Several Malawians have accused government of going after Malawians who are a backbone of the economy such as Thom Mpinganjira and Prophet Shepherd Bushiri and other Malawians of Indian origin.
The accusations come after confirmation of continued investigations into Mpinganjira’s FDH Bank.
Mpinganjira was arrested in 2020 for attempts to bribe judges and was last year sentenced to nine years in prison. However, he was released earlier this year on bail pending appeal.
Following his arrest, the businessperson stepped aside as Group Chief Executive Officer of FDH Financial Holdings Limited which is a major shareholder of FDH Bank and employs over 800 people. His shares in the bank came under scrutiny last year after his conviction as laws do not allow convicts to own banks.
Yesterday it emerged that Malawi Government wants to institute civil forfeiture proceedings against FDH Bank for financial crimes and pocketing proceeds of a crime.
Director of Public Prosecution, Steven Kayuni said in a letter dated 25 February 2025 that criminal and financial investigations have established that FDH Bank received over 10 billion Malawi Kwacha payments from the Central Bank. The payment, argues Kayuni, were made without any justification and without following duly laid down procedures.
Malawians have since questioned government over the probe focusing on Mpinganjira, saying the government should be going after people who have stealing billons of kwacha for many years.
“In Malawi, native successful businessmen are at constant and endless prosecutions. Jealousy,” said a commenter on a Malawi24 story about the investigations against FDH.
“That’s how this regime is losing ground. Busy targeting an individual than developing the country,” said another commenter.
Many defended Mpinganjira due to his philanthropic activities which, they argued, have seen many people in Malawi getting assisted.
“Please leave Thom Mpinganjira and his FDH Bank alone. Can’t you see how this guy is helping poor Malawians? To err is human and I’m sure he knows his mistake. Let’s stop this nonsense of witchhunting and work together for the betterments of our nation. Mpinganjira is a soft hearted man and as a nation we are benefiting a lot from his bank. squeezing him hard will end up paralyzing our economy,” said Chiyembekezo Awali.
“FDH is one of the financial institutions doing great things! Their corporate social responsibility is felt by so many Malawians,” another social media user said.