Former Finance Minister Ken Lipenga says businessman Leston Mulli’s court victory is not just a personal triumph but a win for local enterprise and indigenous investment in Malawi.
Reacting to the recent High Court ruling that nullified a government directive barring companies linked to Mulli from doing business with the State, Lipenga said the development sends a strong message about the need to support home-grown investors.
In a Facebook post, Lipenga recounted Mulli’s rise from humble beginnings, recalling how he once helped his late father sell farm produce in Nyezerera, Chiringa and Limbuli before building one of Malawi’s largest business empires.
“The times we are living in have reinforced an important lesson. The reduction of foreign aid, together with the violence, expulsions and hardship experienced by Malawian migrant workers in South Africa, has reminded us that our long-term prosperity cannot depend primarily on the goodwill of others or on opportunities beyond our borders,” wrote Lipenga.
“It must also be built by those who invest, innovate and create jobs here at home.”
The former minister said entrepreneurs such as Mulli deserve recognition for creating jobs and contributing significantly to the country’s economic growth.
The High Court recently ruled that the 2012 directive issued by the late Attorney General and Minister of Justice and Constitutional Affairs, Ralph Kasambara, was unlawful.
Justice Allan Hans Muhome found that the directive was issued without legal authority and without giving Mulli and his companies an opportunity to be heard.
The court further ordered that damages arising from losses directly linked to the ban be assessed if both parties fail to agree on compensation within 14 days.
The moratorium reportedly resulted in substantial losses for Mulli’s businesses, including the withdrawal of a US$30 million loan from the African Export-Import Bank that was meant to finance mobile phone company CELOCOM.
Mulli’s MBL Holdings comprises more than 23 companies operating in different sectors and remains one of Malawi’s biggest indigenous business conglomerates and employers.
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