Politics
Malawi: President Banda names new Finance Minister
Malawi President Joyce Banda. PHOTO/AFP
Malawi’s President Joyce Banda has named a former African Union economist as the new finance minister, five days after dissolving her cabinet amid a corruption scandal.
The allegations of corruption have been a setback for Banda, who faces an election next year.
More: Malawi: President Banda dissolves cabinet in wake of corruption scandal
Maxwell Mkwezalamba, who has been a commissioner for economic affairs at the African Union in Addis Ababa for the past 9 years, replaces Ken Lipenga who was until last week the country’s Finance Minister.
Malawi’s troubled economy has shown signs of improvement in the past few months with inflation easing from more than 30 percent a year ago and earnings from its exports, expected to double compared with 2012.
More: Malawi: President Joyce Banda takes pay cut of 30% in austerity drive
Investigations into the corruption scandal are underway and a number of arrests have been made.
Local analysts have indicated that Ms. Banda’s management style differs greatly from her predecessors – and is actively involved in ensuring clean government and improved service delivery.