Government To Investigate The Local Currency Externalization Scam

A delegation from Malawi is set to depart for Zambia this week to investigate an alleged attempt to externalize 42 million Malawi Kwacha by two foreign nationals who were recently apprehended by the Drug Enforcement Commission of Zambia.

The Reserve Bank of Malawi (RBM) spokesperson, Mark Lungu, confirmed the upcoming trip in an interview with local media.

Lungu stated that “authorities are keen on understanding the motives behind the actions of the American and Russian individuals involved in the incident”.

Lungu further mentioned that Malawian authorities are collaborating closely with the officials from the Zambian Central Bank as part of their investigative efforts.

In response to the news, Willy Kambwandira, the Executive Director of the Centre for Social Accountability and Transparency (CSAT), expressed concerns over the incident, describing it as evidence of weaknesses within the country’s security system.

“The alleged attempt to externalize funds highlights the importance of maintaining strong oversight and collaboration across borders to combat financial misconduct and ensure transparency in international transactions,” said Kambwandira.