Luthando Holdings Limited has firmly rejected claims that it owes millions of kwacha to the Malawi Enterprise Development Fund (MEDF), formerly known as NEEF, describing the allegations as false and misleading.
In a strongly worded statement, the company’s Managing Director, Hendrix Laher, asserted that Luthando Holdings has no outstanding debt to MEDF, emphasizing that the company completed its motorcycle supply contract over a year ago.
“Luthando Holdings doesn’t owe NEEF anything—nothing, zero tambala,” the statement reads.
Instead, Laher claims that MEDF itself owes Luthando Holdings millions of kwacha in unpaid after-sales service fees.
He added that despite several follow-ups, payment has been delayed, with MEDF attributing the issue to ongoing reconciliation processes.
The company further alleged that the accusations form part of a smear campaign aimed at damaging its reputation.
This development follows the arrest of former NEEF Chief Executive Officer, Humphrey Mdyetseni, who is facing charges related to abuse of public office under corruption laws.
According to findings by the Anti-Corruption Bureau, Mdyetseni is accused of authorizing an advance payment of K364 million for 150 motorcycles under a contract with Luthando Holdings, valued at approximately K1.095 billion.
