Author: malawinewsnow

National Bank of Malawi buys Inde Bank from government

LILONGWE -In a bid to grow its transactional banking base, the National Bank of Malawi has bought 75% of Inde Bank therefore making it the strategic owner with the remaining 25% left for the government. Previously government owned 100% shares of Inde Bank which has branches of its services in the country. The sale of Inde bank has been done concurrently with MSB sale to FDH Holding Limited of local business tycoon Thom Mpinganjira. In a statement released today, Minister of Information Kondwani Nankhumwa said the signing of the agreements today is not a waste as both MSB and...

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Malawi disposes of savings bank shares

LILONGWE  – The Malawian government has disposed of 75 percent of its shareholding in the state-owned Malawi Savings Bank (MSB) and Inde Bank, Finance Minister Goodall Gondwe announced Thursday. Gondwe told journalists in the capital Lilongwe that the shares in MSB have been sold to Financial Discount House Holdings while those in Inde Bank were sold to National Bank of Malawi. “Following this development, government shall proceed with the selling of its shares to the winning bidder and reserve the remaining shares of 25 percent for the public,” he said. He assured the public that the shares especially in...

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