Malawi Ex-Minister, Four Others Arrested in $250 Million Fraud Scandal

Former finance minister Joseph Mwanamveka and four other former government officials have been apprehended by Malawi’s police for their involvement in an alleged embezzlement scheme worth around $250 million.
The funds are said to have been misappropriated from two state-owned enterprises, Salima Sugar Company and Greenbelt Initiative.

Those arrested include former secretary to the president Lloyd Muhara, former treasury secretary Cliff Chiunda, and Collins Magalasi, the former CEO of Malawi’s energy regulatory authority. The arrests are coming after a 2023 audit of Salima Sugar revealed massive mismanagement of funds.

In total, nine individuals have now been arrested in connection with the fraud, with authorities still pursuing Henry Njoloma, the former acting CEO of Greenbelt Initiative, who remains on the run.
The five arrested on Monday will be brought before a court of law once police complete their statements.

The accused officials served under the presidency of Peter Mutharika from 2014 to 2020. Following Mutharika’s ouster in 2020, the Democratic Progressive Party (DPP) transitioned into the opposition, while President Lazarus Chakwera’s government took over.