Bonongwe is new Malawi Savings Bank boss

Malawi President Joyce Banda has appointed seasoned banker Ian Bonongwe as chief executive officer (CEO) for state-owned   Malawi Savings Bank (MSB.)

Kayisi Sadala has been acting CEO for the institution since Joseph Mwanamvekha was redeployed to treasury. Mwanamvekha had earlier replaced Bonongwe at MSB in 2004.

The Office of the President and Cabinet (OPC) said the appointment of Bonongwe is with effect from this Friday.

Bonongwe left to join the African Development Bank (AfDB) in Tunisia as executive director.

He was responsible for five countries -South Africa, Lesotho, Mauritius, Zambia and his native Malawi.

A holder of a masters degree in development economics, the usual humble Bonongwe joined MSB in 1999 from the Reserve Bank of Malawi where he served, among other positions, as general manager for economic services.

He is the former president of Bankers Association of Malawi.

President Joyce Banda has unveiled a shake-up of top officials charged with government finances.

She named a new secretary to the Treasury, appointing career bureaucrat Radson Mwadiwa, who also becomes chairman of MSB.

Mwanamvekha was secretary to the treasury after replacing the incumbent Mwadiwa. He has been given the boot.

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