President Lazarus Chakwera has fired Minister of Finance Sosten Gwengwe and has replaced him with Simplex Chithyola Banda.
Chithyola-Banda was already serving in Chakwera’s cabinet as Minister of Trade and Industry.
State broadcaster Malawi Broadcasting Corporation, quoting a statement signed by Colleen Zamba who is Secretary to the President and Cabinet, says the appointment is with immediate effect.
Gwengwe was appointed Finance Minister in January 2022 and under his stewardship, the economy has continued to worsen for Malawians as prices of goods have continued to rise while foreign exchange has been in short supply. Currently, the country is facing shortage of fuel.
The announcement comes on a day Chakwera travelled to Mozambique.
