• September 29, 2022 9:12 pm

Nankhumwa speaks on the TC House that he bought

Right to reply

THE TRUTH ABOUT NANKHUMWA AND THE FORMER TC HOUSE

In 2019, the Tobacco Commission expressed interest to dispose off two of its properties one in Lilongwe and another one in Blantyre.

Kondwani Nankhumwa embroided in House web

This offer was made public to everyone via different channels.

The Lilongwe based house was valued at K87 million as its market price. This meant that TC could only allow buyers who could offer an amount not less than K87 million.

By then, Hon. Kondwani Nankhumwa was serving as the Minister of Agriculture and he expressed interest to buy the Lilongwe house and offered to pay K125 million cash.

The decision to finally sell the house to the Minister was arrived at by both TC management and the Board after he had satisfied all the contract of sale conditions including the payment method which was a once-off.

When TC changed its top management and the board, following the change of government, the new management, wrote the Leader of Opposition, expressing interest to repossess the house.

In response the LoP advised TC to proceed to either court or ACB, so that the matter could be investigated and solved.

Surprisingly, TC refused and chose to remain quiet.

For starters TC claimed that Nankhumwa bought the house at a lower price using Ministerial powers.

This is laughable! Why?

The house in question was valued at K87 million and the LoP bought it at K125 million! How does the issue of a lower price come about? One wonders🤷🏻‍♂️

It is possible that there could be other bidders who had offered to pay a higher amount, but as long as a bidder has offered an amount higher than the market value of the commodity, the seller is at liberty to sell to him or her, as long as the buyer has satisfied all the contract conditions.

In this case the LoP had offered more than the market value and TC proceeded to sell the house to him.

Legally, TC has no case and that’s why when the buyer asked the seller to go to court or ACB, the later recoiled and went silent.

Note: Malawi Exclusive shall always strive to give balanced coverage. Hence full verbatim of Kondwani Nankhumwa response.

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