Audit results by the Reserve Bank of Malawi (RBM) have revealed the looting of K340 million, as the findings have led to the probing of the central bank’s manager of Financial Operations, Charles Mkachulu.

RBM spokesperson Mbane Ngwira said K340 million is suspected to have been stolen. “The suspected employee has been making unsupported transfers from a government ORT [other recurrent transactions] account to a stationery supplier, Ideal Stationery,” he said.

Meanwhile, amidst the investigation, RBM has taken up on other law enforcing agencies such as Fiscal Police, Financial Intelligence Agency (FIA). FIA director Atuweni Juwayeyi-Agbermodji confirmed they are taking part in the probe of the fraud but decline to give further details, saying it is “an ongoing investigation.”

In other news, a report by Transparency International, had shown that Malawi has ranked two places up from its Corruption Perception Index (CPI), from 122 to 120, out of 183 countries.

The 2018 results show that Malawi shares the position with Mali, Liberia and Ukraine. Noting the slight improvement, the National Cordinator of the Integrity platform, Jeff Kabondo added that further improvement against corruption would attract foreign investments that would help grow the country.