Malawi Freedom Network 
By Our Reporter
Former Malawi Energy Regulatory Authority (MERA) chief executive Collins Magalasi has been arrested as investigators intensify their probe into the controversial Amaryllis Hotel transaction and the movement of billions of kwacha linked to the deal.
Magalasi’s arrest marks a major development in a case that has increasingly drawn attention to large cash movements surrounding the sale of the hotel.
The investigation is understood to be examining, among other issues, the withdrawal of K5.497 billion in cash from a Yusuf Investments account held at National Bank between January and March 2026.
Investigators are particularly interested in transactions involving approximately K5 billion, which, according to information emerging in the probe, was withdrawn through individuals allegedly acting as proxies.
The individuals are reportedly said to have been given an explanation that the cash was destined for State House.
It is now the responsibility of investigators to establish exactly what happened after the money was withdrawn.
Key questions include who authorised the transactions, who collected the cash, whether the money actually reached its alleged destination and how it was ultimately used.
Magalasi’s alleged connection to the transactions is expected to become a central part of the investigation following his arrest.
The development comes as scrutiny of the Amaryllis Hotel deal continues to grow, with concerns surrounding the handling and movement of substantial sums of money attracting attention beyond the ongoing law-enforcement investigation.
Parliament has also been examining the controversial cash withdrawals, adding another layer of scrutiny to a saga that has raised questions about financial accountability and transparency.
At this stage, the allegations remain allegations. Magalasi has not been convicted of any offence, and investigators will be required to establish the facts and present evidence in accordance with the law.
The arrest could, however, prove significant in determining the chain of events surrounding the billions linked to the Amaryllis transaction.
Malawi Freedom Network will continue following the investigation and report further developments as authorities provide more information.
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