March 6th, 2014

Malawi President Joyce Banda Talks Cashgate, Presidential Jet Sale Funds, Mortuary Debacle, Lake Malawi and Others at a Press Conference

Malawi government has finally confirmed Bhonnox Group of Companies (a subsidiary of paramount group of companies) tricked them on the sale of the presidential jet.

And it has also confirmed that money realized from the controversial presidential jet didn’t reach either Treasury or the Reserve Bank of Malawi (RBM).

But instead the Presidential Jet was sold in the old batter type of trade.

Speaking to journalists in Lilongwe, Finance Minister Maxwell Mkwezalamba said the presidential jet was sold to Bhonnox Limited at US$15 million.

Mkwezalamba said the money was not deposited into government’s consolidated account but highest bidder Bhonnox paid directly to…