President Dr. Lazarus Chakwera has appointed MacDonald Mafuta Mwale, the former Secretary to the Treasury, as the new Governor of the Reserve Bank of Malawi (RBM).

His appointment is subject to approval by the Public Appointments Committee of Parliament. Before this, Mwale served as the Deputy Governor of the RBM.

Mwale replaces Wilson Banda, who previously held the position.

In addition, President Chakwera has appointed Kisu Simwaka as the new Deputy Governor of the Reserve Bank of Malawi.