Wednesday, September 27Malawi's top news source
Shadow

Tag: Peter Simbi

Banks To Dump Khato

Banks To Dump Khato

What's Hot
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...
Simbi Battles K105bn Loan Blocked By FND

Simbi Battles K105bn Loan Blocked By FND

What's Hot
Daggers remain drawn in the controversy over K105 billion loans that two commercial banks are set to extend to Khato Civils for the implementation of the Salima-Lilongwe Water Project. Yesterday, events happened in quick succession as Khato Civils  moved the High Court of Malawi to stop a news conference Forum for National Development (FND) addressed in Lilongwe. Simbi Phiri owns Khato Civils Through its local lawyer Chancy Gondwe, Khato Civils applied for an injunction at the High Court of Malawi’s Commercial Division Blantyre Registry, but by the time the court granted the relief, FND had concluded its briefing. During the briefing, FND asked the Malawi Government to explain why it wants to borrow K105 billion on behalf of Khato Civils to finance the Lake Malawi Water P...
Lilongwe-Salima Water Project Commence This Year

Lilongwe-Salima Water Project Commence This Year

National
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 ...