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Malawi’s President Peter Mutharika Forced To Declare Assets- See His Net Worth And Properties

Malawi President Peter Mutharika was MK 4.4 Billion (US$9.2 million) worthy before he took to the post in dispute polls last year, according to recent declared assets.

After, a long wait of the assets of public officers to be made to the general public, the public has now started assessing the declared assets and has also been aired on local radios.

The office of Assets Declarations has also started providing to applicants assets of President Mutharika, his vice Saulosi Chilima, Leader of Opposition Lazarus Chakwera, speaker of Parliament Richard Msowoya and ex Malawi leader, Dr. Joyce Banda.

Mutharika, according to the declared wealth, he owns property that he has attained in Malawi and also in the United States of America where he was working a lawyer before he came into Malawi politics and made it to the Presidency.

The assets show that Mutharika has:

Savings in US: K3,600,000,000

Local account: K63,000,000

Foreign Account: K112,372

Nyambadwe House: K7,000,000

US House: K337,000,000

Nine vehicles: K397,000,000

Area 10 Houses.

All these properties total to MK 4.4 Billion (US$9.2 million)

In the assets made public so far, former President Joyce Banda had wealth amounting to MK461.5 million

Six houses: K61,900,000

Plots: K1,300,000

15 Vehicles: K160,000,000

Co-owner of farm: K216,000,000

Shares in listed companies: K5,900,000

Bank accounts balance: K16,400,000

Assets co-owned with husband

Njaliwe Farm

Joyce Banda Foundation

Akujawe Enterprises

Kalindizga Bakery

Kasungu Total Filling Station

Kakuti Estate

Liability: Bank Loan K87 million

Mutharika’s led administration has been pushed for the declarance of the assets until the Office of Assets Declaration slated March 2 as the day when the public could start applying for the assets of their public duty bearers.

“The first phase of the platform will be open to the public with effect from monday,2 March 2015 and it will initially cover officer listed under part A of the first schedule to the Act, thus political and elected officials,” said Christopher Tukula, Director of the Office.

The elected officials includes the President and his Vice, Speaker and deputy speaker of National Assembly, cabinet ministers, members of parliament, leader and treasurers, political parties represented in parliament, Mayor and Councillors of city councils and councillor of district and Town councils.

“When the Director refuses access to declaration, he shall within fourteen days from receipt of the application, notify the requesting party in writing starting ground for his refusal,” added Tukula.

He further warned that any person, who upon accessing declarations submitted by listed public officer, misuses or abuses the information shall be liable, on conviction, to a fine of K500, 000 and two-year imprisonment without prejudice to any other legal remedy available to the injured person.

Tukula assured the general public and all listed public officer that every effort would be made by the Directorate as a regulator of the process to uphold ideas and objectives of the act and to discharge its duties in a professional, fair and impartial manner.

“Right to privacy and personal security of public officers will be one of the key considerations in granting or refusing approval for public access,” explained Tukula.

To access the declarations, according to the Act, members of the general public will be required to fill out an application form detailing personal particulars and contacts details.

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