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Information sourced by FaceofMalawi indicates that the Democratic Progressive Party (DPP) government has finally sold the state owned Malawi Savings Bank (MSB) despite resistance from Civil Society Organizations (CSOs) and Opposition political parties.
The bank is said to have been sold to First Discount House (FDH) which is owned by Thom Mpinganjira at K5 billion.
One of the human rights activists in the country Billy Mayaya confirmed of the development in an interview with one of the privately owned radio [Zodiak Broadcasting Station].
In his speech, Mayaya expressed disappointment on the move taken by government, describing the move as a day light robbery.
On his part, Minister of Finance and Economic Development Spokesperson Nations Msowoya trashed the reports, saying its mere rumors.
MSB sale received heavy criticisms from all corners in the country with the opposition political parties led by Malawi Congress Party (MCP) President Dr. Lazarus Chakwera vowing to do whatever it can to make sure the bank is not sold.
The opposition also questioned the move taken by government to collect the bank’s toxic loans borrowed by some DPP bigwigs at the expense of poor Malawians.
As this was not enough, CSOs in the country staged demonstrations in the capital Lilongwe where they presented a petition to the Speaker of Parliament Richard Msowoya to stop the sale of the state owned bank.
Reacting to the development, President Professor Arthur Mutharika suspended the sale of the bank and he urged concerned to parties on the matter to come forward and share ideas.
Meanwhile MSB sale means some Malawians will lose the jobs and others will not have access to banking services.
