PP demands Gondwe, Chuka to resign over Malawi Savings Bank saga

Former ruling Peoples Party (PP) has demanded immediate resignation of Finance Minister, Goodall Gondwe, Reserve Bank Governor, Charles Chuka and Malawi Savings Bank (MSB) boss, Ian Bonongwe for misleading the nation and the State President on the bank’ postponed sale.

President Peter Mutharika on Wednesday postponed the intended sale of MSB Bank calling for proper review of the process to dispose government’s interest in the financial institution.

The opposition Malawi Congress Party (MCP) welcomed the suspension of the bank sale with caution, saying this should be a legit decision to really pave way for dialogue.

However PP while welcoming the move as a commendable stand, argues that the sale transaction was supposed to be completely put off and start afresh and ”not just put on hold or suspended”.

PP spokesperson, Ken Msonda argued that the transaction was boarded on shrewdness and
corruption.

He claimed that some top DPP, government and private sector officials advocating for  the sale of MSB Bank were allegedly silent shareholders in the Consortium that wanted to buy the bank.

”We are calling upon ACB to investigate these allegations. Imaging State House through the Presidential spokesperson is not coming out clearly on the way forward.

”Presidential spokesperson told the nation that the sale has neither been suspended or cancelled but put on hold. This raises a lot of suspensions. The DPP led administration is very secretive in dealing with matters of national concern,” said Msonda.

Msonda therefore called for resignation of Minister of Finance, Goodall Gondwe, Chuka and Bonongwe, claiming that there was more behind the MSB Bank sale transaction than what the nation and President Mutharika is being told.

In a statement delivered on Wednesday by Press Secrtary Gerald Viola, Mutharika said the decision to suspend the sale was in response to numerous calls for a thorough examination of the sale.

Mutharika said government listened keenly to debates surrounding the sale and that a review shall be undertaken.

“The review will cover all the aspects of the transaction. I am therefore inviting all those who have spoken on this matter including the Members of Parliament, civil society organizations and the experts to come up with reasonable proposals covering all the aspects of the transaction so that we can map the way forward,” he said.

The President accused some political forces, from the opposition and other sectors, of being unfair in their arguments saying government’s decision on the sale is supported by the Institute of Chartered Accountants in Malawi (ICAM); the private sector; the Regulator of Banks and Financial Services as well as the donor community including the IMF, among others.

“These are professional bodies and experts on the subject” he argued.

Mutharika however pointed out that that it is imperative that Government disposes its interest in Malawi Savings Bank for the good of the National economy.