Former DPP Publicist Brown Mpinganjira alleges Tonse Govt want to Snatch MSB from the Buyer

Former DPP Spokesperson, Brown Mpinganjira is alleging that the Tonse Government wants to take back the Malawi Savings Bank(MBS) from the hands of the buyer, the First Discount House (FDH).

This is what Mpinganjira has written on his Facebook wall: “TO PUT IT ON RECORD; – MALAWI SAVINGS BANK ( MSB) WAS LEGALLY BOUGHT BY FDH BANK. ANY ATTEMPT BY MCP GOVERNMENT TO TAKE IT OVER IS AN UNLAWFUL ACT AIMED AT DESTROYING THE BANK OF THE LEGITIMATE INDIGENOUS BUSINESS FAMILY, THE MPINGANJIRAS.”

In July 2015 under DPP’s Peter Mutharika’s leadership, the Malawi Government sold the state-owned Malawi Saving bank to FDH Financial Holding Limited whose chief executive officer was estranged Business Tycoon Thom Mpinganjira at a staggering price of K9.5Bn (U$D2.1Million)

Mutharika said in a statement that the government’s decision to sell the bank came after listening to the public debate and was based on powers conferred on him by the constitution.

Meanwhile, the Tonse Administration is yet to comment on the matter.