“It is just mutual between employee and his employers,” Malitoni told Reuters in an email late on Tuesday. The email did not mention any possible names to replace Mbewe.
Mbewe, a former head of Standard Bank in Malawi, joined the central bank as governor in 2005. He had a good reputation in the market and his banker background helped him earn respect.
The resignation follows weeks of speculation that the government had asked Mbewe to resign amid shortages of foreign currency.
Mbewe is credited for helping to bring the southern African nation’s inflation back to single digits.
He worked closely with the International Monetary Fund which led to the cancellation of Malawi’s debt. He has also been key in negotiating further aid for Malawi with the IMF and the World Bank.
Architect of the controversial Mulhako wa Lhomwe society, Joseph Mwanamvekha has been picked by President Bingu wa Mutharika as the next Governor of the Reserve Bank of Malawi (RBM) according to reports on 3 July from Blantyre.
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