Malawi to appeal 300 billion kwacha Finance Bank award
By the AFREEQUE newsroom, based on The Nation Malawi
Malawi Attorney General Frank Mbeta announced that the state will challenge before the Supreme Court of Appeal the 300 billion kwacha award granted to defunct Finance Bank Malawi. The central bank revoked its licence in 2005, a decision ruled unconstitutional by the Supreme Court in February 2026, which ordered an assessment of damages.
The Malawi government will challenge before the Supreme Court of Appeal the 300 billion kwacha compensation awarded to Finance Bank Malawi, a bank whose licence was withdrawn in 2005. Attorney General Frank Mbeta said on Tuesday that he would seek a review of the decision within the week, considering the amount excessive, according to The Nation Malawi.
On 4 November 2026, Supreme Court assistant registrar Ibrahim Hussein ordered the Reserve Bank of Malawi, the Malawian central bank, to pay this amount to Finance Bank Malawi. The compensation includes 157.5 billion kwacha for loss of business and profits, 138.12 billion for malfeasance in public office and 150 million for breach of constitutional rights.
The Supreme Court ruled on 3 February 2026 that the withdrawal of Finance Bank’s licence was unconstitutional and ordered an assessment of damages. The bank had initially claimed 1.1 trillion kwacha, while the state argued that it should receive only nominal damages, according to The Nation Malawi.
The dispute dates back to May 2005, when Finance Bank challenged the withdrawal of its licence. The bank reopened on 6 June of the same year before entering voluntary liquidation in January 2006.
