Malawian economist Mkwezalamba leaves AU: Announces Pan-African Stock Exchange

Maxwell Mkwezalamba (PhD) , Malawi’s renowned economist has stepped down as African Union (AU)  Commissioner for Economic Affairs.

Mkwezalamba, who has served the continental body for close to eight years, will be replaced by Anthony Mothae Maruping, former Ambassador and Permanent Representative of the Kingdom of Lesotho to United Nations agencies in Geneva and to World Trade Organisation (WTO).

Speaking, Mkwezalamba said serving in the position had been an honour to him.

“I have fond memories of a great service to the continent,” Mkwezalamba said at a Ministers of Finance meet in Abidjan, Cote d’voire.

Mkwezalamba: B ids farewell to AU
Mkwezalamba: B ids farewell to AU

“ As I step down as chairman of this conference and AU Economic Commissioner I feel honoured to have served such a great body,”  he said.

Before his election as AU Economic Affairs commissioner, Mkwezalamba served in Malawi and the United States of America (USA) in various capacities, including macroeconomist at World Bank, Malawi Country Office; principal secretary at the Ministry of Finance and Economic Planning, Malawi (2000-2003); and country economist, World Bank, Washington, DC, USA in 1999.

Meanwhile,  Mkwezalamba announcd that AU is “looking at establishing a Pan-African Stock Exchange.”

This is to help mobilize funds for the private sector to finance Africa’s infrastructural development, Mkwezalamba told journalists  at the 2013 Joint AU-ECA Meetings in Abidjan, Ivory Coast.

“We are yet to get into the details but the study that has been undertaken will focus more on regional stock exchanges, hoping that eventually we will have one Pan-African Stock Exchange,” Mkwezalamba added.

He however admitted that the move will take sometime.

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