Jumbe CEO of Malawi Development Bank

Economist and former finance Minister Friday Anderson Jumbe  has been appointed as chief executive officer of the government-owned Development Bank of Malawi (DBM) which is expected to start its operations soon to support long term strategic investments for the country.

Jumbe:  CEO

Jumbe: CEO

Jumbe, who contested for the presidency in May 20 elections under the New Labour Party and lost miserably, stepped down as party leader and withdrew from frontline politics .

Ministry of Finance spokesperson, Nations Msowoya, has said Jumbe was given the offer for the.

“He was given the appointment letter some weeks ago,” said Msowoya.

Government wants to establish the Development Bank with loan access at low interest rates in an effort to reduce poverty through sound economic management and governance.

According to the captains  of the business industry,  the bank will be paramount in steering the country’s economic development as it would boost Small and Medium Entrepreneurs (SMEs).

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6 thoughts on “Jumbe CEO of Malawi Development Bank”

  1. The concept of a development bank is great. The selection of CEO is not.

    His track record in terms of milestones is poor. I thought we would see a vibrant young person in their late thirties with bright ideas for the nation.

    I see all this valuable capital going down the drain as bad debt. Please disclose the Board of Directors which will determine if this is a reality or a white elephant.

    Who are the share holders, what projects will be taken on by the bank? I hope not those only related/ friends to the current government.

    Please give us more information.

  2. Black Market says:

    Bola Mpinganjira Thom zikanamveka. Number? Ndakaika.

  3. Kadzanja says:

    Malawi Malawi Malawi!!! Here we go again. Anthuwa ndi amodzi. They are here to share what remains of our country Malawi. You and me kwathu mkulila.

    Someone said rating all the finance ministers since independence Jumbe is the waste. But today he is given this job. Is he not the same guy who during his his time at Admarc made so many blunders, including selling maize to Kenya? Many people died at that time. Is he not the same guy who was answering charges of failling to show where he got money for building his Superior Hotel? You remember there was a company called NOIL, which went under when he was GM at that company. What new ideas will he bring to the new bank?

  4. Ophiri says:

    Really? Granted he is a brilliant guy. But dare i say is he not the same Jumbe who is responsible for bringing down MDC aka Malawi Development Corporation? Now I get why he was so quick to concede defeat in the past elections. He was promised a chibanzi it terms of the same position he had in MDC.

    God help us.

  5. So tenthani is right to say this is a government of hyenas!!!! How come this fool by the name friday jumbe
    is being given this too job!!!!! The guy is thief!!!! So the hyenas are enjoying the rotten carcus called malawi!!!!! A country of fools, a gvt of fools by the fools for the fools!!!! Get ready idiots hyena jumbe is warming up to chew
    ur taxes!!!!!!!!!!!!!!!

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