No justifiable reason for Yusuf Investments running Amaryllis” – MaBLEM threatens vigils, demos

The Malawi-Led Black Economic and Empowerment Movement (MaBLEM) has threatened vigils and demonstrations at the Amaryllis Hotel on May 18, questioning why Yusuf Investments continues to operate the hotel despite not holding any reasonable shares in the facility, as per the controversial MK128 billion transaction currently under parliamentary scrutiny.

The group says the planned protests, under the banner “Occupy Amaryllis”, are aimed at pushing authorities to recover public funds or transfer control of the hotel to the Malawi government amid growing concerns over pension monies linked to the deal.

Speaking on Wednesday, MaBLEM National Coordinator Fryson Chodzi said there is no justification for Yusuf Investments to remain in control of the hotel while questions surrounding ownership and the handling of funds remain unresolved.

“It is hard to believe that MK90 billion out of MK128 billion has been frozen when the hotel is using the same funds for operations,” said Chodzi.

He said continued operation of the hotel raises serious concerns over financial transparency, particularly following reports that National Bank declined to disclose details on how the purchase proceeds have been utilised.

Chodzi further argued that Yusuf Investments should not still be managing the facility given the scale of payment already made in the transaction.

“In all fairness, where MK90 billion out of MK128 billion was paid, there is no justifiable reason for Yusuf Investments to continue running the hotel as they do not hold any reasonable shares in the facility,” he said.

MaBLEM says the vigils and demonstrations will be held at the hotel premises, with protesters expected to demand accountability over the transaction and call for either repayment of the funds or government takeover of the property.

Meanwhile, the Parliamentary Committee on Public Accounts (PAC) is yet to conclude its probe into the hotel acquisition due to the absence of key witnesses, including former Secretary to the President and Cabinet Colleen Zamba, whose appearance has been requested through government channels.