October 26, 2021

FDH Bank under siege – owner to lose shares

First Discount Bank [FDH], the only bank in Malawi owned by a Malawian business tycoon, is under siege following the conviction and sentencing of its founder Dr. Thomson Mpinganjira to 9 years imprisonment with hard labour for attempting to bribe the Constitutional court judges with the aim to turn the May, 2019 Presidential Elections Case in favor of former President Professor Arthur Peter Mutharika, DPP and Malawi Electoral Commission [MEC].

Media reports are indicating that Dr. Mpinganjira risks losing ownership of the FDH Bank because the Financial Laws do not allow a criminal convict to be part and parcel of running a financial institution and this will make him to lose shares, being the major shareholder of FDH Bank.

FDH Bank owner, Dr. Thomson Mpinganjira…to lose shares amidst his 9 year jail term…

Reserve Bank of Malawi [RBM] Governor, Dr. Wilson Banda recently told a local Television station in Malawi that the Central bank had a meeting with Board members of FDH Bank on Dr. Mpinganjira’s 9-year jail sentence in view of the financial laws which is requiring FDH Bank to issue a public statement on the same.
Other alleged reports in circulation are indicating that the FDH Bank is to receive new orders which will pave way for a re-born of the former People’s bank, Malawi Savings Bank [MSB] which the former DPP administration sold to FDH regardless of public protests over the sale price.

A concerned citizen from the North based in the Republic of South Africa, Pastor Charles Ben Longwe, has alleged that the Tonse Alliance government wants to seize FDH Bank by first convicting and sentencing Dr. Thomson Mpinganjira to prison which was done deliberately and that there are many cases lined up against the FDH Bank.

FDH bank is where government funds are kept, reminding Malawians that all the reported cash gates and looting of public funds and Account Number One, were through this bank.

Pastor Longwe alleged that the next target to be arrested is Mulhako wa Alhomwe chairperson and businessman Leston Mulli,stating that the Tonse Alliance government is targeting those who have potential to be funding the DPP so that the party is deformed and buried with no chance of resurrection.

He said well-meaning Malawians are aware of these deliberate arrests on senior DPP members and very soon demonstrations will be held in the country. One of the reasons for holding demonstrations is the conviction and sentencing of Dr. Thomson Mpinganjira, to serve a-9 year jail term at Chichiri Prison, who was supporting orphaned and vulnerable children and the elderly, all these people are now dead while alive as government does not support them.

“…Even Dr. Lazarus McCarthy Chakwera and Dr. Saulosi Klaus Chilima used to go to Dr. Mpinganjira to pocket MK50 million -MK100 million cash to support them in their campaign trails yet they have forgotten that they were once in need and now they want to seize FDH Bank…,” alleged Pastor Longwe.

The citizen said very soon, there will be a new democratic revolution in Malawi as some areas and districts will be declared a no-go zone for the MCP. MCP base will be Lilongwe, Dowa and Mchinji saying this will be done because President Dr. Lazarus Chakwera has proved not to love other groups of people.

By Vincent Gunde

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