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AHCX still operational despite sheriff sealing

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The AHL Commodities Exchange (AHCX) says it is still operational despite the sealing of its Lilongwe Old Town offices by sheriffs over a debt the exchange is contesting in court.

AHCX general manager Davis Manyenje said the matter of the sealing of the office, which happened about three weeks ago, is now in court after an appeal by the exchange.

“We are just waiting for the court to move,” said Manyenje.

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“Notwithstanding, we are operating and this is temporary as we seek legal redress. I would not comment on the substantive legal matters as it would be subjudice,” he said.

He admitted that the development would constrain some of its operations as the exchange is preparing for the trading season.

“We just started interfaces with farmers to ensure that they are informed of a better market and the activity has been constrained as some of the material is locked up,” he said.

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He said AHCX is also finalising export contracts for over US$250million and that this process has been inconvenienced and could delay because of the court matter.

AHCX had just finished the importation of maize for government and was processing payments to transporters when the sealing happened, thereby delayed payments to and inconvenienced transporters.

Manyenje said with the declaration of state of disaster, AHCX would have been the convenient and efficient platform to import maize and already had interest from suppliers for 600,000 tons of maize.

“However, without access to the offices and some critical documents, the assistance to government will be affected,” he said.

“We are, however, doing all we can through the legal means to ensure that the issue is resolved and offices reopened,” said Manyenje.

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