Malawi’s largest conglomerate, Press Corporation plc (PCL), has paid outspoken activist and businessman Joshua Chisa Mbele K5.3 billion to acquire a 70% controlling stake in Mpaladizo Resort Limited.
PCL announced the acquisition in a statement dated 10 September 2026, describing Mpaladizo as a recently incorporated private company developing a premium hospitality resort along the lakeshore in Salima District. PCL acquired the lakeshore resort development through Mbele’s Wild Coast Estates Limited.
Wild Coast Estates sold the majority stake to PCL but retains the remaining 30%. PCL did not disclose the purchase price directly in kwacha. Instead, it tied the value of the deal to its market capitalisation.
“The consideration for the acquisition is equivalent to 0.4% of PCL’s market capitalisation as at 31 July 2026.”
Malawi Stock Exchange public data puts PCL’s market capitalisation at about K1.317 trillion, implying 0.4% is approximately K5.3 billion. Neither party did not disclose the exact acquisition price, the total valuation placed on Mpaladzi Resort Limited nor the estimated cost of completing the lakeshore development.
PCL said the acquisition forms part of its diversification strategy and gives the conglomerate an opportunity to expand its interests in Malawi’s tourism industry.
“More importantly, the investment provides PCL with an opportunity to participate in the development of a high-quality lakeshore destination, which will contribute to the growth of Malawi’s tourism offering whilst creating sustainable long-term value for its shareholders.”
PCL is not new to Malawi’s hospitality industry. The conglomerate already owns a 15% stake in Sunbird Tourism plc, giving it an indirect interest in some of the country’s major hotels and resorts.
Sunbird’s portfolio includes Sunbird Capital, Mount Soche, Lilongwe, Mzuzu and Ku Chawe, as well as Lake Malawi properties Nkopola, Livingstonia, Waterfront and Chintheche. Sunbird has also operated Kalipano Hotel under its brand.
The Mpaladizo deal, however, gives PCL a 70% controlling stake in the Salima lakeshore development, significantly increasing its direct exposure to Malawi’s hospitality and tourism industry.
The former UTM member has previously publicly praised Press Corporation’s investments in social media posts. It is, however, not clear whether his previous public support for PCL had any bearing on the corporation’s decision to invest in Mpaladizo, and PCL’s statement does not suggest that it did. PCL said the transaction was conducted on an arm’s-length basis and did not involve related parties.
Mbele, a businessman and outspoken political commentator, was arrested several times during former President Lazarus Chakwera’s MCP-led administration. In 2022, he was arrested over social media posts and later during anti-government demonstrations against Chakwera’s administration.
One of the cases saw him charged with criminal libel, a law he later successfully challenged. In 2025, the Constitutional Court struck down the criminal-defamation provision for violating the constitutional right to freedom of expression.
