Breaking News:

Just In

MSB NEW MANAGEMENT ANNOUNCES NEW MEASURES TO RESUSCITATE THE BANK

1

image

 

 

 

 

 

Malawi Savings Bank(MSB) has announced plans to inject MK 3.2 billion for the bank to achieve the requirements of the Basel 2.

In an email interview on the future of MSB, Head of Marketing at Financial Holdings Limited, Sobhuza made it clear that there will be ernomous investment at the bank.

Ngwenya,said there will
There will be more investment in the process of recapitalizing the bank.

“As you might be aware, MSB has now moved from government control to private sector control. One of the major changes will be the speed of decision making. Decision that would take long for government as the only shareholder, will now be taken instantly because of the private sector control.” Said Ngwenya.

Ngwenya said MSB joins the FDH Family which has seen tremendous growth since inception in 2008.

This shows that there is definitely some things that we are doing right for our customers.

“We will share the same expertise with our new family member so that we can provide exceptional customer experiences for current and new customers of MSB.”

Ngwenya promised that FDH will not close any branches at the moment.

“MSB will continue to operate all its outlets as they are now. In the process of integration, we have drawn up a plan that will ensure that we use all our current outlets either in their existing form or to offer new services to our customers.
How many workers are you going to fire so that you can have manageable figure.”

Asked how many members of staff will be fired, Ngwenya said at the moment, the company will not kick anyone merely because of this transaction.

Government sold MSB to FDH in a controversial manner.

Members of the Civil Society have been holding demonstrations asking government to reverse the sale but government clinched the deal.

Related Posts

Leave a reply

Your email address will not be published. Required fields are marked *

  • Saulos Chilima: A masqueraded Messiah or a devil not yet known?

    Frank Kamanga Historically, in the kingdom of the blind, the one-eyed is king. This is probably why -and it is a worldwide phenomenon- desperate peoples around the globe are hanging by the slenderest of threads, putting their hope and trust in figures that either present themselves, or are being portrayed as modern-age “Messiahs”, vowing to…

  • Mrs Mia inspires DPP senior officials

    In a leaked whatsapp conversation among DPP gurus the blue officials said they wish Mrs Abida Mia who has a hardworking spirit was in their team. The DPP officials which include; Ben Phiri, Ngeme Kalilani and Nicholas Dausi just to mention a few said Abida Mia is an insiration to all women in politics. One…

  • FLASH BACK: Kaliati and cadets strip Eastern Region Chief naked, dethrone him

    By Nyasa Times Published: June 6, 2011 Chief Mponda of Nsamala Village in Balaka district, who claim to have been paraded naked by Democratic Progressive Party DPP) Youth Cadets last month, has cried foul over the news that he has been stripped off his chieftaincy. Mponda was beaten up, rubbed down with buffalo beans (chitedze)…

  • DPP, UTM wrestle over corruption evidence

    Two of Malawi’s political parties; the United Transformation Party (UTM) and the Democratic Progressive Party (DPP) are pointing fingers at each other over corruption allegations. DPP’s Nicholas Dausi said that Chilima’s secrets will be revealed if he continues to talk ill about the DPP. “He has skeletons in his wardrobe, but he is busy talking…

  • Buleya Lule was electrocuted, assaulted

    Malawi’s Forensic Pathologist and Clinical Forensic Physician, Charles Dzamalala has released results of the medical investigation on the death of Buleya Lule, a suspect in the abduction of Dedza boy born with albinism. Buleya Lule died suddenly on Wednesday, 21st February 2019 while in Police custody after being arrested when he was being suspected to…

  • JB tells govt to speak out on Buleya

    The former President of the country, Joyce Banda has urged government to speak out on how a susppect who was accused of taking a role in the abduction of people living with albinism  died in Police custody. The former President said Malawians need answers on Buleyas death. “This man who died mysteriously in the hands…

css.php