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The Board Chairperson of Smallholder Farmers’ Fertilizer Revolving Fund of Malawi (SFFRFM) Majorie Maluwa Phiri has told a joint Parliamentary Enquiry team that only the Ministry of Agriculture made a decision to reach a deal and pay K700million to a bogus United Kingdom-UK agent to supply fertilizers without thier knowledge.

Maluwa Phiri then explained that they knew of the business transaction later when they visited different countries looking for fertilizers.

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The Board Chairperson admits the existence of a cartel that manipulates fertilizer prices in the country and abroad.

She adds that K700million of money that was paid to a bogus UK agent was meant to lock prices of fertilizer, so that they buy at a low price.

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