Malawi okays street protests for MSB sale: It’s ‘red army’ demo

Authorities have approved that Malawians under the banner of ‘Concerned Citizens’ can go ahead to demonstrate this Friday and petition Speaker of Parliament in Lilongwe over the impending sale of state-owned Malawi Savings Bank (MSB).

Red army: Back in the streets on Friday

Red army: Back in the streets on Friday

Opposition lawmakers claimed in parliament that government wants to hand over the bank to FDH Bank, owned by Thom Mpinganjira, whom MCP MP Peter Dimba described as “Mutharika’s crony, tribesman, DPP campaign financier who sits on the public reforms commission.”

The ‘Concerned Citizens’ are also against government’s move to clear toxic loans totalling K6 billion owed to the bank by private sector players.

Billy Mayaya, one of the organisers, told Nyasa Times that they have informed police and Lilongwe District Commissioner to hold the peaceful protests.

Mayaya said they will express their “anger”  describing MSB sale deal as similar to Cashgate—the systematic plunder of billions of kwacha from Treasury.

The activist said the demonstrators would gather around Area 18 Roundabout and proceed to the Capital Hotel Roundabout and make a U-turn up to the National Assembly where a petition will be read out and handed over to the Speaker, Richard Msowoya.

“From there, we shall proceed to Capital Hill to the Ministry of Finance where we shall read out another petition, which will be handed over to the Secretary to the Treasury Ronald Mangani. Thereafter, demonstrators will peacefully disperse.”

He said those taking part can wear anything red.

Mayaya said the protestors will demand that those who defaulted must repay their loans, failing which “their assets must be seized.”

Major on the list of the toxic loans, which government has taken over, is the Mulli Brothers Limited (MBL) loan, which stands at K4 969 043 316.93.

Other defaulters included Varibo Spirits—owned by Duncan Kaonga—at K397 763 522.07, KJ Transways owned by a Mr Mkumba has a K172 536 106.23 loan that has not been serviced, Ganizani Transport owned by Charles Fungula owes the bank K97 908 785.35.

MSB is owed K83 960 954.29 by Maranatha Institute of Education of Ernest Kaonga, K71 220 602.47 from Consolidated Building Contractors owned by Peter Mhone, K69 776 370.81 from CK Construction of Chester Makuwira.

The bank is also failing to collect K68 034 537.28 from Fincoop, K65 910 536.30 from K’s Investments owned by Bintony Kutsaira, K30 717 180.76 from MGI Trading of Macpharen Mpeta Phiri, K27 179 448.51 of Injena Petroleum Limited, K20 722 510.70 of Angel Wings owned by Angel Chaponda Nazombe and K12 782 074.13 of Eranive Trading for Fanny Joshua.

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wacongress wewenne
Guest

Ndiye muziti Kamuzu anali dictator,marubbish ngati awa sibwwenzi aliko,.Malawi now needs such kind of aleade,tatopa nazo odya thukuta lathufe mweeee

cbk
Guest

let it be but cashiers are stupid molons who dont respect customers especially at msonkho house.there is a stupid G4S guard who dont respect customers.change him otherwise customers will hit him.just a warning.

Zidura Ntengo Undigwere
Guest
Zidura Ntengo Undigwere

Even though most Malawians would rather have the government handle the loan issues differently, they do not feel protests will achieve much in this issue.
CSO bosses have found what they call their calling, and will do anything that impresses their funders, overseas. And watch who will be demonstrating: it will mostly be MCP supporters, aganyu ndi malova (unemployed, temporarily hired for that job) just to bolster the numbers! And some disgruntled functionaries from PP, that sad sack party, soon to disband.
We will check the results of the demo, later in the day.

Gule Wamkulu
Guest

I am shocked with the lack of personal integrity by the people leading the demonstration against MSB sale. For starters, Billy Mayaya, Rev Sembereka and others stole money from HRCC. Currently, no donor is willing to fund HRCC before these guys masquerading as “saints” have repaid the loot. I suggest that Billy Mayaya should organise a demonstration against the looting at HRCC and demand that all looters should pay back the money now!

The Patriot
Guest

Business tycoon koma ma toxic loans ali tho! Ma contracts a boma onse mukutenga nokha komanso nkumalephera kubweza ma loan ku bank? Ntheradi ndithu muzamva kuwawa tsiku lina, ana a Mulungu sangakhake kulira chifukwa cha inuyo basi! Dyera lanu lidzakutsatani ndithu!!!

Wakalamba wafuna
Guest

Come on Malawi dont leave them

PA MALAWI
Guest

Government needs money and if u want to sell the bank without collecting from those who owed that money which means you are belongs to, and u eager to collect it besidely. Apeleke kaye ngongolezo aboma mwatani kodi?

max1981
Guest

inenso bola ngongole yanga asiye kundidula more over yanga ndiyochepa

Kulibe kantu
Guest

Demonstrations are part of human rights. Plz dont write that “authorities have approved people to march”. They were only informed. They can’t stop it. If journalists these simple issues then we have problems

Afana
Guest

Problm after problm shame..

wpDiscuz

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