By Suleman Chitera
Attorney General Frank Mbeta has launched a strong rebuttal against sections of the media, accusing them of misrepresenting his role in the controversial acquisition of the Amaryllis Hotel, insisting he neither authorised nor endorsed the multibillion-kwacha transaction.
Appearing before Parliament’s Public Accounts Committee (PAC), Mbeta dismissed claims that his office gave a green light to the K128.7 billion deal, describing such reports as false and misleading.
“I did not authorise or endorse the purchase,” Mbeta told the committee in firm terms.
To clarify his position, the Attorney General referenced a letter dated December 20, 2025, in which he provided legal guidance to the Public Service Pension Trust Fund (PSPTF) board. He stressed that his advice was conditional and not an approval of the transaction.
“I advised the board to review the risks and ensure compliance with prudent investment principles and regulatory requirements before proceeding with the transaction,” he said.
Mbeta emphasized that the ultimate decision-making authority rested solely with the PSPTF Board of Trustees, which operates with full discretion under its trust deed and relevant pension laws.
He further pointed to findings from both the Anti-Corruption Bureau (ACB) and the Reserve Bank of Malawi (RBM), which found no evidence of corruption in the deal but raised concerns over prudential and financial management issues.
According to Mbeta, his role was strictly confined to offering legal counsel based on those findings, including reminding the board of its fiduciary responsibilities.
“My role is to ensure compliance with legal and regulatory requirements. Commercial issues are outside my mandate,” he said.
He also criticized media coverage for overlooking key aspects of his advisory, particularly the requirement that the board satisfy itself that all conditions had been met before proceeding with the purchase.
The Amaryllis Hotel deal has sparked intense public and political scrutiny, with questions centering on governance, accountability, and the stewardship of pension funds.
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