Secretary to Treasury (ST) MacDonald Mafuta Mwale has been redeployed back to the Reserve Bank of Malawi (RBM) two years after he left RBM.
At the central bank, Mafuta Mwale is taking up the position of Deputy Governor, which, in terms of ranking, is said to be higher than that of ST, meaning he has been promoted.
Before being appointed ST in December 2021, Mafuta Mwale was working as Director of Research and Statistics at RBM.
In an interview last evening, he confirmed that he was returning to the central bank in the new role.
It is not clear who is replacing Mafuta Mwale as ST, but reports indicate an announcement in that regard is expected to be made “soon”.
Government spokesperson Moses Kunkuyu said he needed to consult first to find out who would become the new ST.
Meanwhile, Scotland-based Malawian economic policy analyst Veli Nyirongo said Mafuta Mwale’s return to the central bank “marks a significant development”.
Nyirongo said Mafuta Mwale’s extensive experience, “straddling both Treasury and RBM, positions him uniquely to navigate complex policy decisions and foster continuity within the central bank”.