In a triumphant declaration to the local media on Sunday evening, Wester Kosam, Chairperson of the state-owned Salima Sugar, announced that the company has finally turned the corner and is now posting profits.
This revelation is a beacon of hope following the tumultuous financial scandal that plagued Salima Sugar, where officials from the former ruling Democratic Progressive Party (DPP) conspired with Indian partners and the Malawian government to siphon funds for their personal gain.
The scandal left the company burdened with a colossal debt of over 20 billion kwacha, which it struggled to repay. However, Kosam proudly revealed that, thanks to the newfound profitability, Salima Sugar has managed to repay 2 billion kwacha of the outstanding loan, signaling a promising turnaround.
Joseph Masina, a respected Senior Social and Political Analyst, lauded this development as a testament to the resolute leadership of President Chakwera.
“The restoration of order at Salima Sugar is a clear indicator of Chakwera’s decisive governance. Much like the transformation seen at EGENCO, where stability was restored under his watch, Salima Sugar’s resurgence is no coincidence. This is the kind of leadership that Malawians have yearned for,” Masina asserted.
