New Malawi President Lazarus Chakwera has named a new government on Nonday in which former Nico Holdings managing director Felix Mlusu will assume the role of finance minister, the government said in a statement.

Mlusu is a financial executive who served as managing director of the Malawi Stock Exchange (MSE)-listed conglomerate Nico for 41 years.

He joined the State-controlled company on July 8 1975 as a management trainee.

Vice-President Saulos Chilima has been given a minister position of Economic Planning and Development and Public Sector Reforms.

Mulu’s main task will be to ensure the country has a provisional budget for three months.