By Mwai Mtumodzi
Malawi Law Society (MLS) has called on real estate companies to strengthen compliance with financial laws and enhance internal controls to curb money laundering and other financial crimes.
MLS Chief Executive Officer, Chrispin Ngunde, made the call during the 2025 Retreat and Training Workshop for Perfect Property Solutions Limited (PPSL) in Salima District.
Ngunde warned that the sector remains highly vulnerable due to the large volumes of money involved in property transactions.
He said real estate firms play a critical role in detecting and reporting suspicious transactions, noting that the Financial Intelligence Authority (FIA) has identified the sector as one of the high-risk areas for facilitating money laundering, largely due to weak regulation and poor compliance by some industry players.
Managing Director of Perfect Property Solutions Limited, Precious Chisi, reaffirmed the company’s commitment to full compliance and ethical business practices.
Chisi said the company recognises the risks associated with money laundering in the real estate sector and has instituted robust internal controls to mitigate them.
“We work closely with the FIA as a key stakeholder, including participating in awareness and capacity-building initiatives,” Chisi said.
Chisi also highlighted the company’s investment in human capital, noting that staff training, resilience, and adaptability are critical in navigating economic challenges.
The retreat was held under the theme ‘Navigating Economic Downturns Through Tech Innovations: Building a Culture of Resilience and Adaptation,’ and featured discussions on ethics, compliance, and professionalism.
