Ministry of Finance (Malawi)

The Malawian Ministry of Finance (Chichewa: Unduna wa Chuma), (Chitumbuka: Unduna wavya Chuma) is a Malawian ministry. The ministry is responsible for state finance, including taxation, the state budget, and economic policy in Malawi.

Ministry of Finance (Malawi)
Agency overview
Formed1963; 61 years ago (1963)
TypeExecutive Department
JurisdictionGovernment of Malawi
HeadquartersLilongwe
Minister responsible
Agency executive
  • Permanent Secretary
Parent departmentGovernment of Malawi
Key document

The current minister of finance is Sosten Gwengwe (Malawi Congress Party).[1] The department reports to the Parliament of Malawi.

History

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The ministry of finance was established in 1963 during the colonial period of Malawi. The first Ministers of Finance was Henry Phillips from 1963 to 1964.[2]

Organization

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The ministry is divided into the following sections:

  • Financial Markets Department
  • Tax Law Department
  • Political staff
  • Information Unit
  • Asset Management Department
  • Budget Department
  • Tax Policy Department
  • Economic Policy Department
  • Department of Administrative Affairs

Subsidiaries

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The following government agencies are subordinate to the ministry:

  • The Government Pension Fund of Malawi
  • National Insurance Scheme Fund
  • Bank of Malawi
  • Malawian Customs and Excise Authorities
  • Malawian Financial Supervisory Authority
  • Malawian Government Agency for Financial Management
  • Malawian National Collection Agency
  • Malawian Tax Administration
  • Statistics Malawi

See also

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References

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  1. ^ Ngwira, Robert (2014-02-14). "Get to know Sosten Gwengwe, JB's running mate". Face of Malawi. Retrieved 2024-04-06.
  2. ^ From Obscurity to Bright Dawn: How Nyasaland Became Malawi — An Insider’s Account, by Sir Henry Phillips. London: 1998. Radcliffe Press