Goodall ‘sorry’ as opposition demand answers on Malawi Savings Bank sale-

Minister of Finance, Economic Planning and Development Goodall Gondwe had to apologise to the national assembly on Tuesday for not appraising the House of latest developments developments surrounding the controversial disposal of the wholly State owned Malawi Savings Bank (MSB).

Gondwe:  I will make a statement

Gondwe: I will make a statement

Gondwe said he had not informed parliament because of the court injunction which some MSB staff members obtained against the sale. The court order has since been vacated after Attorney General Kelekeni Kaphale challenged it.

The Finance Minister said he has since requested the leadership of the House to give him time to make a statement on the history of the MSB sale and what it means to replace toxic assets with promissory notes.

Gondwe was taken to task by opposition members of Malawi Parliament (MPs) to confirm that the bank sale to FDH Investment of Thomas Mpinganjira will be completed on Wednesday, according toSalima North West MP Jessie Kabwila (Malawi Congress Party-MCP).

Kabwila also took Gondwe to task on why government had not informed parlaiment on the decision to bail out some borrowers who created toxic assets in the bank’s loan book before the sale.

Those who have been bailed by government are mostly members and financiers of the Democratic Progressive Party (DPP) .

Kabwila warned: “We are prepared to do anything until we have satisfactory answers. We want some answers.”

Gondwe said most of the issues being raised did not contain “actual facts.”

According to Finance Minister, there are at consultations currently taking place but did not elaborate.

President Peter Mutharika was under fire from various commentators for failing to tackle the MSB issue in his State of the Nation Address which he delivered in Parliament last week.

But Leader of the House, Francis Kasaila, defended the President, saying the matter will be handled by Finance Minister.

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41 thoughts on “Goodall ‘sorry’ as opposition demand answers on Malawi Savings Bank sale-”

  1. Henderson Tepeka says:

    MSB yapita koma ndalamazi muzatha kudzidya ? Look what ar the benefit of selling Msb? Kodi anzanga ndiyankheni or help me iz this happening in other countries in Africa? Zachisoni

  2. Haddss says:

    Tiyeni nazo boma langanga limenelo

  3. Frank Ndili says:

    We should not beat about the bush here: whatever technical justification Gondwe will give for the sale of this bank, they are only justifying why they want to steal. Mutharika ndi anzake onse mu cabinet na kawalala. It is very encouraging that parliament, CSOs and the general public are eager to act in order to stop this madness stirred by the highest office in the land. This is a scandal and Gondwe must resign! DPP is taking Malawians for granted.

  4. edward says:

    Koma zili kwathu ku Malawi su nganvetse kugulitsa MSB popanda proper consultation with thé paliament and thé public opinion its daylight roberry onother cashgâte zomasankha nkhalambazi kukhala nduna ya zachuma sibwinoyi Thérè are brilliant young éducated malawians that can take malawi’s économy forwerd Gondwe your too old for thé job

  5. The Most Concerned says:

    No word can revert this. Remember the controversial sell of Mapeto Davidwhitehead.It went ad cheap as 4million

  6. bille says:

    Mmmmmm….koma anthu angabe dzuwa likuwara…tatipaseni maina ya anthu onsewa akuba a DPP, please.

  7. watereka says:

    kkkkkkkkkkk……zili ku nyasaland

  8. Denguzman. says:

    Goodall, kudyelera dziko mwadyelera koma vuto lanu ndi chani? Basi mukufuna kuti mudzagwere anthu mmaofesi? Osamayetsa dala mtundu wa Malawi. Anthu ambiri panopa akuvutika chifukwa chokonda kugulitsa ma company a boma koma inuyo zimakupindulira koma anthu wamba palibe chimene amapindula nacho. Kodi matchonanu bwanji otsabwelera kumene munali coz here we have young intelligent economist amene atha gudwira bwino ntchito kuposa Goodall. Apatu Amalawi tikufera mbiri osati mnzeru.

  9. Balamanthu says:

    The following is why Malawi does not develop:

    (a) There is a clique that has so much power that they influence what happens in politics and economics of the country.The motive they use is personal gain and they dont consider the ordinary Malawians.Unless Malawians are able to identify the group that holds the country hostage to its whims, we will never move forward because these people keep getting hold of any party that comes to power and further their wants and whims.

    (b) The country runs on serious discreminatory policies of certain groups of people because they feel it is a god given right to do what they are doing.The segeragation that we see being practised by Mulhakho wa alomwe deprives other Malawians from contributing meaningfully to the development of the country.We do need a law that outlaws local apartheid and discrimination.I want to see a good and sensible parliamentarian propose a private members bill to audit how the current government has appointed key staff across government and produce statistics which will clearly annotate discremination of the highest order.Those that promote discreminination should be jailed.

    (c) Corruption has become a way of life in the ruling party and in the private sector.We do need a transparent and accountable government that tackled and deals with the problem.As I speak, the president eats out of palms of many Indians and business people and most of his ministers and staff are prisoners of corruption.

    (d) Some people have overstayed in their positions and have become stale and dont add value to enhancing the development of their companies, organizations and ministries they run.One CEO who has run the biggest conglomerate for the last 13 years has run it dow such that the net value of that organization is a 10% of what he took over.The board that runs that organizations is so impotent that they can fire him such that the effect of its collapse are felt countrywide.

    (e)The President gverance systems are terrible.Malawi is the only country in the twenty first century that wastes tax payers money on congratulatory messages on peoples TV for obvious and stupid events in the world.Malawians need to learn to be productive and stop complaining.

    The MSB issue is a typical issue of theft by the same clique that drives the politics and economics of the country.Somebody neds to put a stop on this.Even kaphale by vacating the injunction is just being stupid and egostical.

  10. John Yosefe says:

    Goodall and late Kalonga Stambuli trickery made Whitex [DWS] sold to Mapeto amid protests from employees and public. Goodall is mafia and this company [MSB] is gone. You can’t stop Goodall. Mwachepa kwambiri

  11. maliphuka says:

    This Peter is so sturbon how I wish undule had not become a born again

  12. chipapwiche says:


  13. chipapwiche says:

    I think most Malawians just jump into commenting on issues without doing proper research. Do you think of all Economists in Malawi Goodall can be the most influencial? Does the sell of a whole bank need one person to make a decision? Let us make thorough research and find out what happened and what is happening and what will happen thereafter.

  14. mona says:

    Goodall ndi chitsiru kununkha mkamwa ngati chilonda Cha nyau

  15. Njalayamalamuchiuno says:

    The Government is acting disgracefully on this matter of MSB. If it was indeed a listening Government, it would have by now gone back to the drawing board either than trying to justify a controversial sale through all possible means. Apart from the Mk92 billion Audit,this is another issue which the Government has clearly shown that it is burrying its head in the sand and,in the process, completely losing trust from its own citizens.

  16. anakubala says:

    Dada uyu sono walikuzyoka big bootlicker,chilichonse amantiiii yes bosss,zilikoooo pa nyasalande

  17. dhuah says:

    What a shame on so colled cashgaters just eating and robbing state funds

  18. Apao Kugola says:

    Can’t somebody ask how different will the MSB bank be operated if sold to FDH bank? What will be at stake for the people of Malawi, the current owners of the bank? Will the sale create customer equilibrium or otherwise make the people who are serviced by the bank worse off? Everybody commenting on the issue just jumps into complaining and not engaging in a serious brain-cracking debate on the macroeconomic implications of the sale and how Malawi as a nation will be affected.

    Shaaa, kulemba zapagulu sikufunika kumalemba ndi phuma yayi…

    Lero jino tindame apano.

    The Fearless samurai (Jwampiriu) – Wa Kongeresi: Kwaacha!

  19. Kadzanja says:

    The economic policies which Hon. Gondwe persues do not benefit ordinary Malawians. He is so sturbon that once he decides to sell a government company, no matter what, he does that. He comes up with good reasons to convince people.

    The best example is the issue of Air Malawi. That company had potential to survive, but Goodal put his foot down and made decision to sell. When Joice Banda came, she had to finish the deal started by Goodal and the late Bingu. These two, Goodal and Bingu had motives because that time Air Malawi needed just 1.2 billion to be back on its feet. Banks were ready to give Air Malawi this amount only if there was garantee from government. But Goodal and one Mandiwa refused to give a garantee. It was very painful to Air Malawi Staff because at that time one individual was able to get a loan of over 4 billion Kwacha from Malawi Savings Bank, which up to now he has not paid back. It is a toxic asset, whatever that means. Does it give sense, to refuse bailling out a company which was employing so many people and could have paid back the money but giving money to one individual, who is not paying back the money.

    As a result of that selfish decision, Malawi is country without a flag carrier. You can not wholeheartedly say Malawian Airlines replaced Air Malawi. Malawian Airline is just a branch of Ethiopian Airlines in Malawi. How do you call an airline a national flag carrier when there are no flag colours painted on the planes?

    Less than 10% of staff at Air Malawi were employed by the new company. The majority are unemployed up to now.

    I can asure staff at MSB, they will face what their collegues faced at Air Malawi. Thats Goodal Gondwe and DPP policies.

  20. john says:

    The truth is that within the 5 billion that Mulli owns the bank,muli 3 billion ya Bingu yomwe Mulli was just used as a conduit hence the panicking for govt to sale

  21. commentator says:

    What we want is a culture of transparency, accountability and respect virtues that are lacking from the side of government, purely because they think they can do what they want in the manner they like. Amangwetu, tidzipatsana ulemu. Might does not make right. Bomalikungochita zinthu mom we lifunira, zadala. But what goes up, eventually comes down and what goes round comes around. There’s a time of the day when chicken come to roost. Government will not go away with such things for too long. As citizens, we demand nothing short of transparency, accountability and respect. We will fight with what we have, if these values and expectations are trodden upon. Forewarned is forearmed.

  22. honourable says:

    Will close our accounts at FDH bank if u continue with ur tricks

  23. Sapitwa says:

    What would have been good between selling the Bank and bailing it out?
    Bail out but fire all non performing employees and see people and CSO demonstrating. Sell it to experts who privately could re-engineer it by laying off dead woods. This would have been a private matter without affecting the government.
    For a good business case, sale this dead wood so called MBS.

  24. NAC says:

    Lets block this Sale until Mulli pays back the billions Bingu stole!

  25. Alfred Munduwabo says:

    Goodall where is your walking stick , you lied to Malawians that you were sick , it was one way of of not wanting to be prosecuted for the Midnight Case ?
    You stole money for fertiliser with Tumpale Mwenifumbo and Bingu. Big crooks you are you all.

  26. Rodriguas Latata says:

    The dynamics of politics and financies have overtaken Goodall so much so that he talks shit that is senseless.
    He is a spent force, he has overstayed his welcome. He is a liability to our country’s politics.
    Urging the Kabwilas to keep the pressure on these thieves until they drop.

  27. Yesaya Dziko says:

    Goodall, the issue of msb sale came to parliament during the last sitting after that you have been commenting in the media. Injuction had been issued few days ago. Are you saying all this time you were restricted to comment? Why cheating Goodall,why? Can you for once say the truth imwe wa Gondwe?Check your age?

  28. Zoziyamba Dala says:

    Mulli ndi Pitala aziyangana kutsogolo ndalama zomwe anabwereka Mulli muzabwenza mosakaika musazati ndi ndale chifukwa boma likazasintha ziwani pothawira business zanu zizaola.Mulli abweze kaye K6 billion yathu .

  29. Yesaya Dziko says:

    May God help us

  30. Abonzi says:

    Mtumbuka uyu anatha anali kale. Anatsala kumangoti yes bwana basi.

    1. Tiyanjane says:

      Alibe dzina? Kalankhulidwe kotelo ndikamene kakutilephelesa a malawi kugwirizana against this massive looting of your and my wealth. Zo khalira kutchula mitundu sizikuthandiza.


    pipos bank belong to pipo and there is no need for selling it without consulting the owners. MSB is the only bank close to pipo in the rural area.



  33. Kenkkk says:

    Abale a kasaila, still the president should have mentioned msb in his speech. The finance minister only comes out with the details later. Peter should have said something on msb whilst telling the nation that Goodall will produce more details.

    Where is leadership here? Some issues of national importance require the president to open his mouth and speak to the nation, not in detail, that is for the technocrats but in passing so that he can show the nation he is serious about the issues.

    But we know Peter doesn’t speak on any national important issues where he has serious conflict of interests. Just take nacgate for example. Msb sale falls into the same boat.

  34. Kadakwiza says:

    Corruption, corruption, corruption, corruption, corruption, corruption……….

  35. nsonga ciswe says:

    CE goodal anataka kale osagwidwa BP yaiwalidwa.zomakanilila mmipando ngati kulibe oidziwa ncito yanyui. Aphuzitseni wena azigwila. Nanga Ku mangokhala ma recycled basis. Munya mkufa

  36. Xenophobia says:

    Olo mutibele osaukafe, kufa kulipo basi, ask bingu if he is still eating spaggette where ever he is. Pano ndi chikuni cha moto.

    1. Baba wa Boyi says:

      At least Gondwe will die of old age, as it should be. Nanga inu mufa ndi chani? Njala? nthenda? kapena nsanje? take your pick all three are very miserable ways to go. Bola old age.

  37. MOG says:

    Goodall was real some time back. but now he is comletely nothing, not no body. I think old age is impacting alot. Watha basi.

  38. Stop selling MSBank it belongs to MALAWIANS

  39. Joseph says:

    Sorry? What an idiot!!

Comments are closed.