PAC confirm Wilson Banda as governor of Reserve Bank of Malawi

Public Appointments Committee (PAC) has approved appointment of Dr Wilson Banda as Governor of Reserve Bank of Malawi (RBM).

President Lazarus Chakwera appointed Banda as RBM Governor replacing Dr Dalitso Kabambe.

In a letter addressed to the Chief Secretary to government Zangazanga Chikhosi from the Clerk of Parliament which Nyasa Times has seen, Banda has met all conditions set for his appointment.

“I have the honor to convey the confirmation from the chairperson of Public Appointment Committee that after reviewing evidence brought before the committee , the committee is satisfied that the condition to the confirmation of Dr Wilson Banda as Governor of the Reserve Bank of Malawi has been met,” reads the letter in part.

Recently PAC also confirmed appointment of Dr George Kainja as Inspector General of Police pending full sitting of Parliament for final confirmation.

PAC Chairperson, Joyce Chitsulo said the confirmation have been indeed been made.

On central bank governor, Chitsulo said there were some issues which have also been dealt with and this include the fact that  Banda was operating some forex bureaus.

“We have dealt with that according to the laws,” she said.

Banda is not new at the central bank having served as general manager from 2003 to 2010.

He then served as a Senior Advisor to the Executive Director for Africa Group I at the World Bank, where he started, as an Advisor, in 2010 until his recent retirement.

He also served as a director of the Malawi Stock Exchange and is a member of the Economics Association of Malawi, and was chairperson for the Malawi Knowledge Network (MAKNET) and Malawi Payments Systems.

Banda holds a PhD in Economics from the University of Manchester, in the United Kingdom, a Master of Public Administration from Harvard University in the US, a Master of Philosophy in Monetary Economics from the University of Glasgow in the United Kingdom.