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Mwananvekha, Phiri & Kabambe arrested

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By Rebecca Chimjeka

Malawi Police Service has confirmed the arrest of former minister of Finance Joseph Mwanamveka, and
Former Reserve Bank Governor Dalitso Kabambe on suspicion that they committed an offence of abuse of office, contrary to section 95 (1) and procured the commission of an offence of fraudulent false accounting contrary to section 335 (A) of the Penal Code.

Malawi Police spokesperson James Kadzera has confirmed.

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According to Kadadzera, the two, whilst serving as Minister of Finance and Reserve Bank Governor respectively, procured and masterminded the falsification of Gross Liability and Net Reserve Base returns with intent to
make International Monetary Fund believe that the Government of Malawi was meeting conditions
connected to the Extended Credit Facility.

As a result of this scheme, IMF suspended the said Extended Credit Facility to the prejudice of innocent ordinary Malawians.

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