Malawi’s anti-corruption fight faces a fresh test after a court refused to keep more than K30 billion linked to Amaryllis Hotel frozen.
Lilongwe Senior Resident Magistrate Shukrana Kumbani declined the Anti-Corruption Bureau’s application to extend a restriction order on bank accounts linked to Yusuf Investment Limited, owners of Amaryllis Hotel.
Senior Resident Magistrate Kumbani said the bureau had failed to provide sufficient grounds for the extension, hence his ruling.
The ruling clears the way for the company to regain access to the funds, which had been frozen as investigators probed suspected corruption and fraudulent financial transactions.
The accounts came under scrutiny following allegations that huge sums of money were withdrawn between January 26 and March 6, 2026, from accounts linked to the hotel’s sales.
But the ACB says the battle is far from over.
According to reports, Acting ACB Director George Chembezi said the bureau will challenge the court’s decision, insisting investigations are still underway.
Chembezi said investigators suspect some of the money was used to bribe three members of the Public Sector Pension Fund Trust (PSPTF) board and officials within the fund’s secretariat.
The bureau argues that releasing the funds now could make it harder to trace the money and potentially compromise the investigation.
