President Peter Mutharika yesterday said he will let the oversight process into the Public Service Pension Fund Trust’s (PSPFT) purchase acinterference.
In response, governance groups yesterday urged him to take decisive action against officials who may be implicated in any wrong doing.
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In a statement yesterday, Mutharika—who said he has been closely monitoring the ongoing inquiry by the Public Accounts Committee (PAC) of Parliament into the controversial K128.7 billion hotel deal; said his administration’s commitment to transparency, accountability and the rule of law is absolute.
“The fact that this inquiry is taking place is proof of our resolve to let oversight institutions work without interference,” he said, adding that “the [PAC] has my full support. As I promised upon assuming office, I will not shield anyone involved in corruption. That promise remains unbroken.”
Mutharika described public office as “a sacred trust” and warned any misuse of public resources or influence for personal gain betrays that trust.
Meanwhile, Centre for Social Accountability and Transparency executive director Willy Kambwandira said the President’s stance must be followed by action.
“This matter involves significant public resources and raises serious questions about procurement integrity, value for money and possible abuse of office,” he charged.
Kambwandira emphasized that the inquiry should indeed proceed without political interference, with full disclosure of all contractual, financial and decision-making processes surrounding the transaction.
“Ultimately, the credibility of the President’s statement will be judged not by words, but whether the investigation leads to the truth being established, accountability enforced and any wrongdoing prosecuted regardless of the status and position of those involved,” he said.
In a separate interview, Human Rights Defenders Coalition chairperson Michael Kaiyatsa said the public expects full accountability for all those involved, no matter how powerful or politically-connected they may be.
“Malawians are tired of scandals that generate headlines, but end without consequences,” he said.
PAC chairperson Steve Malondera was not immediately available for comment yesterday on the President’s comments and those of the governance groups.
Two weeks ago, it was the Mutharika administration, through Minister of Finance, Economic Planning and Decentralisation Joseph Mwanamvekha, that urged Parliament to scrutinize the Amaryllis Hotel transaction and other PSPTF property acquisitions suspected to have been overpriced, including the former Sigelege Hotel, rebranded to Lifestyle Boutique Hotel, in Lilongwe.
“We are equally concerned like any of you and we would want to know the truth,” said the minister, adding that government is ready to support the inquiry with required resources.
On Thursday, Anti-Corruption Bureau (ACB) acting director general Gabriel Chembezi said the graft-busting entity would, within two days, issue a freeze order stopping payment of the balance to the seller, Yusuf Investment Limited.
The bureau has since ordered PSPFT to halt all further payments in the controversial K128.7 billion purchase of Amaryllis Hotel.
In a restriction notice dated March 13 2026, addressed to the fund’s acting principal officer, Chembezi ordered the pension fund not to proceed with any more payments related to the acquisition.
ACB acting public relations officer Jacqueline Ngongonda confirmed the authenticity of the restriction notice when contacted for comment yesterday.
At the Thursday hearing, Chembezi defended the ACB’s December 2025 clearance of the deal, stating that it had found no evidence of corruption or abuse of office and referred the matter back to the Attorney General’s (AG) office.
In turn, AG Frank Mbeta advised the PSPTF’s board to review risks involved, according to a letter he wrote to the Malawi Law Society (MLS), which had written his office seeking clarity on various concerns pertaining to the transaction.
The transaction has attracted debate on how the price escalated from an initial market value of K47 billion by Knight Frank as at July 13, 2023 to K128 billion last November.
