Loans board employees accused of stealing K335m meant for students’ loans


Two employees at Higher Education Students’ Loans and Grants Board (HESLGB) have been arrested in Lilongwe for allegedly stealing K335 million meant for students’ loans.

The two have been identified as Loans and Grants Manager Chimwemwe Kaphagawani and Communications Manager, Success Sikwese.

Court documents indicate that the two employees, on April 8 2018 in Lilongwe, had the money in their custody but were unable to account for the money to their employer.

In April this year, it was revealed that about K300 million was stolen at loans board between 2018 and 2019  through a private institution of higher learning called of African University Guidance, Counselling and Youth Development.

The University was reportedly struggling financially and failing to pay rent and the Loans Board, whose mandate is to provide loans to students in institutions of higher learning, advised the University to appeal for funds from the board.

The University made a proposal for a donation of K10 million but the board sent K300 million. The board then asked the University to return the additional money but to various accounts belonging to employees at Loans Board.

The  theft of millions of kwacha meant for students was happening as students in higher learning institutions across the country were struggling to access loans to pay for tuition.

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One Comment

  1. Totally inhuman killing others future whilst they have already made their future. Only 2 people killing the future of 100 people very bad indeed.

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