Malawi: Chakwera Makes Fresh Assets Declaration - Updated From K272m Wealth, 3 Cars As Gifts

President Lazarus Chakwera (file photo).
7 August 2020

President Lazarus Chakwera, in compliance with the Constitution of Malawi, submitted his assets declaration form to the Office of Directorate of Public Assets Declaration.

Presidential media liaison officer and executive assistant Sean Kampondeni confirmed that Chakwera presented a fresh asset declaration forms upon ascending to the office of President, saying he was trying to fulfil his obligations.

Kampondeni said the resubmitted declaration contains updated information from what he declared in 2019.

In previous declaration, Chakwera's wealth was said to be around K272 million, a Kapiri 2 Farm in his Malembo village in Lilongwe which he inherited from his family and a plot at Nyangulu Village, Traditional Authority Makanjira in Salima purchased at K1 million from his gratuity.

Some of the assets to be declared, according to the law, should include those in which the member or any member of his immediate family has full or part ownership interest.

The declaration also includes information about the assets' location, the date of acquisition, the amount paid for the property, the current valuation of the asset and, where possible, the contact details of the person or entity from whom the asset was acquired.

Chakwera declared a fleet of vehicles owned by him personally and his immediate family which include a Mercedes Benz saloon bought in 2014 while as leader of opposition at K4.5 million using a bank loan, a Range Rover registration MC 969A worth K9 million bought in 2017 with a bank loan and Isuzu truck bought in 2014 also using a bank loan.

He declared three vehicles to have been given to him as "gifts" between 2014 to 2018; namely a Hammer registration MC 20, a Toyota Hilux single cab and Toyota Prado TX.

Chakwera also declared motor vehicles owned by his son Nick, daughters Violet Mwasinga and Tapiwa Kampondeni and son-in-law, Sean Kampondeni.

He also signed a K50 million car loan with FDH Bank through Parliament, according to his declaration.

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