Salient issues on sale of Malawi Savings Bank

This write up outlines important issues on the impending sale of Malawi Savings Bank limited. In the sale there are a lot of selfish motives sugar coated as if they are beneficial to the Bank but in the process the country will lose yet another important asset.

Malawi Savings Bank

Malawi Savings Bank

This artivcle covers the objectives of MSB, coverage, the agenda to sale under the disguise of compliance to Basel II, the tactics deployed, controversies surrounding the sale, consequences and the proposed ideal way forward.

Objectives of MSB

MSB is a former POSB established in 1910 with the objectives to:-

  •  Provide Financial Services to both urban and the rural population.
  • Strategic partner to government in social and economic development. Where necessary the Bank is used to deliver government initiatives such as payment of government salaries in rural areas, facilitate importation of critical commodities such as fertilizers, medicines, etc.
  • Pursue the Financial inclusion agenda of Government. This is achieved through its wide network throughout the country so that people especially in rural areas do not travel long distances to access banking services.
  • Inculcate a culture of savings among Malawians especially in the rural areas.

Network

The Bank operates in all districts of the country. It is the largest financial institution in terms of Branch Network and outreach to the rural population. In total it has over 63 outlets inclusive of the forex bureaus, MRA onsite revenue collection, Immigration onsite revenues collection and Registrar General Collection points.

The illicit Sale Agenda.

The agenda of selling the Bank is propagated by selfish individuals under the disguise of meeting the :-

  •  Conditionality of World Bank/IMF. The World Bank/IMF believes Government should not run Business such as Banks but the same Government is required to provide social economic services to the rural communities which are not that profitable many times. MSB plays that role.
  • Compliance to Basel II. Basel II is a framework to assist Banks manage financial risks well by maintaining a certain level of capital. In Malawi the RBM put minimum capital at the equivalent of US$5million (K2.2billion). MSB meets the minimum capital but not the optimum capital to meet the prescribed liquidity and capital adequacy ratios The irony is that there are very few countries in Africa that have adopted Basel II. None of our neighbours has implemented Basel II and yet their economies are stronger and bigger than Malawi’s economy.
  • Bad Debts that are eroding the Bank’s capital. The Bulk of MSB non performing loans belong to Mulli Brothers Limited. Why can’t Government intervene and have Mulli Brothers Limited forced to repay. Why should the whole nation lose a Bank just because of an individual company? In any case, the Mulli loan was granted through the previous DPP administration interference.

The reality and objectives of the proposed sale are:-

  • Enrich a few individuals. There are few people in position of influence that want to rob Malawians of their Asset (MSB) for their personal gains. The Governor of RBM, FDH Officials, Key Ministry of Finance Officials, MSB CEO and others are conniving to have the Bank sold so that they buy it for their own gains through the backdoor.
  • Enrich a tribe at the pinnacle of power at the expense of the whole nation. All the influential people interested to buy MSB belong to a particular tribe. This is designed to enrich that tribe at the expense of the whole Nation. Why should the Asset of the whole Nation benefit one tribe?
  • Pay off Mulli Brothers Debt through write off of the Bad debt. There is a proposal that as part of the sale process of MSB, the bad debts (Toxic Assets) must be removed before the buyer buys off. This translates to Government paying off the bad loan on behalf of Mulli Brothers (currently about K5billion). Why should tax payers’ money be used to pay off debt of an individual company?

The tactics

The RBM Governor has deployed the following tactics to influence the sale:-

  • Scare off Government by inflating the Capital requirement for MSB to comply to Basel II. In reality the Bank already meets the minimum capital requirements for Basel II. To meet the optimal requirement, the Bank needs approximately K4billion only. When Government expressed willingness to pay K4 billion, the RBM Governor advised government that the Bank requires K23.7billion additional capital as a deliberate effort to scare off government. The RBM should be called to explain how they got to K23.7billion. Management of MSB can also be called to explain why they only need K4 to K5 billion.
  • Exert pressure on the Bank to meet Liquidity Reserve Requirement (LRR). MSB as part of serving Malawians in rural areas does operate in some unprofitable locations. It needed to be exempted from full compliance with LRR requirements. The RBM Governor is uplifting the exemption on LRR so that the Bank is seen to be failing, in order to justify the sale or closure of the Bank.
  • Capitalising on knowledge gap at Ministry of Finance. The current Secretary to Treasury is coming from the Academic background and not yet exposed to the politicking and machination that takes place in Government. Consequently the RBM Governor and Finance Ministry are exerting undue pressure to force him issue out instructions to sale the Bank to FDH at the expense of Malawians. The ST’s office is being manipulated by the Finance Minister and RBM Governor in selling the Bank without him knowing that he is promoting the interests of few individuals at the expense of the whole Nation.

Though unrelated but it may be worth noting that the FDH Bank Zomba branch is housed in a building owned by the ST.

  • Media Sensational articles. Deliberately releasing sensitive and confidential information about the Bank in the print and other media. The confidential information published by the Nations Newspaper is privy to the office of RBM Governor, ST and Ministry of Finance. The release of such information to the print and other media is a calculated move to de-stabilise the Bank, create sensational news and scare away customers. Should that trigger run on the Bank, then that should justify closure of the Bank and sell it at a song, just as it was the case with David Whitehead and Sons (M) Ltd.

Controversies on Sale.

The proposed sale of MSB is embroiled in several controversies such as:

  • The Sale price. The sale price of the Bank is being pegged between K400 million and K800 million. Yet the assets of the Bank are worth in excess of K46billion as end of November 2014. For instance, Head office building alone is worth more than K800 million. What about ICT equipment, staff skills and other assets. This is tantamount to day time robbery.
  • Government is being informed by RBM to re-capitalise the Bank by pumping in K23.7 billion. If Government can realise K800 million only after sale of the bank, what is the justification to spend K23.7 billion? The two aspects do not reconcile.
  • Government intends to clear off bad debts/toxic assets (about K6 billion) and yet it will receive about K800 million maximum when the Bank is finally sold. Where is the logic here?
  • If Government pays off Toxic Assets then the Bank would comply with Basel II and therefore no need for selling it. If Government is keen to pay off toxic assets then why does it not pay K4 billion capital and let the Bank move forward.
  • If the sale of MSB is through the tender process, why should ST’s office issue instructions to PPP to sell the Bank to a small and private local bank? The PPP is in possession of such instructions. The current bidding process being undertaken by the PPPC is just a farce to cover up for the hidden agenda being concluded behind the scenes.
  • Government wants to sell MSB under the pretext that Govt should not run such Businesses but at the same time it wants to start yet another new Bank. Why not improve the current bank?

The controversies on sale of MSB, highlighted above points to the fact that few individuals are geared at stealing such an important asset from innocent and unsuspecting Malawians using their positions of influence. The Basel II compliance is just being used as a scapegoat. Not many countries have adopted Basel II.

Consequences of sale of MSB

Malawi Savings Bank plays a unique role in reaching out to the elite and ordinary Malawians in provision of Banking services in both rural and urban areas. Its sale shall have the following consequences:-

  • Loss of National Asset. The Government and Malawians will lose this important asset that was promoting financial inclusion and assisting in economic development of the country.
  • Financial Exclusion. The Bank maintains minimum book balances of K500 which enables many Malawians open accounts with it. There is no guarantee that the new buyer will maintain such minimum book balance requirements.
  • Many people will not be within reach of Banking services. Since these Banks will be concentrated in urban centres, they shall create a divide between rural and urban people in terms of access to financial services. The main objective of the new owners will be profit generation hence most rural outlets will be closed to cut costs operational costs hence making rural people suffer.
  • Reduction of Banking network. Most of the Rural Branches will be closed and therefore many Malawians will not be within reach of Banking services.
  • Loss of Jobs. The majority of staff will lose their jobs as a new shareholder comes in. It happened in Standard Bank in the past. The Bank has in excess of 600 employees that may not be absorbed by new share holders that will be focussed on financial gains (profits).
  • Loss of MSB brand. MSB is a history from POSB. This will be lost. The unique services the Bank provide in the rural areas will be lost.
  • Enrichment of few individuals. Greedy people will buy off a National Asset at the expense of the whole nation.
  • Defeats purpose of privatisation. The privatisation of government assets was meant to benefit the Majority of Malawians. However the impending sale of the Bank to tribesmen and few individuals in positions of influence is an abuse of office and denies Malawians of share ownership.

Proposed way forward

Malawi Savings Bank has contributed to National development since its inception as POSB and later as MSB. The best way of disposing it is not by giving it to a few individuals or tribesmen on a silver platter or for a song. The best way is through the Initial Public Listing (IPO) on the Malawi stock Exchange through public share ownership where the majority of Malawians can participate.

The following is a proposed way forward:-

  • Government can re-capitalise the Bank by injecting K4 billion and not the exorbitant figures being deliberately propagated by RBM to scare off government.
  • The Management of the Bank should be tasked to improve the performance of the Bank in the next three years by among other things ensuring that the bad/toxic assets are collected.
  • The RBM should be instructed to grant a LRR waiver to MSB on the understanding that the bank plays a developmental role in assisting Government by operating in rural areas. This waiver could be for maximum period of 2 years to allow the bank recover fully.
  • Government sales the Bank in the third or fourth year through IPO on the Malawi Stock Exchange. This will have a viable institution owned by the majority of Malawians.
  • Government should consider pending the formation of another Bank and instead restructure and recapitalise MSB with a view to empowering it to undertake more roles which would otherwise be undertaken by the proposed Development Bank.

 

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61 thoughts on “Salient issues on sale of Malawi Savings Bank”

  1. Chimboche une mwanache jwa a Atati says:

    Tifuniranji UMBONI wina. Mulli alone owes the Bank K4billion. The Bank needs almost the same amount to comply.

    So why not push for the collection of the debts?

    Monga boma can not manage to provide K4billion plus to enable the bank keep afloat?

    Why should Government choose to lose K43billion worth of Assets for failing to provide just K4billion and choosing to get K800 million instead from the sale?

  2. George says:

    Very informative. The writer took time before writing this article. Good job and please keep it up.

  3. NYANYAWE says:

    IFE KWATHU NDIKUONERA

  4. Tamukankhani poni pampando uyo akutsogolela zogulitsa MSB basi ngati zingotelo basi zinthu zavuta ndie kuti bomali lasowa zogulitsa eti bwanji osagulitsa state house kuti lipindule zeni zeni. Eeeeshi koma kumalawi lachuka ndi dyela uyu akuti goodall u simunthu ai koma chaphwanya kaki man

  5. matt says:

    All malawians of goodwill let’s organise a meeting in lilongwe and map the way forward.Lets not waste time pointing fingers at anybody before we find the root cause.

  6. Ralph Kachindankhuku says:

    Let me respond to the proposals put forward by the editor. 1) You suggest that government pumps in K4bn. Am saying categorically no. Dont waste my tax money in paying for inefficiencies in MSB. 2) you say management of the bank should be tasked to improve. This cant work. All these years they have been failing. We want new management. 3) you want RBM to be directed; by who?? RBM operates independently from government. 4)…

  7. John Mphatso Mwakhwawa says:

    Koma anthu a nsanje inu why didn’t you apply when the tender was put in papers??? Did anybody bar you?

  8. Nyamkaka says:

    Govt must keep the bank and ensure that Mulli and others pay all their debts.

  9. Nyamkaka says:

    I agree with the many points raise by the writer. However, I do not agree that the bank should be sold through the Stock Exchange. The problem is that only rich few Malawians will buy the shares, leaving the majority Malawians suffering. Let govt recapitalize it and run it.

    It is assisting many Malawians in the rural areas because it has lot of outlet. It is also not true that govt should not run the bank. Many govts run banks. Just google the countries.

  10. E mapapa says:

    Anthu inu Bank iyi ndi yadziko chofunika tivote basi kuti malondawa ayende

  11. Proff. Centvinnie says:

    Where is the problem which makes the bank not to recover its loan given to Mulli? should the whole nation suffer under ones non repayment of loan which he obtained to enrich himself? Malawians, are we really serious to combat our poverty situation? guys, we should not allow the sale of the bank whatsoever. This is stupid arrangement.

  12. Bobo says:

    Holly ghosst fire to all bad leaders

  13. Alick says:

    There are to many errors in the article due to inferiority complex, hatred, tribalism and evil mind. The author can not even explain why world bank and IMF want the bank sold. If he has interest why not bid it with his tribesmen? Awaletsa ndi ndani?

  14. mbwinye says:

    Comment The govt is full of thieves and tricksters. Goodall, Ian, Tchuka musakhale ozikonda. kumamva kudzudzulidwa. Mukusewera ndi MULUNGU ATATE. Akakukanthani zanu.

  15. Namalira says:

    Koma nde kuwanamiza aMalawi mapeto. Eish, dziko ili kumvetsa chisoni! AMalawi kumakhulupiliradi ndithu? Akuti minimum capital requirement ndi K4bn, imeneyotu ndi yotsegulila banki. Banki ikatsegulidwa, minimum imatengela zomwe bankiyo yabwereketsa ndi m’mene ma account a bamkiyo akuyendera. Izizi ndi mbwerera zalembedwa apazi. Nkhani za chumazi bwanji ma nyuzi azisiya kuti anthu aukachenjede wa za chuma m’maofesi mwamanyuzipepalamo ndiwo adzilemba kuti zizikhala zosanamiza anthu? Chisoni.

  16. SIKHOKHO says:

    Imeneyo ndy deal!!!! Tigulitseni alomwefe tilemere.a

  17. Chatty Man says:

    Mbava izi ambuye langani nokha anthuwa!

  18. Phwado says:

    Malawians not in deep slumber but permanently in coma!

  19. MAJO says:

    That is another big cashgate. Boma likupanga as uneducated farmer who does not know how to calculate profit or loss but yet continues growing tobacco while he is losing. How can it sell MSB at 800 million instead of billions of kwachas. Umenewo ndiwo UNYIMBWA WA MAKHWAZAZA. Stupid govt

  20. Sosten Gwengwe says:

    I don’t agree with your stupid article. Wangodana ndi DPP! Ukhaula.

  21. Jim says:

    Nice article,indeed wy selling a bank and forming another one, why not IPO so that most Malawians benefits,Viva Nyimba wrote the same in nation newspaper seems Malawian knows the truth

  22. Salvador says:

    nice article..a few inconsistencies here and there but overall very good..now we have the info malawi, what do we do to prevent this scam..heads must roll here

  23. Wakwithu says:

    This write up is great! We know there is a conspiracy on MSB sale deal and the DPP gurus stand to benefit more than anyone else. Why cant govt learn to say NO to IMF on such matters like MSB sale if at all they recommeded it as is case with other countries particularly in East Asia/? Kodi dzikolo lilibe a eni ake mxiiii ngati ndife matchona tonse like Goodall, APM et al?

  24. MBACHI says:

    Comment. GOODALL, BAMBO AKO SIAMAFUNA KUTI TILANDIRE UFULU. HE WAS SIDING A SAMUNDA. SO YOU ARE NOT SUPPOSED TO HAVE THOSE POSITIONS. WE WILL DO OUR BEST TO LET EVEN THE UNBORNE KNOW THIS BACKGROUND OF YOURS. THE ONLY THING YOU CAN DO NOW IS TO APOLOGISE TO MALAWIANS AND ASK FOR FORGIVENESS.

    1. Wiseman says:

      Sizikugwirizana man. Zama jealous basi kkkk

  25. MBACHI says:

    Comment..WHAT PETER HAS DECLARED IS OUR MONEY THEY STOLE WITH MULI FROM MSB AND NICO. THEY WANT TO SELL THE BANK SO THE NGONGOLE CAN BE WRITTEN OFF. SITIROLA. GOODALL YOUR FATHER WAS KAPIRIKOINI

  26. peter says:

    Whys is the government failing to dismiss Chuka as governor of RBM after failing to protect public money that was lost through cashgate? Or is this the deal that Chuka signed with executive ‘thieves’ to enable them to steal more public assets such as MSB?
    Some people are very foolish; they think that because they have some power and influence they can get away with anything! No, you are mistaken, time is coming shortly when you will surely pay for your foolishness that is putting many lives in shameful poverty.

  27. chaiwone wawo says:

    I was also thinking Malawians should really demonstrate in the streets to protect the bank from the sale. Mtundu ukunenedwawo aliyense akuuziwa. Zachibwana zikuchitikazi. the other way is also to boycott FDH as a bank. those who have accounts with FDH mukatseke because we now know they are part of a syndicate that is there to rob Malawians. My account with FDH ndikateska monday.

  28. DOBO says:

    Within one in a year in Government,DPP is already torn apart by financial controvencies. What’s wrong with this party?Something is wrong with party?By the way,where are those vocal civil right NGOs and Oposition Political parties to say something on this?

  29. tuvi says:

    Where is John kapito? Mtambo? Trapence?, Martha Kwata ine? ; Dorothy Ng’oma? pliz gang up and rescue Malawians. we rely on you and not MPs who have failed. The whole country will be behind you and MSB will not be sold but if we rely on MPs surely the bank will go to idiots

  30. Mnyako says:

    My fellow Malawians, this is Goodal Gondwe and his matchona friends working in a mafios style. I have never been impressed by this Goodal Gondwe. He does not know good economics but all that he knows is how to steal from the poor to enrich himself and his cronies. Each time he is Minister of Finance, he always raises the fees in all government institutions. Look at passport fees, driving licences, traffic offences, etc. Amalawi let us all rise against this stupid Goodal and he should be investigated by ACB. If the Finanace Minister could have stood his ground, that is if he too is not corrupt, this MSB sale could not have gone up to this far. But because he stands to benefit, thus why he is on the forefront. If all these matchonas did not make money during their hey days in diaspora, they should not be allowed to strip our country of our national assets. Thunthu lose naumo mukuonekela dada Goodal Gondwe, mukujikhwezgelachi soni? You are a disgrace to all good and right thinking Malawians, and Tumbukas in particular

  31. Okonda Amayi says:

    I understand Ben Phiri is involved in this sale. Its a partnership with Thom Mpinganjira. Malawians do not sleep. Mabungwe muli akuti.

  32. OLEMERA AZINGO LEMELABE,OSAUKA AZINGO SAUKABE.

    BWEZERA MA BAKI MUMIDZI—– MAKANJILA, CHILINDA, CHIPOKA, BANDAWE,NGALA, CHIZUMULU, LIKOMA, USISYA NDI MALO ENA, MUNTHU AKULANDLA MK10,000.00, AKUYEDA KUPITA NDI KUBWERA KULIPIRA MK7,000.00 AKUKHALA NDI MK3,000.00.OSADYA KUGONA MU TOILET, CHITSONI KU MALAWI

  33. Gule Wa Mkulu says:

    Please don’t sell this bank period

  34. A WORD TO THE STATE PRESDENT OF THIS MALAWI – PETER MUTHALIKA.
    Don’t do regratable selling of MBS. So much has been said and you have heard it. Dont put yourself in psychological trauma post going againest the will of more Malawians.
    Avoid hypertension, stroke and sudden death post psychological trauma caused by friends and afew others.

  35. che balloteli says:

    And what are we gonna do as malawians? What u see here is a modernization of cashgate (bank gate) malawi tiyeni tichitepo kathu for our brothers and sisters

  36. Joseph Banda says:

    The well intended article is foolishly written by a person who does not know company law, and how businesses are run. It is the same as when a person is sick and wants a donation of a kidney and you waste time discussing how he was bewitched or how a his neighbor does not like him. The solution is get someone willing to donate the kidney. Pray that the process of operation gets well. You seem as you do not know the real figures required to save the company. As typical myopic Malawian you are busy painting a bad picture on the innocent officials. Why? I know which tribe you are coming from. ALWAYS HATING AND POSING AS YOU KNOW EVERYTHING!How do you advise that a new bank for development be postponed for the sake of saving MSB? Is you head working and which school did you go to? Recapitalization yes but let us get other people who are willing to take risks do so. You point out that govt should spend money on this and later on put it on the stock exchange which obviously is the same as selling the shares now. But this will not guarantee of success and the return of government funds. Please let us advise on issues that we understand. TICK TO EDITING ARTICLES WRITTEN BY PEOPLE WHO KNOW. DO NOT ORIGINATE SUBJECTS YOU ARE NOT IN KNOW. Mind you the people who want to take up the 75% shares of MSB are taking huge risks. Their money could just sink and they will not blame any body. You think as these people are just getting this for free. What waste of a Malawian writer, contributing nonsense!

    1. ndebele says:

      Why the lomwes only. What about mulli brothers debts. Why have they agreed to take risks. They know there is profit in it. There is no such thing as taking risk there. No one puts his money where he knows it will not grow. They know that there is business in that. Where have you seen some one buying a bank at 800 million.

    2. kyula says:

      Of all who have commented here u are the least knowlegeable. Mulli defaulted repayment of K5billion, a cousin of Mulli who is CEO fails (obviously) to recover the loan and advises another cousin of Mulli who is governor of reserve bank to declare MSB non Basel ii compliant. The same CEO goes to Mulli’s half brother and advises him to bid to buy the bank. It is a circus, full stop!

  37. zilipati? says:

    OSAGULITSA!

  38. Kenkkk says:

    The opposition and csos, please galvanize people to start demonstrations. Msb is just like any other statutory body, the govt has no direct day to day management. It is like an NGO. It runs like any other business, it is not run like a govt dept or ministry. So the govt may own msb but it is run like a private company. The excuse that the govt should not run a business is therefore stupid and untenable.

    Yes privatization is good in certain circumstances but privatization for the sake of privatization is not good, it is pure negligence and incompetence. Msb sale should be stopped.

    DPP is back to what it does best, thieving and blatant corruption.

  39. Nkasai says:

    Day light robbery!komatu anthu akatopa saopa chipolopolo .Learn from Mubarak !A Mtambo ,Trapence ndi anzanu ishosheni tili bambuyo panu! Tikulila ndege yathu ndiye misonzi siinaume mwayamba inanso ?NAC mwadya siinakukwaneni? ?Ma MP akapitiliza move motion to impeach the president !Ife akumudzi eni bank tikuti toto kugulisa !!Tengani misonkho yathu muthandize bank yathuyo !zifunseni JB ali kuti?

  40. Wagona nkhule waliwa says:

    Comment: nkhani zabwino ngat izi muzizilembanso mchichewa kut wandu waku muzi monga kwa sakaza ku mzedi ku blantyre, kwa njombwa ku kasungu, ku chinunkha ku chitipa, nawo azimva munena inuzi. chizungu ndi chozungulira sitikatomva enafe

  41. Wagona nkhule waliwa says:

    Comment: Kodi mtundu omwe mukatounena inu kuti ufuna ugule MSB ndiye utinso? Mukunena wanga wachilomwe kapena wa Goodal Gondwe wachitumbuka?

    Tiyeni tipange ma demostration mu mseu kut asagulise bankiyi.

    Mulli abweze ngongole.

  42. Chabecheker says:

    Msb has been poting profits for the past continous 6 years:why sell a ptofit going concern now?

  43. pwepwete says:

    FDH is alleged to be funded by Old mutual who happens to pension managers. Suppose FDH goes under how will old mutual manage or pay the retired guys❓ The sale is indeed polical. Going to Marka in Nsanje Nthalire Kunenekude and kapiliri in Mchinji you will learn that govern employees all of them get their salaries thru this bank with its wide network. Please lets not burry our heads in the sand and start thinking thru the anus. DONT SALE THE BANK BECOZ U WANT PERSONAL GAINS.

  44. Munthu wa Mulungu says:

    Malawians, wake up. This day light robbery should not take place. CSOs, please mobilise the people to stand up for their right to soft financial services through MSB.

  45. Patriot says:

    Very Good Analysis.
    Excellent
    Alomwe…..eish, mtundu uwu uzabweretsa nkhondo mdziko muno if we are not carefull.
    They are so EVIL.

  46. david missi says:

    To my understanding the sale of MSb bank was open tender by PPP why did others not applied government is not supposed to run bussines but to provide services whose resources are collected from private sector a model done world over which IMF and World recommends keeping these assets is against the will of malawians as they rejected MCP one party selfish ideology to democracy in 1993 through a vote of no confidence let’s see on this as wellmy fellow countrycountrymen

    1. 2 TAMBALA says:

      @ David missi
      Tamasulila wekha m’mchichewa kuti zinbveke bwino bwino chifukwa mwana wanga akundibvutitsa kuti ine ndimumasulile

    2. truth says:

      The other alternative is to invite the public buy shares which can easily raise the needed capital.

  47. tuvitwana says:

    Goodal , a shame to all northerners. Ur a coward son of a former stooge. Ur an opportunist. But look at ur age, u will PACK shortly, what will b ur LEGACY? Food 4 thought. Nakuphalira ine

    1. Legacy says:

      I wish people opened their eyes!!

      We compare ourselves to Tanzania,Mozambique Rwanda etc and cry that we seem not to move forward, and yet the person that advised these countries what to do to get out of their mess was Goodall Gondwe. They listened and tried his way and it worked.

      During Bingus time, he was doing the same, until Khumbo, and Joyce Banda, told Bingu that the people of the north are saying that their president is Gondwe, hence Muthalikas frame up of Gondwe on the fertilizer issue and issue which they both agreed on.

      How long did it take for Gondwe to control the Kwacha? If you let him do his job, this country could transform within the next 4 years.

      Book economics, does not work. Gondwe has done it in real life with real countries, that are now prosperous. Gondwe can go to many African countries and he will be welcome by the presidents of those countries because of “Ntchoto zamanja zache”

      Go to Mzimba North now, where he was MP, they are crying for him, and apologising for not re-electing him, but like everything else in Malawi we realise when it is too late.

      1. chikoya says:

        Boza ilo, who is crying for gudo? panji mbawuso? ise cha!! we dont want gudo in mz north.

  48. nganga bulawayo says:

    This is an informative, clear, balanced and sober analysis. Spa tsopano ndanvetsetsa the issues surrounding msb bank sale. Koma anthu amenewa tivutikana nao. They are back in town to steal with vengeance. Osati chitukuko ayi. A Malawi tulo. We should not allow this sale to proceed. Koma mbava zimenezi Kaya titani nazo Kaya?

  49. Alfred Munduwabo says:

    Mbava

  50. one malawi one people says:

    bank isagulitsidwe….. muli abweze ndalama and the bank shud move on……ngati alibe he shud b forced to borrow from elsewhere….akukanika kubweza bwanji? amabwerekera munthu wina kapena…oti pano kulibeko?….and boma likufuna kukhululuka bwanji?…is it already a bad debt? and if its a bad debt who is supposed to write off? gvt or MSB management?…..MPs pliz don’t sleep on this issue, this is not political interference, the bank belongs to the pple, its a public bank, a public asset….MPs represent the pple, & its clear Malawians r saying no to the sale, pliz MPs find the right means to block this, muli abweze ndalama this is greed, otherwize the people shud turn against his businesses coz this iz a crime against the pple…..sitidya pakhomo pa munthu we work usiku ndi usana kuti tipeze tochepa timapeza so y shud a few pple steal wat rightfully belongs to us all?…azinjoya ife tikuvutika? azitilemba ntchito nkumatitukwanna chuma chili chathu chomwe?…that’s unfair…iyi yokha iyi I can’t support! Goodall Gondwe, how can u stoop so low? kukhulupirika konse kuja kunatha? akutani kodi alomwewa? …God is watching tiona kuti atawine ndani at the end… akubanu kapena aMalawi ana a Mulungu mukuwaberawa….go on let’s see who wins….a satana inu.

  51. Bertha says:

    Parliament should stop this nonsense.

  52. M'doko says:

    Pakuva kwanga wakula ndi umbanda pongwiritsa ntchito udindo kapena kuti amene adadzipatsa ulam urilo boma lawakanika?

  53. akulu says:

    Well analysed and it make sense. If they sell the bank then we will tell people to close all accounts in fdh and msb

  54. Geoma says:

    You mean of all the business pple we have in Malawi, its only FDH which showed interest to buy MSB? Honestly, i dont understand this….. Is this different to what happened with our Jet? Next Govt shall reveiw this!!!!

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