Kabambe spends second night in cooler

Former Reserve Bank of Malawi Governor Dalitso Kabambe will spend a second night in the cooler following his arrest on Monday.

Kabambe, who is also a member of the opposition Democratic Progressive Party (DPP), appeared in court this afternoon where he was charged with two counts of abuse of office, money laundering and neglect of official duties.

Chief Resident Magistrate Patrick Chirwa will deliver a ruling on Kabambe’s bail application tomorrow at 2pm.

His team has since assured Malawians that Kabambe is in good spirit despite spending several hours in jail.

“Dr Kabambe remains in good health and in positive spirit with a firm belief in the due process of the law, hence a call for peace and calm.

“In the meantime, keep providing the support and let us keep praying for the safety of Dr. Kabambe,” reads a post on Kabambe’s Facebook page.

Kabambe was arrested together with former RBM Deputy Governor Henry Mathanga, retired Director Rodrick Wiyo and one of the current Managers at Reserve Bank Leya Ndonga.

The four have been charged with money laundering, two counts abuse of office and one count of neglect of official duty.

The four have been charged with abuse of office as the state argues that between October 2019 and June 2020, they allegedly abused the office by paying a compensation of K4.3 billion to FDH Bank without prior approval.

Another case of abuse of office involves provision of credit to Mulli Brothers and other firms without prior approval of the board, which is also abuse of office.

They are also accused of neglect of official duty and money laundering with the state arguing that they acquired K8.3 billion while knowing that the said sum represented proceeds of abuse of public office.