Oct 18, 2017 Last Updated 10:50 AM, Oct 18, 2017
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FDH, Treasury Mum On MSB Deal Discussions

Officials remain mum on the acquisition Officials remain mum on the acquisition Image sourced at faceofmalawi.com
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The Chief Executive of FDH Holdings is not coming out clearly on whether their concerns over the purchase of Malawi Savings Bank raised to the government, have been addressed.

Early this year the group’s CEO Thomson Mpinganjira expressed concern that Capital Hill was not completely honest in the MSB deal, as they felt it was undervalued.

When he made an announcement on the completion of the capitalisation of the merged banks, Mpinganjira said they were shocked because they ended up injecting close to 12 billion to get the institution back on its feet.

Following such a concern, the team went into discussions with the Treasury, of which both sides confirmed.

Six months down the line, however, both sides are refusing to comment on the matter, keeping the public in the dark on whether or not a compromise was reached.

When contacted by Capital FM, Mpinganjira said he “does not want to comment on the issue publicly”.

Treasury officials have also remained tight lipped on the issue.

FDH Financial Holdings Limited (FDH) is a diversified investments and financial solutions centre with interests in Banking, Discount House Operations, Investment Management and Advisory Services as well as Forex Bureau operations.

 FDH prides itself in the quality of its services, which has created a formidable reputation for itself in all its business arms. 

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