Business mogul Dr. Thomson Frank Mpinganjira has retired from FDH Financial Holdings Limited, 21 years after he started the process of setting up the first ever home grown indigenous Malawian privately owned bank.
Announcing the retirement, FDH Financial Holdings Limited Board Chairman Noel Mkulichi said Mpinganjira retired with effect from 1st September 2020.
Dr. Mpinganjira commenced the process of setting up the First Discount House in December 1999 and opened doors in April, 2002 and was its first Managing Director till 2007 when he started the process of setting up FDH Bank, whose banking license was obtained on 27 November 2007, and he became its first Managing Director for one year.
FDH Financial Holdings Ltd was established in November 2007 as part of the group restructuring to replace the First Discount House as the holding company. FDH Financial Holdings Limited currently has FDH Bank plc, FDH Money Bureau Limited, First Discount House Limited, FDH Advisory Services and MSB Properties Limited as its subsidiaries.
“Dr. Mpinganjira’s retirement follows the fulfillment of his ambition and vision in December 1999 when the First Discount House was conceived,” said Mkulichi in the statement.
Soon after the successful listing of FDH Bank on the Malawi Stock Exchange (MSE) recently, Dr Mpinganjira hinted on his retirement.
“Following the successful listing of FDH Bank Plc, the flagship subsidiary of FDH Financial Holdings Limited, I consider my work done here and it is time to move on,” Dr Mpinganjira was quoted as saying.
FDH Bank plc becomes the first ever indigenous Malawian privately founded business to be publicly listed.
“Dr. Mpinganjira’s vision was to leave a legacy that will outlive him and generations to come setting the pace for Malawians; a vision that has been realized through the growth of FDH Financial Holdings Limited and its subsidiaries, which provide jobs for more than 800 employees in the country,” said Mkulichi.
Dr. Mpinganjira is a well-known Philanthropist and has been locally and internationally recognized in his personal capacity and as founder and leader of FDH Financial Holdings Limited.
He has been recognized as one of the world’s leading and successful professionals and was listed in the MADISONS WHO’s WHO of Professionals and in the Sterling Who’s Who for Excellent Performance and Achievement and won the Capital Finance International (CFI) Outstanding Corporate Leader Africa Award in 2015 and the Malawi Broadcasting Corporation first Innovations Awards as Large Scale Entrepreneur of the Year in 2016.
Recently the All Africa Business Leaders Awards (AABLA) shortlisted him in the Business Leader of the Year and Entrepreneur of the Year categories for Southern Africa.
Most Malawians remember Dr. Mpinganjira for his extraordinary compassion and sense of assisting those less fortunate than himself especially when he took a personal commitment to build a house full with solar lighting for a Dowa woman after her both hands were chopped off by a violent husband and support her livelihood. He has inspired the present day popular FDH Cares corporate social responsibility program that focusses on health, education and sports development.
“Being a Philanthropist, Dr. Mpinganjira will proceed to manage the Thomson and Barbara Mpinganjira Foundation and other family businesses while FDH Financial Holdings Limited will continue its Corporate Social Responsibility works inspired by him.”
“The Board of Directors and Management wish to express their appreciation to Dr. Mpinganjira for the vision and the hard work that led to the growth of the entity and wish him all the best is his future endeavors,” said Mkulichi.