Government has appointed a new board of directors for state-owned Malawi Savings Bank (MSB).
According to a press statement carried in the country’s two dailies, MSB announced that former Governor of Reserve Bank of Malawi, Victor Mbewe is the Chairperson of the Board of Directors.
Mbewe, a commercial banker almost throughout his career, also formerly worked as Managing Director of Standard Bank.
He has also served in the board on National Insurance Company (Nico).
Mbewe brings to the MSB board considerable knowledge of the Malawi economy, risk management experience and treasury management expertise.
The MSB board was being chaired by Joseph Mwanamvekha by virtue of being Secretary to the Treasury. He was given the boot.
President Joyce Banda appointed career bureaucrat Radson Mwadiwa to be Secretary to Treasury and now becomes an Ex-Officio Member in the new board.
The statement said the appointment of a new Board of Directors “is in pursuit of good corporate governance and implementation of a business strategy that will create modern delivery channels for the Bank’s diversified range of banking products and services, so as to have its clients enjoy better customer service.”
Other board directors that have been appointed include Dumisani Chisala , Ms. Mbilaga Mussa and lawyer Mrs. Maureen Kachingwe.
Others are Privatisation Commission Chief Executive Officer Jimmy Lipunga, Toyota Malawi customer relations manager Alice Konyani and Ian Bonongwe who is MSB’s chief executive officer.