Lilongwe — Outgoing Reserve Bank of Malawi (RBM) Governor Dr. MacDonald Mafuta has described his exit from the central bank as a calm and dignified transition, expressing appreciation for institutional continuity under incumbent President Arthur Peter Mutharika.
Mafuta said he had anticipated the transition since September and accepted it with humility. He credited Mutharika with allowing him to continue serving during a sensitive period, a decision he said reflected respect for the independence of the Reserve Bank and the importance of economic stability.
He described the RBM as a pivotal national institution and said being allowed to engage closely with the country’s economic governance structures was a responsibility he treated with seriousness and loyalty to Malawi.
Mafuta also reflected on his initial appointment in 2020 by former president Lazarus Chakwera, noting that the decision came despite internal objections and political perceptions linked to his earlier professional associations. He said this experience illustrated the reality of central banking, where officials are required to serve the economy and institutions above politics, often amid public misunderstanding.
“A central banker serves the institution and the economy, not political interests,” Mafuta said.
He described his career at the Reserve Bank as a distinctly Malawian journey. Mafuta joined the institution in 1993 as a young graduate and rose through the ranks to become Governor. He said he leaves office without regret, guided instead by gratitude to national leadership and faith.
On economic policy, Mafuta said his key unfinished priority was to intensify supply-side interventions, with a strong focus on private-sector-led production. He said Malawi’s long-term economic stability depends on increased production, value addition, and exports.
“We must produce, we must add value, and we must export,” he said.
Looking ahead, Mafuta said he plans to contribute to the economy from the private sector, focusing on agricultural production and value addition. He said farming will be his main area of engagement as he begins the next chapter outside public office.
Mafuta expressed confidence in his successor, George Partridge, saying he believes the Reserve Bank will remain in steady hands. He also praised the RBM Board, management, and staff, describing their work as central to Malawi’s economic stability.
He urged Reserve Bank employees to continue serving with professionalism and national commitment, describing them as custodians of Malawi’s economic future.
“God bless Malawi,” Mafuta said.
