President Lazarus Chakwera has declared his assets valued at K272 million and they include a Hummer given to him as a gift as well as K900,000 book balance.
Chakwera has declared his assets to Office of the Director of Public Officers’ Declarations just over a month after he was elected president in the June 23 Presidential Elections.
The Malawi leader’s property include a house in Area 6 (Plot no 6/623) valued at K60 million, a house in Area 49 (Plot no. 49/5/167) worth K40 million and a house in Area 10 (Plot no. 10/576) worth K80 million.
There is also Kaphiri 2 Farm at Kasiya in Lilongwe which he inherited from parents and a plot at Nyangulu Village in Salima which he bought at K1 million using Parliament gratuity.
On vehicles, Chakwera has listed a Mercedes Benz (BS 1835) worth K4.5 million, a Range Rover (MC 969) valued at K9 million and an Isuzu ELF 250 worth 7.8 million.
He also has a Hummer – MC 20, a Toyota Hilux Single Cab D4D (2 wheel) and a Toyota Prado TX which he said were given to him as gifts.
The Malawi leader further declared vehicles owned by his son Nick Chakwera, Daughters Violet Mwasinga and Tapiwa Kampondeni and son in law Sean Kampondeni
As of 20 July, 2020, Chakwera had K6, 011, 057.81 in his National Bank Current Account and K3, 887, 200. 57 in a Savings Account. He also had K990, 500.42 in a Standard Bank Current Account.
The Malawi leader also borrowed K50 million from FDH Bank while he was a Member of Parliament.
Chakwera led the Assemblies of God Church for 24 years before joining politics in 2013. He served as Member of Parliament for Lilongwe from 2014 to 2019 and was re-elected in the 2019 elections but resigned this year ahead of the Fresh Presidential Elections.
The Declaration of Assets, Liabilities and Business Interests Act of 2013 came into force in 2014 and requires the president, vice president, members of cabinet, Members of Parliament and other public officers to declare their assets upon assuming office.