President Lazarus Chakwera has appointed Dr. MacDonald Mafuta Mwale as the new Governor of the Malawi’s central bank, replacing Dr. Wilson Banda, whose term has been cut-short by dismissal from office.
Dr. Mwale’s appointment, which awaits confirmation by the Public Appointments Committee of Parliament, has been announced today through public appointment notice by the Secretary to the President and Cabinet.
In addition to Mwale’s elevation, President Chakwera has also named Kisu Simwaka as the Deputy Governor of the Reserve Bank, a role that will be effective immediately upon being confirmed by Parliament. These appointments form part of a larger cabinet reconfiguration that seeks to invigorate the nation’s public service sector.
The President’s initiative includes the establishment of the new Ministry of State and Service Delivery, underscoring a commitment to transform Malawi’s public service into a robust mechanism that not only addresses the basic needs of its citizens but also elevates their overall quality of life.
As Malawi stands engages on an accelerated gear in its governance journey, Mwale and Simwaka are anticipated to execute their roles at the Reserve Bank of Malawi, along with the broader objectives of Chakwera’s administration.
Dr. Mwale has previously served as Director of Research and Statistics at The Reserve Bank of Malawi before taking an appointment as the Secretary to the Treasury (ST) in December 2021. On 1st December 2024, he returned to the Reserve Bank of Malawi where he was appointed as the Deputy Governor, deputizing Dr. Wilson Banda whom President Chakwera has fired last Friday.
Dr. Mwale is a holder of a PhD in Economics from Aberdeen University, Scotland; Master of Science (MSc) degree in Economics and Econometrics from Nottingham University, England and Bachelor’s Degree in Social Science (Economics) from Chancellor College of the University of Malawi.
He boasts as a seasoned Economist with vast experience gained from the Reserve Bank of Malawi and Malawi Civil Service. He has worked on Economic Policy Research on monetary policy formulation and analysis, as a Project Manager of a World Bank funded Financial Sector Technical Assistance Project and formulation of fiscal frameworks, fiscal and economic policy formulation and analysis amongst other high profile assignments.
