Mwanamvekha next Reserve Bank Governor
Architect of the controversial Mulhako wa Lhomwe society, Joseph Mwanamvekha has been picked by President Bingu wa Mutharika as the next Governor of the Reserve Bank of Malawi (RBM).
Mwanamvekha will take over from Victor Mbewe who has been shown the boot.
A post-graduate of Economics from the University of Malawi and a seasoned banker is currently Chief Executive Offer of Malawi Savings Bank Limited.
Mwanamvekha will be handed a three-year contract.
He will be returning to the RBM where he worked from 1990 and played a key role in the establishment of Financial Market Operations Department, a department charged with the responsibility of formulating and implementing monetary policies.
Government officials were coy to comment on the matter.
Tagged with: Bingu, Mwanamvekha, RBM
My fellow Malawians lets not be tempted to turn away from important issues and concern ourselves with trivia.
There are so may work places where you find more of Atumbukas so are some places with more chewas. We dont have checks and balances,but does it matter? We are all Malawians.
Joseph Mwanamveka failed to run Continental Discount House but was given the CEO post at Malawi Savings Bank even at a time when CDH was on its knees. CDH used to refuse investments of K100, 000. The smallest acceptable was K250, 000! By the time he was leaving, CDH was busy advertising daily in the papers asking people to invest from K100, 000!
At MSB he has been in the fore front of giving unsecured loans and overdrafts to various people and companies including Mulli Brothers, who by the way, are technically bankrupt with a negative balance sheet.
How can such a man be given the post of Reserve Bank Governor? I hope this is not true.
alomwe tsopano! ukatambatamba uziyang’ana kunyanja
Don’t tribalise the issue otherwise mukutiyamba tawina mpoto. The YAO’s had their time from 1994-2004 where
1-they sold government houses for personal gains.
2.they shared government vehicles i.e. a Camry@ MK26000, a 7 tonner lorry @ MK8000, pajeros @ MK600.
3. They sold various companies at a loss inorder to share them. Mapeto wholesalers buying David Whitehead. Mapeto was 1/20 the value of David Whitehead
4. The University students from machinga, Zomba, Mangochi, and Balaka were receiving about MK10000 stationery allowance while the lest of the students were getting a meagre MK700 per semester.
Now it is the Lomwes. Let them do it how they want.Let us just document and boot them out in 2014. So don’t tribalise anything otherwise, it pains some of us as pure northerners.
Mkulu wa police mlomwe, mkulu wa Reserve bank mlomwe, Nduna ya malamulo mlomwe, ife tonse alomwe!!!!!!!!!!!!!!!!!!
Is this strange?He is there to appoint ‘pple
he feels will not betray him.If it was you,
what could you do my brother’s?Ngati zikuwawa limbikirani nanu mudzasankhe amene
mukufunawo basitu,let him dance this is his time whether you like it or not,mulira mpaka magaziiiii….