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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Zuze
Guest
Zuze
5 months 5 days ago

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

TSOKONOMBWE
Guest
TSOKONOMBWE
5 months 6 days ago

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

kkilembe
Guest
kkilembe
5 months 6 days ago

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!!

Malawian
Guest
Malawian
5 months 6 days ago

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.

Charombanthu
Guest
Charombanthu
5 months 7 days ago

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

Acquila
Guest
5 months 8 days ago

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

Chachaka Maulidi
Guest
Chachaka Maulidi
5 months 8 days ago

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.

Moses Makoko
Guest
Moses Makoko
5 months 8 days ago
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… Read more »
OKHAO
Guest
OKHAO
5 months 8 days ago

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.

hoi
Guest
hoi
5 months 8 days ago

Wise and dynamic leadership of his excellency

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