| |
|
During his one-party rule, Banda accumulated at least $320 million in personal assets. He was one of the few African rulers to establish diplomatic ties with South Africa during apartheid and only became partially rehabilitated in the eyes of other African leaders after the demise of the apartheid regime in South Africa.
Banda finally allowed democratic elections in 1994, and he was soundly defeated by Bakili Muluzi, a Yao from the Southern Region of the country whose two terms in office have not been without serious controversy. Banda died in a hospital in South Africa in 1997. The party he established, the Malawi Congress Party, continued after his death and remains a major force in Malawi politics.