Former Reserve Bank of Malawi (RBM) governor Charles Chuka is expected to host a high level business workshop for entrepreneurs which will strive to rectify bottlenecks upcoming entrepreneurs face in the country. The workshop will take place in the first week of August in Blantyre and will draw facilitators from NBM Development Bank, Old Mutual […]
Revered economist and former Governor of the Reserve Bank of Malawi (RBM), Charles Chuka, says inconsistent power in Malawi, high internet and mobile phone costs and lack of regular incomes and bank accounts among many people, are some of the factors impinging on the country’s possible move to a cashless economy. Chuka, a seemingly staunch […]
Petroleum Importers Limited (PIL) has appointed former Reserve Bank Governor Charles Chuka as its new board chairman taking over from former Institute of Chartered Accountants in Malawi (ICAM) president Henry Chowawa. Speaking during the inauguration ceremony the outgoing chairman Chowawa said PIL remains focused on making sure that fuel is available in Malawi at all […]
Alliance Capital Holdings Group has expanded into stockbroking with the launch of a new firm Alliance Stockbrokers Limited (ASL) which brings total number of stock broking firms on the Malawi market to four. ASL seeks to win stock broking customers at a time when the country ‘economy has been slow in creating wealth because of macroeconomic […]
Malawi President Peter Mutharika has appointed Foreign Affairs Principal Secretary Dalitso Kabambe as new Governor of the Reserve Bank of Malawi (RBM). 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: “ […]
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 […]
The Nyasa Times says it stands by its story that Reserve Bank of Malawi (RBM) Governor Charles Chuka is reportedly unhappy with some of the underhand dealings within the government and that he regret the introduction of the new K2,000 bank note which has been necessitated due to the depreciation of the kwacha and inflation. Chuka, […]
Reserve Bank of Malawi (RBM) Governor Charles Chuka in now ready to be a loose cannon and expose the Peter Mutharika administration on wrongful enrighment that members of his administration are doing impacting negatively in the fluctuation of the kwacha against major international currencies. Chuka is reportedly unhappy with some of the underhand dealings within the […]
Consumers, mainly small businesses’ hopes to have reduced charges on loans have bern shattered as the Reserve Bank of Malawi (RBM) has withdrawn the warning it issued to commercial banks to stop exploiting borrowers. Following the withdrawal of the warning letter dated July 28 2016 and addressed to Chief Executive Officers (CEOs) of the commercials, […]
Supreme Court of Appeal has saved Reserve Bank of Malawi (RBM) Governor Charles Chuka from imprisonment on contempt of court charges after it have an order staying the High Court ruling that orderd the central bank to refund Blantyre-based Pakistani national Muhammed Jawad K185 million ($269 970). On April 28 2016 High Court judge Kenyatta […]
Malawi’s central bank, the Reserve Bank of Malawi on Monday chalked 50 years of its existence amid economic turmoil and high inflation rates the bank is battling to put under control. The bank’s governor Charles Chuka conceded in an interview it would be awkward to have full blown champaign celebrations amid harsh economic atmosphere. He […]
Reserve Bank of Malawi (RBM) Governor, Charles Chuka, risks arrest among other “big fishes” in the continued crackdown of the country’s worst corruption scandal known as Cashgate, Nyasa Times understands. Director of Public Prosecutions (DPP) Mary Kachale told High Court in Lilongwe that the Office of the President and Cabinet (OPC), Accountant General, Financial Intelligence […]
Sometime in January 2013—eight months after then president Joyce Banda, Finance Minister at the time Ken Lipenga and Reserve Bank of Malawi (RBM) Governor Charles Chuka had thrown all caution to the wind and liberalised everything—time came for the trio to justify their decisions as it always happens when you implement radical change that turns […]
Former ruling Peoples Party (PP) has demanded immediate resignation of Finance Minister, Goodall Gondwe, Reserve Bank Governor, Charles Chuka and Malawi Savings Bank (MSB) boss, Ian Bonongwe for misleading the nation and the State President on the bank’ postponed sale. President Peter Mutharika on Wednesday postponed the intended sale of MSB Bank calling for proper review of […]
Malawi currency the Kwacha continue to face a slide against the major world currencies with opposition parties saying its worrying development but the Reserve Bank of Malawi (RBM) Governor, Charles Chuka, said there is no need for panic. Spokesman for finance in opposition Malawi Congress Party (MCP), Joseph Njobvuyalema said depreciation of the kwacha or […]
The Public Accounts Committee (PAC) of the Malawi National Assembly will again summon three of the major players in the country’s Public Finance Management (PFM) system to answer further on issues related to the plunder of billions of kwachas from government coffers. The probe into the financial plunder known as ‘cashgate’ already saw the Reserve […]
The Supreme Court of Appeal has approved the closure of Citizen Insurance Company which was placed under statutory management on August 26 2011 under the Financial Services Act 2010 and has appointed Reserve Bank of Malawi (RBM) to be liquidator. RBM spokesperson Mbane Ngwira confirmed that the Supreme Court made its determination on Tuesday in […]
Reserve Bank of Malawi (RBM) governor Charles Chuka has stood his ground that there is no reason for him to resign despite calls from the Public Accounts Committee (PAC) of Parliament. RBM spokesperson Mbane Ngwira said there is no reason for Chuka to resign and that he is not considering such a move at all. […]