The Malawi Law Society (MLS) has launched a scathing attack on the Acting Director General of the Anti-Corruption Bureau (ACB), accusing him of prematurely and questionably clearing officers implicated in the controversial planned purchase of the Amaryllis Hotel by the Public Service Pension Trust Fund (PSPTF).
In a strongly worded statement, MLS says the move by Acting ACB Director General Gabriel Chembezi casts “serious doubt” on the credibility, independence, and thoroughness of the Bureau’s purported investigation into the K128.75 billion transaction.
The Society has aligned itself with the position taken by the Reserve Bank of Malawi through the Registrar of Financial Institutions, who ordered a reversal of the transaction — a rare and dramatic regulatory intervention that underscores the gravity of the matter.
‘Public Must Be Told the Truth’
MLS is demanding full disclosure from the PSPTF trustees, Fund officers, and the Attorney General, insisting that Malawians deserve complete transparency on a deal involving billions in pension funds.
“In the spirit of accountability and transparency, we demand that the trustees and officers of the Fund and the Attorney General provide information to the public regarding the exact status of the transaction,” reads part of the statement.
The Society wants the following details made public without delay:
The final agreed purchase price
Any money already paid out
Full due diligence reports
The identity of any strategic partner or hotel operator
Specific advice, if any, obtained from the Reserve Bank
The demands come amid growing public outrage that the hotel was allegedly being acquired at K128.75 billion — a figure critics argue is grossly inflated and far above market value.
Conflict of Interest Questioned
In an unprecedented escalation, MLS has further called on Chembezi to declare his interest in the matter and recuse himself from handling the case, raising concerns about potential conflict of interest.
The call signals deep institutional mistrust and intensifies pressure on the ACB leadership at a time when the Bureau’s credibility is already under scrutiny.
Pensioners’ Money at Stake
The controversy erupted after revelations that PSPTF intended to purchase the Amaryllis Hotel in Blantyre using pension funds — money contributed by civil servants across the country.
Critics argue that if mismanaged or overvalued, the deal could expose pensioners to massive financial risk while benefitting a few well-connected players.
With the Registrar of Financial Institutions ordering a reversal and MLS openly challenging the ACB’s handling of the matter, the deal has now escalated into a full-blown governance crisis.
The spotlight now shifts to the trustees, the Attorney General, and the ACB — and whether they will comply with mounting demands for transparency or dig in deeper as public pressure intensifies.
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