In September 2020, Dr. Thomson Mpinganjira, the founder of FDH Financial Holdings, announced plans to establish the Thomson and Barbara Mpinganjira Foundation, continuing his philanthropic work and assisting young entrepreneurs.
Dr. Mpinganjira established one of the fastest-growing business empires in Malawi, having founded FDH Financial Advisory Services, FDH Money Bureau, First Discount House, and FDH Bank. The foundation will be purely philanthropic, promoting innovative ideas and providing young entrepreneurs with vital start-up capital.
Marking Thomson Mpinganjira’s retirement, the homegrown financial institution organised a farewell ceremony in Blantyre. Speaking at the event, Dr. Mpinganjira told the audience that the foundation would help needy causes in areas such as education and health.
Dr. Mpinganjira, a Fellow of the Association of Chartered Accountants, indicated that the foundation’s aim was to nurture new talent. Many young people seeking to start a new business struggle to access funding. He said that the foundation, predicted to have a starting capital between MK250 million and MK300 million, would have a board responsible for assessing projects.
During his highly successful career, Dr. Mpinganjira worked for several companies, including Deloitte, National Bank of Malawi, and Mandala, before establishing his own business empire. From 1997 to 2000, he served as CEO of Stockbrokers Malawi, becoming the country’s first stockbroker.
In 1999, still working full-time at Malawi Stock Exchange and Stockbrokers Malawi, Thomson Mpinganjira conceived First Discount House. At his farewell ceremony in Blantyre, Dr Mpinganjira pointed out that he would be remembered for taking the bank from number 12 to number three in terms of market share.
Handing over his legacy at FDH Financial Holdings to William Mpinganjira, Thomson Mpinganjira expressed confidence in his son’s capabilities. Offering guidance on how to establish a business empire, Dr Mpinganjira underlined the importance of putting God first, explaining that the Bible is the best success manual, and pointing out that all wealth comes from God.
After 21 years pioneering Malawi’s finance industry, Dr. Mpinganjira commented that he considered his work done, and that it was “time to move on.” Having retired, Dr. Mpinganjira will run the Thomson and Barbara Mpinganjira Foundation, focusing on philanthropy, promoting youth entrepreneurship, and providing vital seed capital and support for innovative projects.
Throughout his esteemed career, Dr Mpinganjira created a legacy of supporting young entrepreneurs, offering mentorship and advice. In June 2019, he made a presentation entitled The Bolts and Nuts of Entrepreneurship at the Women Ministries Leadership Convention, covering aspects of his entrepreneurial journey, imparting wisdom from the lessons he had learned, and inspiring Malawi’s next generation of female entrepreneurs.