Former Malawian tycoon Mike Chilewe hopes to bounce back


Mike Chilewe used to own Mike's Trading Limited

Former Mike’s Trading owner Mike Chilewe who lost his wealth after his company went bankrupt has expressed hope that he will bounce back one day.

Chilewe’s company Mike’s Trading  Group manufactured products such as steel windows, trailers, canopy, truck bodies, door frames, roofing structures and steel gates.

When his company was flourishing, Chilewe used to own a Cadillac Escalade, fly business class and dine with presidents. He lost it all after his company went bankrupt and was closed in 2019. According to Chilewe, all his vehicles and other property were seized by lenders.  

Speaking to Mibawa Television, Chilewe said the company faced unforeseen challenges influenced by various issues including politics.

Chilewe now lives in Mulanje, has no single vehicle and uses public transport.

“I used to give people millions but whenever a person sends me K10,000 I praise God because K10,000 is like a million to me,” Chilewe told local television Mibawa.

He, however, said despite going broke, he is healthy and has strong faith in God. According to Chilewe, he accepted the situation is now on the drawing board.

“The bible tells the story of Job who went broke and lost all his children but he later became rich again. I am lucky that my children are alive and I am on the drawing board.

“I am hopeful that I became rich again, I will be able to earn forex again and become the first Malawian to own a private jet,” said Chilewe.

The former tycoon also urged people in Malawi to be strong and not to commit suicide when faced with various challenges saying there is always an opportunity in any challenge.