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February 10, 2021 Green Muheya - Nyasa Times 20 Comments Four senior managers including chief executive officer Mervis Mangulenje have been fired at National Economic Empowerment Fund Limited (Neef) formerly Malawi Enterprise Development Fund (Medf), following a disciplinary hearing prompted by an audit that exposed alleged abuse. MEDF Chief Executive Officer, Mervis Mangulenje : Fired Malawi Talk reported on Friday February 5 2021 that Mangulenje has been summarily dismissed alongside head of credit Edwin Visabwe, head of operations Alexon Mwakhula and head of finance Hilarious Nampota. The Nation daily newspaper on Wednesday February 10 2021 in its report about the firing of the four, confirmed with Neef board chairman Cornelius Majawa who said the board made a decision after disciplinary hearing comprising some members of the audit team and staff from human resources which met on January 21 2021 and resolved to dismiss the four. ....
December 23, 2020 Quentin Mzumara & Owen Khamula – Nyasa Times 9 Comments The Industrial Relations Court (IRC) has stopped a disciplinary hearing which the National Economic Empowerment Fund Ltd board (Neef) – formerly Medef – had set for its four top managers on Tuesday. Suspended Need Chief Executive Officer, Mervis Mangulenje: Court has ordered Need board to put on hold disciplinary hearing Neef board had summoned its suspended chief executive officer Mervis Mangulenje, Head of Finance Hilarious Nampota, Head of Credit Edwin Visabwe and Head of Operations Alexon Mwakhula to a disciplinary action on December 23 following an audit at the institution and their subsequent suspension. The four are not comfortable to appear before the disciplinary hearing panel because among others they fear the panel is meant to rubber stamp President Lazarus Chakwera’s announcement that there would be new management at Neef. ....