Re-Opening Date for Finance Bank Malawi Set for Mid February 2013

Zambia’s largest local banking investment, Finance Bank Limited is set to open its Malawi operations in February, 2013. According to a source at Finance Bank Limited which is one of the banks with the widest branch networks and the largest among privately owned commercial banks in the country, the bank is expected to resume operations in Malawi at the beginning of 2013 and February in particular.

This is after Finance Bank pulled out of the Southern African country owing to increased machinations against the investment by the government of former Malawian president Bingu Wa Mutarika.

The government of the late Wa Mutarika had acrimonious relations with not only key business investments but also fail out of favor with key multilateral and bilateral donors in the western world owing to the late Mutarika’s heavy autocratic inclination with respect to his style of governance and allegations of high levels of corruption.

Years after Finance Bank withdrew from Malawi, Sakwiba Sikota at the arrangement of Rupiah Banda and late Mutarika illegally obtained a document which was concocted for the sole purpose of discrediting Finance Bank owing to personal and ridiculously criminal fights started against chairman of the bank .
The said report was doctored by the Reserve Bank of Malawi on the instructions of the late Bingu Wa Mutarika at the instigation of the late Fredrick Chiluba. The Government of Malawi through new Malawian president Joyce Banda has since apologized for this disaster and indignity engaged in by the previous regime and has requested Finance Bank Malawi Limited to return.

Posted by Editor on November 29, 2012. Filed under BUSINESS. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.