Airtel, Standard Bank ordered to pay client millions

Standard Bank

The High Court in Lilongwe, has ordered Standard Bank of Malawi, and Airtel Malawi to refund Billy Milimbo of BDM Construction K24 million plus compound interest, K71,890,000 as mobilization and demobilisation costs, and K3,600,000 as reimbursement of legal costs and other costs.

According to the 10-paged judgement by justice Ken Manda which we have seen, the court court found that Milimbo lost K24 million withdrawn from his account which was breach of statutory duty imposed upon Airtel Malawi as the first defendant under section 54 of the Communications Act and the Constitution.

The fact of the matter is that some unknown parties visited Standard Bank, which is the second defendant's Blantyre Branch and cashed out cheques amounting to K14.2 million and K9.8 million from Milimbo's account. The cheques were reportedly stolen from him.

The cash out was done on October, 18, 2019 and by that time Milimbo was in South Africa, yet the transactions proceeded without his approval. 

Milimbo claimed he had been advising the defendant to be consulting him for any withdraws to take place but they did not. 

He has also been awarded the costs of the action to be equally split between Airtel and Standard Bank.

“The interest will be assessed if not agreed and the costs will be taxed if also not agreed,” reads the judgement.