RBM traces MK72 Billion in Amaryllis Hotel saga

The Reserve Bank of Malawi has disclosed that approximately K72.6 billion associated with the contentious Amarylis Hotel transaction has been identified, with a considerable amount already frozen or secured as investigations proceed.

A representative from the central bank informed the Public Accounts Committee that regulators have shifted their attention from evaluating the feasibility of the deal to enforcing compliance after discovering that payments had already been executed despite previous instructions to cease the transaction.

“At this moment, we possess the funds… payments have been executed, thus we concentrated on adhering to the directive,” he stated.

The committee was informed that on February 27, 2026, the Reserve Bank officially collaborated with the Financial Intelligence Authority to monitor and freeze funds related to the transaction.