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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22 thoughts on “PP demands Gondwe, Chuka to resign over Malawi Savings Bank saga”

  1. Peter Mathanyula says:

    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.

  2. John Yosefe says:

    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.

  3. Smart says:

    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?

  4. bob says:

    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

  5. Sawi says:

    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

  6. bwampini says:

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

  7. Tim Masamba says:

    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 the sale of MSB from a liability disposal point of view but the question that MSB and Government must answer is; NB and Standard Bank have both made profits over and above 10 billion kwacha in the worlds poorest country and they continue to make loses, how?
    As for PP remarks, that’s a fool making noise with an aim of seek relevance on topical issues.

  8. Dalison says:

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

  9. mulhomwe waku Luchenza says:

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

  10. bob says:

    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.

  11. Jelbin mk says:

    Baba wa boy your education level is too low and your thinking capacity is too limited ands your queen’s language bears witness of this,it is resoundingly horrible. You commenting on things you have too little knowledge about and exposing your naivety excessively. Come to South Africa and see how banks with government stakes perform such as ABSA and FNB.

  12. Daud Sabulani says:

    DPP mumadandaula kuti jb wagulitsa ndege.tsono inu mukugulitsa bank yopanda vuto lirilonse,mwatani a dpp.ilbe ngongole koma inu ndiamene muli ndi zingongole zankhani nkhani mubankiyi. Musatero aaaaaaaaaayiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii .

  13. Nalimata says:

    Msonda with a primitive face and funny shaped mouth. Mwahahahahahahahah chamunyerera chipako.

  14. chomoncho says:

    Kodi wa PP wanena simeneso ndi ndani. Mmesa onse apangagako resign. Kwasalako ndani kodi?????

  15. At comment number 2, the so called Baba wa Boy, get you facts right, desist from making comments before conducting any plausible research on such issues. The problem here is not that it is a problem for Government to own a bank or any enterprise, NO, the argument is that Malawi’s political leaders ((government) should learn or if they cant learn be forced to run away from interfering with state enterprises because they belong to all Malawians not individuals its our money hence we cant allow APM, Mulli and cronies to take things that belong to us. Besides, in case you need abit of knowledge grilling Malawi is not the first country to own a commercial bank in fact since the failure of the market system in Asia in 1997 and global financial crisis of 2007/08 most countries are resorting to having commercial banks being owned by Governments. I case you dont know over 80% of commercial banks in China and India, the current growth role models for LDCs are owned by government. Don’t take for word what IMF or these specialists tell you for granted.Often they tell you one thing and do the other in their countries. Another example in case you don’t know since the financial crisis most big banks and financial firms in USA and Europe have now been nationalised (state has more shares). The so called recapitalisation of banks by govt in the Westtern countries after financial crisis in short meant Western governments increased their stake (ownership) in commercial banks to prevent another economic recession. This they can not tell you because it would appear that capitalism has failed which is one thing the West would not want to accept. When making comments please don’t rush at rapping words before going into the root cause. Malawi’s banking sector is one of the most profitable sectors in Africa despite the economy registering dismal economic progress.Likewise, MSB has capacity and has shown it through its growth and innovations that despite being state owned has capacity to generate additional revenue for government we cant rely on tobacco and aid forever. Some of the biggest banks and companies you hear of are state owned, even where the so called IMF guys are coming from.examples including KFW Bank, DHL,Duesche Post bank, (germany); China and India and most rich Asian countries over 80-90% of whole banking industry;Swiss Post,etc(Swirtzerland);BBC, Nat Holdings,etc(UK),South African Airways (South Africa-even Zuma upholds that!),many banks in USA now just add to your list those financial firms that got recapitalised, the list is endless. Let’s learn to argue based on facts and impartiality. Much as you love DPP, have some room to think for the good of the nation. We are a failed nation not just because our leaders are corrupt but because we love to be blind followers of political leaders (opportunists) who take advantage bu fuelling on ethnic divisions exacerbated by high illiteracy levels and poverty. Let’s first find reasons that made MSB and these other state companies fail.Learn from our friends registering miraculous growth using such state owned banking models in especially in Asia. If only when we know it’s something we cannot do as a failed state can we do transparent ways of disposing the bank, otherwise Malawi will remain a ridicule if we think always the West should think for us.

    1. b says:

      What you are ranting about and what I have said have no correlation. I do not meet to do a research to comment on these issues.

      I am sure you did some research on some irrelevant topics, and liked your own comment.

  16. Mpandazina says:

    Even the Opposition are supporting the idea of selling MSB but that should be done in a transparent manner. The point here is that MSB should be given time frame and sortout all issues and let be sold through Stock Exchange so that the bank belongs to Malawians. It does not make sense/not fair that only a few individuals benefit because they are related the the Ruling Authorities or because they can manipulate.

    I totally agree with PP as well as MCP. Lets fight for the betterment of Malawi. Air Malawi can not be compared with MSB.

  17. ,MYEGHA,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, says:

    Take care with DPP they want budget to pass then contnue selling the bank.

  18. Mweneku Muzi says:

    PP was not secretive on cashgating stupid msonda with your Primitive face…

  19. henry sekeni says:


  20. Baba wa boy says:

    For people that have the welfare of this country at heart, the sale of MSB is the right thing to do.

    Those that have some knowledge, unlike Msonda who seems to have none,about how the financial market should work, there is no need for government to have a stake in MSB.

    Malawians are complaining about Muli, now, which is understandable, but they do not seem to realise that if government maintains its stake in MSB, there will more Mulis in future.

    There has to be a cut off point and that point is now!!

    Politics aside, MSB government needs to rid itself of MSB.

    As for resigning, this is where one can see that Msondas statement is just political rhetoric, which is becoming tiresome.

  21. nYAU SITHOBWA says:

    Agoodall Yambani kupemphera zisiyeni za dziko Mukuba kangati adazisiya Bingu inu ndiye Muyaya- Achuka kodali azanu ku Reserve where are they watch your move

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