Legal and civil rights activists have described revelations of former president late Bingu wa Mutharika’s wealth as depressing especially to an ordinary person.
It has been revealed that Mutharika, who when assuming office in 2004 had declared that he had K154 million worth of assets, was K61 billion richer by the time of his death.
Justine Dzonzi, executive director of Justice Link says the issue needs proper investigations and explanation, as the amount is huge as compared to salaries and benefits that State presidents are given.
2004: Estimated at MK150 million
2012: Estimated at MK61 billion
Breakdown:
Bank of Taiwan in SA = US$ 35 million
UNFCU account = US$ 4.4 million
New Jersey account = US$ 4 million
and more millions in several local accounts… (Source: The Daily Times 24th June 2013)
Bingus wealth was estimated $175 million in 2013 equivalent to 61 billion kwacha…in 2003 he was worth one secondhand minibus.
