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Admarc Fails to Pay Indigenous Poor Traders: Opts to Bailout AHL Employees with K6billion

Admarc headquarters in Blantyre

The Agricultural Development and Marketing Corporation (ADMARC) has come under heavy criticism from indigenous traders who have accused the State owned buying Company for playing with lives of while busy bailing out employees of Auction Holdings Limited (AHL) with billions of kwachas.

“Last year Admarc was authorized by the Minister of Finance to borrow about K22 billion from commercial banks to buy farm produce from farmers and not to bail out a company that is independent and makes it’s on profits within it’s product lines,’ said one trader who spoke on condition of anonymity.

Reports indicate that Admarc borrowed money from CDH Investment Bank to buy maize and other farm produce.

“It remains under the control of greedy political mafias from the Tonse Alliance government, and the magnitude of corruption at this institution is devastating and alarming and one wonders how President Chakwera is talking of “kuchosa nyasi” and yet his top officials and politicians from his MCP are busy plundering the already dead- walking company which survives on hand to mouth and bail outs by getting loans commercial banks,” laments one man who is who supplied maize under Indigenous Traders banner three months now.

AHL Employees: They can now afford a smile

“We signed a contract with this polluted company that after one week they shall pay us the money but up now, the company is playing hide and seek game over our lives. We borrowed money from commercial banks in anticipation that Admarc will pay us. Now each one of us in our fraternity is accumulating interests for failing to pay our banks the loans we obtained because of silly decisions of Chakwera led government.

“We thought that after selling our grains to Admarc, we shall be able to send our children to school and buy farm inputs like fertilizer but now all that is gone,” said one trader who comes from Kasungu but did not want to be named as he is a member of Malawi Congress Party at Regional level.

Admarc was formed in 1971 as a Government- owned corporation to promote the Malawian economy by increasing the volume and quality of its exports before it changed to be a buying empire of government in 2002/3 year.

“We will demonstrate in the streets if the CEO and her team continue to abuse our rights to economic development as enshrined in the constitution. We are tired of these crooks. They keep on changing goal posts each passing day,”said one trader who spoke in anger in the telephone interview with this publication.

Most employees at Admarc feel that the new Acting CEO Dhlelisile Matanda Phiri is just a figure head as Board Chair, Mr Alexander Kusamba Dzonzi is the one dictating the daily operations of the company from his house.

Efforts to talk to Board Chair and CEO proved futile as their phones were off.

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