Robbed blind: Muckraking on Malawi Savings Bank

Muthandiza olemera kale pamene osauka akuonaBilly Kaunda

What is the difference between the so-called ‘cashgaters’ and the cabal that nearly sucked the life out of the potentially biggest bank in the country, the Malawi Savings Bank (MSB), with their toxic loans? As we say in our street language, the difference is the same.

Malawi Savings Bank

Malawi Savings Bank

Yes, the latter robbed us blind by fleecing MSB of billions while the former did the same by playing Monopoly with our tax money. Perhaps the only difference is that the former will go through court processes where some of them will get jail terms, never mind that some – if not most as we have already started seeing – will get away with just a slap on the wrist.

The latter, however, is one hell group of lucky bastards – they have not only been bailed out using money from the same taxes from whence they robbed; they have also been given a chance to rob public banks more. If you do not believe me, did you not hear that one of these bank robbers, for that is what they are, put in a bid when another set of government-owned shares in a certain bank also went up for grabs?

I know some apologists will jump to defend government’s senseless decision, claiming that Treasury has bailed out nobody from responsibility of repaying the money. They will quote Nations Msowoya, him whose thankless job is to explain away government’s oft twisted finance management logic.

Nations says government forked out the billions to save the bank from sinking but no tax money will be lost because government is setting up a Debt Collection Unit. C’mon, good people, you do not need to be an economist to realise that that is pure balderdash.

Look, MSB as a registered bank, has legal avenues to force these defaulters to repay the money. The bank, for example, can repossess businesses and other properties to recover the same. If these cannot satisfy the loan the bank can go for the jugular and declare these defaulters bankrupt which can preclude them from bidding for any elective position or from registering another business.

But because these folks are well-connected the bank can dare do none of the above.

Now if a legally-constituted bank has failed to read the riot act to these bank robbers, how do you expect a unit set up at the pleasure of the same Executive that is actually backing the same frauds to succeed? You must be a fundamentalist optimist to believe in that miracle! Besides, while MSB has the law behind any of its actions, the so-called Debt Collection Unit will have no backing of any Act of Parliament. It will simply be ignored!

If truth be told, the Debt Collection Unit will just be another ruse for giving plum jobs to political apparatchik and tribesmen who cannot be incorporated into the Cabinet, diplomatic postings or on parastatal boards. Unit members, never mind that they will be at Capital Hill illegally, will be allocated huge gas guzzlers and fat salaries but they will not attempt to go after these bank robbers.

But the sad thing is that, while government is ready to pay off loans the bourgeoisie among us willingly and forcefully obtained, thousands of qualified teachers and medics – on whom government spent billions to train – are unable to be employed because Capital Hill cannot find money to incorporate them in the system. And yet there are thousands of yawning vacancies in the civil service.

As Billy Kaunda lamented in the quote above, the poor who woke up in the morning to put some privileged folks in State House, at Capital Hill or in town halls will just be salivating as a clique of selfish elites share the national cake among themselves while them – who are tantalised as masters – will not even sniff the pleasant smell of the crumbs.

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49 thoughts on “Robbed blind: Muckraking on Malawi Savings Bank”

  1. cheketa maviyambeba says:

    I think only the biggest revolution can put things upright in Malawi. Another MYP military like is coming. But we need another Boko like group to assemble. Malawi politicians are happy when they steal, leaving the masses suffering.

  2. Jkool says:

    I simply like the relationship the writer has put btwn cashgaters and loangaters!! Sth stinks smwhere, somehow!! Ct writing such eye opening issues!!!

  3. Anda says:

    “Let who has never sinned cast the first stone”

  4. Backiree Muludz says:

    When I was teaching you how to rob Government, my fellow southerners during my time, little did I know that I was destroying this nation. Sorry Malawians I know the blame goes back to me for teaching the nation stealing Gafment money.
    The situation is now beyond control, the nation is today in rags and nobody can heal this damage which I started, I repeat sorry Malawians, forgive me. There is no Government in the World that pays back loans on behalf of an individual as has been the case here in Malawi.
    Malawi Government paying back billions loan which Mulli took from Malawi Savings Bank. It has never happened before in the history of the Earth. This is more than cashgate. Better we voted MCP to restore the lost glory and bring back sanity and meaningful development other than DPP. Sorry Malawians sorry.

  5. Enidziko says:

    Mbava inu mukufuna tikuthandizeni kulipira ngongole ya Mulli. Ine ngongole yanga ku bank andithandiza ndani kulipira?

  6. Geoff Banda says:

    Some people are heartless. You want a top position to plunder public resources and leave the nation in abt poverty while u enjoy the goodies. The results of entrusting a wallet with thieves masquerading as angels.

  7. angoni says:

    Tenthe…. moto Kui buuuu

  8. nana says:

    Govt school us now.does it mean that these people owe you now?if they default you we want to see their businesses confiscated within a year.zamanyi ayi because ordinary persons pay their loans on their own

  9. Wachikond says:

    Mukatobwereza dala hai mukayesa mphini?

  10. vero says:

    spa ndiye taberedwa..a Malawi….mmaso..muli ngweee….opposition…Tipange bwanji…ndrama zathu zipite chomwechi???

  11. A Cuthbert says:

    Brutally no nest article! We are being governed by a bunch of ruthless thieves! May they all rot in Hell!

  12. makito says:

    Ndipo inu!!!!

  13. YOHANE MBATIZI says:

    Cry my beloved Land. Almighty God -How long will we bear this crockery ?Have mercy O LORD on our land. People taking advantage of the illiteracy levels in our mother Malawi -Yet they are busy preaching that they will alleviate the same.MY God !!

  14. Mtoloboy says:

    Kalanga Kamuzu anaferanji….Dziko lino mpaka yesu adzabwera basi…no ways

  15. KUKHALA says:


  16. lhomwephobic says:

    i hear you tenthani, my taxes are being played with, but please try to keep your articles a little bit shorter and tone down on the deep technical jargon. i tend to lose interest after a few lines.

    anyway, leonardo di caprio said it best in blood diamond, his movie that was set in africa…”sometimes i wonder if god will ever forgive us for what we’ve done to each other, but then i realise god left this place a long time ago.”

    anthu akuda sitidzatheka. we are the forsaken race.

  17. Enidziko says:

    My man Ralph is the proverbial ‘mad man who saw the war coming’!

  18. Sunrise says:

    Hey there are now more Actors coming on stage. After Csshgaters now enters the Bank Robbers kkkkkk Muckraker woyeeee

  19. Bob says:

    Zoona and very pathetic.

  20. Real Patriot says:

    Why should we bail out the thief Mulli and his other Lomwe thieving cronies?Sell their properties and money should be recovered in that way than selling the msb to their Lomwe cronies.These Lomwes think that they own us and can do things at their will.Don’t they know that we never voted for them if it was not tampering with votes?Can you spare us from this bullshit?If you have failed to run Malawi you better resign than just messing around like you are running your households.

    1. Gogo says:

      No no, let us not refer to Lomwes, a great majority of them who are deep in poverty in their villages. The thieves are Peter Muthalika and his cronies. We should desist from tribalizing these issues.

  21. ambuje says:

    malawians are the most stupid people on planet earth and no wonder this is happening in malawi where every one is snoaring all day long.

  22. nzanani phumisah says:

    Ndiye ifeyo ukuti titani? Iweyo wanzeruwe wachitanji kuti ndalamazo zisabedwe? Bambo ngati kuli kuchenjera nkulemba zopusa mudzilembera ana anu zimenezo. Ukulephera kusolva timavuto tamnyumba mwako ndie udzikafefeta za msb swine

  23. Point Blank says:

    Ralph and your writings again. Remember what I told you sometime back, Only the straight minded people will understand the senses in your lines. I agree with you in totality and this is more than cashgate since nobody will be tried in a court of law. The implication is that the next Governments will use this mafia like strategy to rob Malawians off their meagre resources. Maybe some will try to justify this move to be private sector stimulation but I don’t subscribe to that reasoning at all. Its high time our leaders behaved inline with their written speeches. I pity APM and Chilima for this will damage their integrity as it is very far from their reform program. Probably Somebody has threatened to spill the beans if nothing is done before his property is impounded. I think the hopes we had in this Government are quickly shedding off.

  24. Foolish Malawi why write off someone’s debt when he is still alive and running his businesses. Parliament please bail us from these crooks. We were thinking that business is stable by transfering employees from the Bus Company to yours. Shame next time i will vote you people out. So Z Allan Ntata is right with his rantings.

  25. Observer says:

    Cry my Beloved Malawi! Why the hell do we tolerate such madness? Now there is another executive gaffe to buy a Presidential Jet for HE travel comfort yet we can’t afford to recruit teachers we have already trained. And we will clap hands for all this crap!

  26. pamsundu says:

    Where were you when 65 companies during muluzi and chakufwa were wholesale sold?Are you administrators?Used to arguements

  27. pamsundu says:

    Where were when 65 companies during muluzi and chakufwa were wholesale sold?Are you administrators?

  28. George Lihoma. says:

    Its beyond the realms of Justice.

  29. Nkhedu says:

    Tinanena kale kuti all these baboons are thieves.Vote for MCP in 2019 kuti mwina ndikuzaona kusintha.

  30. Tim Masamba says:

    Is this the same Treasury that is failing to collect students loans,MARDEF loans, JB’s fertilizer loans and former MP loans so you expect them to collect 6 Billion, what are you smoking?

  31. Munthu wa Mulungu says:

    Xenophobia is abit kinder than this because it targetted foreigners while this government is stranglating its own people. Maybe theirs is not the people but the money. Lord of mercy, please, save Malawi from these day light robbers.

  32. Saiziyakana says:

    Muckracking! you are very right. Malawi and Malawians are very funny people – these thieves will not be taken to task. The design of the political system in Malawi is such that you rarely get people that are in the right position to do the right things for development of this nation. Why is it that you and many Malawians outside the influential positions are able to see the stupidity and robbery while the president, the economic minister the reserve bank governor the secretary to the treasury and the list goes on do not see such. How come the leader of opposition can not galvanize the people to oppose this. I think we should reach a point where enough is enough and make our politicians accountable no matter what the consequence. We need to redefine what they can get away with and what they can not get away with. Revolutionary type of change is required to deal with this stinking retrogressive type of behaviour.
    However the masses are too ignorant and are deliberately kept so for the same reason. We should however rely on the good conscious of our leaders which is hardly there.

  33. Tim Masamba says:

    Well,well,well here we go again!!! The issue of “bailing out” a struggling bank is nothing new a good example would be Northern Rock(UK) bailed out by HM Treasury. However when these things happen in the other countries the institution is Nationalized to protect the public money from being lost. But here in Malawi we are going to use Tax payers money to “free” public investment and then struggle to collect the same through some dubious government agent!!! By the way has the Minister of finance received approval from Parliament to spend this money in such manner though the Appropriation Act(budget)? Well Parliament here is your chance to SAY NO TO THIS BULLSHIT!!!!! Peter must tread very carefully MULLI will bring him down sooner that he expects…………..

  34. Thyolo Thava says:

    Zoona izi….Muli mbava….being shielded by Goliati brothers…Nde musiyeni Raph Kasambsla, Pika , Mphwiyo nda amzake….u r all thieves…..mbava DPP mbava APM….mbava Kaliati…mbava ina yaba malo a Waterboad …Masangwi pa Robins Park

  35. blackberry says:


  36. zphiri says:

    if malawi is failing, it is because of politics (politicians)

  37. Mulukunuwa maluku says:

    This is another day light cashgate the formular is simple support us and u wil be rewarded

  38. Kaka says:

    There is some sense in this…Nice piece of writing!!

  39. Kenkkk says:

    I think the acb should investigate. This is within its territory, why is this msb corruption not being investigated by the ACB?

  40. ujeni says:

    Mavota vota tinavotela nazo ma mafia. Koma amangwetu

  41. Obvious Phiri says:

    The government has never had a good record collecting debts whatever body is mandated to do so. Youth loans, anyone? How about students loans?

    I’m sure behind the scenes these shameless thieves will share the spoils. And some of the money will end up in blue coffers,

  42. Joseph says:

    Satanists. Thats the word we call the DPP gvt. Full stop!

  43. BigMan says:

    Pathetic journalism! MSB’s problems are not just a few billion kwachas of toxic loans and if you spent a few minutes to do any thorough investigation you’d know and report factually. Instead you and the usual suspects just want to engage in lazy barking, barking, barking and barking some more …for nothing!

    1. Kenkkk says:

      BigMan, just tell me how the govt is going to recover money from mulli and other debtors of msb? Is it right for a creditor to bail out his debtor by writing off the debt?

  44. honourable says:

    Tenthani u ve talked exactly wat i was myself. Wats wrong with these guys? Opposition MP, wat are u doing with this issue? Don’t discuss anything on the budget unless this must be explained properly. Shame on this government.

  45. chakwanuleka says:

    This president should be impeached. He has no clue to run this government whatsoever. All he is busy doing is to continue from where his brother left in looting this country. He stole our votes and that should have been enough but Alas, he will steal everything.

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