Malawi Savings Bank sale ‘blocked by injunction’

High Court has granted a temporary restraining order stopping the controversial sale of Malawi Savings Bank (MSB).

CEO for MSB Ian Bonongwe: Third respondent

CEO for MSB Ian Bonongwe: Third respondent

Ministry of Finance, Economic Planning and Development, through the Public Private Partnership Commission (PPPC), is set to conclude sale of between 51 and 75 percent shareholding in the bank, following failure to recapitalise it and adhere to regulations requirements by Reserve Bank of Malawi (RBM).

PPPC announced the designation of FDH Financial Holdings Limited, the parent company of FDH Bank, as the preferred bidder to invest in MSB and is offering K4.9 billion to buy 75 percent stake.

But MSB employees rushed to court  to prevent the transaction being completed.

High court judge Healey Potani granted the injunction on Thursday in the commercial city of Malawi, Blantyre through lawyer Michael Goba Chipeta.

Chipeta confirmed to Nyasa Times that indeed he is handling the case under the cause number 39 of 2015.

The lawyer said MSB workers want the court to interpret if the sale of the bank is in line with Public finance management act and Public Partnership Act (PPA).

He said the members of staff are worried that should the sale of the bank be illegal it will affect the contracts of the workers.

Chipeta said Minister of Finance is the first respondent, Public Private Partnership is the second respondent while Malawi Savings Bank is the third respondent.

Critics have argued that  proposed K4.49 billion price offered as an “epic swindle” and PPPC chief executive officer, Jimmy Lipunga, said the value of MSB needs to be revised and that will negotiate with the preferred bidder.

A legal opinion by renowned lawyer, Kamudoni Nyasulu, sought by the Budget and Finance Committee of Parliament, argues that the divestiture of MSB without parliamentary approval cannot go beyond 49 percent.

Nyasulu, who is managing consultant at KamudoniNyasulu, Law Consultants, opined that as a statutory body, MSB was “commercialised” and is therefore a “company” as defined by Section 2 of the Companies Act and or “State-owned enterprise” as defined by Section 2 of the Public Private Partnership Act.

“MSB is, therefore, subject to Public Finance Management Act, Public Audit Act and Public Procurement Act, which are subject to parliamentary oversight. Public property shall be disposed of by an Act of Parliament,” he said.

“The Executive cannot make law, but changing MSB from a statutory body to a private company without government controlling share, the Executive will be making law. Divestiture of such a body without parliamentary approval cannot go beyond 49 percent share. How much space was given to the consultation on public interest in this divesture?” queried Nyasulu.

Nyasulu’s legal opinion said courts can declare invalid, not just laws, but also decisions of the Executive that are inconsistent with the Constitution or any law.

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76 thoughts on “Malawi Savings Bank sale ‘blocked by injunction’”

  1. Vin mongu says:

    i see drama unfolding which has put peabrain goodall in a fix, nanunsotu a goodall you will be cardiac arrested za zii ngati izi. lets see how they will behave with contempt of court issues if they sale the bank. ukalembenso kawiri grafitti yako ku cell. kukula mtima, iwe ungamamvere wapona kita? bonongwe send sheriffs anthu athamange patawuni mulli amete ndevu basi. MSB staff leak people and amounts owed.

  2. kholowa mkabudula says:

    Osangogulitsa ma share kwa amalawi eni dzikolino bwanji? Anthufe ndife opusadi eti? Kugulitsa china chilichonse kwa atsamunda basi?

  3. connery banda says:

    Let the parliament’s decision respected. The 4 billion can be obtained from the selling of ivory that is planned to be burnt by the government. After the bank deal what will be the next target? Dzikoli saligulitsa koma? Food for thought for all patriotic citizens

  4. chamz says:

    I don’t think it’s logical to smear mud at Thom and FDH. That man is a hard worker and he deserves what he has. the problem is the executive which wants to sell MSB in a
    rush even when MPs and the majority of Malawians are against the idea. there is something sinister with the government. FDH is just a buyer.

  5. Zikomankhani says:

    MSB will eventually be sold to FDH; but this will not be the end of the matter. When a new government comes in 2019 or 2024 this issue will be revived. Biilionnaires who thought they could easily get their grubby fingers on a national asset will spend some time in jail. We must never forget how long it took before Sam Mpasu faced justice for Fieldyork…

    DPP gurus did not learn any lessons from the two years they were out of power…power can be snuffed out in an instant.

  6. Banda says:

    If some of you guys think K4.9 billion is thieving, why didn’t you make a counter offer? It was a public sale and there was a reserved price and the buyers fulfilled all the requirements. And you are busy blabbing, change the law first.

    1. special advisor says:

      Shut up, Banda. Why does anyone want to sell MSB? Where is air Malawi, where is the her, where is stagecoach, where is MDC, where is b & c, where is viply… Let’s us be patriotic and use economics to better our society not just a few selfish selves. Tell me what we will benefit by selling MSB. If MSB has debts and liquidity problems it’s because a wrong man is at the driving wheel and unserviceable loans guaranteed by government or otherwise owed by powerful people in government or with strong political connections. This bank must not be sold. At least not now, not to the current bidder, not at the suggested price, not circumventing parliament, the voice of the people. And if the people’s representatives become apart of the conspiracy, we, the people, will rise up and defend it with what we have.

  7. DMSF says:

    The problem with Thom kuba anayamba kale with Zimbabwe saga and this man is also governor of RBM so that he controls even the president and leaving Malawians in totally poor and only the Thoms thinks are intelligent in the country
    but time will come for FDH to vomit and not using the normal usual outlet.rather the other way round.

  8. Makiu says:

    Do you know that top management bought a fleet of top of the range motor vehicles like fortuner etc and sold them among themselves at MK1m each. Those poshy cars you see at MSB head office were sold to senior staff at MK1million each and they obtained injunctions to continue asset striping.

  9. Wagona nkhule waliwa says:

    Comment: DR WHITE, u are a lier. ln ur comment u say the civil service managers at MSB can not steer the bank into success? ls it the so-called MSB managers who got the debt of 5 billion from the bank ? ls not the Muli and others?

    This bank should not be sold at all cost. lt is a statutory body and not a private company.

  10. Dr White says:

    Let the bank be sold, period! Malawians by nature are jealous of seeing a black man prospering. If it had been us whites buying you would be clapping hands. The sale of this bank was advertised, why didn’t you or the said employees buy it? It will not be the first bank to be sold. Commercial Bank was sold and is now a prosperous Standard Bank. The lazy civil service-like managers at MSB cannot steer that bank to success. They have failed. FDH, Ecobank and FMB are growing fast because of visionary leadership. By the way INDEbank is also being sold why aren’t people complaining?

    1. Juddaist says:

      The bone of contention is not to sale or not to sale. I for one am of the view that MSB should actually be sold. However, the offering price of the bank is what is raising a lot of eyebrows. If you look clearly, you will note that government is acting in some haste to meet some RBM deadline when this date was known way back. The interests of everyone concerned should be considered; employees of MBS inclusive.

  11. mashabera says:

    i think these are greedy politicians who used the bank for their own personal benefits. Still these people are there and mind they don’t just come but they are born and they campaign and we vote for them only to realise letter that they are evil. No one can control this, do you see them going to standard bank to use it? or did anyone of us saw them at first merchant bank, this is becouse these bank are private owned therefore their greedy can’t cross the boundary.
    So if msb is privatized, do you foresee any politician interfere the bank?
    Where is FDH bank taking MSB, i thought this will help malawi and save its face from these you call greeds?

    I stand open to the shaft of correction, school me please

  12. Mkandawiredoctor says:

    I think bambo J Banda UMBULI WAWATHYOLA KWAMBIRI for he too doesn’t know what he writes.Go to School Please and I can as well be a good Lecture on this matter. What FDH did with Zimbabwe is almost similar pattern how FDH wants to take MSB free. JB mark my words today.Allow FDH 25% ONLY IF THIS OFFER BY BY FDH IS BASED ON GOOD FAITH. lipunga is nothing Ali Mchiyani fisi wakanthu kanthu just being USED fOR WE KNOW IT.

  13. Kanyimbi says:

    Igulitsidwe andale akubawa asowe pogwira.Muli, Lutepo ndi anthu ena anatenga zindalama zambiri sakubweza mpaka pano, enawa ndi aja anapita mpaka ku court kufuna kuibera bankyi.Wina 3billion,wina 2billon,boma ligulitse ndithu.Amene mukukakamira inu mukufuna mukazalowa m’boma muzaiberenso bankyi mabilion.

  14. Byhfsis Mhango says:

    FDH Chief Executive, Jimmy Lupunga and Chuka are thieves. Malawians have been taken for granted now and this really requires the High Court to come into this matter otherwise this is totally a lie since the three are doing under the instructions from the above. Potani read in depth and save Malawians from these thieves.KUPEMPHERA KWA BOZA A LIPUNGA NDI THOM KUNAMIZA ANTHU. A Chuka mtl failed it again and now you think RBM angaithe KUBAKOKHAKOKHA.

  15. Hello guys, kodi munthawi yoyesa ngati yimeneyi, ma NGOs akumakhala akutani? Za amuna okha okha, kalikiliki ku msewu, but big issues such as cashgate, 92 billion audit querry, sale of bank or national assets, 62 billion cumulative assets from a mere 150million. These are also real advocacy issues than nkhani ya mathanyula guys! NGOs, Civil Society, where are you and what is your role that you are going to play? Akapilikoni!

  16. WOnge says:

    The BAnk can not recapitalise, FDH is trying to save it from total melt down tell us if MSB is not privatised how will you raise this Sinking ship?

  17. WOnge says:

    The BAnk can not recapitalise FDH is trying to save it from total melt down tell us if MSB is not privatised where how will you raise this Sinking ship?

  18. Yankees says:

    Zikatelo Bank siigulitsidwa, ndidaonela pamavoti, Court Injuction, ehh ndi Jackson amatenga nthawi kuti apange Expire….

  19. Kamkhwezule Kakang'ono says:

    I think the best course of action is to have our parliament debate and seek constructive opinions of experts as they have done and then make a ruling based on majority. MSB is a public company whose disposal requires public finance management provisions.

  20. mabvuto says:

    Chiefs are becoming everything even if it doesn’t concern them. Some are even failing to handle disputes and tradetional tangles in their teritories but you them busy commenting on govt policies some of which they do not have knowledge

  21. John says:

    A Malawi,please wake up.This sale arrangement is a cover up. I repeat,who are the debtors?Can the list be disclosed.Do not hide the vital information here. Uwu ndi umbava weni weni pa Malawi opanda nawo manyazi.Ndale pa Malawi ndi za anthu ongofuna kusolola bass pomwe anthu osauka Ali kubvutika basi.

  22. John says:

    Tell me.Who are the debtors of MSB Bank? Are they not the DPP gurus? We need to see the list,first,otherwise this is a cover up!

  23. Nyamkaka says:

    Mhango, you do not even know that Basel II is voluntary. It is not binding. You do not even know what they are. You follow blindly>

  24. charlie hebdo says:

    Charlie Hebdo cant stop laughing. Laughing at how Malawian assets are being mismanaged.Charlie wont help you to think, but consider the following: K4.9bn sale value against real value of more than K40bn I.e bank will be sold for 10% of its value…how about the staff? I mean terminal benefits?… how about the bad loans? Cant they be recovered? Where is Parliament on this? Oh no…

  25. Frank Mwenifumbo says:

    I don’t see anything wrong with the acquisition of this Bank by FDH which wholly owned by a consortium of malawian entrepreneurs . FDH bank is the shining example alongside with Zodiak broadcasting corporation of the benefits of empowering local malawians
    FDH has the potential to bring about sanity in the banking industry by offering competitive products . Best but Malawi should be our Motto if Malawi has to register any meaningful growth in all sectors of our economy . Bravo FDH Bank .

  26. Mike siliya says:

    Comment. If msb sold then post office must follow to private sectors, ndalamula

  27. Clayton’s rule to be observed!

  28. Kenkkk says:

    If the govt can come clean and explain to the people of malawi how toxic assets or loans issued by msb to such corrupt Entities like mulli will be repaid by mulli, then there wouldn’t be much opposition to the sale of msb at the rightful Price which is not the misery 4.7bn offered by fdh. The problem is that the govt is hiding, being very economic with the truth surrounding the proposed sale, it is not giving the taxpayers any assurance as how bad debtors such Mulli will repay us. The sAme Mulli who want to float in the London stock exchange but failing to pay msb loaned money. This is a joke, rubbing salt in our wounds!!!

    The other thing as we understand is the fact msb handled alot of cashgAte money going back to Bingu dpp era with the 92 bn being heavily involved. So there is alot of cashgate evidence records still with msb and we Also know that the 92bn is currently being investigated. Is the DPP proposed sale of msb prompted by the urgent need to destroy cashgate evidence implicating DPP? Is this really the motive for the sale?

    Mulli is heavily involved with DPP, so why is the govt so quiet on mulli debts which have single handedly destroyed msb?

  29. Sangwani Mkandawire says:

    those employees they having much money en they benefit 4rm it than the Government,akudziwa kt mgodi ukutha.muwasiye mwedzi inayi osawapasa malipiro muwaona akachosa okha chiletsocho.wanchito akamakana kupita ku holday ndie kt akubapo pa companypo

  30. Asset Declaration says:

    Our courts favour govt and crooked politicians at the expense of innocent malawians! But why?

    Mulli’s loan was and still is secured by valuable property. The bank wanted to sell the property to recover the loan as expected. Mulli obtained an injunction and up to now the injunction still stands! What kind of an injunction remains valid for years? I want to see how long the employees’ injunction will last. The people of malawi, owners of the bank should stand up and ask the courts why mulli’s injunction restraining the bank from selling his property has remained valid for years. What’s so special with this mulli guy that he should hold the whole country at ransom and create this useless debate. Many people have lost their property to banks for deafault and when you are borrowing, you know that the pledged property will be sold upon default. MSB has sold a lot of property belonging to defaulters…….why not mulli? Chifukwa ikoka nka mlomwe? Shupit zanu a dpp….demet!

  31. DPP Guru says:

    MY LAST WARNING TO THOM MPINGANJIRA AND MARK MY WORDS AND REMEMBER ME ZITAVUTA PATSOGOLO. LEAVE POLITICAL BUSINESSES WHEN A LOT OF PEOPLE DISLIKE. When government changes to MCP in 2019 which oa more likely mudzaphwanyitsa FDH. Do not think amalawi sakudziwa kuti ma bid ena munang’amba kuti yanu yokha ikhalepo idutse. Dont think amalawi sakudziwa kuti Ben Phiri ndimzanu and Ben Phiri is the Prime Minister of Malawi. Mudzaphedwa za zii bwana. Ine ndakuuzani and remember me mukachita makani.

  32. Palibe boma losaba koma zomaba tikuonazi izi zimapweteka kodi ndekuti aMalawi ndife ogona olo you want us to take laws in our hand tiyeni azitsogoleri tiphunzire kukonda dziko lanthu osati kudzikonda tokha ndalama za nsokho ndi za amalawi bankiyinso ndi ya amalawi bwanji osatapako pang’ono za nsonkhozo to bail out the Asset lyk this plz

  33. nanzikambe says:

    U will end up selling people.

  34. Chimango Mhango says:

    Go ahead sale the bank,dont wait for the oponion of chiefs,they dont hav a technical know how of the issue.Do the chiefs know basel II requirements???,pliz liv them alone.

  35. kela mwampita says:

    Micheal goba chipeta ndi mwana wa sc. He was @ ralph and arnolds now he has started his as a front for sc s interests

  36. Gift says:

    Let’s promote transparency

  37. KARU UNITED says:

    Let government run districts and surrender banks into private hands,that’s progress.People, change is inevitable,let government do it’s job.Our leaders know what’s good for the NATION Let’s not politicise everything.

  38. Nsendekere says:

    What is better, to sell the bank or let it go bankrupt because a burden of bad loans? Do we think an injuction will be able to save the bank from imminent collapse under the burden of too many bad loans?

  39. pontesi says:

    paja mumatelo mukafuna kumwalira

  40. JOVANOVICH SCOTT says:

    The bank should not be sold.

  41. ujeni says:

    DPP has started the journey of stealing and accumulation of stolen wealth, we are at K62bn or K92bn by the end of this year it will reach K 100bn by 2019 your guess is good as mine. While ordinary Malawians will continue to suffer and starve to death. DPP woyee

  42. chinkombaleza gumanyundo gowa says:

    I support Nyansulu and the law on this. Go deeper to Educate the masses

  43. Joseph Banda says:

    A Malawi we should learn to understand issues generally and the issue of MSB in particular. The court granting temporary stop of the sale has nothing with rhetoric thinking of Kamudoni Nyasalu. Probably he does not know what he is talking about. The Parliament handed over its oversight role when it discussed the conversion from the state owned to a limited liability company. The fact that govt owns 100% shares in MSB does not take away the requirements of company law. Parliament has no role on this issue.

    Coming to the injunction, the article says Employees went to court to stop MSB from being sold. True? Where in the world would employees stop the decision of the Board implementing what they consider to be a legitimate decision for the benefit of the company that has a limited status. This will not hold.

    Probably the employees should have made a counter offer as a management buy out. If this was rejected outright, maybe they would have won. But employees arguments of job guarantee is not a reason to postpone a well intended decision. Probably, they will have just to pray that they get picked when the knew investor comes. Unfortunately all of us have to take risks. This is one of them. LET US LEARN TO LIVE WITH THE TURTH

  44. Kandakhute chinyetenyete says:

    Dont hate the buyer,THOM can change msb to be a better bank.Go to fdh bank ,kuli atumbuka ambiri,a chewa ambirinso koma alomwe ochepa.Mind you fdh ndi company yokhayo siona mitundu polembam anthu ntchito.Koma go to msb inazaza ndi alomwe okhaokha.Gulisani

  45. zagwazatha says:

    Msb has state of art atm machines not owned by any other bank in Malawi. Deposit taking machines. Msb haswidest network in MalawI. Msb has one of the best banking packages. If msb was floated on stock exchange would get best value. If govt want to get rid of this malawian asset then try ipo. Every body will be participate and all so preferred bidders will.

  46. Njirazasintha says:

    As seasoned accountants who started their accounting careers as young men at Deloitte in the 1980’s both Thom and Jimmy know that MWK4.9bn is nowhere near the valuation of 75% ownership of this important national asset. Why are they allowing themselves to be used by politicians who want to steal a national asset from Malawians? Of all the investors in Malawi, why is only one investor interested and is then offering peanuts? Why is the government not interested in recovering the ‘secured’ MWK7bn worth of toxic assets – MWK4.6bn (66%) of which is owed by Mulli Brothers alone? Recovery of this MWK7bn would significantly improve MSB’s liquidity (and capital position by reducing bad loan provisions).

    MSB employees, MCP as the main opposition and CSO’s should vehemently block this sale, before it goes through. DPP gurus always do things in a hurry; I have no doubt that they must have overlooked many things in their speed to ‘write off’ toxic loans of their oligarchs. These omissions should be used to tie up the sale in the courts for as long as possible. No stone should be left unturned. DPP should not think that it so easy to strip a national asset…

  47. Antchona says:

    It might be a good idea to sell the bank as it has become unprofitable. what do you do with a white elephant? That’s the most economic and sustainable decision though unpopular.

  48. Chendele says:

    lets open ours eye and see this day light robbery by moyas. something is fishy here. way forward they will not help MSB and create a crisis at MSB to force a sale.no matter what hinderances, this bank will go. unless someone with right vision and patriot at ministry of finance comes with a crisis management that will soon be created by these robbers.

    the problems of this were created by polititians,muli and friends.muli owes the bank MK3 billion plus those owed by his friends. it will certainily go beyond the MK5billion proposed investment.so what need to be done here is to sell all the assets of mull to realise the MK3billion and those of his friends. the bank will be alright. no bank in malawi at the moment of facing financial difficuties why only MSB. man made problems

    xxxxxmmm malawi we will not develop fokofu

  49. akatswiri says:

    This dpp government is fond of selling companies which belong to government why?you answer one day just wait.

  50. John Muchizi says:

    The biggest problem in this country is that we practically worship the president. The president can do anything including sleeping with another person’s wife under the cover of “presidential immunity”. How would a sane administration accept 4.9 bn for an asset valued at 46 bn. I doubt the capacity of Lipungu to negotiate. Lipunga has always given away our resources [state assets] at low pitiable values. He sold David Whitehead for only 79 million and what about MTL. As a country can we count the benefits from such sales. This bank is viable venture the only problem is politics. Look at the way the CEO was hired. He was just handpicked and put there without opening up to all of us. The rest of employees are handpicked on nepotism and tribalism basis and we expects the bank to be viable. Where has it happened that dull people bring success and government expects MSB to be an exception. It’s garbage in garbage out scenario. Engaged high flying performers MSB will become profitable in just a short period. The problem of MSB is the quality of staff characterized by mediocrity. Hire competent staff this bank will benefit all of us. The more we focus on our tribes, regions, and cousins the more Malawi stands to lose. All this cashgate is a product of mediocrity. We have too many dunderheads as bwanas in government institutions. How can people siphon 92 bn and 14 bn without anybody noticing. It’s not possible only possible if the institutions are run by dull managers. Do we in Malawi think creation erred in creating the intelligent for the progress of society and we want to change that order by putting dull people in positions of influence for progress of society. Takanikatu Malawi is the only country in SADC and COMESA that is refusing to develop. And we are surprised. We wrong people in right positions. Cry for my beloved country.

  51. Wailing Soul says:

    Very good article Alfred Chauwa. You have weaved so well for us news audiences to understand in simple terms what is actually going on with regards to MSB. Keep it up.

  52. ntchewe says:

    Koma malawi you mean the GVT is un able to bring new strategies to help this BANK?…And why do you want to sell it to FHD which is ..may be malawian owned?…..KAMUZU …HE WAS AMAN…..Whether you like it or not..How can individuals have more money than the GVT….ANTHU ALI NDI MA billion muma account koma boma kukanika to HELP THIS bank…..

    We are waiting for aday when malawi shall have a LEADER…..wosango gulitsa dzikoli bwanji?..kuti mukhale ndi chuma chambili..

  53. OMEGA BEMA says:

    This is what happens when govt is not lessening to pple

  54. HENGA MAN (Ma Fumu) says:

    Comment
    yaah gulitsani mawa tizava kuti mukugulitsa Dziko lanthu la Malawi lino; kukonda ndalama kwambiri kufuna kuba basi….kunamizira mu dzina la anthu osauka ndrama mukuyika mumatumba anu; …Tionana 2019 sipatali!!!

  55. Achikachinja says:

    once this bank is sold, what will happen to those who owe the bank like mulli?

  56. tuvitwana says:

    ALOMWE MPINGANJIRA WA FDH, APM N GOODAL SON OF A STOOGE GO TO HELL.

  57. yosefe Bola says:

    Nobody can stop govt. Govt decision is final. For example Whitex employees made Injunction in 2003 but Judge Potani lifted it. Now visit Mapeto DWs it is a warehouse of tyres. Govt is interested with cashgates. I can see that MSB losing this case. Jimmy Lipunga and Goodall Gongwe are chief players in this game. In Mapeto DWS they were the same people with assistance with Standard Bank

  58. chejali says:

    Nkhaniyi yandikwana bwanji.

  59. MAMINA says:

    Pitala uzagwa ngati mnzako jonathan ndithuu !!

    SUKUTHANDIZA MTUNDU WA A MALAWI

  60. DPP Guru says:

    If i were Thom Mpinganjira i would not buy something that has public objections because pakakhala strike ndi zija amaswa ma bank ako. Case of Mulli Brothers and PTC. Pakakhala phokoso people think PTC ndiyaboma ndiye kumakhala kuphwanyatu. Muphwanyintsa FDH yabwinobwino. Za phokoso la ndale anzanu ozindikila sagula bwana. Unfortunately am not Mpinganjira

  61. wamandasi says:

    Ask 13 milion citizens to be shareholders. This will make the bank the favourite for local people. First offer all civil servants shares from their pension money. This will encourage local investments before giving it away. Allow as little as K40,000 contribution

  62. Alfred Munduwabo says:

    The sale of this MSB is one way of hiding the 92 billion transactions done by DPP under Bingu through Mwananveka by swideling 100% government own shares. They are in a hurry to destroy the information by using a Lhomwe owned FDH bank. All this is a fake deal.

  63. Mulli took a loan from MSB amounting 3billion and never paid and Mpinganjira wants to buy it at 4.7billion. What a joke. Musova

  64. BigMan says:

    Typical Malawian ignorance, confusion, and general laziness to bother to do anything properly. Its a cancer!

  65. I hope our courts will be able to weigh public opinion and put it into consideration coz its not act that shapes the law, it is the opinion of the people. Forfiture act was changed coz the opinion of the majority felt that it was a bad law. Parliament can amend and or repeal any such laws thats where parliament comes in and for someone to say that the house is not an interested party or that it does have authority over this issue is ignorance of the highest order and worse whe such comes from a lawyer. Kamdoni has shown that democratic lawyers are just in name and not in substance no wonder some of these are involved in cashgate. They are not there to protect the public purse but to profit illigally.

  66. Nyapapi says:

    This is daylight robbery, MSB operates even in areas where it doesn’t necessarily aim for profits but serve fellow Malawians if u let it be swallowed by this FDH an institution that doesn’t open Saturdays, whose services are only good for well to do customer then what is there for the poor in the rural. Is government putting welfare of the poor fellow citizens at hand when considering the sale, if yes why not listing it on the stock exchange other than selling

  67. Truth says:

    Unfortunately this injunction has been obtained on the wrong premise and the employees will be taken by surprise. The recapitalisation is proceeding as planned and the so called workers are those lazy people and excess employees who fear for their jobs. if this goes on the next option is to close shop as government is restrained from business ventures if we go by the same finance act.

  68. Comment: uchitsiru basi. he has stolen enough.

  69. Ian Bonongwe says:

    This is daylight robbery, MSB operates even in areas where it doesn’t necessarily aim for profits but serve fellow malawians

  70. Kanjuchi says:

    We are taken as dogs
    Khale-khale agulitsa ngati ndikuyamba uku

  71. Phillip mponela says:

    Please dont sale the bank because the money realised from the sale just like the sale of the jet,it wont benefit the public

  72. akulu says:

    Maplan alepheleka okuba bank alhomwe inu .mxiio

  73. happening boy says:

    This Is what was expected, This Is govt takes all malawians as fools, tiyeni nazoni, the court said no to first injunction, saying they had no interest, what about This one. Kamudoni has enlighted You fools but You stick to your uselessness. Av mdala Goodal mufera zaeni, why dont You tell thèse ideots the truth.

  74. WIZA says:

    Please people in the know how do not let us be swindled by desposing msb. the previous goverment sold chipiku on the same pretence and the malawians lost a very important asset

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