Will The New Broom At Finance Sweep Clean?

Is Chithyola The Solution For Economy

President Lazarus Chakwera has appointed his third Finance Minister in three years after taking over power from Democratic Progressive Party-DPP’s Peter Mutharika in the court sanctioned presidential polls in June 2020.

The new man heading Treasury is Simplex Chithyola Banda. Until this appointment, he was in charge of the Trade and Industry Ministry. He replaces Sosten Gwengwe.

BUT WHO IS CHITHYOLA BANDA?

Details show he holds a Master’s Degree in Public Policy and Administration. Again, information says he has a Post Graduate Diploma in Restorative Justice and International Human Rights.

There is also an indication that he is currently studying Doctorate of Philosophy in Public Policy and Administration.

Further details show he has previously worked in various public, private and Civil Society Organizations. He is the current Member of Parliament for Kasungu South.

HOPE FOR THE TROUBLED ECONOMY?

Malawi’s economy is currently bleeding. Forex levels are low. Fuel queues are longer. Public debt is over K9 trillion. There is high cost of living. Kwacha is helpless; keeps losing power. However, the Chakwera administration says it is working on addressing these.

Kingsley Jassi, who is passionate about business and economic affairs, doubts if these ministerial changes have any serious bearing.

He argues: “The Cabinet and Chakwera ought to own up the mess. Finance Minister may provide technical input but political interests take control of fiscal policy when you don’t have a Goodall Gondwe heading Treasury. Goodall could say no to the President.”