Mutharika appoints Daliso Kabambe as new Reserve Bank of Malawi governor: Exit Chuka

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

Kabambe: New central bank governor

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.

Kabambe  workes  as an economist and principal economist in the Ministry of Agriculture where he served for seven years, and then as chief economist and deputy director of economic planning in the Ministry of Economic Planning and Development for four years.

He also worked as  budget director in the Ministry of Finance during the tenure of late president Bingu wa Mutharika and  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.

He holds a PhD and a Master’s Degree in Development Economics from Imperial College London, University of London, United Kingdom which was obtained in 2008 and 2001 respectively.

Kabambe  also holds a BSc Degree from the University of Malawi obtained in 1998.

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Zoona
Guest
The architect of cadhgaye together with Mwanamvekha. The two facilitated the looting of public funds by Bingu. He is very corrupt but smart unlike Mphwiyo. He has amassed untold wealth but he behaves as if he has nothing. If you are a Northerner or Chewa please do not despair because you can never get the Governorship as it is only for Lomwes or one directly related to APM. Just as the appointment of Chief Secretary has no qualifications for one to be appointed, in Malawi what you know doesn’t really matter but who you know. At least Kabambe is an… Read more »
Dalitso Amos
Guest

We pray for you so that only God should continue giving u good health, wise and wisdom for the good job given. All the best.

MANYI
Guest

DZIKO LA MATSIYE (MALAWI) !
LOMWE ESTATE!

YOU MEAN WE DONT
HAVE OTHER TRIBES WHO CAN BE APPOINTED WITHIN THE
RESERVE BANK BUT YOUR COUSIN/NEPHEW ??

WE NEED GODS INTERVENTION !

True patriot
Guest
Economics gurus please educate us the lesser mortals. In advanced economies, change of leadership at the helm of a central bank causes direct reaction on the currency rates, negative or positive, depending on the markets’ perceptions. The Kwacha market trends and inflation rates have been consistent – going up and coming down, respectively well before rumors about Chuka’s departure and now into Kawale’s era. Should we say that ours is a unique case where such developments don’t have any direct effect? Or better still, should we really trust that the two economic indicators are not manipulated contrary to some speculation?
martin kusamba
Guest

kabambe is a corrupt guy.koma Malawi sizathekanso.he has been put on that position to help dpp raise money for their campaigns.iknow this move very welo

Australian
Guest

Congrats Dr Kabambe. For the sake of much needed progress, good luck. Being a rural development economist means you have a lot to learn on monetary policy and finance yourself. Learn fast. Chuka retire well koma adzakukumbukile ndizabwino ndi owerengeka.

eddiesonnell0@gmail.com
Guest

Congrats Dr D.kabambe it it over its ur turn- time only tells

Nyani
Guest

Chuka was also useless and complicit in cashgate. He was a man bereft of any ideas and limited in intellect. Kabambe is an empty suit. I have spoken

willard
Guest

Ameneyunso ndiye uti?? mungotolana pa dzala eti…. why not take someone who has risen from the central bank itself?? are you trying to say kunalibe odziwa tchito the whole bank by taking this outsider..mmene bank yakulira..penapaketu ndale za pa malawi ndi 0/10

vere
Guest

His nephew…STUPIT machina..

wpDiscuz

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