News
Former Malawi central bank chief charged with money laundering
30 Jun 2021

The former governor of the Reserve Bank of Malawi, Dalitso Kabambe, and three other former senior officials have been charged with four counts of financial impropriety, including money laundering, at a magistrates’ court in Lilongwe.

The charges on Tuesday follow his arrest on Monday and come in the wake of a forensic audit by Deloitte which showed the central bank made several irregular payments to companies linked to the former ruling Democratic Progressive Party, including to a local bank listed on the Malawi Stock Exchange.

Kabambe, who has denied any wrongdoing, has not yet entered a plea.

After being replaced at the central bank by the new president last year, he joined the Democratic Progressive Party and is seen as running for the party leadership before the next national election in 2025.

By Frank Phiri, Reuters, 29 June 2021

Read more at Reuters

Photo: World Bank Photo Collection [CC BY-NC-ND 2.0] via Flickr

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