Sadala Heads Malawi Savings Bank
NOVEMBER/24/2009

The Malawi Savings Bank (MSB) board of directors on November 23, 2009 appointed seasoned banker Kayisi Sadala to head the bank following the departure of Joseph Mwanamvekha to be Secretary to the treasury.

The bank said in a statement after the meeting that Sadala has been appointed Deputy Chief Executive Officer but will act as Chief Executive Officer of the bank.

Sadala was Head of corporate banking for MSB before his appointment yesterday. The board appointed Haston Chamba, Head of Human Resource management as acting Company Secretary.

The board also appointed Peter Matumbo as head of Corporate Banking. Matumbo was business development manager based in Lilongwe.

Sadala holds an MBA in banking and finance obtained from the University of Wales (Bangor) in the United Kingdom and a Bachelor of Arts degree from Chancellor College, a constituent of the University of Malawi.

He started his banking career with the National Bank of Malawi where he worked for 14 years before he joined Indefund in 2004 where he was Operations Manager.

In 2006, Sadala joined Continental Discount House as Business Development Manager and was instrumental in setting up of a regional office in Lilongwe to carter for central and northern regions.

Sadala joined MSB in July 2007 as manager, Corporate banking with initial task of establishing corporate banking division and he was promoted to head the division a year later.

Chamba is the current president of the Institute of People Management Malawi (IPMM) and holds a masters of Science degree in Human Resources Development from the University of Manchester in the UK and joined msb in 2004.

While Matumbo holds a bachelors degree in financial services and associate ship by the Chartered Institute of Bankers in the UK and has 12 years experience as a professional bank. He joined MSB in 2008.

On the other hand Mwanamvekha now becomes MSB Chair by virtue of being Secretary to the Treasury.

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