BY MULOTWA MULOTWA
Letter of Credit [ LC] scam.
Former RBM Governor, Dr. Dalitso Kabambe should be arrested.
He has a lot of explaining to do. While the K40 million [ of which K28m was salary] he used to get in cash & non-cash benefits monthly is mind boggling, the rot was deeper than that. Kabambe’s Central Bank issued a Letter of Credit to [their] local company associated with the tribal cabal.
No intention of getting into merits and demerits of the Central Bank involving itself in LCs in this manner, moreso with a private company.
The said local company [ name will be revealed in due course] defaulted & RBM settled the billion K2 billion on behalf of the company.
Just like that! Now, RBM has resolved to retain Mbendera, Nkono Associates to pursue the said company to pay up.
Deloitte Zimbabwe & Malawi are very busy, working overtime & on holidays.