Msonda hits at DPP over sale of Malawi Savings Bank

March 24, 2015 Nyasa Times Reporter 41 Comments

Government’s decision to dispose of state controlled Malawi Savings Bank (MSB) has shown that “contact and dialogue is not part of Democratic Progressive Party (DPP) DNA,” former ruling People’s Party (PP) publicist Kenneth Msonda has said.

Msonda: Contact and dialogue is not part of DPP
Msonda: Contact and dialogue is not part of DPP

Government is selling the commercial bank which is said to be weighed down by loans and is presently struggling to keep grip. According to the Ministry of Finance, MSB requires a US$48.3 million (MWK 23.7 billion) in capital and liquidity by June to satisfy Basel II financial and regulatory requirements or risk being struck off by Reserve Bank of Malawi.

But Msonda alleged that the sale of the bank is being shrouded by a lot of enigmatic strings because “DPP top officials got huge loans from MSB and they are not servicing” them.

“That is why they want to dispose of the bank to write off these loans,” said Msonda.

He blamed the DPP for rendering a deaf ear to the opposition as regards the sale of the bank.

“DPP should tread carefully before disposing of the bank because this is an institution that has been helping Malawians across the country economically.”

He said it was unfortunate that DPP was operating in the bank’s operations.

“When we were in government they [MSB] made a number of proposals to enable them work effectively and one of the proposals was that there shouldn’t political interference in the bank’s operations,” he said.

He called reports that the idea to sell MSB is PP brainchild as “DPP propaganda.”

He added: “We never harboured intentions to sell of MSB. Our policy was, in fact, to depoliticize MSB and that all politicians who owed the bank should service their loans so that MSB could be on its feet again.”

Finance Minister Goodall Gondwe trashed Msonda’s remarks that government was disposing of MSB because some of its politburo “were failing to service huge loans they owe the bank.” Gondwe said there was nothing like shielding anyone.

However, Gondwe, admitted there were some people owing the bank an estimate of K5 billion accrued for some years, and that “MSB hasn’t been able to claim the money.”

Gondwe revealed that a private legal firm was being hired, on behalf of government, to recover the loans.

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41 replies on “Msonda hits at DPP over sale of Malawi Savings Bank”

  1. Unconfirmed reports we hear that many retired Presidents outside Malawi are enjoying the woman a lot and of course in exchange. Shame on Joice Mtila from Likoma. Ex male Presidents abroad kusambamo zedi.

  2. But according to the type of English inhere being claimed and authored by Msonda, Somebody had drafted for him. As far as I know him iyeyu ndi mai wake School yeni yeni ndi ZERO. As for JOYISI Banda School PANGALI MAZENGO.When Joyisi is abroad and addressed as Dr. outsiders think that its real qualification No!!!!! ZANZI!! MANYAZI KUTHAWA. If you see that a chicken runs away from KAMTEMA LEAVING ITS ANAPIYE ALONE JUST KNOW THAT NKHUKUYO NDI CHISILU.

  3. Msonda when is your fugitive friend JB coming back to Malawi?Anzako achina Solsten Gwengwe akungolima ku Mchinji ndi kuyendetsa school.PP inatha ngati makatani but u r sticking to it.You are such wonderful loyal boy for sticking to PP in thick and thin.

  9. Comment Whom did you hold dialogue with the time you were selling that presidential jet?? Or disyribution of nkhumba, abakha, mmemo, shoes etc?? Did you even consult National Disaster department?? Aren’t you politicians just the same???

  10. Lets talk chilungamo here, Mr. Msonda should stop making noise on MSB because records are clear PP initiated the entire program in 2013 and this evil DPP is just implementing what another evil party initiated. What should be known is that two evils doesnt make a right, worse still those who doesnt fear God will face the consequences no matter how politically/financially strong they are, its just a matter of time. God is always in control

  11. msonda bolatu kugulitsa bankiyi chifukwa amene akugulawo will still operate the bank in the country nanga kandege kaja olo ndalama zake tinaziona? Iiiiiih ndinaiwala paja ndiwe wa misala, sorry!

  12. Msonda is right. Imwe a Goodall tulutsani list ya anthu amene Ali ndi ma loans ku MSB. Ena mwa Iwo ndi away: APM, Mulli, Mwanamveka, Masangwi etc

  14. Nsonda Kumamvetsetsa bwinobwino bank ikufunika ndalama zambirimbiri kuti iyende ndiye nsonda usakhale ngati ndiwe wa nzeru.pa nthawi boma la yoyce amagulitsa ndege iwe umaikira kumbuyo chifukwa unali momwemo lero uli kunja kwa boma ukubum .kuti msb igwe chifukwa cha boma la joyce amangotengako ndalama zochitisira kampeni zambirimbiri ndie mmati zibwerera bwanji?

  15. Si kanundu galu iwe kanundu amene akufuna kutsekereza ngongole zawo ku Bank, KUBA NDI MZATI WA DPP. KUBISA K92 BN.

  18. Kodi Mulli wabweza ndalama ababa Ku bank imenei zicha!!? Ndi omwe akupangisa bank imenei kulowa pansi.

  23. Mr Msonda mwakalamba sorry kuti munakhala just two years M’boma so simungadziwe za Boma work together with MCP to make strong opposition osati zanokhazi ayi you will be swallowed by DPP kkkkkkkkkkkkk

  25. Munthu nthawi yako ikadutsa kumavomereza, agogo a Goodal, kapumuleni mungafere pa ntchito. Ma state funeral amatopetsa

  26. Msonda is very right. Let’s not go political here. We know some DPP heavy weights owing the bank bilions. Don’t sale the bank please, just pay back the billions.

  27. Comment: a msonda msatero pot chilipa anzanu. suja inu mdagulisa ndege chomwe amalawife tidasangalala kut ndlamazo zithandiza kugula chimanga, mankhwala koma inu ndi JB wanu mdakagula masilipasi ovala a army? a total miss use of the money.

    lnu chomwe munganene sichomveka. siyilani a MCP kuti adziyankhura osati inuyo mwamva?

    bank ya MSB siyoyenela kugulisidwa. bwanji mungopempha OSWARD LUTEPO ayithandize bankiyi ndi 20 billion kuti isagulisidwe?

    Auzeni a nkhoma synod akapemphe ndlamazo kwa Lutepo poti ndamene amatha zopemphapempha

  30. Gondwe yu are sellin the bank bcz pple failed to back their loans….publish the names of pple awing this bank including yu….pay first b4 sellin

  31. Nawenso Goodal if you know that 5bilion is with other pple, now who are they? May you mention them one by one and how much? May those pple be account for first b4 the bank goes on sale? Had it been this huge amount was with the bank, could it not assist in runing some of its affairs? Goodal ngati mwatha mano musaswe Phale ayi, ndidziko ili!!!!

  36. Legal team to be hired kuti itani pamene mwachiwondetsa kale chinthucho simumva yu do hv deaf ear inu a DPP

  39. Mr Nsonda once this bank is sold it will not stop being a bank or start selling oranges. the only way to stop political interference is to remove government from it. I was have complained if it was press corporation getting it under Mathews Chikaonda but Mpinganjila is shrewd and will make even better. we should be complaining if Inde bank will be taken by NBM because of Chikaonda . He will finish it just like MTL and other press companies. Chikaonda is one stupid economist. Destroyer of companies

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