Mathanga earmarked for Governor of Reserve Bank of Malawi: To replace Chuka

Government has earmarked Henry Mathanga to replace Charles Chuka as Governor of the Reserve Bank of Malawi (RBM) who is leaving the Central Bank at the expiry of his contract at the end of this month.

Mathanga who is RBM’s Director of Financial Markets is said to be the favourite because of his family connections to the ruling Democratic Progressive Party (DPP).

“He is considered a blue eyed boy of the ruling elite because he comes from the Lhomwe belt and his wife is an influential figure in the DPP government, so most likely, he will get the job,” said a source privy to the process.

Insiders said Mathanga attended interviews for the post of Governor of the Central bank a few weeks ago alongside other revered economists and administrators namely former Governor Perks Ligoya who served as Governor between 2009 and 2012, Dr Wilson Banda, a long time and experienced senior manager at RBM now based in Washington DC, USA and Dr Grant Kabango, current Deputy Governor (Supervision).

“In all fairness, its either Dr Wilson Banda or Dr Grant Kabango who were supposed to be given this job according to qualifications and experience but because they come from ‘wrong places’ they will not get it, this job will be given to Mathanga because he has connections to the ruling elite,” said the source.

The Mathanga family connection to the ruling elite are evidenced by the double pay slips that Jean Mathanga, wife to Henry gets at Escom where she is a Board Chairperson and also at Electoral Commission where she is a Commissioner.

“If it was someone else, government would not have allowed Jean Mathanga to be receiving double pay from Escom and Electoral Commission but they are connected and I don’t see why the husband would fail to get the job of Governor,” added the source.

RBM Spokesman Mbane Ngwira could not immediately comment.