Malawi’s newly elected president, Peter Mutharika, has reappointed Joseph Mwanamvekha as the country’s Minister of Finance, bringing back a familiar face to help tackle mounting economic challenges, including foreign exchange shortages, rising inflation, and debt distress.
The announcement, made late Sunday, marks Mwanamvekha’s return to a post he previously held from 2016 to 2020 during Mutharika’s earlier administration. A trained economist and former banker, Mwanamvekha is widely regarded as a technocrat with experience in both public finance and private sector management.
Mutharika, who was sworn in on Saturday following his victory in last month’s presidential election, said the appointment was part of efforts to stabilize the economy and restore investor confidence. He has yet to unveil his full cabinet.
In addition to Mwanamvekha’s appointment, Mutharika named Enoch Chihana as Second Vice President and George Chaponda as Minister of Foreign Affairs—a position Chaponda also held during Mutharika’s previous term in office.
The appointments come as Malawi grapples with fuel shortages, currency volatility, and a difficult business environment, which have driven up the cost of living and strained government finances.
During his previous tenure from 2014 to 2020, Mutharika was credited with lowering inflation and expanding public infrastructure, including major road projects. However, his administration also faced criticism over allegations of cronyism and corruption, which he has consistently denied.
Economic analysts say Mwanamvekha’s return could signal a focus on fiscal discipline, debt restructuring, and macroeconomic stability, key areas that will test the credibility of Mutharika’s second administration.
Source:Africa Publicity
