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.

Lipunga: Seeks bids

Lipunga: Seeks bids

INDE

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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23 thoughts on “Malawi to sell controlling stakes in Indebank, MSB”

  1. LATE ON YOU , YOU WILL SALE LAKE MALAWI. LAKE MALOMBE, LAKE CHIRWA, LAKE CHIUTA, LAKE KAZUNI,THERE AFTER LAGONS AND RIVERS.

    SORRY MALAWI.

  2. mona says:

    Mugulitseso Ma galimoto apa convoy yanu bwana

  3. KING SOLOMONS PALACE says:

    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

  4. Fathi Alshdhaab says:

    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…

  5. nthandalanda says:

    Kaya inu. No leadership skills. Tifa ndithu, chaka chake ndi chino. This is just the beginning.

  6. jupiter says:

    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!!!

  7. Limbani hammy mtanga says:

    Mungogulitsa nduna zonse za boma zikutionongera ma tax athu.

  8. Tengupenya says:

    How many institutions or people are owing MSB? What proportion is owed by each debtor? What will happen about the bad debt?

  9. The Patriot says:

    asapitetu kwa MULLI ma shares onse!

  10. Ngolopiyo says:

    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.

  11. True that, becouse, our God has been disappointed by the arrogance of most Malawians. Hence, our Heavenly Father, will do everything possible, to let Malawians know, that, there is God in Heaven. Therefore, we are actually being warned, so that, we MUST, change our ways. To my surprise, we dont want to neither repent nor change. S48 . 3 million, is alot of money, i am wondering, where will they get, borrow, or have to replace the said fugure. Hence, to avery normal Malawian, he or she must actually, know that, if by the said month of June, as indicated above, the above mentioned figure has not been actually been recovered, then, am afraid, Msb will be closed, or sold out, to the capable people. Amen

    1. Wodala says:

      Apostle sizikumveka zimene mukunena.

  12. malawiana says:

    We need a thorough audit of these so called bad loans. This could be a strategy to write off the politically motivated loans like those given to Mulli by MSB.

  13. mgeluwa says:

    just sell the first couple they are useless pipo

  14. Kikikiki says:

    Kleptomaniacs, sell Ndata farm as well because it’s not making any business returns from our money late big Kahuna borrowed. Time wasters.

  15. Goliati says:

    Akhala pang’ono kugulitsa malawi ,DPP has no grace to leadership, munaba ndalama zambiri, osafuna kuthandiza anthu osauka, mulungu alanga basi, muzifa ndi ma BP, Kaliati nkhani ya nyika- vwaza iri kuti? Atcheya kupita ku court zachinyengo zokha zokha, shame to our courts kulibe chilungamo ku court ,chifukwa cha Ndalama, ma contracts favour ,pano simungaweruzidwe chifukwa cha ndalama , koma kumbukirani kuti pali tsiku limodzi loti mudzaweruzidwa with a roghtous

    1. yonayona says:

      What do you know on financial matters?
      Shame on you! Just making noise for nothing’

  16. jadabush says:

    I really want to buy shares….tell me much.

  17. Kadakwiza says:

    This is not good news to hear.

  18. Kambwali says:

    Mungogulitsa Blantyre Waterboard ndi ESCOM

    1. Hio says:

      That’s the best option but the services will be expensive

  19. Emmanuel Wa Luhanga says:

    Soon enough we’ll be renting the country.

  20. ben wa ben says:

    Ma awa atiberapotu apa

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