National Bank of Malawi (NBM) plc has appointed Grant Kabango as the new Chairman of its Board of Directors replacing Jimmy Lipunga who has since retired.
According to the statement, signed by the NBM plc Company Secretary, Zunzo Mitole, the Bank described Kabango 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 was responsible for the supervision of financial institutions, and from May 2017 to April 2022, he oversaw economics and regulation.”
“Before rising to the position of Deputy Governor, he 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,” reads the statement.
The statement has also praised Kabango for contributing significantly to the formulation and implementation of macroeconomic and development policies through research and technical analysis aimed at promoting 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. He 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.”
“He also obtained a Bachelor of Social Science degree in Economics from Chancellor College, University of Malawi. Over the years, he has been recognised by international institutions such as the World Bank, International Monetary Fund, Federal Reserve System, Bank for International Settlements, and Citigroup,” reads further the statement.
His predecessor, Lipunga, announced his retirement from the Board two months ago.
