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Malawi President Chakwera goofs on central bank’s governor Wilson Banda appointment… To provoke IMF anger

Wilson Banda at Reserve Bank

LILONGWE-(MaraviPost)-Malawi President Lazarus Chakwera has goofed again by appointing a Reserve Bank of Malawi (RBM) Governor, Dr Wilson Banda who is breaking the law.

It is also shocking that Dr Banda has his entire village and family relations in the Reserve Bank of Malawi (RBM) contrary to the Reserve Bank Human Resource policy.

Dr Wilson Banda owns a forex bureau in Mzuzu and Nkhatabay contrary to the RBM Act 2017 and International Monetary Fund (IMF) requirement that a central bank governor should be independent without financial interests in the sector that he regulates.

This breach of the law is bound to put off IMF and can have adverse consequences on the contrary.

Dr Wilson Banda is an outright nepotist who recruited and promoted his village in the Reserve Bank at the time when he served as the General Manager for Economic Services of the Bank.

Most of Dr Banda’s family relations rose to the position of the manager within six months.

Dr Banda will be breaching the RBM human resource policy which prohibits related people to be employed by the Bank.

The network the Reserve Governor’s family members holding senior positions is so shocking that some employees are fearing that the Bank will be run by a family.

The Reserve Bank Governor has a son working as a manager in the Research and Statistics Department. The son’s name is Taurayi Banda.

The Reserve Bank Governor’s nephew called Mark Chonde is a manager in the ICT department. Mark is a son to Mrs Chonde who is a direct sister to Dr Wilson Banda.

The Reserve Bank Governor also has a niece called Kamudoni Nyasulu who is currently another manager in the ICT Department.

The Reserve Bank Governor’s nephew called Stanley Mphande who is a manager.

At the same time, the Governor’s niece called Linda Kasambara also works in the Bank.

Linda came as a mere secretary but was pushed and promoted strangely when his uncle was the General Manager.

As if it is not enough, the Governor’s relation called Henry Mwalwanda is another manager in the Internal Audit Department.

This has raised serious questions about internal accountability.

Chakwera’s appointments are promoting worse nepotism, family cronyism and regionalism more that Peter Mutharika’s appointments

Maravi Post Reporter
Maravi Post Reporter
Op-Ed Columnists, Opinion contributors and one submissions are posted under this Author. In our By-lines we still give Credit to the right Author. However we stand by all reports posted by Maravi Post Reporter.


  1. Imeneyo ndi nkhani? Mwasowa cholemba anyapaphi. Tonse alliance is here to stay. Chilima pano akugwirs ntchito limodzi ndi Chakwera opanda osokoneza. Paja a Bakili Buluzi anayesa kufuna kuwadanitsa popeka mabodza ndikupanga post pa facebook koma sizingaphule kanthu. DPP sidzabwereranso muboma. DPP bolaniso UDF itha kupangako za nzeru. Soon UDF will part ways with DPP and join hands with Chilima. Nyekhwe.

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