Wilson Banda, former Reserve Bank of Malawi official, has been named as its new governor.

A statement from Chief Secretary to the Government Zanga-Zanga Chikhosi said on Wednesday that the appointment was made by new president Lazarus Chakwera.

Dr. Banda retired as a Senior Advisor to the Executive Director for Africa Group I at the World Bank, where he started, as an Advisor, in 2010.

Professionally, he worked as RBM general manager from 2003 to 2010.

Banda also served as the Director of the Malawi Stock Exchange, a member of the Economics Association of Malawi, and a chairman for both the Malawi Knowledge Network (MAKNET) and Malawi Payments Systems.

He holds a PhD in Economics from the University of Manchester in the United Kingdom and a Master of Public Administration from Harvard University in the United States obtained in 1999 and 1996 respectively.

Banda also holds a Master of Philosophy in Monetary Economics from the University of Glasgow, United Kingdom which was obtained in 1985.

He also holds a BSc Degree from the University of Malawi obtained in 1979.

Banda has replaced Dalitso Kabambe who was appointed by former president Peter Mutharika on April 21, 2017.