Malawi govt clueless on K12bn bank sales proceeds

President Peter Mutharika and his government are clueless on how to use the K12 billion realised from the controversial sale of Malawi Savings Bank and Inde Bank.

Msowoya: We will meet to decide what to do with the money

Msowoya: We will meet to decide what to do with the money

Spokesman for Finance ministry Nations Msowoya told a local radio station Wednesday that his ministry is yet to consult on how to use the money which is already in governments account number one..

“We will have to meet and decide what to do with the money,” said Msowoya raising fears that the DPP led government might misuse the public funds.

The opposition and civil rights groups insisted on transparency and accountability in the sale of MSB and further accountability on the use of proceeds from the sale of the two banks.

Msowoya could not say when government officials would meet to decide on what to do with the proceeds.

Government went ahead to sell MSB to Thom Mpinganjira of FDH Holdings despite stiff opposition from parliamentarians and civil rights groups .

In random interviews in Blantyre city Wednesday, most Malawians have wondered why government did not make prior budget to the bank sale proceeds taking into account that such money has been abused in the past fearing this might be another calculated cashgate.

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Bwengu
Guest

Headless govt, selling without plan on what to do with the money realised. Learn to consult before implementing these sales. Mukatifunsa ife tinena kuti kabwezeni MSB ikhale ya boma basi.

Kachulu
Guest

Shame how can u sale something without aim on it?Is redeculous even a farmer when is selling crops they prepare how they spend on the money the will get from their crops but u,U sale both banks without aim 4the money? Shame really!

chiya
Guest

anthu tulo, that money has already been used.

Khuth'upa o'Machemba
Guest

Is the government really showing that it is clueless, when it is taking time to figure out things?
I hope the government does not get bothered by this ridiculous accusation: there is need for thorough and rigorous analyses here.
If it was PP, they would have spent the money on useless ventures; or they would have stolen the money, even before it left MSB. And that is the truth. Asa!
Just like when investing one’s own money: phuma (being in a hurry) is one of the cardinal sins one wants to avoid!

Mahopu A Savala
Guest

Use K4 billion and K8 billion to renovate Mzuzu and Kamuzu stadium respectively.

Achawa Business Consultancy
Guest
Achawa Business Consultancy

Invest it in longterm tangible projects i.e infranstructure ,

Saeed Allie
Guest

Koma amalawi umphawi mpaka osowa atsogoleri. Izi zochita zinthu kuti tatame kuti Iwo ndiowo koma nzeru palibe zoti ndalama atani nazo zoona shame

Saeed Allie
Guest

Do we have a leader at all? Mmene amapanga zayekha zogulitsa bank ndalama amati atani nazo. Tiyeni amalawi tipeze anthu anzeru ayendetse dzikoli izi ai ndithu zakanika.

Mayo
Guest

Very interesting indeed, no medicine in hospitals, mortuaries not working, civil servant not getting their salaries , poor roads, government offices being closed because of non payment of rent. Then someone with a working brain telling us they don’t know what to do with the money. I think there was no plan because the money is meant for another cash gate. Komatu boba ili likutitola eti, lachifote lizakwanatu.

Owen Jeremy Kamkondo Phiri
Guest
Owen Jeremy Kamkondo Phiri

Msowoya, tiuzeni ngati mukuuza anthu oganiza. Zoona munthu ungagulitse katundu wanyumbb ulibe zochita ndi ndalama zakezo? Remember boma limati lithetsa umbava, koma kuba kupose apa? God come and judge us!

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