Email a copy of 'Off the wall of Sunduzwayo Madise: Old Mutual owns part of FDH Bank the new owners of Malawi Savings Bank' to a friend
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Email a copy of 'Off the wall of Sunduzwayo Madise: Old Mutual owns part of FDH Bank the new owners of Malawi Savings Bank' to a friend
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Malawi Police on Thursday arrested former ruling People’s Party (PP) publicist, Ken Msonda and S&I Carrier truck driver for being involved in...
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No where to complain popeza anachita kubera,why selling the institution that is making profits at some point?Osangochotsa osololawo bwanji,mwatikonda mwamva.
The chairman of Old Mutual board is Jimmy Lipunga who happens to be the CEO of PPC the arm of government selling MSB to Old Mutual owned FDH. See the conflict of interest here? Again Old Mutual has shares in Nedbank and National Bank through their shares in Press Corporation. This means Old Mutual has now an interest in five banks namely FDH, MSB, Nedbank, National Bank and now Indebank. Malawians this is illegal. Even the CEO of the commission is acting illegally because as chairman of Old Mutual board, he should not have presided over this sale. Malawians I… Read more »
enjoying this drama.
That statement by government is very misleading and is in no way correct. Just because you have shares in Old Mutual (OML) does not mean you are participating in the ‘ownership or management’ of its investments such as the one in FDH Bank. For example, there is no discussion of who should represent OML in the boards of companies that it has interests in at their Annual General Meeting. That government statement was aimed at appeasing Malawians but has failed miserably. Malawians will only participate when the 25% shares of MSB are listed on the Malawi Stock Exchange within or… Read more »
whatever the case,peter and Goodall are devils malawi will ever regret.Yes you heard me wright.
the logic is that Old Mutual uses pension money which is the pubic’s money for its investements. hence the public has an indirect investment in this transaction through Old Mutual. You need to look at Old Mutual as the entity that it is: a pension fund.
FDH sale …..
Pitala will pay K7bn the balance will be paid by Thom and Jerry
Nyasatimes mumakondera sunduzwayoyu. Nanga apa pali chimene wanena chanzeru choti mutitayise nthawi kuwerenga? mxiiieww!
Mr Nyirongo may be right on the shareholding but this changes now because the cash to buy MSB came from Old Mutual. I think then practically Old Mutual is now the majority shareholder in FDH Bank. Considering Nedbank too then this transaction is very illegal.