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ARET CEO Andy Khumbanyiwa, two others suspended over MK156 million fraud

National News
Robert Ngwira
Author: Robert Ngwira
Less than 1 min.read

Agricultural Research and Extension Trust (ARET) Chief Executive Officer Andy Khumbanyiwa has been suspended for allegedly defrauding the company money amounting to MK156 million in dubious payments.

The company has also suspended Finance and Administration Manager Jonathan Mwakiyelo and Investments and Business Development Officer Wesley Mwamadi for allegedly having a hand in the fraud allegations.

This has been disclosed in a letter dated November 29, 2018 addressed to Khumbanyiwa seen by faceofmalawi reporter.

According to the letter, the decision to suspend the three was made during an emergency board meeting held on November 28, 2018.

“The board resolved that you should be suspended from duties with effect from today November 29, 2018 to pave way for the thorough investigations,” reads in part the letter.

The board has also ordered Khumbanyiwa to return the company’s laptop by today.

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Robert Ngwira
Robert Ngwira
Attended Our Future Private Secondary School in Rumphi from 2006-2009 Holder of Diploma in Journalism from Malawi Institute of Journalism (MIJ) Hobbies, reading newspapers, going out with friends, listening to radio and watching football. Email: info@faceofmalawi.com

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Zomba City Festival

Fri, 26 Apr 2024 10:00:00 UTC @ Botanic Garden - 2024 Zomba City Festival is schedulled to take place on 26 to 28 April at Botanic Garden in Zomba This is a festival for all ages in the historic mountain city of Zomba. Celebrate Cultu... More Info
Queens Club Shut Down

Fri, 26 Apr 2024 19:00:00 UTC @ Queens Club - Queens Club Presents "Queens Club Shut Down" with music performances by Kelly Kay, Charisma, Teddy Makadi and Praise Umali. The show will take place at Queens Club in Mzuzu on 26 April... More Info

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