The Centre for Democracy and Economic Development Initiatives (CDEDI) has called for urgent action to ensure transparency and accountability in the handling of pension funds linked to the controversial Amaryllis Hotel.
Speaking at a press briefing in Lilongwe on Thursday, CDEDI Executive Director Sylvester Namiwa said the Amaryllis Hotel deal has raised serious questions about governance, valuation, and oversight.
He noted that the hotel’s reported valuation jumped from about MK47 billion in 2023 to MK127 billion in 2026, a move that has left many Malawians questioning whether the transaction was conducted transparently and in the best interest of public servants.
The organization further said the ongoing forensic audit into the operations of the Public Service Pension Trust Fund must not remain a closed internal process.
“The pension fund should make public the forensic audit results, currently underway. Those implicated should be personally held liable,” Namiwa said.
CDEDI also called on the Reserve Bank of Malawi to clarify its role in approving the transaction.
“The regulator should justify its actions and advise the way forward on the matter since monies were already paid following its own approval,” Namiwa said.
He further accused the Public Accounts Committee of failing to exercise independent oversight over the controversial deal.
“The writing is on the wall that the Public Accounts Committee of Parliament is an accomplice in this criminal enterprise,” Namiwa said.
In response, CDEDI is demanding that the Office of the Ombudsman conduct a public inquiry into the Amaryllis Hotel transaction, saying this is necessary to uncover the full facts and determine accountability.
Namiwa stressed that only through transparency, audit disclosure, and decisive action can the integrity of pension governance be restored and public servants’ savings protected.
