Natsave fiasco

The steady and constant stream of   leaked confidential letters from Natsave to the Post newspaper and its client institutions such as Transparency International (TIZ) should have alerted authorities to the politicization of this very important national institution.

Leakages by people who could have channeled grievances to the appropriate investigative institutions betray an ulterior motive and indeed the malevolent intent.

Then there was the mysterious fire at the Bank Headquarters, whose cause remains unknown but whose perverse intention is clear.

We are not surprised that workers have risen to protest. Something is wrong. Very wrong. It will not do to play musical  chairs.

That is why it is important that Government must move in quickly; identify the source and purpose of these leakages.  A task force of qualified bankers should be allowed to undertake an intensive investigation before any final decisions are taken.

This institution must be saved from predators that prey on public institutions to finance their business ventures. They borrow by fraudulent misrepresentation with no intention of paying back.

Natsave has just been recapitalized and is therefore liquid and “awash” with cash. It is a very attractive proposition to make political points by demonizing the leadership and therefore undermining whatever good the institution may have achieved.

We strongly believe that, an investigation by an impartial institution, preferably from the Banking profession, not the Anti-Corruption Commission (ACC) would most certainly get to the bottom of the problems at the Bank.

We don’t believe that the ACC has the capacity to deal with complex issue of human relations in a  business environment where management must make decisions for exigency and bottom line consideration rather than straight line civil service red taped procedures.

There is no doubt that the Bank has internal problems that must be resolved, but these should not resolved by devising musical chairs among the contending parties. They are best solved away from the media and certainly away from interested parties.

Management is a full contact exercise which invariably creates conflict in which the manager will become victim of manipulative subordinates who use every means possible, including information leakage, emotional appeals to higher authority and ultimately creating industrial disturbance to make their point.

It is particularly telling that Natsave which has established itself around the country with new products and a new image, will suffer  the current institutional instability, which ultimately will affect productivity and lose the creativity that has driven it thus far.

Perhaps some good can come out of the  current crisis the bank is facing, but the worst would be to lose the momentum,  drive and  popularity the Bank has attained over the years.

Categorized | Editorial

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