

The Blantyre Police Station’s efforts to intensify security measures ahead of the elections demonstrate their commitment to providing a secure environment for voters.

With their comprehensive approach to security, including intelligence-led operations and community policing initiatives, the police are well-equipped to handle any security challenges that may arise during the election period.

Dowa candidate promises change for Matekenya Rural Hospital

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By Vincent Gunde

An aspiring Member of Parliament for Dowa North East constituency Pemphero Phiri, says once he is elected into office on the 13th September, 2025 he will investigate the whereabouts of the funds government has been allocating for the construction of Matekenya Rural Hospital in the district.

Phiri said it is sad that for years, Matekenya Rural Hospital was being funded for its construction but some people have been diverting the funds for their own benefit speaking clearly that the people of Matekenya were being taken as a ladder for politicians to advance their political agendas.

He said the area-Matekenya is a neglected side by organizations implementing development projects due to its topography which include impassable roads, and the absence of the hospital is forcing many people to walk long distances to the Dowa District Hospital to access medical services.

Pemphero Phiri



He said the incumbent Member of Parliament for the area who is also Minister of Agriculture Sam Dalitso Kawale is on record having promised the people of Matekenya and chiefs that funds are readily available for the construction of Matekenya Hospital, but to this day, the promise has not come to be true.

Memories are still fresh that Matekenya Rural Hospital some years back, appeared on the list of completed projects which were being implemented in the district but visiting the site, there were only drainages, money meant for its construction entered into the crooked pockets.

During the reign of the DPP and Professor Arthur Peter Mutharika in 2015, there were plans to construct the new Dowa District Hospital to replace the old one which was built in 1931, Senior Chief Msakambewa offered for a site at Dzaleka Refugee Camp.

Msakambewa East ward councilor Martin Luka Phiri protested heavily in one of the full council meeting that this will double punishment to the people of Matekenya who already walk long distances to the old Dowa District Hospital.

A Malawi Congress Party (MCP) diehard of Mvera in Dowa district Mr. Rodgers Kamphangala, has thanked Pemphero Phiri for coming up with an initiative of investing money meant for the construction of Matekenya Rural Hospital in the district.

Kamphangala has also asked Phiri to extend the investigations to the M7 Road which run from Dzaleka Refugee Camp to Ntchisi to reach Malomo-Nkhotakota Road where it is alleged that the contractor for this road pocketed K2 billion in advance and government stopped him for delaying the start of the construction project.

He said the M7 Road and Matekenya Rural Hospital are in Dowa district and it has been sad that all chiefs and Members of Parliament for the district have been quiet not putting these projects as priority of the priority projects but praising government for nonsense.

The MCP diehard said it is his prayer that all the incumbent Members of Parliament for Dowa district are ousted from power on the 16th September, 2025 elections for new faces with mindset change ideas to be elected as new Members of Parliament for a change in the district.

“I am appealing to the people of Dowa North East constituency that if you want meaningful development projects in their area, vote for mindset change, power and money have failed to change the area, no second chance to the failures in the district,” he said.