PP demands Gondwe, Chuka to resign over Malawi Savings Bank saga

Former ruling Peoples Party (PP) has demanded immediate resignation of Finance Minister, Goodall Gondwe, Reserve Bank Governor, Charles Chuka and Malawi Savings Bank (MSB) boss, Ian Bonongwe for misleading the nation and the State President on the bank’ postponed sale.

Gondwe: Face resignation calls

Gondwe: Face resignation calls

President Peter Mutharika on Wednesday postponed the intended sale of MSB Bank calling for proper review of the process to dispose government’s interest in the financial institution.

The opposition Malawi Congress Party (MCP) welcomed the suspension of the bank sale with caution, saying this should be a legit decision to really pave way for dialogue.

However PP while welcoming the move as a commendable stand, argues that the sale transaction was supposed to be completely put off and start afresh and ”not just put on hold or suspended”.

PP spokesperson, Ken Msonda argued that the transaction was boarded on shrewdness and

He claimed that some top DPP, government and private sector officials advocating for  the sale of MSB Bank were allegedly silent shareholders in the Consortium that wanted to buy the bank.

”We are calling upon ACB to investigate these allegations. Imaging State House through the Presidential spokesperson is not coming out clearly on the way forward.

”Presidential spokesperson told the nation that the sale has neither been suspended or cancelled but put on hold. This raises a lot of suspensions. The DPP led administration is very secretive in dealing with matters of national concern,” said Msonda.

Msonda therefore called for resignation of Minister of Finance, Goodall Gondwe, Chuka and Bonongwe, claiming that there was more behind the MSB Bank sale transaction than what the nation and President Mutharika is being told.

In a statement delivered on Wednesday by Press Secrtary Gerald Viola, Mutharika said the decision to suspend the sale was in response to numerous calls for a thorough examination of the sale.

Mutharika said government listened keenly to debates surrounding the sale and that a review shall be undertaken.

“The review will cover all the aspects of the transaction. I am therefore inviting all those who have spoken on this matter including the Members of Parliament, civil society organizations and the experts to come up with reasonable proposals covering all the aspects of the transaction so that we can map the way forward,” he said.

The President accused some political forces, from the opposition and other sectors, of being unfair in their arguments saying government’s decision on the sale is supported by the Institute of Chartered Accountants in Malawi (ICAM); the private sector; the Regulator of Banks and Financial Services as well as the donor community including the IMF, among others.

“These are professional bodies and experts on the subject” he argued.

Mutharika however pointed out that that it is imperative that Government disposes its interest in Malawi Savings Bank for the good of the National economy.


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Peter Mathanyula

Anyani kusekana zikundu. A Ken Msonda mungamanene anzanu za katangale. Mwaiwala kale za cashgate zanu zija. The only party that can comment competently on this matter is MCP. Neither Udf nor PP can tell us anything tangible about the bankgate that the dpp is engaged in. Udf, PP, and dpp nonse akuba.

John Yosefe

Govt. should abolish Privatization Organization because it has caused a lot of miseries to malawians. Railways, Whitex etc employees were rendered jobs after privatization. Govt should have shares in these companies.


Amai ndi abambo ndati ndikutsimikizen kuti mukandibvotera, ndidzapitiriza pomwe Daniel Phiri, aka Bingu Wa Mutharika adalekera. Kupatula pa PAYE, VAT aliyense amapita ku RTD, ali ndi galimoto, driving licence akapange register ndi K5000 yokha basi, imene ena akhala pa nzere kwa week yathunthu kufuna kulipira, kusiya zintchito, business koma sizikuthekanso, shame to my Malawi! Mwabera anthu za ma no plate, floods donations, K92bn pano muli pa MSB, munakhala bwanji andale aku Malawi?


Goodall’s skills are outdated as they were relevant during the days of the cold war when economics were straight forward in the sense that if you were pro west, you were assured of money from the west and if you were pro East you could also get aid from the Eastern block
It is high time we focused on relevance of people not just trusting in the worth of all those who have been working for international organizationi and getting excited. amene aja amagwila kunja basi zausilu


Consider the following linkages: thom mpinganjira-msb-mulli-home boys and: thom mpinganjira-bright malopa-state house-ambitious hotel project at cape maclear-home boys


afisi okhaokha inu akuba, agondwe asachotsedwe koma kumangidwa, anapeleka umboni wonama

Tim Masamba
The Malawi Government has a poor history of managing financial institutions regardless of their names, MDC,SEDOM,MSB,,,,,etc let alone it’s own budgeted funds. In an ideal situation these institutions are the to serve and benefit the people of Malawi but in the end they have all ended up costing the tax payer an arm and a leg. And the within lies the problem. The recapitalization of MSB will not be done using “free” money!!! this money will come at the expense of social services and other development projects that would have helped improve the lives of many poor Malawians, I understand… Read more »

Do not sale the bank as doing so would give problems to rural people who get banking services within reach.

mulhomwe waku Luchenza
mulhomwe waku Luchenza

Goodall crook since long tym ago!!!! go to hell wth ur so called DPP


Goodall Gondwe in particular should not be given the option to resign. He must be fired for giving wrong advice and hypocrisy on the sale of MSB. Opportunist like him are not supposed to have leadership positions because they only care about their own welfare and not that of the people.

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