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Former Reserve Bank of Malawi (RBM) Governor Dr. Daliso Kabembe has criticised Malawian leaders for lacking creativity in addressing the country’s unemployment crisis, especially among young graduates.
Dr Kabambe stressed the need for innovation in the job market at the Malawi School of Accountancy’s 2024 graduation dinner in Blantyre.
“While the world is busy exchanging ideas and technology, as seen in successful entrepreneurs like Mark Zuckerberg, Malawi still relies on outdated business models focused on tobacco and tea, which no longer dominate the market,” Dr Kabembe said.
He asked students to conduct a survey to determine how many wealthy people depended on the tobacco business, and his answer was none.
Dr. Kabambe stressed the importance of adapting modern market models to drive progress.
Furthermore, Dr Kabembe called on students to collaborate in the fight against corruption as it is a major obstacle to Malawi’s development.
He encouraged the young graduates to take an active part in shaping the future of the country.
As a former Reserve Bank Governor, Dr Kabembe played a vital role in providing strategic direction and leadership, delivering accurate economic advice to government, and effectively managing monetary and exchange rate policies to curb inflation.
Dr Kabembe has extensive experience in economics and public service, having served in various roles in the Malawi Government’s Economic Directorate, including Chief Economist, Chief Economist and Director of Budget.
He also served as Minister of Foreign Affairs and International Cooperation.
Dr. Kabambe’s academic qualifications include a PhD and an MSc in Development Economics from Imperial College London, and a BSc from the University of Malawi.
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