Mafuna Mwale Appointed RBM Chief

President Lazarus Chakwera has appointed Dr. Macdonald Mafuta Mwale as the new Governor of the Reserve Bank of Malawi.

Mafuta Mwale: New RBM Chief

Secretary to President and Cabinet Colleen Zamba said the appointment was with immediate effect, but “subject to confirmation by Public Appointments Committee of the National Assembly.

Chakwera has also appointed Dr. Kisu Simwaka as Deputy Reserve Bank Governor.

Mafuta Mwale has replaced Williams Banda, who was fired from the position last week.

Mwale returned to the RBM last year, after he was moved from his original position of Director of Research and Statistics, to be Secretary to Treasury.

Upon his return to the Central Bank, he was promoted to the Deputy Reserve Bank Governor, the position he held until before named the Governor.

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