…demands repayment of money used for maize purchase
It is now not raining but pouring for Agriculture Development and Marketing Corporation (Admarc) as Malawi Energy Regulatory Authority (MERA) has demanded the grain marketer to repay money which was taken from the authority’s Price Stabilization Fund and used to buy maize.
The development follows recommendations by a disciplinary committee that was looking into the controversial maize purchase that MERA bosses sanctioned.
The then Chief Executive Officer of MERA Raphael Kamoto and former director of finance Elias Hausa are reported to have not complied with the law by taking K3 billion from the Price Stabilisation Fund to buy maize.
The matter tested bitter to Kamoto and Hausa as MERA board through its disciplinary committee fired them.
According to a statement made available to Malawi24, MERA board has also demanded a reimbursement of the money.
“The MERA board of directors has further directed MERA management to do everything possible to recover from Admarc the remaining proceeds of the sale of the maize for remittance to Price Stabilization Fund,” reads part of statement signed by board chairperson Reverend Joseph Bvumbwe.
The statement further applauded Malawians for being “patient” to allow an investigation on the matter.
However reports show that Malawians are shunning maize from Admarc due to high prices when compared to prices offered by vendors.
