BLANTYRE, MALAWI — Former Malawi Finance Minister Joseph Mwanamveka, along with four other ex-government officials, was arrested on Monday for allegedly embezzling a staggering 447.5 billion kwacha (approximately $258 million) from two state-owned companies: Salima Sugar Company and Greenbelt Initiative.
Among those arrested were Lloyd Muhara, the former secretary to the president; Cliff Chiunda, the ex-treasury secretary; and Collins Magalasi, the former CEO of the energy regulatory authority. Police spokesperson Peter Kalaya confirmed the arrests, which followed a 2023 audit revealing significant financial irregularities within the two companies.
The investigation into the fraud had already led to the detention of three individuals, including a former director of Salima Sugar, last year. With the latest arrests, the total number of suspects in the case has risen to nine. Authorities are still pursuing Henry Njoloma, the former acting CEO of Greenbelt Initiative, who remains at large.
These officials served under former President Peter Mutharika’s Democratic Progressive Party (DPP), holding their positions from 2014 to 2020, before the party lost power to current President Lazarus Chakwera. The ongoing investigation into the alleged embezzlement has raised concerns about corruption within Malawi’s government, leading to calls for greater accountability.