FDH moves in to calm anxious clients over Mpinganjira arrest in bribery saga

FDH Financial Holdings Limited officials have moved in to calm anxious clients and the financial market over the arrest of its group chief executive officer Thomson Mpinganjira in the alleged judge bribery attempt in the presidential election nullification petition case.

Mpinganjira, who is also board chairperson of Electricity Supply Corporation of Malawi (Escom), was arrested on Wednesday on allegations that he attempted to bribe Constitutional Court judges over the election case.

In a statement, FDH chairman Noel Mkulichi says FDH subsidiaries namely  FDH Bank, FDH Money Bureau and First Discount House are not affected by the arrest of Mpinganjira.

“…we would like to assure all stakeholders that the institution operates in a highly regulated environment and remains well capitalised,” says Mkulichi.

He says the business operations of the subsidiaries are fully functional.

Mpinganjira was arrested on Wednesday and released controversially at midnight.

The High Court is reviewing circumstances leading to the release of the business mogul.