By Cedric Nkungula
President Dr. Lazarus McCarthy Chakwera has appointed Dr. MacDonald Mafuta Mwale as the new Governor of the Reserve Bank of Malawi (RBM).
Dr. Mwale, who until his appointment was RBM deputy governor, replaces Dr. Wilson Banda, who was relieved of his duties few days ago.
According to a statement signed by Secretary to the President and Cabinet (SPC) Colleen Zamba, President Chakwera has also appointed Dr. Kisu Simwaka as Deputy RBM Governor.
The letter said the appointments are with immediate effect. The letter added that the appointment of Dr Mwale as RBM Governor is subject to confirmation from Public Appointments Committee of Parliament.
Dr Mafuta Mwale holds a Master of Science (MSc) degree in Economics and Econometrics from Nottingham University in England. He is also a holder of a PhD in Economics from Aberdeen University in Scotland.
He is also an undergraduate from Chancellor College of the University of Malawi where he graduated with First Degree in Social Sciences majoring in Economics.
