Two senior managers at Malawi Savings Bank (MSB) have been sent on forced leave after being discovered to have accumulated excessive leave days that would create a huge liability if they were to stop working for the bank.
The Daily Times has established that the two managers, Deputy Chief Executive Officer Kayisi Sadala and Treasury Manager Million Hera, have been asked to go on leave after accumulating 88 and 140 days, respectively.
Sadala and FDH Financial Holdings Chief Executive Officer, Thom Mpinganjira – whose institution is the new majority shareholder in MSB, confirmed the development in separate interviews yesterday. Hera did not pick his phone when we tried to get his comment on the matter.
Sadala said he has accumulated over 80 leave days since 2007 when he joined the bank and that he is one of the staffers at the bank who have been asked to clear their leave days.
“In fact, the communication was already there even before the new shareholder came in,” said Sadala.
Asked how he accumulated all the leave days, Sadala said limited staff compliment made it impossible for some members to take all their leave days when due.
“On my part, for example, my entitlement is 30 days but I have only been able to take 20 days every year. And the bank was supposed to pay me for those days at the end of each contract but that didn’t happen,” he said.
He said his current contract expires in December this year and admitted that the bank would have to pay him for the leave days if he were to depart.
On his part, Mpinganjira said one thing FDH has discovered is that many employees have excessive leave days, with one manager accumulating 300 days.
He said the new management has decided to let everybody clear their days to reduce liabilities.
“This is abnormal and dangerous for the bank. I don’t understand how it was allowed to happen. We cannot allow it to continue like that because if one of them was to resign, it will cost us a lot of money to pay them for the unused leave days,” said Mpinganjira.
He said more employees will be asked to go home and clear their days and that the one with 300 days will also join the list once somebody has been identified to do his work while he is away.
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