By Vincent Gunde
A leaked Parliamentary Committee Report on Public Accounts has faulted the Principal Officer for the Public Service Pension Trust Fund Mr. George Jim as influencing most decisions and correspondence to the acquisition of Amaryllis Hotel sale and not the Board of Trustees.
The Committee has found no evidence suggesting that the suspension of the Principal Officer on 27th October, 2025 and the appointment of the new Acting Principal Officer on 28th October, 2025 had undesirable influence on the signing of the Resolution authorizing the acquisition of the hotel saying the Resolution for acquisition was signed on 25th October, 2025 before the key personnel changes.
Controversy Surrounds Sale of Amaryllis Hotel
The Report has found no sufficient evidence to suggest corrupt practices or abuse of office by the public officers involved in the transaction of the Hotel sale advising the authorities that should such evidence emerge later on, government remains committed to prosecuting the persons involved in the courts of law.
The Report has also found no evidence that the Board of Trustees passed a Resolution on 17th January, 2024 not to proceed with the purchase of the Hotel based on a Fund Manager’s advice that the transaction was not viable.
On the contrary, the business assessments carried out by experts namely FDH Bank, Continental Asset Management Limited and EMJ Advisory Public Accountants Resolutions dated 30th June, 2023, May, 2024 and November, 2025 respectively indicated that the business of acquisition of Amaryllis Hotel was viable.
Controversial Amaryllis Hotel Purchase Sparks National Debate
In the Report, the Committee found no evidence that a new Board of Trustees reconstituted in September, 2025 was afforded sufficient time to appraise itself of the deal’s contentious history and there is also no evidence that the newly constituted Board was being unduly pressured to approve a transaction that a previous Board had rejected.
The Committee has recommended for the need to issue a Consent to Deal as there is a legally binding contract between the Public Service Pension Trust Fund (PSPTF) and Yusuf Investments Limited (YIL) owner of the Amaryllis Hotel.
The Committee has also recommended for the need to conduct further investigations as there are allegations that some officers of the Public Service Pension Trust Fund (PSPTF) were making unauthorized decisions of the Board of Trustees in the transactions for their own benefit and for the benefit of Jusuf Investments Limited (YIL).
PAC Pens Speaker On Colleen Zamba No Show
Making his quick reaction to the inquiry Report, a Malawi Congress Party (MCP) diehard of Mvera in Dowa district Mr. Rodgers Kamphangala, has thanked the people that have leaked the document describing them as patriotic citizens of the country encouraging others who have similar documents to share for Malawians to make informed decisions on whether the Report is reflecting the truth on Amaryllis Hotel acquisition.
However, Kamphangala said he has noted with a great concern that the Report has only exposed Mr. George Jim as behind making most decisions for the Pension Trust Fund and not the Board of Trustees and a call by the Committee to conduct further investigations for some allegations, saying this is giving a picture that the Report itself is incomplete.
” The public inquiry Report has left us with many questions, why Colleen Zamba, Garden City Properties, Knight Frank, Yusuf not interviewed, who inflated the figures of Amaryllis Hotel sale from K47 billion to K128 billion and the people behind withdrawing K5.5 billion in cash from National Bank of Malawi between January and March, 2026″ he said.
Kamphangala has warned the Committee not to play around with the souls of people, Malawians are not fools to receive an incomplete Report describing this leaked Report as a waste of public resources.
