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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23 thoughts on “Mutharika appoints Daliso Kabambe as new Reserve Bank of Malawi governor: Exit Chuka”

  1. Zoona says:

    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 economist in. Country without any economy. Please Daliso let us now loot it’s our time. Achimwene osanyengerera timete mpala.

  2. Dalitso Amos says:

    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.

  3. MANYI says:

    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 !

  4. True patriot says:

    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?

  5. martin kusamba says:

    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

  6. Australian says:

    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.

  7. [email protected] says:

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

  8. Nyani says:

    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

  9. willard says:

    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

  10. vere says:

    His nephew…STUPIT machina..

  11. Meke says:

    RBM does not come up with inflation figures. It is NSO. Please reporters do not write rumours. The truth is that his term of office has come to an end. You wanted him to be at RBM forever?
    For your own information, he started working for RBM in 1978. He retired and then worked for the IMF and came back. Luckily, Joyce Banda appointed him governor in 2012. He has served his 5 year term. You wanted him to continue?
    Do not bring politics in the issue. Chuka served for 5 years. That is it. In fact, you should congratulate government for this. We do not want people to hold office for life. So your story is distorted when you say he has been removed because he wanted to fiddle with inflation figures. Inflation figures come from NSO not RBM. RBM can only forecast. But NSO comes with actual figures because they collect data every month. I hope I have educated you!

  12. The Jangle Man says:

    Muzika Bwino Kumeneko,
    Kulibe Zomangana Kumeneko Man

  13. Vyatola says:

    he talks too much lip service has paid him . useless

  14. fare theeee well!!!!!!!!

  15. deliwe nhlema says:

    zamene. expect more looting of malawi . funds. cry my beloved country

  16. Mike Mulumbe says:

    IT WAS LONG OVERDUE, Chuka WAS A CULPRIT IN CASHGATE.

  17. CHIMVQ says:

    BUT WHY CHUKA
    PLAYING AROUND
    WITH FIGURES AT
    A HIGH OFFICE LIKE
    THIS ONE ??

    IS HE NORMAL ??

    1. Mwikhoma says:

      we know dunderheads by their comments.

  18. Bernard Mphepo says:

    Congratulations Dr Kabambe. You deserve it. Hard work really pays

  19. CHIDIDI says:

    Congrats and wishing him well

  20. Kalyoto says:

    Who determines inflation, is it the RBM or the NSO through various data collected? Komatu bwino!

  21. lesley says:

    Congrats Dalitso. So as your name, it has come to pass. A name must have a meaning.

  22. Mwenitete says:

    Congratulations Dr Kabambe for the well deserved appointment. Your hard work spirit has paid off.

Comments are closed.