Malawi Savings Bank (MSB) staffers have threatened to resort to industrial action by Monday next week should their Chief Executive Officer (CEO), Ian Bonongwe, not step down. The employees of the struggling government wholly owned bank, mostly junior staff members, have in writing accused Bonongwe of “incompetence.” According to the employees, Bonongwe is the cause for the […]
Blantyre-based businessman, Richard Chaponda has dragged to court FDH Bank for breaching loan contract and the High Court has since reinstated an injunction that was vacated last month restraining the commercial bank from confiscating and selling property used as surety in the loan deal amounting to K224.3 million. On Thursday (12th March, 2015) Justice Rowland Mbvundula reinstated […]
The sale of the state-owned Malawi Savings Bank (MSB) will still go ahead despite disapproval from parliament. Public Private Partnership Commission (PPPC) has confirmed. The government’s divestiture agency kicked off tenders’ process on Monday requesting strategic investors to buy a controlling stake in MSB in which the government owns 100 percent of its shares. According […]
The landscape of e-banking services in Malawi is poised to take a major shift as FDH Bank and Airtel Money have entered into a partnership that will combine their strengths to offer mobile money services to Malawians. Speaking at the breakfast launch in Blantyre Friday, the two companies promised to combine their strengths to provide […]
Some entrepreneurs and business students say local financial company, FDH Financial Holdings is showing the way for many aspiring players in the business sector that Malawian are capable of running complicated businesses and achieve profitability level. The FDH Group comprise FDH Stockbrokers, First Discount House and FDH Bank respectively dealing in buying and selling shares […]
Chancellor College (Chanco) students, a constituent college of the University of Malawi (UNIMA) have asked government and the corporate world to take an active role in the promotion of fine arts in the country. Speaking during the Chanco Fine Art Exhibition held at the campus over the weekend, President of Chanco Fine Arts Students Association, […]
One of Malawi’s major banks, FDH, has invested US$4.8m (about K1.3 billion) towards expansion of the bank’s operations. The funds have been raised by the bank’s shareholders, FDH Financial Holdings Limited, according to a press statement. “The Board of Directors of FDH Bank Limited is pleased to announce the injection of US$4.8m into FDH Bank […]
The Auction Holdings Commodities Exchange (AHCX) says it will continue with its drive to assist farmers earn more from income from their harvests by making available all information regarding operations of the market. AHCX Operations Manager Davis Manyenje said this in an interview shortly after the commodities market announced its partnership with FDH Bank. “We […]
Former Mighty Wanderers player and seasoned banker, Philip Madinga has been appointed as the new Managing Director of FDH Bank Limited effective July 4, 2013. FDH Bank Limited is a subsidiary of FDH Financial Holdings Limited which is owned by business magnate Thom Mpinganjira. Prior to joining the FDH family, Madinga worked with Standard Bank […]
Four people have been arrested in connection with a failed attempt to rob FDH Bank in Zomba of money amounting to K4 million . It was business as usual in the morning hours of Thursday when a Toyota Corolla registration number LA 7444 with four people aboard arrived and parked outside the bank’s premises within the […]
A comparative analysis chart by the Malawi Stock Exchange for the 2012 results posted by all the 11 commercial banks in the country shows that National Bank of Malawi remains the biggest bank by assets at K129.8 billion. Through the asset base lines, National Bank is followed by Standard Bank at K118.1 billion then NBS […]
Banking Group, AfrAsia Kingdom Zimbabwe Limited, formerly Kingdom Financial Holdings Limited, could claim the full value of its shares in the disposal of a stake in a Malawian financial institution after winning an appeal against an arbitrator. The High Court in Blantyre set aside an arbitrator’s ruling against AfrAsia, citing bias by the arbitrator who […]
FDH bank has appointed Malawi’s celebrated fashion designer Lilly Alfonso as its brand ambassador, a newspaper reported on Thursday. The bank’s Marketing Officer Kamihela Ng’ombe told The Nation that Alfonso is a fashion designer who has evolved over a number of years to come up with one of the top fashion labels in Malawi, LA […]
One of the leading banks in the country, FDH Bank will open its eighth branch in Zomba District on October 27, next week. FDH Bank, Group Chief Executive Officer, Thomson Mpinganjira said the opening of the new branch is in line with the bank’s vision of trying to reach every angle of the country. Mpinganjira […]
There was drama Monday morning along the Victoria Avenue Street in the city of Blantyre when three men, armed to teeth, snatched a bag containing money amounting to K3.8 million belonging to owner of Sachas bakery who was just a yard away from entering the doors of FDH bank. The robbers, according to eyewitness who […]
The FDH Bank, a subsidiary of FDH Financial Holding Limited has given assorted medical equipment valued at K700, 000 to Mangochi District Hospital The equipment comprised an autoclave used in the operating theatre, suction machine and lamps for the maternity ward, infusion pumps and ventilators among other items. FDH Bank Managing Director, Jimmy Kayuni, said […]
Zimbabwe’s Kingdom Financial Holdings Limited (KFHL) is disposing off its 38,15 per cent stake in FDH Financial Holdings of Malawi (FDH) after Reserve Bank of Malawi (RBM) certified KFHL unfit and to hold shares in the local group and banking institution. This is contained in documents detailing arbitration proceedings between Old Mutual Life Assurance and […]