Reserve Bank of Malawi has New Governor

President Lazarus Chakwera has appointed Dr MacDonald Mafuta Mwale as Reserve Bank of Malawi RBM governor.

This comes a week after President Chakwera fired Dr Wilson Banda as RBM governor

In a communication from Office of President and Cabinet signed by chief secretary Colleen Zamba, Chakwera has appointed Dr Mwale who once served as secretary to treasury as RBM governor with immediate effect but subject to confirmation public appointments committee of parliament.

Chakwera has also appointed Dr Kisu Simwaka as deputy governor of Reserve Bank of Malawi.

Commenting on the appointment, economist Adam Chikapa Gaisi, commended the president for firing the then Reserve Bank of Malawi governor saying he failed to tame the inflation.

He has however welcomed the appointment of Dr Mwale with much expectation from him to turn the table around in managing economy in Malawi.