As Malawians have started accessing wealth of some government top officials including that of the President Professor Arthur Peter Mutharika and his Vice President Saulosi Chima, FaceofMalawi has discovered that Peoples’ Party President Joyce Banda, who is also the immediate past state president’s wealth, is pegged at MK461.5 million.
This is according a document Published by the privately owned radio station in the country Zodiak Broadcasting Station (ZBS).
In the declaration made in December 30th, 2014, Banda declared ownership of close to sixty vehicles the majority of which were ‘donated’ to her party and tax yet to be paid in full to the tax body Malawi Revenue Authority (MRA).
Banda said she personally donated 63 vehicles, 127 motocycles to the Peoples’ Party, religious and cultural organizations and also the Kabanza Association of Malawi. JB declares owning 15 personal vehicles.
For a list of 33 vehicles she writes in her declaration:
“I have donated the following vehicles to the Peoples’ Party. I have an installment payment arrangement with Malawi Revenue Authority to pay duty on the said vehicles after which, title shall be transferred to the party”.
Dr. Banda, among other things, acquired a 100,000,000.00 Kwacha loan from the National Bank where there is a balance of 87,000,000.00 whereas her husband Richard Banda also got a 100,000,000.00 Kwacha loan for which he is still to pay back 79,000,000.00 Kwacha.
The former president has a Bank of America account where she had U$14,444.35 as at December 30th, 2015. In South Africa on that day she says she had ZAR244,644.00 and MK2,008,002.00 at NB.
Dr. Banda declares that she fundraises both “locally and internationally” for her local and international charity and development work under the Joyce Banda Foundation.
“I and the Joyce Banda Foundation international received donations in both cash and material from friends, well wishers and international organizations for my and Joyce Banda Foundation…,” she declares.
She also declares a 30,000,000.00 Kwacha house under construction at Chintheche in Nkhata Bay district (among the houses she has) besides businesses such as schools pegged at K114,000,000.00.
The declarations include other assets, liabilities and business interests. These comprise of developed and undeveloped land, loans, bank deposits, shareholding, businesses, motor vehicles and others.