Malawi Housing Corporation chief executive officer Wezi Mkandawire is said to have abused her powers as she director of the statutory company finance department to give her a K5 million loan which she is not supposed to get because she is on a contract.
According sources in the accounts department and another in the employees union corroborated in different interviews that Mkandawire’s loan was illegal because she is on a contract and such not supposed to get company loan.
The loan seems to infuriate employees as Mkandawire also stopped loans from K30 000 up but before the directive staff could get up to K150 000.00.
The least that could have happened was for her to be guaranteed by MHC to get a loan from the bank, the accounts source said.
The source added that by getting a loan from the company, it means that she is milking the already thin cow because it is MHC paying tax to Malawi Revenue Authority.
She would have been paying the tax herself and MHC should have been getting interests but all that is in vain, the officer said.
The officer expressed concern that the illegal loan was already an audit query.
And the workers union source described Mkandawire’s conduct as hypocritical.
She stopped loans from K30 000 up but before the directive staff could get up to K150 000.00. One ugly scene was that one female employee lost her mother and she applied for a loan for K80 000 but she was given K30 000.00 and employees were embarrassed, revealed the union member.
We are going to engage the board on this illegal loan and the directive to stop big loans, said the member.
