The High Court sitting in Lilongwe has thrown out an application by UTM president Dalitso Kabambe who wanted the court to stay proceedings in a case in which he is answering charges of conspiring to expend public funds without authorisation or appropriation from Parliament.
Further, Kabambe is being accused of providing false information to the International Monetary Fund (IMF).
Through his lawyer Fostino Mayere, Kabambe argued that the matter should await a decision from the Legal Affairs Committee, which he had petitioned.
However, Judge Redson Kapindu denied the application and advised the defence to pursue their request directly with the Legal Affairs Committee, which has the power to direct the DPP to hold persecution.
The former Reserve Bank of Malawi (RBM) governor together with Henry Mathanga, Cliff Kenneth Chiunda, and Joseph Mwanamvekha are answering charges of conspiracy, making misleading statements, and money laundering.
In April this year, the court also three out another application by Kabambe when he argued that he was immune from prosecution for actions taken in good faith during his tenure as Governor and Chairperson of the RBM Board between 2017 and 2020.
Citing Section 15 of the Reserve Bank of Malawi Act and Paragraph 4 of the institution’s Code of Conduct, Kabambe claimed he could not be held personally liable unless it was proven he acted in bad faith.
He said the Treasury Note transaction in question, worth USD 350 million and involving Afreximbank, was approved by the RBM Board and aimed at restructuring government debt to reduce interest payments.
