President Lazarus Chakwera's latest asset declaration states that he and his immediate family acquired no new wealth, loans, property, or gifts in the 2024- 2025 financial year. Yet, evidence such as his new Mchinji farm and significant public donations raises questions about whether the law designed to curb illicit wealth is being undermined. By Mariah Bosco Did President Lazarus Chakwera or his immediate family accumulate any new wealth, start a new business, receive gifts, obtain bank loans, or buy a new farm in 2024? According to the President's 2024 asset declaration, accessed by the Platform for Investigative Journalism (PIJ), the answer is no. He claims no new loans, no additional bank account balances from allowances or salaries, no new businesses, gifts, or dividends. The veracity of this information, presented by the President and his team, is now under scrutiny. The PIJ, committed to promoting good governance and accountability, successfully obtained asset declarations for President Chakwera and his immediate family, several cabinet ministers, and a High Court judge facing corruption allegations. The Assets Declaration Act mandates senior public officials, including the President, cabinet ministers, Members of Parliament, Principal Secretaries, heads of departments, ministries, and agencies, as well as other officials in corruption-prone positions, to declare their assets. The law intends to prevent the illicit accumulation of wealth. However, its application is often questioned, with some officials seemingly disregarding its purpose. The PIJ focused on President Chakwera as Head of State and Government due to the immense power associated with his office, making him susceptible to influence from business and interest groups. This executive power, if abused, can be a vehicle for corruption, despite the presidency enjoying immunity. Another reason for scrutinising the President's declaration is his pre-election commitment to place good governance at the centre of his leadership, which included a pledge to declare his assets. The President, a former evangelical pastor turned politician, began his presidency with a strong commitment to transparency. In 2019, as the then-leader of the opposition, Chakwera declared assets valued at K272 million Kwacha. A year later, upon entering office, he provided an elaborate declaration, detailing not only his assets—money in various bank accounts, plots (houses), farms, and vehicles—but also those of his immediate family. On 17th September 2019, President Chakwera declared the following: Current accounts: FDH Bank: K27,486,584 National Bank: K3,486,362 First Capital Bank: K1,300,000 US Bank Wells Fargo USA: $15,000 (equivalent to K11,250,000 in Malawian Kwacha) New Building Society (NBS) Bank account balance: Not known Houses: Lilongwe Area 49 (built 1988): Valued at K4,000,000, funded by a World Bank Loan through NBS. Address: 49/5/167. Area 6 (built 2019): Valued at K100,000,000, funded by Opportunity Bank Loan, Salary, and Gratuity. Farms: Kapiri 2, Malembo village, and Lilongwe (inherited from family). Plot at Nyangulu Village TA Makanjira, Salima (purchased for K1,000,000). Vehicles: Mercedes-Benz Saloon (BS1835): Bought 2014 for K4,500,000 via bank loan. Range Rover (MC9664): Bought in 2017 for K9,000,000 via bank loan. Isuzu truck (LL2901): Bought in 2014 for K18,000,000 via bank loan. Loans: K50,000,000 car loan with the FDH Bank through Parliament. The President also reported receiving two vehicles as gifts: a Hummer (MC20) in 2014 and a Toyota single-cab in 2018. As part of his gratuity, he declared another vehicle, a Toyota TX (MC393AH). For his immediate family, the President declared: House: Area 49, owned by Reverend Mwasinga (family member): Valued at K30,000,000, funded by a Loan and Terminal Benefits from Air Malawi. First Lady Monica Chakwera: House in Lilongwe Area 10 (constructed 2008): Estimated cost K80,000,000, funded by mortgage and sale of other houses in Area 15 and 3. Vehicles: Owned by immediate family members, including son Nick Chakwera, daughters Violet Mwasinga and Tapiwa Kwampondeni, and son-in-law Chitsanzo. The President's previous declarations, as illustrated above, were exemplary. However, this year, he appears to be withholding information regarding gifts, allowances, salaries, and loans. He and his immediate family claim to have acquired no new land or gifts. The PIJ questioned the Office of the Declarations of Assets about the auditing of these claims, but the office has not responded, further raising concerns about transparency. There are reasons to believe the President's current declaration may be incomplete. For instance, in February this year, the President visited a farm in Mchinji with a convoy and media presence, yet this farm is not listed in his declarations. Additionally, the President has made numerous significant monetary donations, despite his annual salary being K48 million Kwacha. Examples of his donations in 2025 include: June: K50 million to the Malawi national soccer team, the Flames. June: K2 million to the Red Cross Malawi. Presidential Charity Initiative: K225 million for the reconstruction of a Freddy-damaged Mpatsa Primary School. 14th June 2023, at Kamuzu Palace: K120 million to needy students at KUHES. When contacted for comment, Presidential spokesperson Anthony Kasunda stated he had no information regarding the President’s declaration. Malawi Law Society (MLS) President Davis Njobvu cautioned against drawing premature conclusions from the forms. "So in essence, these are annual declarations for additional assets or liabilities for the one year period from April 2024 to March 202,5, and he has put N/A. I don't know whether he means none. This declaration could be legal if he in fact has not added any assets or liabilities in the year in question. The annual declaration is not asking him to declare all his assets and liabilities. For that you need to get his initial declarations in 2020 and other annual declarations from then until now," Njobvu explained. While Njobvu advises against rushed judgments, questions persist regarding whether the President is making a mockery of the law. Is it truly possible that he acquired no new income during the year? The law specifically requires public officers to declare: assets, liabilities, business interests, income (including source, amount, date, and explanation) received by themselves or immediate family within the past twelve months. It also obliges the President to declare any bank account (wherever located, held in their name or jointly with immediate family, close associate, agent, or business partner), including account holder name, banking institution, type of account, account number, and balance; and shares in any company, government stocks, bonds, treasury bills, any life insurance policy or related schemes held in their name or jointly with any family member. It is difficult to believe that the President and his immediate family acquired no new assets or income under this definition. Activists have expressed strong suspicions. Michael Kaiyatsa of the Centre for Human Rights Rehabilitation (CHRR) stated that this situation highlights weaknesses in Malawi's asset declaration law, particularly the lack of enforcement mechanisms. This absence, he argues, prevents authorities from adequately monitoring, investigating, and punishing those who violate the law. Kaiyatsa specifically pointed out the absence of physical asset verification as a major flaw, stating that without it, the declaration process risks becoming a mere formality rather than ensuring accuracy and preventing corruption. "There needs to be adequate resource allocation to support the effective implementation of the law, mandatory and timely publication of assets declaration, clear sanctions for non-compliance or dishonesty, and there's also a need for integrity at the highest levels of leadership," Kaiyatsa emphasised. Willy Kambwandira, Executive Director of the Centre for Social Transparency and Accountability (CSAT), echoed Kaiyatsa’s concerns, stating that the law has failed to effectively curb corruption, appearing more as a formality than a meaningful exercise. "We are not serious about inconsistencies and under-declarations, even by leaders who were supposed to lead by example. We expected the President, as a custodian of the constitution, to lead by example, and failure to declare all his assets raises speculation that people are hiding their wealth. It is clear that we have people in this country who have accumulated unexplained wealth within the shortest period of time," said Kambwandira. Kambwandira stressed that leaders entrusted with high office are expected to explain the sources of their wealth, adding, "and this is what the law demands." This article was produced by the Platform for Investigative Journalism (PIJ), an independent centre for investigative journalism committed to professional and ethical journalism.Malawi's President: Nothing to Declare, Or Something to Hide?
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