MSB, FDH employees face chop

15

Hundreds of employees at Malawi Savings Bank (MSB) and Financial Holdings Limited (FDH) bank are expected to lose their jobs following the merger of the two banks.

Malawi Savings Bank

Some employees at the bank will lose their jobs

FDH Bank Head of Marketing Sobhuza Ngwenya said in a statement on Wednesday employees from the two banks are to be fired.

“In total, approximately 250 employees from both FDH and MSB will be affected. This notwithstanding the merged bank will be among the biggest employers in the local banking sector,” reads part of the statement.

While backing the development, Ngwenya said the implementation of the redundancy program is in accordance with the labour and employment laws of Malawi and follows good labour practices.

Concurring with Ngwenya, FDH chief executive officer Thom Mpinganjira said a job cannot guaranteed to any employee at both banks.

“In matters of employment a job can never be guaranteed; it depends on performance. To guarantee a job means whether one performs or not they will keep their job,” Mpinganjira said.

Last year Malawi government sold 75 percent of its shares in MSB to FDH Holdings for K9.5 billion.

Share.

15 Comments

  1. I was surprised when they promised that nobody would lose his or her job. MSB being run by Government that time must have “unnecessary” workforce as is the case in most Government institutions. FDH new this from the word go and was just trying to cheat us by saying all jobs were safe. This is too bad.

  2. How can I explain this testimony to the public about a great man who help me out in serious illness I have HIV AID for good 3year and I was almost going to the end of my life due to the way my skin look like all I have in my mind is let me just give up because life is not interesting to me any longer but I just pray for God every day to accept my soul when ever I’m gone lucky to me my kids brother run to me that he found a doctor in the internet who can cure HIV online he help me out on everything, the doctor ask for my details, so he can prepare the herbal medicine for me from his temple after all he ask is done one week later I started getting more stronger my blood start flow normally for 4 to 5 days I start getting Wight before 6 days my body start developing my skin start coming up after 8 days which he told me that i will be completely healed, I went for HIV test and I was tested negative I’m so happy that I can say I’m not a HIV patient if you have HIV/AID or any sickness he can still help you in getting your ex-back to you please contact him via his email: [email protected], or whatsapp him on +2348143143878.

  3. Understandable private banks they don’t keep everything, they keep useful things only, MSB some of their employees were just standing the whole day doing nothing, that was not good for business and we can’t blame the government for selling MSB, sometimes is what the government doing for us and what we do for the government

  4. Sad news to an economy dominated by unemployment. Very bad indeed, but all this is because of an irresponsible government of Peter Muthalika. Many people opposed the merger ,some even demonstrated, the man went ahead to sell MSB. We don’t need such leaders, they don’t bring anything good but bring more misery to the already desperate citizens.