Mutharika calls for open forum to discuss Malawi Savings Bank

Malawi government has organised “an open forum” on Monday 22 June, 2015 in Lilongwe where a cross section of people have been put on the attendance list to discuss the Malawi Savings Bank (MSB) controversial sale.

Mutharika: Open forum
Mutharika: Open forum
Malawi Savings Bank for sale only to FDH Bank of Thom Mpinganjira
Malawi Savings Bank for sale only to FDH Bank of Thom Mpinganjira

Government, the sole shareholder in MSB, has put the bank up for sale with only one preferred bidder FDH Bank of Thomson Mpinganjira.

The move to sale the bank is said to recapitalise it to meet regulatory requirements in terms of capital in line with Basel II but critics have interpreted it as a bail-out package for politically linked businesses.

Under pressure from opposition, civil society and the media, President Peter Mutharika ordered a suspension of the sale of MSB to allow more public debate on the issue.

A letter dated June 16 2015 signed by Chief Secretary to the government George Mkondiwa, indicates that President Mutharika wishes to accommodate a healthy and constructive dialogue on the MSB recapitalisation.

“Government has organised an open forum involving distinguished technocrats and specialists to soberly consider this important national issue,” reads the invitation letter to one of the civil society leaders.

The letter by Mkondiwa says Mutharika suspended the recapitalisation process following the debate on whether government should divest its interest in MSB, and that there have been strong arguments on both sides.

The wholly State-owned bank, according to the Reserve Bank of Malawi, requires at least K23 billion to meet minimum capital and liquidity levels.

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Twaniche
6 years ago

Mbendera mbendera mbendera, can u see what u have done to our mother malawi?

mona
mona
6 years ago

Waste of time don’t sell MSB let mulli and other defaulters pay back the billions they owe the bank
Iwe APM zoona ungabe 25 billion wekha ndalama imenei inakakwana kupangira capitalise MSB to meet the Basel ll requirement
You are very stupid president APM resign fast and repossess your useless green card return to USA for the mathanyula you were doing
Galu wa president mbuzi ya munthu satana wa satana
Nyapapi wa nyapaphi

mona
mona
6 years ago

Waste of time don’t sell MSB let mulli and other defaulters pay back the billions they owe the bank
Iwe APM zoona ungabe 25 billion wekha ndalama imenei inakakwana kupangira capitalise MSB to meet the Basel ll requirement
You are very stupid president APM resign fast and repossess your useless green card return to USA for the mathanyula you were doing
Galu wa president mbuzi ya munthu satana wa satana

Patriot
Patriot
6 years ago

MUSAGULITSE BANKIYI
Kodi bwanji? Samamva chichewa?
DON’T SALE THE BANK

moya
moya
6 years ago

Government mind is made up after all I us said and done they will sell it. Mulli is behind the scenes playing the buttons with peter as the spokes person.

Puludzu
Puludzu
6 years ago

This is just another way to blindfold the ignorant Malawians. Already someone has the names of those attending the discussions and adyetsedwa kale ma bans to speak in favour of selling the bank so that someone still gets away with repaying the loans. Pambuyo azizati kudzera kuzokambirana tapeza kuti bank ingogulitsidwa. Ask yourself who was doing the invitations to the discussions? Waht was the criteria? etc. Wake up

Kagiso
Kagiso
6 years ago

‘MSB sale has been suspended’

Meanwhile, the real crime of writing off their bad loans by so-called ‘promissory notes’ is swept aside talking about who or what is going to by MSB.

The government has just stolen your taxpayer money to write off bad loans made to ‘friends’ of the government. Loans the government granted itself knowing full well they were not going to be paid back. Because the money was siphoned off to their own pockets!

And here we are talking about ‘MSB sale has been suspended’ so it’s all fine and dandy!

God help us! Wake up Malawians!!

Kenkkk
Kenkkk
6 years ago

I welcome the forum but the matter has already been extensively discussed in the social media by many Malawians of all shades which could have helped the govt to make an informed decision on the matter. Will this set a precedent for all contentious issues in future to be debated in forums? The implications will be that the govt is failing to make well informed decisions and therefore lacks decisive leadership, a wavering leader. The forum shouldn’t be packed with the hand- picked people who will be mostly pro msb sale. The opposition politicians and those against the sale also… Read more »

ujeni
6 years ago

Waste of time, you mean you cant think or reason like many of us, no wonder you failed as a cabinet minister. Why have a forum to waste more tax money and time. Just tell Mulli to pay back.

Denguzman
6 years ago

Gud move APM.

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