ESCOM Loses K60 Billion To Fraudsters

Electricity Suppy Corporation of Malawi (ESCOM) will embark on a nation wide inspection of 461,000 properties that have been flaged in the fraud that has led to the employees defrauding the company about K60 billion since 2018.

In the syndicate pre-paid meter units were sold by pararell structures to companies and individuals in the country.

ESCOM’s Chief Executive Officer Kamkwamba Kumwenda says the syndicate has been going on since the company migrated to pre-paid meter billing system with preliminary findings exposing that some Malawians of Asian origin and companies will no longer buy electricity units for 5 the next five years

“we are losing K12 billion annually through commercial loss which include, ESCOM and EGENCO employess selling their electricity allocations to these entities and individuals,”

“Some comapnies even have 17 million kwacha worthy of electricity meaning they cannot buy units for the next five years” Kumwenda said.

Kamwamba also disclosed that the corporation will now start naming and shaming the people involved in the malpractice while exploring all legal avenues.