Malawi Savings Bank suspends Bonongwe, 3 managers

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

Bonongwe: Suspended

MSB staff told about the managers suspension

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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10 thoughts on “Malawi Savings Bank suspends Bonongwe, 3 managers”

  1. Kingster Bella says:

    @Moyawankazi: It was just a slight eye opener & simple advice. Sorry if the strike was velocious. However, it pays to listen. Nothing is personal here. As much as I know some of the guys (Managers) under suspension, it would take an AK47 for them to kill a fly. Meaning guys like James Salaka whom I know from childhood, let alone as classmate, I would be baffled if implicated in wrong doings..
    So to speak, will I be deterred from looking at things with an eye of precision or correctness? Not at all. The world works differently from mum’s angle of captivation. If the managers are not allowed to visit the premises or any branch, it’s nothing to do with the rule of the jungle. Just procedural as previously stated..For some information, in the WEST, especially North America, managers get fired outright without any letter of notice & are given about 15 minutes to arrange for their exit in the presence of the firing officer, then escorted through the hallway to the xit. All other information comes later..
    The dust will settle for some & will get employed soon..

  2. moyawankazi says:

    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

  3. Kingster Bella says:

    @Pompido, ‘thou shall not exposed thy ignorance on public domain”..sometimes it profits shutting your mouth up especially if your understanding is limited to nothing.
    Don’t be too ignorant, in civilised world, firing (suspension) on managerial levels, employees are not allowed to remain in or visit the premises until the process of their suspension is complete..In today’s age of technology, especially banking system, everything is interconnected & it’s easy for disgruntled employees to pull a trigger on vulnerable classified information or company files hanging around online..
    Obviously, the bank understands, it would be easy for fired/suspended managers to get access to information through any branch..
    In another scenario, if an employee dealing with clients of a company is relieved of his duties he is not allowed to deal with ex-clients on his capacity or on behalf of a different company for a period of time, common one is three year period. Since soliciting is prohibited, you may be charged in that line..
    Please, when commenting on professional issues, do a little research before posting for public consumption.. (free advice: Wakutsina khutu ndi mnasi)

  4. Hansou says:

    I would rather watch first before commenting. The real story may not be as presented here

  5. Ojambula says:

    Chosamva anachiphikira limodzi ndi masamba, onena analiko koma kusamva! Lero ndi izoooo! Tiye nazoni bola mukafike 2019

  6. ziliko says:

    The Government thought they were being clever by selling this bank and not listening to opposition. And Mpinganjira did not make a proper analysis now he’s panicking. He thought it would be easy running the bank. So he’s realised it’s not. What he’s doing now is like asking a woman who already has a child why she had the child with that man. Iwe unaliko? Wamupeza mkazi Ali kale ndi mwana. Watha ma plan he’s now dwelling on the past. The problem with him is he takes people as his property. The relationship with Madinga is sour because he attended interviews. By the way where’s the capital you were supposed to inject into the Bank. DPP tulo. Na ngati simutenganso boma 2019 this is one of the things that will take you to the grave.

  7. pompido says:

    The suspended senior managers have been told not to visit any MSB premises in Malawi. Really? All this because of the suspension? What if the senior managers have a bank accounts with MSB? Do you mean they can not go at the ATM to withdraw their money or go into the banking hall to make personal transactions? What Mpinganjira has done is a gross violation of the senior managers’ rights, this behavior should not be condoned and should immediately be challenged by the lawyers or human rights activists. No Malawian should be barred from visiting any part or premise in this country. Mpinganjira is not a court of law to be issuing restrictions on innocent and free citizens of the country.

  8. Eugene says:

    Mbava MBAVA.

  9. Achimidzimidzi says:

    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

  10. wakukaya uyo says:

    Tinaku uzani ife

Comments are closed.