Commentators Sunday expressed both scepticism and confidence over President Lazarus Chakwera’s choice of a new Finance Minister at a time the economy is riddled by an avalanche of challenges.
On Saturday evening, Chakwera appointed former Trade Minister Simplex Chithyola Banda as new Finance Minister replacing Sosten Gwengwe, who has been at the helm of Malawi’s finances for the past two years.
Chakwera has since redeployed Gwengwe to the Ministry of Trade.
Reacting to Chithyola Banda’s appointment, Catholic Commission for Justice and Peace National Coordinator Boniface Chibwana said with the way the local economy has been performing, it was imperative to change leadership at the Ministry of Finance.
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“However, looking at the qualifications of the new Finance Minister we feel this is another missed opportunity as we believe his qualification does not suit him to work in that high technical portfolio,” Chibwana said.
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Human Rights Defenders Coalition Chairperson Gift Trapence Sunday said Chakwera has the prerogative to appoint any person to be minister.
He said the feeling of many Malawians is that since Malawi is going through an economic crisis, they think that Malawi needs an experienced economist as minister to resolve the economic crisis.
“In this case, we believe that the President has seen good qualities in the new minister that he can ably address the economic challenges that malawi is going through. If the minister won’t meet Malawians’ expectations, the President will be the one to blame for letting Malawians down in the most difficult times when we need his leadership to resolve the crisis,” Trapence said.
Consumers Association of Malawi Executive Director John Kapito said while having a technocrat leading the Ministry of Finance is important and crucial, Chithyola Banda has accumulated a lot of experience to provide leadership to the ministry as long as he is surrounded by a good team.
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“He can equally apply his other related knowledge and make the ministry do even much better as long as he is a hard worker. I am hopeful, looking at his current résumé, that he can deliver,” Kapito said.
In an interview yesterday, Chithyola Banda said he is confident that the local economy will bounce back strongly if all Malawians play their rightful role.
Chithyola Banda, who was on his way to IMF/ World Bank Annual Meetings taking place in Morocco, described his appointment as a litmus test to young people to showcase the abilities that would help address the economic challenges.
The former Trade Minister has since pleaded with Malawians to give him time to manage what he calls quick fixes for the economy to rebound.
He said he looks forward to strengthening inter-ministerial collaboration and networking as he deals with macroeconomic issues.
Chithyola Banda has since hailed Gwengwe for the good job he did as Finance Minister.
During his six months tenure at the Ministry of Trade, Chithyola Banda developed a roadmap which had four Key performance indicators that helped him to make the ministry a household name.
Among other things, at the Ministry of Trade, Chithyola Banda facilitated the $700 million Afreximbank deal for Industrial Parks.
He also oversaw the re-introduction of the CD1 forms and controlled warehousing which helped sanitise export trade in this country.
