Government owes Mpico K2.3 billion in rentals

post was last updated: July 17, 2019

By Watipaso Mzungu:

Edith Jiya

The government owes Malawi Properties and Investments Company (Mpico) a staggering K2.3 billion in rentals, a situation that has reportedly suffocated operations of the company.

Mpico Board Chairperson, Edith Jiya, said they were struggling to acquire and develop new land/plots because of lack of financial resources.

Jiya made the remarks on the sidelines of the firm’s annual general meeting in Lilongwe.

“These rentals have overstayed and have negatively affected our operations. We believe that if the government could pay us this money, we would have been able to buy more land and build more houses thereby contributing to the proliferation of decent housing and office space in our cities,” she said.

Jiya added that her company had engaged the Ministry of Lands, Housing and Urban Development to push for quicker settlement of the debt.

She said Mpico continued to register some growth in the year gone by.

She expressed optimism that the business would improve even better in the next financial year.

Ministry of Lands, Housing and Urban Development public relations officer, John Chikwemba, confirmed the development in an interview on Wednesday.

Chikwemba could, however, not commit himself on when the government would settle the rentals.

“We’ll provide necessary feedback as soon as possible,” he said.

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