Malawi okays street protests for MSB sale: It’s ‘red army’ demo

Authorities have approved that Malawians under the banner of ‘Concerned Citizens’ can go ahead to demonstrate this Friday and petition Speaker of Parliament in Lilongwe over the impending sale of state-owned Malawi Savings Bank (MSB).

Opposition lawmakers claimed in parliament that government wants to hand over the bank to FDH Bank, owned by Thom Mpinganjira, whom MCP MP Peter Dimba described as “Mutharika’s crony, tribesman, DPP campaign financier who sits on the public reforms commission.”

The ‘Concerned Citizens’ are also against government’s move to clear toxic loans totalling K6 billion owed to the bank by private sector players.

Billy Mayaya, one of the organisers, told Nyasa Times that they have informed police and Lilongwe District Commissioner to hold the peaceful protests.

Mayaya said they will express their “anger”  describing MSB sale deal as similar to Cashgate—the systematic plunder of billions of kwacha from Treasury.

The activist said the demonstrators would gather around Area 18 Roundabout and proceed to the Capital Hotel Roundabout and make a U-turn up to the National Assembly where a petition will be read out and handed over to the Speaker, Richard Msowoya.

“From there, we shall proceed to Capital Hill to the Ministry of Finance where we shall read out another petition, which will be handed over to the Secretary to the Treasury Ronald Mangani. Thereafter, demonstrators will peacefully disperse.”

He said those taking part can wear anything red.

Mayaya said the protestors will demand that those who defaulted must repay their loans, failing which “their assets must be seized.”

Major on the list of the toxic loans, which government has taken over, is the Mulli Brothers Limited (MBL) loan, which stands at K4 969 043 316.93.

Other defaulters included Varibo Spirits—owned by Duncan Kaonga—at K397 763 522.07, KJ Transways owned by a Mr Mkumba has a K172 536 106.23 loan that has not been serviced, Ganizani Transport owned by Charles Fungula owes the bank K97 908 785.35.

MSB is owed K83 960 954.29 by Maranatha Institute of Education of Ernest Kaonga, K71 220 602.47 from Consolidated Building Contractors owned by Peter Mhone, K69 776 370.81 from CK Construction of Chester Makuwira.

The bank is also failing to collect K68 034 537.28 from Fincoop, K65 910 536.30 from K’s Investments owned by Bintony Kutsaira, K30 717 180.76 from MGI Trading of Macpharen Mpeta Phiri, K27 179 448.51 of Injena Petroleum Limited, K20 722 510.70 of Angel Wings owned by Angel Chaponda Nazombe and K12 782 074.13 of Eranive Trading for Fanny Joshua.