‘Give us back our money’: Mera demands MK2 billion from Admarc
THE board of directors of the Malawi Energy Regulatory Authority (Mera) has demanded the recovery of funds amounting to K2.9 billion used to purchase maize for Agricultural Development and Marketing Corporation (Admarc) in 2016.
Mera purchased 10,000 metric tonnes of maize for Admarc with funds from the Price Stabilisation Fund in March 2016 on the understanding that Admarc would repay the funds from the proceeds of the maize sales.
In a statement signed by Mera Board Chairperson Reverend Joseph Bvumbwe, the board has directed its management to recover the money at all cost.
“The Mera board of directors has further directed Mera management to do everything possible to recover from Admarc the remaining proceeds of the sale of the maize for remittance to the Price Stabilisation Fund,” reads part of the statement.
In an interview yesterday, Bvumbwe has kept under wraps how soon Mera wants the funds back and said it would depend on how the management would work with Admarc officials.
“This is of serious interest to the board. We are very committed to make sure that we recover those funds as quickly as possible and our management has taken that very seriously. Internally, the tone of the board as we spoke to them, they know there is a deadline. At the same time, we do understand the dilemma with which our management will work to recover that kind of money,” he said.
Sources say Admarc has only repaid about K250 million. Commenting on the matter, Admarc Board Chairperson James Masumbu said he was not aware of the development and referred the matter to Chief Executive Officer Foster Mulumbe.
“I’m not aware as we speak but the CEO will be better placed to do so. But I remember last year we paid a chunk of money to Mera,” he said.
Mulumbe, who is on suspension, could not be reached on his mobile phone. The directive also follows the dismissal of Chief Executive Officer Raphael Kamoto and termination of a contract of employment of Elias Hausi the Director of Finance for flouting procedures of procurement and finance management in the purchase of maize.
On whether the board will take a step further on the dismissal of the officials above, Bvumbwe said they have left the rest to the fact finding team and other investigative authorities who have read the audit report.
Meanwhile, National Secretary for Catholic Commission for Justice and Peace Martin Chiphwanya has said while the officers have been disciplined, more needs to be done to ensure that nobody is spared since the matter is bordering on transparency and accountability.
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