Minister of Finance Sosten Gwengwe has described the controversial 6.8 billion dollar (Over MK 7 trillion) Bridgin Foundation deal as ‘nonsense’.

The multi-billion kwacha loan deal was signed last year by Gwengwe himself on behalf of Malawi in presence of President Lazarus Chakwera during a ceremony held at State House.

However, speaking during 2023-2024 Pre-budget Consultation meeting in Lilongwe, Gwengwe said the deal does not exist.

“Kulibe anasainira kuti kwabwera ndalama 6.8 billion chani-chani-chani… that’s just nonsense, the real issues are the ones we are talking about.

Osati kudzangosewera kuti BRIDGIN foundation, eh chani-chani-chani that’s nonsense, put in aside,” said Gwengwe

The 6.8 billon dollar deal was meant to finance projects that are believed to have the capacity to help Malawi achieve Vision 2063.

The projects include the development of power generation facilities with total capacity of one gigawatt and related infrastructure.

Construction of Inkosi ya Makosi M’mbelwa University with Hi-Tech Livestock Industrial Center and construction and equipping of a Hi-Tech bioscience and fertilizer manufacturing industrial part at Luanar.

The other projects include; construction, equipping, and full operationalization of a Hi-Tech Kamuzu University Teaching Hospital in Blantyre with satellites in Mzuzu, Lilongwe and Mangochi and the construction of Twin Towers at Capitol Hill that will house government offices.

The construction and equipping of Mzuzu University Teaching, learning and Research facilities for geo-mining and establishment of business park and also the construction and equipping of Malawi University for Science and Technology (MUST) hi-tech technology and engineering hub.

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