9 March 2018

Malawi: Foreign Managers Cause Havoc At Standard Bank Malawi

All is not well at Standard Bank following the arrival of two foreign managers who are believed to have been yielding too much power than local executive managers although the two managers hold 'lower' positions, Nyasa Times understands.

Nyasa Times can reveal that top gurus at Standard Bank South Africa told Malawian managers that none is qualified for the top job of Chief Executive Officer of the bank and that they will continue sending expatriate managers to fill the position.

Soon after the former CEO Andrew Mashanda left, Malawian Temwani Simwaka acted as CEO for a few months until the top gurus at Standard Bank South Afruca brought in William le Roux to be CEO.

Mashanda replaced fellow Zimbabwean Charles Mudiwa as CEO.

Now there are two managers who are coming to Malawi to work at one month intervals and insiders say they do not have good relations with local managers.

"We have Alice Tigris from South Africa who is Credit Manager but she has more powers than the Head of Credit here in Malawi and the way she works is not good, she keeps shouting at local Malawian mangers as if they are kids, it's pathetic," said the source.

"Another one is Elizabeth Wasunna from Kenya who is a Business Banking Manager but wields too much power than the head of business department. These people have not yet applied for permits, so they just come for a month and go back and come again and when they are in the country, its fire, people are not happy at all and I feel sorry for our Malawian executive managers who are also being bullied as if they are not bosses," added the source.

It is believed that most of Malawian executive managers are frustrated as it is the same managers who report them to the bank gurus in South Africa.

"It is high time our country stand up to these abuses, we have well qualified people who can run this bank but we are always being overlooked, maybe because we give too much respect to these people," added another employee who did not want to be named.

Of all the top banks in the country, it is only National Bank of Malawi which is being headed by a Malawian, Mac Fussy Kawawa, the rest have foreign CEOs.


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