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Court grants Dalitso Kabambe bail

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Lilongwe Chief Resident Magistrate Patrick Chirwa Wednesday granted bail to former Reserve Bank of Malawi (RBM) governor Dalitso Kabambe, former deputy governor Henry Mathanga, former director of financial market operations Roderick Whiyo and Senior Dealer Finance Market Operations Leah Donga.

The four men were on Tuesday charged with four counts including abuse of office, neglect of office and money laundering.

In granting the four bail, Chief Resident Magistrate Patrick Chirwa said the State had failed to give compelling reasons as to how giving bail to the four would jeopardise investigations into the matter.

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On Tuesday, State Prosecutor Levison Mangani had pleaded with the court to remand the suspects for 14 more days to allow the police to conclude investigations into the matter.

Kabambe, who handed himself over to police on Monday afternoon, could not hide his excitement after the bail was granted.

Among the bail conditions, the four suspects are expected to give a cash bond of K5 million each. In addition, each suspect is supposed to produce two sureties, who would each give a non-cash bond of K5 million.

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Chirwa has since set July 29 as the date when hearing of the matter would start.

The arrest of the four followed a forensic audit report which pointed at some alleged criminal activities at the central bank.

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