She has introduced austerity measures in the small African country and considers the 14-seat Falcon 900EH, bought by her predecessor for 13.3 million dollars, a wasteful luxury.
Banda is the second woman president in Africa, second to the head of Liberia. She said that the money will be spent on providing basic services to the population of the country.
Late last year, the head of state cut her own salary and that of the current vice president by 30%.
Malawi has a population of 13.2 million people and is one of the poorest countries on the African Continent.
Voice of Russia, TASS