Africa-Press – Malawi. LILONGWE-(MaraviPost)-The country’s rights group, Centre for Democracy and Economic Development Initiatives (CDEDI) has written the Reserve Bank of Malawi (RBM) Governor Wilson Banda to act on Mount Meru Millers’ failure to account for proceeds from sugar export in Rwanda.
CDEDI’s action follows a Forensic Audit Report the Malawi government commissioned on Salima Sugar Company Limited (SSCL) which exposed Meru’s fiscal fraud In a letter dated December 5, 2023, which The Maravi Post Post has seen, CDEDI wants RBM to act on the company.
“Right at the onset, CDEDI would like to draw your attention to pages 28 and 29 of the Forensic Audit Report the Malawi government commissioned on Salima Sugar Company Limited (SSCL) 5.1.7 under the sub-headline Malawi Kwacha Capital Contribution Repayments.
“The last paragraph on page 28 reads in part “SSCL supplied 1,500 MT of sugar inventory to Mount Meru Millers Limited and also provided an export clearance letter to the Malawi Revenue Authority (MRA) for Mount Meru Millers Limited to export 12,000 MT of Sugar,” reads part of CDEDI statement signed by its Executive Director Sylvester Namiwa.
Namiwa adds, “CDHIB did not issue any release order in favour of Mount Meru Millers Limited, implying that this sugar was delivered without the approval of CDHIB. Mount Meru Millers Limited sold SSCL sugar in Rwanda and no sale proceeds were declared to the Reserve Bank of Malawi.”
“Needless to remind you, Sir, that the economy is on its knees due to the acute scarcity of forex. It is, therefore, our expectation that matters of non-remittance of export proceeds ought to be treated with the seriousness they deserve”.
He demands, “CDEDI, therefore, is requesting your office to act on the aforementioned, and ensure that the said proceeds are recovered and that Malawians are informed of the same in line with both the Republican Constitution and the Access To Information (ATI) Act”.
Mount Meru Millers authorities are yet to respond on the matter.
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