In a move to ensure that public funds are safe, the Reserve Bank of Malawi (RBM) has launched an alert system of government payment transactions.
The High Value Alert system will be sending notifications of any payment transaction above K50 million to several government officials.
Speaking during the launch of the system, RBM governor Dalitso Kabambe said the system is to be sending text messages and emails about payments for bids and contracts to several officials under the ministry of finance.
“From now onwards any payment whether bid or contractor, that transaction will be known by everyone,” said Kabambe.
Among government officials to be alerted include minister of finance as well as budget director and principal secretary in the ministry of finance.
Some years ago, Malawi witnessed massive looting of government funds at Capital Hill in Lilongwe when funds were paid for projects that never existed or for goods that were never delivered to government.
Over K20 billion was reported to have been siphoned from state coffers through such means.