USDMK 1742.500.00GBPMK 2214.800.00ZARMK 95.600.00EURMK 1887.300.00USDMK 1742.500.00GBPMK 2214.800.00ZARMK 95.600.00EURMK 1887.300.00
Live
Loading live headlines…
Nyasa Times
National

'Austerity? Not here': Admarc CEO Botolo spends 10 months in lodges

The chief executive of cash-strapped state grain trader Admarc has spent about 10 months living in lodges at the corporation's expense. Ben Botolo, a former secretary to the Treasury who was appointed in December last year, has yet to move into the official house at Mudi residential estate in Blantyre. He says it is not [...]

Nyasa Times News Desk

Nyasa Times News Desk

Nyasa Times Reporter

2d ago · 1 min read

'Austerity? Not here': Admarc CEO Botolo spends 10 months in lodges
Text size100%

The chief executive of cash-strapped state grain trader Admarc has spent about 10 months living in lodges at the corporation's expense.

Ben Botolo, a former secretary to the Treasury who was appointed in December last year, has yet to move into the official house at Mudi residential estate in Blantyre. He says it is not habitable and is being renovated.

A senior official in the Office of the President and Cabinet, who asked not to be named, questioned why he has not moved in while the work goes on.

"This does not speak to the spirit of austerity measures," the official said. "If the other CEO lived in there then it must be fit enough for anyone."

Botolo shared videos showing an old, unpainted house that appears to be under renovation. He said his predecessor, Daniel Makata, left it in "tatters".

Makata disputes that, saying he left in February, though his contract ran to June.

"If the house was in tatters I would not have lived there," he said.

Botolo said Admarc has lacked the money to finish the work but expects it to be done this month.

He said he avoids hotels in favour of cheaper lodges costing about K135,000 a day, and works between Lilongwe and Blantyre on matters including salary payments.

He accepted the arrangement could attract criticism but said his priority was reviving Admarc.

The row comes as Admarc told the public in March it needs K144 billion to operate and restore itself during 2026/27.

Admarc board chairperson Grey Nyandule Phiri and Comptroller for Statutory Corporations Stuart Ligomeka have not commented on the matter.

#Featured#National

Discussion2

Comments are stored in local state for this demo.
  • GPGrace Phiri

    2h ago

    Finally some clarity on this. Thanks for the detailed breakdown.

  • JBJames Banda

    1h ago

    I hope the authorities actually follow through this time.

More from Blantyre / South

Reserve Bank of Malawi champions non-bank finance as driver of economic development
BusinessBlantyre / South
Reserve Bank of Malawi champions non-bank finance as driver of economic development

The Governor of the Reserve Bank of Malawi (RBM), Dr George Partridge, has described non-bank financial institutions as a crucial pillar of economic growth, urging greater regional cooperation to strengthen regulation and protect savers across Southern Africa. Speaking at the opening of the 49th Annual General Meeting of the Committee of Insurance, Securities and Non-Banking [...]

NTNDNyasa Times News Desk · 11h ago
Blantyre Water Board sacks CEO Chihana for third time
NationalBlantyre / South
Blantyre Water Board sacks CEO Chihana for third time

The beleaguered chief executive of Blantyre Water Board has been sacked for the third time in just six months, in an astonishing saga that has seen him bounce between the courtroom and the boardroom since the day he took the job. Yeremia Chihana was summarily dismissed by BWB on Monday, just as he was simultaneously [...]

NTNDNyasa Times News Desk · 20h ago
IMF praises Malawi reforms but holds off on new financing deal
NationalLilongwe / Central
IMF praises Malawi reforms but holds off on new financing deal

An International Monetary Fund team has concluded two weeks of talks in Malawi without reaching a final agreement on a new lending programme, though it praised the government's progress on economic reforms. The mission, led by Justin Tyson, the IMF's mission chief for Malawi, held meetings in Lilongwe from 22 September to 6 October to [...]

NTNDNyasa Times News Desk · 7h ago
Malawi awaits IMF verdict on talks, with Lilongwe hopeful of a positive outcome
NationalLilongwe / Central
Malawi awaits IMF verdict on talks, with Lilongwe hopeful of a positive outcome

The International Monetary Fund is expected to issue a statement shortly on the outcome of its discussions with the Malawian government, with officials in Lilongwe expressing hope that the assessment will be favourable. An IMF mission held talks with Finance Minister Joseph Mwanamvekha, senior government and Reserve Bank of Malawi officials, a range of stakeholders [...]

NTNDNyasa Times News Desk · 12h ago