Msonda hits at DPP over sale of Malawi Savings Bank

Government’s decision to dispose of state controlled Malawi Savings Bank (MSB) has shown that “contact and dialogue is not part of Democratic Progressive Party (DPP) DNA,” former ruling People’s Party (PP) publicist Kenneth Msonda has said.

Msonda:  Contact and dialogue is not part of DPP

Msonda: Contact and dialogue is not part of DPP

Government is selling the commercial bank which is said to be weighed down by loans and is presently struggling to keep grip. According to the Ministry of Finance, MSB requires a US$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.

But Msonda alleged that the sale of the bank is being shrouded by a lot of enigmatic strings because “DPP top officials got huge loans from MSB and they are not servicing” them.

“That is why they want to dispose of the bank to write off these loans,” said Msonda.

He blamed the DPP for rendering a deaf ear to the opposition as regards the sale of the bank.

“DPP should tread carefully before disposing of the bank because this is an institution that has been helping Malawians across the country economically.”

He said it was unfortunate that DPP was operating in the bank’s operations.

“When we were in government they [MSB] made a number of proposals to enable them work effectively and one of the proposals was that there shouldn’t political interference in the bank’s operations,” he said.

He called reports that the idea to sell MSB is PP brainchild as “DPP propaganda.”

He added: “We never harboured intentions to sell of MSB. Our policy was, in fact, to depoliticize MSB and that all politicians who owed the bank should service their loans so that MSB could be on its feet again.”

Finance Minister Goodall Gondwe trashed Msonda’s remarks that government was disposing of MSB because some of its politburo “were failing to service huge loans they owe the bank.” Gondwe said there was nothing like shielding anyone.

However, Gondwe, admitted there were some people owing the bank an estimate of K5 billion accrued for some years, and that “MSB hasn’t been able to claim the money.”

Gondwe revealed that a private legal firm was being hired, on behalf of government, to recover the loans.

Follow and Subscribe Nyasa TV :

Please share this Article if you like Email This Post Email This Post

More From the World

Sort by:   newest | oldest | most voted
kudyetsamokwanira
Guest

Unconfirmed reports we hear that many retired Presidents outside Malawi are enjoying the woman a lot and of course in exchange. Shame on Joice Mtila from Likoma. Ex male Presidents abroad kusambamo zedi.

kuphwasulahc
Guest

But according to the type of English inhere being claimed and authored by Msonda, Somebody had drafted for him. As far as I know him iyeyu ndi mai wake School yeni yeni ndi ZERO. As for JOYISI Banda School PANGALI MAZENGO.When Joyisi is abroad and addressed as Dr. outsiders think that its real qualification No!!!!! ZANZI!! MANYAZI KUTHAWA. If you see that a chicken runs away from KAMTEMA LEAVING ITS ANAPIYE ALONE JUST KNOW THAT NKHUKUYO NDI CHISILU.

Wonder 27
Guest

Msonda when is your fugitive friend JB coming back to Malawi?Anzako achina Solsten Gwengwe akungolima ku Mchinji ndi kuyendetsa school.PP inatha ngati makatani but u r sticking to it.You are such wonderful loyal boy for sticking to PP in thick and thin.

Novirikana
Guest

Question. Where is PP?
Answer: PP is in DPP, completely swallowed!

Msonda wa Msonda
Guest

Kodi a Msonda, mudakali PP? Muti nayo bwanji 2019 popeza JB sabwera kuno? Just jump ship mukhoza kudya naye APM. By the way, do you still preach?

Kanamwali mveke
Guest

Ndege gate .Munamuzza ndani kut mukugulitsa ndege inu anyapapi.

bwemba
Guest

amalawi ndi makampani angati omwe tagulitsa koma osaphula kanthu? This is self enrichment.

MBACHI
Guest

Comment..GOODALL COME IN THE OPEN ABOUT MULLI NGONGOLI IN THE BANK.

pogba
Guest

Comment Whom did you hold dialogue with the time you were selling that presidential jet?? Or disyribution of nkhumba, abakha, mmemo, shoes etc?? Did you even consult National Disaster department?? Aren’t you politicians just the same???

Hardwick Mwenda
Guest

Lets talk chilungamo here, Mr. Msonda should stop making noise on MSB because records are clear PP initiated the entire program in 2013 and this evil DPP is just implementing what another evil party initiated. What should be known is that two evils doesnt make a right, worse still those who doesnt fear God will face the consequences no matter how politically/financially strong they are, its just a matter of time. God is always in control

wpDiscuz

More From Nyasatimes