21 April 2017

Malawi: Mutharika Appoints Daliso Kabambe As New Reserve Bank of Malawi Governor - Exit Chuka

Photo: UN
President Peter Mutharika (file photo).

Malawi President Peter Mutharika has appointed Foreign Affairs Principal Secretary Dalitso Kabambe as new Governor of the Reserve Bank of Malawi (RBM).

Kabambe replaces Charles Chuka whose contract has expired.

A statement dated April 21, 2017 signed by Chief Secretary to the Government Lloyd Muhara says the appointment "is with immediate effect ."

Says the statement: " His Excellency Professor Arthur Peter Mutharika, President of the Republic of Malawi, in exercise of the powers vested in him by DSection 6 of the Reserve Bank of Malawi (Amendment) Act of 2010, has appointed Dr Dalitso Kabambe, to the position of Governor of the Reserve Bank of Malawi."

According to RBM sources, Chuka 's contract has not been renewed because of his reluctance to play around with bank rates and inflation figures just to construct a cosmetic picture of the government that is ably performing to impress donors.

Economist Kabambe once worked as budget director in the Ministry of Finance during the tenure of late president Bingu wa Mutharika.

He also oversaw part of the Cashgate era , looting at Capital Hill and several other illegal activities involving billions of kwachas from public funds.

Kabambe was replaced by Paul Mphwiyo when he was moved as director in Ministry of Foreign Affairs before being promoted as PS.

Malawi

Water Mission Malawi Saves Thousands From Thirst

Community members from Group Village Heads (GVHs) Longwe and Maluma in Liwaladzi, Nkhotakota had a big feast on Thursday… Read more »

Copyright © 2017 Nyasa Times. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 900 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.