My Opinion on sale of MSB
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MACOSWALD JUMALI
Jun 22, 2015, 3:03:53 AM6/22/15
to Cridoc, Civsoc
Today I hear there will a meeting to discuss sale or not of Malawi Savings Bank. My opinion is:
The bank must be sold. This is because, there is no rationale for government to spent tax payers money to bail out the bank that does not offer citizens any comparative advantage in money services as compared to private banks. MSB operates just like any commercial bank on the local money market in terms of interest rates, services et al as such there is no reason for government to strive to keep it afloat rather than selling it to private sector. When the bank is sold, its operations and services will not change but the only change is that it will be well managed and be professional since it will be free from the great abuser, government (both government of the day and government in waiting). If it remains government bank, it will continue being poorly managed since CEOs appointed by government cum politicians are cowed by the same into mediocrity. So please let the bank go with its toxic assets even at a loss.
I must also say that I am surprised with CSOs for opposing the sale. I would believe that they are being used by some parliamentarians who have loans with the bank and wish that it remains a government property in hope of defaulting the loan. This is because they know that once the private sector takes over, there is no room for defaulting.
The bank must be sold. This is because, there is no rationale for government to spent tax payers money to bail out the bank that does not offer citizens any comparative advantage in money services as compared to private banks. MSB operates just like any commercial bank on the local money market in terms of interest rates, services et al as such there is no reason for government to strive to keep it afloat rather than selling it to private sector. When the bank is sold, its operations and services will not change but the only change is that it will be well managed and be professional since it will be free from the great abuser, government (both government of the day and government in waiting). If it remains government bank, it will continue being poorly managed since CEOs appointed by government cum politicians are cowed by the same into mediocrity. So please let the bank go with its toxic assets even at a loss.
I must also say that I am surprised with CSOs for opposing the sale. I would believe that they are being used by some parliamentarians who have loans with the bank and wish that it remains a government property in hope of defaulting the loan. This is because they know that once the private sector takes over, there is no room for defaulting.
Best
MacOswald JUMALI
Staphiel S J Kungota
Jun 22, 2015, 3:42:34 AM6/22/15
to cri...@googlegroups.com, Civsoc
My take is that it must be sold BUT only after the toxic loans have been settled and a revaluation of the bank is done so that it does not go for a song.
Staphiel
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ezaius innocent
Jun 22, 2015, 3:55:07 AM6/22/15
to cri...@googlegroups.com
My take is that we have all been very emotional on this issue.
Come to think about is this way. should the state sell all companies that are politically abused?
This list will include MBC, ADMARC,ESCOM and all
If we want to be over zealous then we will have to sell hospitals,universities and the police too.
We all however agree that the MSB issue is all about politics. Why cant we advocate for a clean up of the system?
Elsewhere people are talking about nationalization and we are still stuck with the Bretton Wood's definition of privatization.
What will be the point in the government creating companies with our blood and seat so we can make a few politicians rich there after...all because they belong there?
What company has done the country good after privatisation?
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Film Association Of Malawi,
P.O. Box 706,
Lilongwe,
Malawi.
Tel :+265 1 753 200
Cell:+265 99 9 919 570
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