K16.2bn bank sale proceeds still idle - The Nation Online

K16.2bn bank sale proceeds still idle - The Nation Online:



K16.2bn bank sale proceeds still idle


Three years after disposing two commercial banks—Malawi Savings Bank (MSB) and Indebank government is yet to decide on how to use the proceeds which have accumulated to K16.2 billion.

Proceeds from the sale of its wholly-owned bank MSB at K9-5 billion and Indebank at K6.7 billion in 2015 were initially deposited in interest-generating Public Private Partnership Commission (PPPC) bank account before the money was moved to a government account, according to PPPC chief executive officer Jimmy Lipunga.





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