FDH retrenched staff hold vigil at Mpinganjira’s office: ‘Sell of Malawi Savings Bank was in bad faith’

Over 400 retrenched staff of FDH and Malawi Savings Bank (MSB) have entered a third day of vigil at the office of the financial institution’s chief executive officer Thom Mpinganjira in a bid to force him pay them their pension and severance pay.

Thom Mpinganjira: Fired workers protest at his office

Thom Mpinganjira: Fired workers protest at his office

MSB sale was another form of cashgate

MSB sale was another form of cashgate

Spokesperson for the retrenched employees Chifundo Soko said the vigil, staged in Blantyre, will only be called off after the banks honour payments of their dues.

“It is now close to a month since we were retrenched yet management is reluctant to give us our dues.

“We have been asking them to pay us but the answer has always been give us time, the vigil is the last resort,” said Soko.

Financial tycoon Mpinganjira controversially bought MSB which was 100 per cent state owned and merged it with his FDH Bank last year, raising fears of imminent retrenchment but both the government and FDH Bank officials assured the nation on one would lose a job at the banks.

However after the retrenchment, minister of Labour Henry Mussa said the government approved the retrenchments saying there were duplicating positions in the two banks following the merger and as a private entity, they had to maximize on profits.

However chairman of community and social welfare committee of parliament  Richard Chimwendo Banda said the committee has summoned Labour ministry officials to explain why it allowed the retrenchment to take place after assurances by Finance minister Goodall Gondwe that o one would lose a job.

Officials from FDH Holdings including Mpinganjira could not be reached for comment.

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21 thoughts on “FDH retrenched staff hold vigil at Mpinganjira’s office: ‘Sell of Malawi Savings Bank was in bad faith’”

  1. Zuze says:

    When opposition wanted to block the sale of MSB , you said go to hell opposition. Now what are you crying!!!!!

  2. TSOKONOMBWE says:

    Malawians…Mpinganjira is our fellow Malawian . If he was able and successful to open a bank , why not these people retrenched open up their on banks, why were they relying on someone to give them a Job. This same bad altitude is the one which is letting us down.As Malawians we always rely on someone to think for us we do not focus. Kuzolowera kugwiritsidwa ntchito ndi amwenye kapena azungu ndikumasekerela akamakutchulani kuti anyani ‘monkeys’ basi kapena ‘ dziko ndiwanu ndalama ndizathu’.Mixx

  3. kkilembe says:

    Give it to Mpinganjira, he is a business man. He has to make a profit. He is not running a charitable organisation like MASAF.
    Some of us knew retrenchments are inevitable. MSB was keeping a heavy baggage. It is not the cvompany that pays out pensions. It is the pension manager be it Old Mutual or Indetrust or NICO. These workers have no story here. And if I remember, you can not cash out your pension until you are 55 years old. I think this law was passed during Bingu era. You mean MPs dont know this?
    Mpinganjira woyee!!

  4. Malawian says:

    WHY DID MALAWIANS ALLOW LOMWELISATION POLICY TO WORK ON THE MSB SALE? MULLI BROTHERS COULD HAVE BEEN FORCED TO PAY BACK THE LOAN TO KEEP MSB GOING.THAT IS IF REVERAND CHAKWELA WAS VOTED AS MALAWI STATE PRESIDENT IN 2014. THE RETRENCHMENT OF THE 400 STAFF AT MSB COULD HAVE BEEN SIMPLY AVOIDED.

  5. Charombanthu says:

    They say that “if you ask for rain, you have do deal with the mud too…..”

  6. Acquila says:

    Gondwe atule pansi unduna anthu sitidzamukhulupiliranso. Munthu wowona zandalama ndikumanamanso?

  7. Chachaka Maulidi says:

    People received their dues already , nyasa do investigation before publishing uhhh,
    Pension is governed by laws its six month has to lapse for you to access it. Nkhani ili apa ndi ya pension pension ma MP ndi amene amapanga malamulo.

  8. Moses Makoko says:

    FDH is likely to fall in the next 5 years! Expect several law suits from these retrenched people most of whom will win their cases. Expect tax evesion and corruption issues also when government changes too! The drama is yet to start, nobody is late to watch this.

    Those of you who have your spouses working at FDH, the chances are 100% that your spouse is either fucking or being fucked! That’s how it is. For the ladies it’s a way of securing their jobs. For the men it’s order of the day.

    The rise and fall of FDH. let’s wait and see.

  9. OKHAO says:

    Izo! a opposition ankanenatu. Lero ndi izo. Wina mkumati opposition sakuthandiza. A Chisi, A Gondwe, A Kapito mulipo kodi? Mukutipo bwanji pamenepa? Kumpha komwe uku.Tinkanena adathera mu si izi. Anthu amenewa ali ndi mabanja awo ndipo ndikutha kuwona mabvuto awo.Okhao adasiitsidwapo ntchito mwachochi akudziwa zowawa zake za chonchi.

  10. hoi says:

    Wise and dynamic leadership of his excellency

  11. Malawiana says:

    Mpinganjira is a business person. How do you expect him to run a bank like a charity? Parliament don’t waste your time on grilling the labour minister on the retreachement. The real issue here on the severe nice pay. What do the labour laws say? Parliament should make sure people are paid what they are aelwed within the stipulated time frame. Otherwise, you can’t declare what a private company does.

  12. Nyani wa ku Mwananyani says:

    The Parliamentary Committee headed by Banda had better sharpen their pencils and ask relevant pin point and smart questions. What Minister Gondwe said about there being no layoffs is not important: he is not the owner of the business. And that statement was not a promissory note to hold against him. In any way. Asa.
    The laid off employees are morally right, however, to pressure FDH and Mpinganjira to pay up. I mean, Mpinganjira knows already that most us live from hand to mouth in this country. So, how does he expect these people to live and support their immediate and extended families, while they are unemployed or looking for another job? Another Malawian oligarch who thinks because he is rich, nauveau riche, the rest deserve crappy treatment! Aaaaaaaa.

  13. Andrew John Isaac says:

    Mpinganjira abwezere banki yathu ya MSB kwa ife anthu a Malawi. FDH imamukanika kuyendtsa bwino. it is worse m’mene aownjezera MSB. He is unfaithful and unpatriotic Malawian. He shud go to hell.

  14. BABAZULA says:

    DPP WOYEEEEE

  15. Wilson Manyozo says:

    Nothing z gd nw.

  16. chatonda mvula says:

    Go and even have a vigil at his house so that God should teach him to be honest with others. He bought the bank corruptly and boasted that he was the first Malawian to own a bank yet he didn’t know that Maranatha would cash free k3-400 million free of charge as God’s punishment. He is yet to be punished more and please go to Industrial court for quick remedy. Let God teach him a lesson more than he expected.

  17. chete says:

    DID FDH BANK NOT KNOW THAT THERE WUD BE DUPLICATION OF POSITIONS AFTER MERGING?

    WHY WAS THOM MPINGANJIRA LAYING TO THE NATION THAT THERE WUD BE NO RETRENCHMENT? THIS IS WHY NEXT TIME PEOPLE WILL NOT LISTEN TO THIS GOVT

  18. Coldblooded Ghost says:

    FDH bank is destined to fall.A stupid, family-owned bank built upon the shaky bricks of nepotism,cronyism and tribalism.Now their CEO has made 400+ new enemies.It will not survive.I’m giving this bank less than 5 years to crash.If ICB,Loita & FBM can disappear,who does Mpinganjira think he is?Is he aware that Malawi is a very small country?

  19. ken Mwambo says:

    This seriously is a betrayal for the people of Malawi by the government. I am very sure that both government and FDH new that there were going to be retrenchments but they decided to lie. The sale was secretive and the country lost a national asset and now 400 Malawians and their dependents have lost livelihood. Should we really as citizens just watch this government continue to cheat. Is this contrary to the oath that the president took. Search me, by the time this government leaves office, Malawi will have been sold wholesale.

  20. Master says:

    This is very shameful for Thom Mpinganjila to abuse people that way, very sad for govt to sale such a company and betray its citizens this way, am saddened by this nonsense happening at FDH!!! and we have a here a foolish Minister of labour by the name of Henry Mussa here defending job cuts at FDH, yet very clueless on how the victims could access their benefits very quickly!!!!

  21. The Analyst says:

    O……………………………………………………………………………………………………………………………………………………………………………………………………………….O
    Ichichi nde chipongwe ichi . . .
    . . . How does one retrench others and not give them their dues?
    So Mpinganjira thinks that the pain he’s already caused these folks is not enough? Kulakwatu uku!

    First, to be retrenched is no laughing matter – it is to be told that the company can do without you – which is true, but not all truths are desirable, coz some are painful!
    . . . Most people do not know; but one of the most frustrating things one can do in life; is do nothing. Life becomes boring and less meaningful! Kusambanso umasiya munthu!
    . . . Now, how much more boring can life become, retrenched and not given your dues? Jobless and moneyless? Chipongwetu ichi!
    ……………………………………………………………………………………………………………………………………………………………………………………………………………….
    Mpinganjira should have compensated these people by giving them their dues even before being formally informed of the bad news i.e. the money should have been the message of their retrenchment.

    You see . . .
    . . . Taking people for granted, has never ever been known to help anyone in life. Anthu amakwiya and sometimes care less about life.
    . . . What can Mpinganjira benefit if the people (staging the vigil) charge at him and cut off his throat? He would find comfort in having them arrested? Is there any comfort in being dead? So he doesnt think that these people are a threat? A ticking time-bomb?
    . . . Indeed . . .
    “Some people are so poor; all they have is money.” – Patrick Meagher
    Poor, unwise Mpinganjira!
    O………………………………………………………………………………………………………………………………………………………………………………………………………………….O

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