Malawi central bank fund in crossfire of allegations
Audit finds a loss of over $15 million, but some staff claim directors ordered bogus inquiry
Malawian auditors have reported that a subsidiary of the country’s central bank lost more than $15 million from mismanagement, according to media reports.
The report is the latest scandal to touch the Reserve Bank of Malawi. A former governor and former deputy governor face criminal charges in a separate matter.
Anonymous employees at the Export Development Fund, a central bank-owned company founded in 2012 that provides credit for exporters, have in turn told media that the unit’s board
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