State President Dr. Lazarus Chakwera has fired Governor of Reserve Bank of Malawi (RBM) Dalitso Kabambe.

The development comes barely a week after the social media was awash with reports of Kabambe’s fired but has trashed the reports.
Kabambe has been replaced by Dr. Wilson Banda.

From 2003 to 2010, Wilson was General Manager of the Reserve Bank of Malawi.

He also served as the Director of the Malawi Stock Exchange, a member of the Economics Association of Malawi, and a chairman for both the Malawi Knowledge Network (MAKNET) and Malawi Payments Systems.

Wilson earned his PhD in Economics from the University of Manchester. He also holds an MPA from Harvard University and an M.Phil in Monetary Economics from the University of GLASGOW.