MALAWI SAVINGS BANK DEPUTY CEO ON FORCE LEAVE

Information sourced by FaceofMalawi indicates that Malawi Savings Bank (MSB) Deputy Chief Executive Officer Kayisi Sadala and Treasury Manager Million Hera have been sent on forced leave.

According to information at hand, the two have been sent on leave after the new management discovered that they accumulated excessive leave days that would create a huge liability if they were to stop working for the bank
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Speaking in an interview with one of the local daily papers in the country [Daily Times], FDH Financial Holdings Chief Executive Officer Thom Mpinganjira said the new management has decided to let everybody clear their leave days to reduce liabilities.

“This is abnormal and dangerous for the bank. I don’t understand how it was allowed to happen. We cannot allow it to continue like that because if one of them was to resign, it will cost us a lot of money to pay them for their unused leave days,” Mpinganjira was quoted as saying.

The sale of MSB to FDH Holdings Limited by government received criticisms from all corners in the country with the Opposition Political Parties calling for the immediate resignation of Minister of Finance Goodall Gondwe and President Professor Arthur Peter Mutharika.