Khato Civils – Malawi Freedom Network

National Bank of Malawi (NBM) plc and NBS Bank plc have asked the court to remove them as defendants in a case where the K105 billion financing for the Salima-Lilongwe Water Project has stirred controversy. Parliament approved the two local commercial banks to collectively extend the loan to Khato Civils, but Forum for National Development (FND) obtained an injunction to stop the banks from releasing the funds. Asked for a stay of FND injunction: Nyirenda In the case, the banks were defendants alongside the Attorney General (AG) while FND is the petitioner. Meanwhile, when the High Court of Malawi Commercial Division in Blantyre convened yesterday, lawyer for FND Edgar Kachere, asked for an adjournment as the defence served them the application late. But the defendants obje...

Government through ministry of Water and Sanitation has disclosed that the Lilongwe - Salima water project will start this year. The Project which is expected to extract water from Lake Malawi in Salima to Lilongwe, to address water challenges in Lilongwe and surrounding areas has been delaying due to many challenges. Among the challenges, government has been having issues with financiers of the project 'Quay Energy' which has been struggling to raise the necessary financing for the Project. Khato Civils through Quay Energy was mandated to secure about K322 billion for the project which government already gave a sovereign guarantee for, but this hasn't happened. Elias Chimulambe Principal Secretary for the ministry of Water and Sanitation said now government has found another ...

Tag: Khato Civils

Banks To Dump Khato

Lilongwe-Salima Water Project Commence This Year