Lilongwe Chief Resident Magistrate Madalitso Chimwaza has granted bail to Chimwemwe Kaphagawani, 34 and Success Sikwese, 32, former employees of the Higher Education Students Loans and Grants Board (HESLGB).

The two, former Loans and Grants Manager and Communication Manager respectively, were arrested mid last week on suspicion of money laundering and theft of K335 million, funds meant for students’ loans.

Delivering her bail ruling this morning in Lilongwe, Magistrate Chimwaza has, among other conditions, ordered the two to pay K500, 000 cash bond each, produce two traceable and reliable sureties bonded at K5 million each, surrender travelling documents and be reporting to Area 30 National Police Headquarters once every fortnight.

“The State has failed to convince the Court how the two, when released on bail, would interfere with its investigations hence request to further remand the accused is unjustifiable.

The State had an opportunity to interview its witnesses because it had more time ever since the two were arrested on 29 June 2022,” observed Magistrate Chimwaza.

Earlier, the court order the two to pay a cash bond of K2 million each but lawyer representing them – William Chiwaya pleaded with the court to lower the amount on the basis that the two are currently jobless.

He said: “The initial amount of K2 million was considered excessive that’s when we made an application that the court should revise it to that amount that they should be able to pay.

And the Court indeed listened to us and revised the amount to K500, 000 so on our part we are happy with the revision.”

Hearing of the trial has since been adjourned to a date to be fixed by the court.