Business mogul Thomson Mpinganjira has stepped down as FDH Financial Holdings Limited chief executive officer (CEO), the group’s board chairperson said yesterday.
In a published statement, the group’s board chairperson Noel Mkulichi said Mpinganjira was granted sabbatical leave effective Monday, January 27 2019.
The statement says the board of FDH Financial Holdings Limited has appointed George Chitera as the interim group CEO.
Reads the statement in part: “The stakeholders are, therefore, informed that from this date [January 27], he stepped aside from his role and responsibilities within FDH group of companies.
“The board would like to reaffirm FDH Financial Holdings Limited’s commitment to serving its valued customers, the public and all stakeholders and will accordingly render its support to Mr Chitera for the continued success of the group.”
The statement says Chitera was until his recent appointment the group chief finance officer.
He joined FDH Financial Holdings Limited in 2007 and has over 15 years profession experience in corporate finance, financial planning and analysis, strategic planning, banking, risk management, capital allocation, treasury and tax planning.
The stepping down of Mpinganjira follows the charges levelled against him by the Anti-Corruption Bureau (ACB) on Wednesday with three counts in a case he is alleged to have attempted to bribe judges hearing the presidential election nullification petition case.
Mpinganjira, who is also Electricity Supply Corporation of Malawi (Escom) board chairperson, is currently on bail.
In the elections case, two of the presidential candidates in the May 21 2019 Tripartite Elections—UTM Party’s Saulos Chilima (the first petitioner) and Malawi Congress Party (MCP) candidate Lazarus Chakwera (the second petitioner) want the court to nullify presidential election results over alleged irregularities, especially in the results management system.
Incumbent President Peter Mutharika of Democratic Progressive Party (DPP), who was declared winner of the elections, is the first respondent with Malawi Electoral Commission (MEC) as the second respondent.
The five-judge panel of the High Court of Malawi sitting as the Constitutional Court concluded hearing the matter on December 20 2019 and judgement will be delivered on February 3.
The judges hearing the case are Healey Potani, Ivy Kamanga, Dingiswayo Madise, Redson Kapindu and Mike Tembo. Meanwhile, High Court of Malawi and Malawi Supreme Court of Appeal registrar Agnes Patemba has indicated that judgement in the election of case would be delivered between January 27 and February 3 2019.
Chitera is a fellow of the Association of the Charted Certified Accountants (FCCA) and holds a Master of Business Administration degree from the Polytechnic, a constituent college of the University of Malawi.
He is also a graduate of the Executive Development Programme from the University of Stellenbosch Business School.
FDH Financial Holdings Limited has three subsidiaries; FDH Bank, FDH Money Bureau and First Discount House.