Not long ago, this column celebrated the rise to new heights in their respective financial institutions of William Mpinganjira and Harold Jiya.
In the case of William, he fitted into the big shoes of his father and business mogul Thomson Mpinganjira to become chief executive officer (CEO) of the homegrown FDH Financial Holdings Limited, which counts among its subsidiaries First Discount House Limited, FDH Money Bureau Limited and the recently-listed FDH Bank plc.
Harold, on the other hand, was promoted to deputy CEO and chief commercial officer for National Bank of Malawi (NBM) plc, the country’s biggest bank by assets, effective October 1 2020. Until his new appointment, Harold served as NBM’s general manager and head of wholesale banking since 2016.
When people achieve greatness, it is always a great milestone worth celebrating. It is even more heartwarming celebration when you personally know and interact with those achieving great milestones; hence, today this column celebrates the promotion of Phillip Madinga as CEO for Standard Bank Malawi plc, a member of the Standard Bank Group.
What is even more exciting about the ascendancy of Phillip, or Phil as we call him, is that it has increased to three, yes just three, the number of Malawian CEOs out of the eight commercial banks. The other Malawian CEOs of banks are MacFussy Kawawa at NBM plc and Elias Ngalande, PhD, of FDH Bank plc.
First Capital Bank plc, NBS Bank plc, MyBucks Banking Corporation, Ecobank Malawi and CDH Investment Bank are all headed by foreign nationals working as expatriates.
It feels proud to be Malawian to see three of the country’s biggest commercial banks headed by homegrown sons with teams comprising some of the finest bankers—both men and women—on the land.
In his illustrious banking career spanning over 25 years, Phil has worked for Loita Investment Bank (now Ecobank Malawi), Standard Bank plc, FDH Bank plc where he served as managing director, First Capital Bank plc and NBS Bank plc before returning to Standard Bank Malawi earlier this year.
Besides his Bachelor of Social Science majoring in economics from Chancellor College—a constituent college of the University of Malawi, Phil also holds a Master of Business Administration and Bachelor of Business Administration from the University of Stellenbosch Graduate Business School in South Africa.
I could not agree more with Standard Bank Malawi plc board chairperson Ngeyi Kanyongolo, PhD who said the board has confidence “in Mr Madinga’s capabilities to carry Standard Bank Malawi plc into the future and will support his efforts to bring more than banking”.
Having known and interacted with Phil for over 25 years, including when he had a stint as a player at Mighty Wanderers and the disbanded University Football Club, I am also confident that he will take Standard Bank Malawi plc to greater heights. He is a go-getter and passionate about delivering in whatever he does.
Phil is one of the finest bankers in the country. He dreams, eats and thinks banking and finance.
My hearty congratulations Phillip Madinga. Wishing you success as you drive Standard Bank Malawi plc in its pursuit to transform the lives of its customers and associates as well as the economy at large. Yes, It Can Be! N’zotheka!
Last but not least, tomorrow, December 25, is Christmas Day when billions of Christians worldwide celebrate the birth of Jesus Christ, their Lord and Saviour.
The year 2020 was filled with mixed fortunes worsened by the coronavirus pandemic that brought businesses and lives to a standstill. Nevertheless, excitement is back in the air with businesses running festive promotions and believers and non-believers alike stocking up for the festive season.
Celebrate responsibly. Wishing you a Merry Christmas!
