The High Court’s Financial Crimes Division has dismissed an application by former Reserve Bank of Malawi (RBM) Governor Dalitso Kabambe seeking to permanently halt criminal proceedings against him.
Kabambe, alongside Henry Mathanga, Cliff Kenneth Chiunda, and Joseph Mwanamvekha, faces charges of conspiracy, making misleading statements, and money laundering.
He argued for immunity, claiming that actions taken in good faith during his tenure as Governor and Chairperson of the RBM Board (2017–2020) should shield him from prosecution. Kabambe cited Section 15 of the Reserve Bank of Malawi Act and the institution’s Code of Conduct, which state that personal liability only arises in cases of proven bad faith.
Kabambe defended the USD 350 million Treasury Note transaction with Afreximbank, saying it was Board-approved and intended to restructure government debt and reduce interest payments.
However, the court ruled that his arguments for immunity were insufficient to stop the trial at this stage.
