Lilongwe — Suspended Principal Officer for the Public Service Pension Trust Fund (PSPTF), George Jim, has denied allegations that he was pressured by the current administration to facilitate the controversial purchase of the Amaryllis Hotel.
Appearing before Parliament’s Public Accounts Committee (PAC), Jim told lawmakers that he did not receive any directives from the incumbent government to fast-track the transaction. Instead, he attributed past pressure to officials from the previous administration.
“During the MCP administration, I was receiving pressure from the former Secretary to the President and Cabinet, but under the current ruling government, no one pushed for the speedy completion of the hotel purchase,” Jim said.
He specifically pointed to Colleen Zamba, who served as Secretary to the President and Cabinet during the Malawi Congress Party (MCP)-led administration, as the source of the pressure he experienced at the time.
Meanwhile, PAC Chairperson Steve Baba Malondera said the committee’s inquiry into the transaction is ongoing, with more witnesses expected to testify.
“We are still examining the circumstances surrounding this matter and will be calling additional witnesses to help establish the full picture,” Malondera said.
The committee is probing the PSPTF’s acquisition of the Amaryllis Hotel at a cost of K128.7 billion — a figure that has raised concern among stakeholders and the public. The price represents a sharp increase from an earlier valuation of K47 billion conducted by Knight Frank in July 2023.
The significant disparity between the initial valuation and the final purchase price has triggered debate over possible financial mismanagement and due diligence failures in the transaction.
As part of the ongoing investigation, Attorney General Frank Mbeta is scheduled to appear before PAC on Wednesday at 9:00 a.m. to provide further clarification on legal and procedural aspects surrounding the deal.
The outcome of the inquiry is expected to play a critical role in determining accountability and guiding possible reforms in the management of public pension funds in Malawi.
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