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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37 thoughts on “Malawi govt clueless on K12bn bank sales proceeds”

  1. Bwengu says:

    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.

  2. Kachulu says:

    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!

  3. chiya says:

    anthu tulo, that money has already been used.

  4. Khuth'upa o'Machemba says:

    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!

  5. Mahopu A Savala says:

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

  6. Achawa Business Consultancy says:

    Invest it in longterm tangible projects i.e infranstructure ,

  7. Saeed Allie says:

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

  8. Saeed Allie says:

    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.

  9. Mayo says:

    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.

  10. Owen Jeremy Kamkondo Phiri says:

    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!

  11. The Future is Here says:

    KEEP IT SAFE IN THE SAME ACCOUNT. DO NOT USE IT. THE MONIES WILL BE REFUNDED BACK TO THE BUYERS. WE WILL GET OUT BANK BACK BECAUSE IT IS PART OF OUR PLANS ESPECIALLY THAT IT HAS GOT MORE RURAL AREA CUSTOMERS. IT WILL BE DEMONSTRATED THAT THE SELL WAS ILLEGAL.

  12. Cosma says:

    And You Are Now Planning To Sale Escom? Poor Malawi Poor Minds Big Empty Heads. Why Then Did You Sale Msb Despite All Opposition From The Citizenry? Only To Hear Of Another Midnight Deal? God Forbid!

  13. wakwatabu says:

    bugdet yabwino ndiyoti mupeze mankhwala a msiyeni apite kuti amalawife tizingoti duu!

  14. Pempho Wa Ku Nkhoma Bauleni says:

    Zanzii zimenezo ngati mwalephera kuva maganizo ya anthu pomwe amaletso kuti mugulitse bank ndiye pano muzibwela ndizamkutukutu zanzi pano maganizm yanthu ndiye aveke? osamadya bwanji ngati ufuna utipaka nkhoko kukamwa eti?

  15. vic says:

    if the whole machinerly doesnt know how and when to use the money,how do u expect a local malawian to fully utilise the little resources they have?how did u use the money of the first convict in the cashgate saga?how will u use the money and other assets you wil get from other convicts to come?if u dnt know,who will know?just share the money as usual,we wont get surprise at all.thanks for reminding us that there is this money,otherwise we all forgot it the same night you sold the bank.

  16. nana says:

    Construct new tarmac roads

  17. Mwana Mulanje says:

    You can do mapwevupwevu with these millions!

  18. Ngedoma says:

    idyana ndalamazo ife zisatikhudze coz da tym u wanted 2 sale it u dd not consult us so why now??? Tafunani ndithu zinazo mulipilire moyo wanuwo kt ukhalenso wautali

  19. stanly nkunika says:

    asiyileni azitafuna ndi nthawi yawo, God should be the jaji here

  20. Kandapako says:

    Zimenezi zidyewe basi!!!! Inu osadabwa kuti President wayamba kuyendayenda tsopano!!!

  21. John says:

    FREE ADVICE TO GOVERNMENT. USE THE MONEY TO CONSTRUCT SOMETHING THAT WE CAN POINT AT. I HAVE IN MIND A DUAL CARRIAGE ROAD FROM LUMBADZI TO BUNDA ROAD BLOCK AND OTHER DOUVBLE LANE ROADS IN ALL OUR CITIES OF BT, ZA, LL, AND MZUZU; STATE OF THE ART INTERNATIONALAIRPORT IN LILONGWE WHICH WILL OPEN THE AIRPORT TO MORE FLIGHTS AND HENCE MORE TOURISTS COMING TO MALAWI. DONT TELL US THAT YOU WANT TO BUY MAIZE. NOBODY WILL HAVE A FEEL OF THAT IN THE LONG TERM. WE WANT SOMETHING THAT CAN STAND OUT FOR A LONG TIME.

  22. chimwemwe says:

    Mulupira ma rentals ku MPICO it is embarrassing for government offices to be closed

  23. Tengupenya says:

    the budget is not fully funded, and they do not know what to use the money for?

  24. Truth Recognizes Truth says:

    Free advise to Government. Use the proceeds to construct and upgrade roads in major cities of Lilongwe, Blantyre, Mzuzu and Zomba. It will make a big difference.

  25. thcdhhd says:

    more like: How do we misuse these funds without being noticed.

  26. IJABU says:

    i bani tafunani as usual

  27. Achimidzimidzi says:

    Nations Msowoya is true Malawian. Always telling lies.

    You must be one of the miserable person.

  28. Mathanyula Peter says:

    Koma choncho dziko lingatukuke???????

  29. Obvious Phiri says:

    So the government has money which it doesn’t know how to spend yet some civil servants aren’t getting paid.

    Interesting. Very interesting.

  30. Malawiano says:

    in simple logic, why didnt you sell only IndeBank so that the proceeds should have bailed MSB. Are you serious kuti mukusowa chochita ndi ndalama? Mukasowa nazo chochita timva kuti mwamanga mansion ku Singapore kapena Portugal chifukwa simuganiza kuti mungafe.

    Kodi anthu munaika chani pa mpando? Kapena nchani ichi chinadziika pa mpando usiku anthu tikugona?

  31. Sapitwa says:

    Zikhala ngati za ndege zomwe zija. Timva zoti agula chimanga pothandiza kuthetsa njala. Kkkkkkkkkk!

  32. mtumbuka1 says:

    Mr. msowoya don’t be a spin doctor for peter mutharika. There’s no way in hell so much money would just sit idle when dpp,mutharika and Goodall gondwe are there. You are doing a bullshit job by covering your president’s asshole!

  33. john says:

    Nation Msowoya wakhalisa pa post iyi can’t he be redeployed? Is this a lifetime job?kunama too much and he was in the forefront protecting sale of jet ameneyu.Tidye nawo wamkulu

  34. Zoonazake says:

    Mungomupaka Thom Mpinganjira ife tikudziwa kuti bank sadagule ndiye. Idzakwana nthawi mudzanena monga adanena Lutepo pa radio.

  35. becks says:

    Sheeeeee another cash gate in the offing. Don’t cheat people by now this money is finished already used .don’t trouble people please.

  36. angoni apaphata says:

    The reason is that this revenue is not taken into account in the budget. Thieves now trying to steal in broad daylight. Who is going to meet honestly? We sold a plane no-one knows where the money went now it is a bank. Poor malawi. It is not even worth a capital ‘m’.

  37. captain says:

    I feel sorry for nations nsowoya, ur job is tricky

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