Cama in hands-off FDH Bank plea to protestors

The Consumers Association of Malawi (Cama)  has pleaded with political parties

and the demonstration organizers to seriously consider engaging their bases and followers to desists from  any elements of vandalism, looting and destruction of property due to a number of opinions and  disagreements over the May 21 disputed poll results.

In a statement made available to Nyasa Times,  signed by Cama’s executive director, John Kapito, the consumer rights body said it was concerned by destruction of property especially of financial institutions such  as FDH Bank and also the undermining of authority and operations of the Reserve Bank of Malawi.

Kapito said the vandalism has been exerbated by the spread of false and misleading social media  commentaries being propagated by some disgruntled and overzealous people whose motive is to create economic  and social  panic amongst consumers.

“We find the attacks on FDH Bank uncalled for and unreasonable because of its economic position in the economy, FDH Bank has got a huge consumer base and these consumers were  affected negatively on the attacks and destruction of its structures,” said Kapito in the statement.

According to Kapito, FDH Bank is one of the institutions, employing many young Malawians whose livelihoods and professional development is dependent on the operations of the Bank.

“FDH Bank happens to be one of the financial institutions whose structures are spread throughout the country and any attack on its establishment and operations has a huge impact on  Malawian Consumers.

“We therefore wish to remind all peace loving Malawians to desists from any attacks on FDH Bank or any other financial  institution as such actions have huge negative repercussions on all  consumers in the country irrespective of their political affiliations and ethnicity.”

Recent social media reports have portrayed FDH Financial Holdings Limited chief executive officer (CEO) Thom Mpinganjira and his business empire as financier of the governing Democratic Progressive Party (DPP) and anointed heir to President Peter Mutharika to be the party’s torch bearer in 2014.

But Mpinganjira dismissed reports are baseless and unfounded and putting his life and that of his family members at risk.

“There are people that indeed want to succeed the President, they can consider me as a threat and plot to eliminate me. They may think I’ll come to disturb them. But I’m saying, they should not worry, I’m not coming there, and I’m not joining politics.“I’m not interested in politics, all my life I’ve run business and I intend to run business even after my retirement. Let me make it very clear…I, Dr Thomson Mpinganjira, have never been involved in politics and I’ve no intention to do so. I’ve no ambition to join politics now or in the future,” he said.

Meanwhile, FDH Group plans to list its FDH Bank on Malawi Stock Exchange by June 30 2020 and urge Malawians to start saving in readiness for this great investment opportunity.