Malawi Stock Exchange (MSE) listed commercial bankers, National Bank of Malawi (NBM) plc, has appointed the country’s erstwhile deputy governor of the Central Bank, The reserve Bank of Malawi (RBM) Grant Kabango as the new chairperson of its board of directors, succeeding Jimmy Lipunga, who has since retired.
In a statement signed by NBM plc Company Secretary Zunzo Mitole, Kabango was described as a seasoned economist with over 40 years of experience in central banking.
“Kabango previously served as Deputy Governor of the Reserve Bank of Malawi for two consecutive five-year terms.
“From May 2012 to April 2017, he oversaw the supervision of financial institutions, and from May 2017 to April 2022, he managed economics and regulatory functions,” the statement read.
Before becoming Deputy Governor, Kabango held several senior roles within the central bank, including Director of International Operations, Director of Research and Statistics, Executive Assistant in the Governor’s Office, and General Manager of Economic Services.
The bank praised Kabango for his significant contributions to the formulation and implementation of macroeconomic and development policies, leveraging research and technical analysis to promote price and financial stability.
“He served as a Board Director of the Reserve Bank of Malawi, a member of the Monetary Policy Committee, and Chairman of the Financial Sector Stability and Development Committee,” further reads the statement.
Dr. Kabango holds a PhD in Economics, an MPhil in Development Economics, and a Post-Graduate Diploma in Development Policy, all from the University of Glasgow, Scotland,” the statement added.
The new NBM chair also earned a Bachelor of Social Science degree in Economics from Chancellor College, University of Malawi, and over the years has received recognition from international institutions, including the World Bank, International Monetary Fund, Federal Reserve System, Bank for International Settlements, and Citigroup.
“He served as a Board Director of the Reserve Bank of Malawi, a member of the Monetary Policy Committee, and Chairman of the Financial Sector Stability and Development Committee.”
National Bank of Malawi statement
Signed by Company Secretary Zunzo Mitole
