Forced leave for bosses at Malawi Savings Bank -Report

Malawi Savings Bank which was bought from government by FDH Holdings in controversial circumstances at K9.5bn ($21.1 million) has sent two of its managers on forced leave after being discovered to have accumulated excessive leave days that would create a huge liability if they were to stop working for the bank.

Kaisi: Sent on forced leave

Kaisi: Sent on forced leave

Mpinganjira: This is abnormal

Mpinganjira: This is abnormal

According to published report, Deputy Chief Executive Officer Kayisi Sadala and Treasury Manager Million Hera, have been asked to go on leave after accumulating 88 and 150 days, respectively

FDH’s Chief Executive Officer, Thom Mpinganjira said they have discovered that many MSB employees have excessive leave days, with one manager accumulating 300 days

Mpindanjira said the new MSB management led by his FDH, has decided to let everybody clear their days to reduce liabilities

“This is abnormal and dangerous for the bank,” said Mpinganjira as quoted by Daily Times.

“I don’t understand how it was allowed to happen. We cannot allow it to continue like that because if one of them was to resign, it will cost us a lot of money to pay them for the unused leave days, “added Mpinganjira.

Mpinganjira said more MSB employees will be asked to go home and clear their leave days.

On his part, Sadala told the daily newspaper that he accumulated over 80 days leave since 2007 when he joined the bank.

He said limited staff compliment made it impossible for some members to take all their leave days when due

“On my part, for example, my entitlement is 30 days but I have only been able to take 20 days every year. And the bank was supposed to pay me for those days at the end of each contract but that didn’t happen,” Daily Times quoted Sadala as saying.

Sadala’ current contract expires in December this year.

Government finalized the sale of MSB on 2 July, 2015 despite heavy resistance from Parliament.

Malawi government now holds only 25% shares in MSB while FDH Holdings has 75%.

Reports indicate MSB posted a pre-tax profit of K2.5 billion (US$6 million) between January and May 2015.-

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32 thoughts on “Forced leave for bosses at Malawi Savings Bank -Report”

  1. Njolinjo says:

    Failing to go on leave is recipe for corporate fraud.

  2. Mayor says:

    Its good for the bank to decide that way. May I ask the minister of local government to also force some Blantyre city council senior management officers to go on leave. Some of them can not remember when they last went on leave. Start with the human resource manager himself.

  3. Patrick C says:

    keep it up boss. though am also a staff member at msb headoffice but I support your move.

  4. Briliant says:

    Malawians we are very close to goal but very far to score

  5. Mazon Willima says:

    Good For U Mr

  6. GONANI says:

    Malawian companies should introduce a policy of limiting the number of leave days one can accumulate – say to 25 or 30 so that anything over the limit falls away automatically without incentive.

    This will make people behave professionally by taking leave when it is due. Ignoring leave deliberately for the sake of accumulating money is fraud. People with that intention should not have the chance to do it.

  7. wa ku Simba says:

    When someone, even the top dog, does not take vacation, that should be paid off in the fiscal year. To straighten the books, if nothing else.
    Some people do not take their vacation entitlement because they think they are indispensable. Wrong, wrong, wrong. Just look at the graveyards: the world didn’t stop when the occupants of those graves died.

  8. Me says:

    Normally not going on leave means you are hiding something. Cashgate bosses do not take leave because they are afraid their juniors will unleash nasty things in their offices.

  9. Thamanda Shauka aka Big Mamita says:

    From a human resource management point of view, this is the way to go

  10. captain says:

    U said no one will lose the job but wats this now? Some people are commenting nonsense here ,hw can u say everyone must finish his leave days.even in government most of them don’t finish there days coz of nature of their work

  11. mwinyere says:

    in fact that is the practice in government. its good THOM has noticed this and please proceed with your radical decisions to revamp the bank. its your money. you have invested in this. no one should push you around. it is your bank. run it as business not as a government entity.

  12. Pete Nyandoro says:

    The senior staff accumulated many leave days out of greet so they could claim payment. It doesn’t make sense that they were busy and if indeed that was the case let’s see if work will stop now that they are on leave. This is a lame excuse aimed at wasting the company;s money through dubious payment. Much as I was against the sale of the bank, we can now see why it was not performing to the expected mark.

  13. Dorobuchi says:

    I head a branch & I proceeded on 10 days leave. I visited the office on one of the leave days; I found that many officers were not in office @ 8:30am when start time is 7:30. People will always behave differently when the actual boss is not around. Even client favour dealing with the boss. Kaya, we are still exploring Mgt styles.

  14. Wasakala says:

    Is it 75% or 80%?

  15. Alfred Newmann says:

    Looks like the Speaker (Parliament) was in the pay of the authorities on this deal. Otherwise he should have quickly moved to seek a court injunction against it for the sake of national interest. As I see it, now we all have to pay financial homage to this sly-looking young man from… I don’t know where!

  16. Breaking News says:

    When government said there is need for additional capital to meet requirements we all agreed and rightly supported the takeover. The hard rumour is that the new share holders are unable to meet liquidity requirements and have applied for a waiver from RBM. MUSOVA

  17. Zondiwe says:

    People, why do some of you intentionally read messages wrongly? Mr Sadala says he was entitled to 30 days leave, but was taking 20 days since 2007.
    This is normal in many organisations. One would find such a situation even at FDH I guess.

  18. Dr K.K. says:

    That’s my man Thom,clean the mess at this bank ,we need new brooms as they sweep clean.
    300 leave days that ?Abuse of office why these boses were not delegating their juniors so that they had to go on leave.

  19. VIYAZI TEMBO says:

    ADVENTISTS DO THINGS IN ORDER, LET HIM DO THINGS ACCORDINGLY

  20. Hemaso says:

    Chinzili chamoyo chimadya nyerere koma chikafa nyerere zimachidya kikikikikikikikiki gadaaaaaaaa ndikuseka

  21. Willie Chirwa says:

    The story has been authored wrongly, forced leave should not have been the headline but managers asked to enjoy their accumulated days. Whoever thought of workers going on leave wanted employees to refresh the strains they go through in the course of executing their noble duties. Now someone not going on leave for eight years is a joke that’s why the bank was failing to perform because of these saturated brains. Take your days your family needs you and when you come back you will definately have new and refreshed brains to achieve the bank’s objectives.

  22. Happy Eduardo says:

    Of course not going on leave is not a crime but a senior manager should not allow this to happen under the pretense of too much work. Can a senior manager not go on annual leave since 2007? This is not serious! Those that are against Mr. Mpinganjira are but simply clerks in their offices that don’t understand management.

  23. Thyolo Thava says:

    300 leave days? Shaaa

  24. Chikopa says:

    Firstly do no talk about pre-tax profit because that was grossly overstated without appropriate provision for bad debts. Now regarding the leave days, there are skeletons in their cupboards. Mark my words they will not return as they will dig their mischief and be able to successfully fire them without paying them single cent. This is corporate world – Dog-Eat-Dog.

  25. yale says:

    These are some areas that were pulling the Bank down.Clear the mess Mr.Money,Mr Mpinganjira

  26. Tim Masamba says:

    MSB is a private company enough of this rubbish let them do what they want to do!!!

    regards

  27. chinena says:

    All senior officers in the MDF have not gone on leave for years and most have retired without accessing their leave grants! Can the MDF lawyers intervene on this anomally, Liwimbi and Kuwali pliz do something.

  28. MALOPA Jnr says:

    Mpinga road becareful. You are moving at supersonik speed. Dont hide behind payouts. Those things shud have been settled way before you concluded that waywardness take over of the bank. Mxiii. Smacks on personal vendattas.

  29. MALOPA Jnr says:

    Mapwevupwevu govt now at work

  30. Okay says:

    So not going for leave is a crime?

  31. katema says:

    Good idea, leave days attracts a lot of money hence the company looses. Well done THom, they should go on leave atleast to save the company.

    Well done and all is in order.

  32. Mwayambapo kale nkhanza

Comments are closed.