Yusuf Investments chair Shiraz Yusuf risks arrest after refusing Parliament hearing

Malawi’s Parliament is considering contempt proceedings that could lead to the arrest of Yusuf Investments Limited chairperson, Shiraz Yusuf, after he declined to continue testifying before a parliamentary committee.

The Public Accounts Committee (PAC) is probing the sale of the Amaryllis Hotel to the Public Service Pension Trust Fund, a transaction it says is of significant public interest.

PAC Vice-Chairperson Tulinje Muluzi said the committee invited Yusuf to provide clarification on key aspects of the deal, including the purchase price and movement of funds.

Yusuf had requested an in-camera hearing, citing security and confidentiality concerns, but the committee rejected the request, saying there was no sufficient justification to move away from open proceedings.

“While we appreciate concerns on personal safety, we were not satisfied that adequate grounds were presented,” Muluzi said.

He added that Parliament has constitutional powers to summon individuals in the course of its oversight work. When the committee insisted on a public session, Yusuf declined to proceed with his testimony.

The PAC has since resolved that the refusal may amount to contempt of Parliament and is now considering possible legal action, including arrest proceedings.

Muluzi said the inquiry remains focused on accountability and protecting pension funds belonging to ordinary Malawians.