Blantyre Water Board Chief Executive Officer Yeremia Chihana was suspended on August 28 pending an inquiry into alleged financial and administrative misconduct, according to Nyasa Times. The board accused Chihana of securing an unapproved 500 million kwacha overdraft facility and misrepresenting the utility to international partners, including the World Bank and the European Union. Chihana has publicly disputed the charges. He stated his suspension is retaliation for demanding proper procedures be followed on a $13 million World Bank funded water program.
On the currency markets, the Malawian kwacha closed the week holding steady against major global currencies. Trading Economics data shows the official exchange rate remained flat at 1,733.67 kwacha to the United States dollar on August 28. The currency has shown little movement on the official market over the past month as the Reserve Bank of Malawi maintains its current monetary policy stance to contain regional inflation pressures.