Malawi statehouse in a statement made available to the Maravi Post states, His Excellency the State President, Professor Arthur Peter Mutharika, after listening to the public debate and, after balancing all matters surrounding the proposed sale of the Malawi Savings Bank, the President, based on powers conferred on him by the Constitution of the Republic of Malawi, has decided that the Malawi Government should sell part of its shares in Malawi Savings Bank.
In view of this decision, the Government shall proceed to sell seventy-five percent (75%) of its shares to the winning bidder and reserve the remaining twenty-five percent (25%) for the public.
The general public is, therefore, assured that the sale of the Government shares in MSB shall not, in any way, result in closures of any branches currently operating through-out the country.
MCP spokeswoman Dr Jessie Kabwila who is also, Salima North-West MP is likely going to raise hell.
Peter Mutharika had postponed the sale before the Malawi budget passage. It now appears that this was simply done to trick the opposition to pass the budget and once that was achieved he went ahead with the questionable sale of the Bank and the fate of its toxic loans now remain in the air.
