Malawi to sell controlling stakes in Indebank, MSB
Malawi is selling portions of two commercial banks to re-capitalise in a move meant to turn around the struggling banks, the government’s divestiture agency said on Monday.
The Public Private Partnerships Commission (PPPC) requested strategic investors to buy a controlling stake in state-owned Malawi Savings Bank (MSB) and Indebank Malawi Ltd., in which the government owns nearly 70 percent of its shares.
PPPC did not disclose the sizes of the stakes that are up for sale or how much it was selling them for.
“The decision to recapitalise the two institutions has been motivated by the desire to strengthen their financial and operational capabilities in a competitive environment,” the agency said in a statement.
Jimmy Lipunga, chief executive officer of the PPPC, said the entry of a strategic equity partner is likely to promote innovation and growth in market share.
The announcement comes after The Nation newspaper reported that the central bank or Reserve Bank of Malawi had said the MSB is weighed down by bad loans.
The report also said MSB requires a $48.3 million (MWK 23.7 billion) in capital and liquidity by June to satisfy Basel II financial and regulatory requirements or risk being struck off by Reserve Bank of Malawi.–Reuters
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LATE ON YOU , YOU WILL SALE LAKE MALAWI. LAKE MALOMBE, LAKE CHIRWA, LAKE CHIUTA, LAKE KAZUNI,THERE AFTER LAGONS AND RIVERS.
SORRY MALAWI.
Mugulitseso Ma galimoto apa convoy yanu bwana
FOR THE SAKE OF TRANSPARENCY PLS PUBLISH LIST OF BAD DEBTS AND RESPECTIVE AMOUNTS AND REASONS WHY THEY ARE BAD FOR MALAWIANS TO HAVE CLEAR PICTURE.A STRUGLING BANK IS USUALLY MANAGED BY QUESTIONABLE MANAGERS.LHM
Jimmy Lipunga at it again….now banks after havoking the transport sector.where is the money bwana..zathu zisanukapena sbwana anu a godwall or apm…
Kaya inu. No leadership skills. Tifa ndithu, chaka chake ndi chino. This is just the beginning.
palibe nkhani apa,ngati mukuwafuna ma share wo osamakangogula bwanji?
zitini zopanda kanthu kulongolola.
MULLI yo ngati atawafuna akakhala nazo Ndalama akagula.Makani opanda nawo ntchito amenewa.Boma kuli konse limagulitsa ma SHARE ngati lapanikizika,kapena silikuonamo phindu. palibe zoikapo ndale apppaaa…ine ndi wa MCP, komanso ndidalipo pamene Bakili ankagulitsa osati chifukwa chopanikizika,koma kuti watsala pang’ono kupuma.Ma share omwe tinkawaona ngati athu(aboma) anali ake ankaopa kuti akawasiya boma lingadzamulande mosabvuta…..
Nde mukutipo chiani apppaaaaa!!!
Mungogulitsa nduna zonse za boma zikutionongera ma tax athu.
How many institutions or people are owing MSB? What proportion is owed by each debtor? What will happen about the bad debt?
asapitetu kwa MULLI ma shares onse!
Tumbukas at lands and lilongwe city are selling plots to foreigners in LiLongwe. Government is selling banks. Someone sold children to Mozambique last week. Next lets sale Muthalika and his wife.