Mzuzu, Malawi—Paramount Holdings Limited, a company owned by Malawians of Asian descent, is once again in the national spotlight — this time for allegedly pocketing public money meant for Mbelwa University in Mzimba.
Firebrand activist Bon Kalindo revealed this week that Paramount was paid to construct the long-promised university but never laid a single brick. “Where did the money go? Only Paramount knows,” Kalindo said, confirming he has reported the company to the Anti-Corruption Bureau (ACB) for investigation.
For many Malawians, this revelation is not a surprise — rather, it is yet another chapter in what’s becoming a familiar story: Paramount Holdings caught up in another alleged criminal scandal.
Nine days ago, Malawi’s Supreme Court of Appeal ruled that Paramount must face judicial review after serious fraud allegations tied to forged documents in a motorcycle supply contract. The company claimed to be Malawi’s sole official Yamaha dealer — a claim Yamaha Japan itself denied, calling the documents fake.
Originally, the Director of Public Prosecutions (DPP), Masauko Chamkakala, tried to quietly discontinue the case. But local business Luthando Holdings pushed back, arguing that Paramount’s actions hurt local companies and Malawi’s economy.
The Supreme Court agreed, criticising both the High Court and the DPP for attempting to shield Paramount. “There are clear triable issues,” said the Supreme Court ruling, allowing judicial review to go forward.
Social and political commentators say these two cases — the ghost university project in Mzimba and the motorcycle supply forgery — show that Paramount is more than just a bad business actor. “This company is a danger to Malawi’s economy and society,” said analyst John Makina.
He added: “When one company can buy its way out of criminal charges and walk away with millions meant for building universities, it’s no longer just a business issue. It’s a national security threat.”
Paramount Holdings has a long history of being linked to unethical practices. During the DPP-led government, it allegedly secured numerous contracts under questionable circumstances, with some officials suspected of receiving kickbacks.
“If Kamuzu Banda were alive, this would not have been tolerated,” said one senior citizen in Mzuzu. “Back in 1971, Kamuzu banned Asians from rural trading posts because he saw what was coming. We ignored his wisdom. Now here we are, dancing with snakes.”
Civil society groups have now called on President Lazarus Chakwera to personally intervene. “This is no longer about one court case,” said one prominent civil society leader who refused to be mentioned. “Paramount’s behaviour affects schools, hospitals, jobs, everything. The President must ensure the law is enforced and this company is blacklisted.”
The Anti-Corruption Bureau has confirmed receiving a report regarding the Mbelwa University funds and is expected to launch an investigation.
Meanwhile, legal experts say Paramount’s directors could face both criminal prosecution and asset forfeiture under Malawi’s Anti-Corruption Act and the Public Procurement Act.
For now, many Malawians are watching closely. “This isn’t politics. This is about protecting our country from being looted,” said Makina. “It’s better to have no investors than investors who steal.”
The Shire Times will continue to follow this story.
