{"id":76667,"date":"2026-02-27T21:03:02","date_gmt":"2026-02-27T21:03:02","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal"},"modified":"2026-02-27T21:51:17","modified_gmt":"2026-02-27T21:51:17","slug":"sestu-demands-psptf-board-resignation-over-hotel-deal","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal","title":{"rendered":"Sestu Demands PSPTF Board Resignation Over Hotel Deal"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Malawi. <\/strong><\/span>The Secondary School Teachers Union (SESTU) has demanded the resignation of the Board of Trustees of the Public Service Pension Trust Fund (PSPTF) within three weeks following the fund\u2019s controversial attempt to purchase the Amaryllis Hotel without consulting key stakeholders.<\/p>\n<p>SESTU says the attempted acquisition has raised serious concerns about the prudence, transparency and fiduciary responsibility of the board in managing pension contributions made by thousands of public servants, including teachers.<\/p>\n<p>According to the union, teachers contribute to the pension fund every month from their modest salaries with the legitimate expectation that their retirement savings will be safeguarded and invested wisely to ensure sustainable growth and financial security after retirement.<\/p>\n<p>\u201cThe circumstances surrounding this transaction have significantly undermined our confidence in the board\u2019s stewardship of our funds,\u201d said SESTU General Secretary, <b>Frank Druwen Moyo<\/b>.<\/p>\n<p>SESTU argues that the board\u2019s decision to pursue the purchase has sparked widespread concern among members, especially amid reports that the hotel was being considered for acquisition at a substantially higher and questionable price after an earlier offer had been rejected at a lower cost.<\/p>\n<p>The union has since commended the Executive Director of Financial Institutions\u2014who also serves as Governor of the Reserve Bank of Malawi (RBM)\u2014for intervening and directing that the transaction be rescinded.<\/p>\n<p>SESTU says the RBM\u2019s action demonstrates a strong commitment to safeguarding the interests of pension contributors and upholding financial prudence in the management of pension funds.<\/p>\n<p>\u201cWe demand the resignation of the PSPTF Board within three weeks. Such a step would pave the way for independent and transparent investigations into the board\u2019s resolution to purchase the hotel at a substantially higher and questionable price after an earlier rejection at a lower cost,\u201d Moyo said.<\/p>\n<p>He warned that failure by the board to comply with the demand would leave the union with no choice but to pursue further action.<\/p>\n<p>\u201cFailure to heed this demand will compel SESTU to take appropriate action to ensure accountability. Any consequences arising therefrom shall rest solely with the board,\u201d he added.<\/p>\n<p>SESTU has since formally written the PSPTF board notifying them of the union\u2019s demand for their resignation.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Malawi<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Malawi. The Secondary School Teachers Union (SESTU) has demanded the resignation of the Board of Trustees of the Public Service Pension Trust Fund (PSPTF) within three weeks following the fund\u2019s controversial attempt to purchase the Amaryllis Hotel without consulting key stakeholders. SESTU says the attempted acquisition has raised serious concerns about the prudence, [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":76666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[234],"class_list":["post-76667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-malawi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Sestu Demands PSPTF Board Resignation Over Hotel Deal - Malawi<\/title>\n<meta name=\"description\" content=\"The Secondary School Teachers Union (SESTU) has demanded the resignation of the Board of Trustees of the Public Service ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sestu Demands PSPTF Board Resignation Over Hotel Deal\" \/>\n<meta property=\"og:description\" content=\"The Secondary School Teachers Union (SESTU) has demanded the resignation of the Board of Trustees of the Public Service ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2026-02-27T21:03:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-27T21:51:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2026\/02\/sm_1772229002.214306.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Sestu Demands PSPTF Board Resignation Over Hotel Deal\",\"datePublished\":\"2026-02-27T21:03:02+00:00\",\"dateModified\":\"2026-02-27T21:51:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal\"},\"wordCount\":379,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2026\/02\/sm_1772229002.214306.jpg\",\"keywords\":[\"Malawi\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal\",\"name\":\"Sestu Demands PSPTF Board Resignation Over Hotel Deal - Malawi\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2026\/02\/sm_1772229002.214306.jpg\",\"datePublished\":\"2026-02-27T21:03:02+00:00\",\"dateModified\":\"2026-02-27T21:51:17+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The Secondary School Teachers Union (SESTU) has demanded the resignation of the Board of Trustees of the Public Service ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2026\/02\/sm_1772229002.214306.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2026\/02\/sm_1772229002.214306.jpg\",\"width\":1280,\"height\":720,\"caption\":\"Sestu Demands PSPTF Board Resignation Over Hotel Deal\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/malawi\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sestu Demands PSPTF Board Resignation Over Hotel Deal\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#website\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/\",\"name\":\"Malawi\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/malawi\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Sestu Demands PSPTF Board Resignation Over Hotel Deal - Malawi","description":"The Secondary School Teachers Union (SESTU) has demanded the resignation of the Board of Trustees of the Public Service ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal","og_locale":"en_US","og_type":"article","og_title":"Sestu Demands PSPTF Board Resignation Over Hotel Deal","og_description":"The Secondary School Teachers Union (SESTU) has demanded the resignation of the Board of Trustees of the Public Service ...","og_url":"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal","og_site_name":"Malawi","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2026-02-27T21:03:02+00:00","article_modified_time":"2026-02-27T21:51:17+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2026\/02\/sm_1772229002.214306.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Sestu Demands PSPTF Board Resignation Over Hotel Deal","datePublished":"2026-02-27T21:03:02+00:00","dateModified":"2026-02-27T21:51:17+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal"},"wordCount":379,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2026\/02\/sm_1772229002.214306.jpg","keywords":["Malawi"],"articleSection":["all news","policy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal","url":"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal","name":"Sestu Demands PSPTF Board Resignation Over Hotel Deal - Malawi","isPartOf":{"@id":"https:\/\/www.africa-press.net\/malawi\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2026\/02\/sm_1772229002.214306.jpg","datePublished":"2026-02-27T21:03:02+00:00","dateModified":"2026-02-27T21:51:17+00:00","author":{"@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The Secondary School Teachers Union (SESTU) has demanded the resignation of the Board of Trustees of the Public Service ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#primaryimage","url":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2026\/02\/sm_1772229002.214306.jpg","contentUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2026\/02\/sm_1772229002.214306.jpg","width":1280,"height":720,"caption":"Sestu Demands PSPTF Board Resignation Over Hotel Deal"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/sestu-demands-psptf-board-resignation-over-hotel-deal#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/malawi\/"},{"@type":"ListItem","position":2,"name":"Sestu Demands PSPTF Board Resignation Over Hotel Deal"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/malawi\/#website","url":"https:\/\/www.africa-press.net\/malawi\/","name":"Malawi","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/malawi\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts\/76667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/comments?post=76667"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts\/76667\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/media\/76666"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/media?parent=76667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/categories?post=76667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/tags?post=76667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}