Lipipa Applauds Registrar Over Amaryllis Hotel Intervention
Published on February 23, 2026 at 10:32 AM by Evance Kapito
As debate over the K128.75 billion Amaryllis Hotel acquisition continues to dominate online discussions, a Democratic Progressive Party legislator has thrown his weight behind regulators, describing the transaction as potentially disastrous for pensioners.
Noel Lipipa, Member of Parliament for Nancholi Chilomoni,Kabula Constituency, has applauded the decision by George Partridge, in his role as Registrar of Financial Institutions at the Reserve Bank of Malawi, to order the suspension or reversal of the Public Service Pension Fund Trust PSPTF’s acquisition of the Amaryllis Hotel.
In a strongly worded Facebook post, Lipipa said the Registrar’s intervention deserves applause, arguing that the deal no longer appears to represent value for pensioners.
“The deal appears grossly inflated, effectively amounting to a blank cheque issued to the seller and their intermediaries,” he wrote. “More concerning, it raises a serious red flag over what can only be described as potential theft. One could see pensioners lose billions of kwacha. This is either the Sale of the Century or the Heist of the Decade.”
Lipipa questioned the rationale behind the K128 billion valuation and suggested that the PSPTF Board may have breached the law and possibly violated its own constitutional requirements, which mandate public participation by members in major decisions of such magnitude.
He also expressed concern that the transaction has surfaced at a time when some pensioners reportedly struggle to receive their dues, describing the situation as deeply saddening and unacceptable.
The lawmaker emphasized that the Public Service Pension Trust Fund is a mandatory savings mechanism designed to ensure workers retire with dignity and are protected against old age poverty, disability, and death. He called for strengthened governance, transparency, strict compliance in remitting contributions, and investment stability to safeguard pensioners’ funds.
The Amaryllis Hotel acquisition remains one of the most talked about financial governance issues in the country, with mounting scrutiny from regulators, politicians, and members of the public.
