The Centre for Democracy and Economic Development Initiatives has demanded immediate government intervention over alleged financial misconduct totaling billions of kwacha at Salima Sugar Company Limited, with accusations pointing to senior Malawi Congress Party officials and their associates. Executive Director Sylvester Namiwa stated that former Executive Chairman Wester Kossam approved a credit facility worth K1 billion to an MCP member and her son, who continue trading under various names without repayment, while separately authorizing K1.3 billion to ESTT Holdings for a Brazilian sugar shipment that never materialized.
The advocacy group questioned how Kossam maintained his position despite the Greenbelt Authority board being dissolved twice and called for the recovery of all compensation he received since August. CDEDI is pressing for criminal investigations, an independent audit of the company, and urged the Ministries of Finance and Agriculture to transfer the firm's loan to Export Bank, warning that monthly payments exceeding K1.1 billion threaten the institution's survival. The organization emphasized that the state-owned enterprise was established to benefit low-income consumers rather than political elites.
The advocacy group questioned how Kossam maintained his position despite the Greenbelt Authority board being dissolved twice and called for the recovery of all compensation he received since August. CDEDI is pressing for criminal investigations, an independent audit of the company, and urged the Ministries of Finance and Agriculture to transfer the firm's loan to Export Bank, warning that monthly payments exceeding K1.1 billion threaten the institution's survival. The organization emphasized that the state-owned enterprise was established to benefit low-income consumers rather than political elites.
