Two arrested over theft of millions meant for student loans

Two employees at Higher Education Students’ Loans and Grants Board (HESLGB) have been arrested in Lilongwe for allegedly stealing MWK335 million (US$326,000) meant for students’ loans, writes Russell Kondowe for Malawi24.

In April this year, it was revealed that about MWK300 million (US$292,000) was stolen at HESLGB between 2018 and 2019 through a private institution of higher learning called the Africa University of Guidance, Counselling and Youth Development.

The university was reportedly struggling financially and failing to pay rent and the loans board, whose mandate is to provide loans to students in institutions of higher learning, advised the university to appeal for funds from the board. The university made a proposal for a donation of MWK10 million (US$9,750), but the board sent MWK300 million. The board then asked the university to return the additional money but to various accounts belonging to employees at loans board.
Full report on the Malawi24 site