Standard Bank Malawi Chief Executive Officer , Charles Mudiwa , is said to have been running the commercial bank as a personal estate, instilling fear in executive management who cannot stand up to him, Nyasa Times has learnt.
Insiders said Mudiwa, a Zimbabwean, has been reversing some decisions which were collectively made by the bank’s executive committee.
“The problem is that our boss is very close to the seat of the country’s power and anyone who does not tow his line is in trouble. So the people who are enjoying at this bank are those who are politically connected,” said our source.
“In fact he has instilled fear even in the executive management committee and no one will dare question his decisions. He has been employing people without following proper procedure and influences wrong appointments,” added the source.
“The entire executive management committee of the bank is intimidated and cannot stand up to him much to the dissatisfaction of staff as they can’t complain also for fear of being victimized. Basically he is running the bank as a personal estate and only politically connected people get preference.” “There is currently a team from South Africa coming to confirm some people who have been appointed even though they are not capable and as Malawians we are being victimized in our own country,” said the source.An attempt by Nyasa Times reporter to seek Mudiwa’s comments were frustrated as his office said he could not grant an interview.