Malawi Savings Bank (MSB) has suspended its former chief executive officer (CEO) Ian Bonongwe and three of its senior managers, ordering them not to visit any of the bank’s premises.
Bonongwe: Suspended
MSB staff told about the managers suspension
According to a letter dated November 10 2015 signed by MSB head of human resources Richard Kunjawa, the bank, which until July this year was wholly owned by government, the bank has suspended Bonongwe alongside financial controller James Salaka, head of credit George Sibale and senior treasury and international trade manager Million Hera e.ffective November 6, 2015.
The reasons behind the indefinate suspension have not been communicated but sources indicate it is to do with “mismanagement of loans.”
Salaka, Sibale and Hera—were already on forced leave.
But Kunjawa said should there be any request for information from the suspended managers,” such request should be directed to acting CEO [Ted Chanza].”
Bonongwe was removed from his position as the bank’s CEO to become a member of the Integration Management Office—the team set to oversee the amalgamation of FDH Bank and MSB after the sale of the 75 percent government shares to FDH Financial Holdings Limited in July this year in a controversial and protracted transaction.
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akingster Bella mukuti chani kodi kkkkkkkkkkkkkkkkkkkk it is better to close your mouth and be thought a fool than to open it and remove all doubt. Nde mwachita inu kkkkkkkkkkkkkkk
I would rather watch first before commenting. The real story may not be as presented here
Chosamva anachiphikira limodzi ndi masamba, onena analiko koma kusamva! Lero ndi izoooo! Tiye nazoni bola mukafike 2019
Mbava MBAVA.
If seniors are packing, who are you that you can not go? Mind you, MSB is now profit driven.
I can foresee unemployment rising pa malawi
Tinaku uzani ife