Amid persistent economic headwinds and forex shortages, Reserve Bank of Malawi (RBM) Governor Macdonald Mafuta Mwale struck a tone of resilience and progress as he marked the Central Bank’s 60th anniversary in Lilongwe on Friday.
While avoiding direct mention of the country’s ongoing currency challenges, Governor Mwale focused instead on the RBM’s legacy and forward momentum.
“There’s a lot to commemorate today,” he said. “We’ve faced shocks and challenges, but the most beautiful part of the story is that the Central Bank has remained resilient in fulfilling its mandate of maintaining price and financial stability.”
Mwale highlighted key achievements, including improvements in currency security and a growing shift toward digital payments. “Today, Malawians can transact not just in cash but through a range of electronic platforms. These are meaningful strides for our financial system,” he noted.
Looking ahead, the Governor called for a national shift toward production and export growth, identifying it as Malawi’s central economic challenge. “Let’s make no mistake, our core issue is production and exploration,” he said. “The Central Bank must align its policies to support the real economy.”
Mwale also unveiled plans for a new 12-storey RBM office tower in Lilongwe to accommodate expanding operations. “We’ve presented the design to the President, and construction will begin soon, with a three-year completion target,” he announced.
As the RBM steps into its seventh decade, Mwale reaffirmed the Bank’s commitment to innovation, private sector support, and sustainable economic growth.
