Govt Nullifies 10.5 Billion Loan Repayment Deal With Mulli Brothers
Government has nullified a 10.5 Billion kwacha loan re-payment deal with Mulli Brothers. Mulli Brothers was one of the companies that owed government Billions of kwacha through then state owned Malawi Savings Bank before it was sold to FDH Bank in 2015. And responding in a parliament to a question from Lilongwe South legislator Peter Dimba on how government is working in recovering 6 Billion plus interests from defaulters of toxic loans like that of Mulli Brothes, Finance Minister Felix Mlusu said government has cancelled the loan agreement which Muli signed with the DPP administration. Accor...
Source: faceofmalawi.com