The declaration was made on Tuesday night during a televised speech by President Chakwera.
The Malawian agriculture ministry is charged of bungling the rollout of a scheme that provides farm inputs and discounted fertilizer to rural farmers.
Mr. Lowe is silent regarding the allegations.
Sam Kawale, a former minister of the lands, was subsequently chosen by the president to take Mr. Lowe’s place.
The president promised that his cabinet would undergo other changes soon.