Henry Mathanga’s Return to RBM: Restoring Experience and Stability at a Critical Moment

Henry Mathanga’s professional journey at the Reserve Bank of Malawi (RBM) began in 1984. Through decades of diligence, competence, and unwavering commitment, he steadily rose through the ranks to become Deputy Governor. During his tenure, Mathanga played a pivotal role in driving key institutional reforms that strengthened RBM’s operations and contributed to a period of strong financial performance and profitability for the Bank.

His return to the Reserve Bank should not be misconstrued as political appeasement, as some critics have suggested. Rather, it represents a deliberate correction of a misstep rooted in political interference. Following the Malawi Congress Party’s (MCP) rise to power in July 2020, RBM became one of the first institutions to face direct political pressure.

An investigation—widely viewed as questionable in both motive and process—was swiftly initiated, leading to Mathanga’s suspension. This was later compounded by what many perceived as contrived legal cases involving him and former Governor Dalitso Kabambe.

By 2021, the pressure intensified. Mathanga became the target of sustained public attacks, amplified through sections of the media and widely believed to be politically sponsored. He was repeatedly summoned to court over cases that ultimately failed to stand the test of credibility. A seasoned technocrat who had devoted the greater part of his life to public service was subjected to public humiliation and character assassination.

With the Democratic Progressive Party (DPP) now back in leadership, attention has shifted to repairing institutional damage and addressing pressing economic challenges—chief among them, the foreign exchange crisis.

Former President Professor Arthur Peter Mutharika is widely regarded as a leader who understands the importance of experience and technical competence in economic management. His decision to place trust in Mathanga once again reflects confidence in proven expertise rather than political convenience.

Malawi’s need for foreign exchange is urgent and undeniable. As the country seeks solutions “as soon as yesterday,” the return of a seasoned and knowledgeable professional like Henry Mathanga to the Reserve Bank offers renewed hope that stability, credibility, and effective policy direction can be restored at this critical institution.

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