President Peter Mutharika has appointed Simon Itaye as new Minister of Industrialisation, Business, Trade and Tourism in Malawi on 30 January 2026.
He is part of a cabinet reshuffle by President Arthur Peter Mutharika, replacing George Partridge, who was moved to serve as Governor of the Reserve Bank of Malawi.
Itaye is a veteran of the Malawian private sector with over 35 years of experience in strategic management, international trade, and financial services.
Itaye boasts of holding a Bachelor of Commerce in Accountancy from the University of Malawi, an MBA in Strategic Management from the University of West London (formerly Thames Valley University), and is a Fellow of the Association of Chartered Certified Accountants (FCCA).
As if that is not enough, Itaye once served as the Managing Director of Nampak Malawi Limited, the nation’s leading paper-based packaging manufacturer, until his retirement in 2018.
He is also the former Chairman of Malawi’s largest holding company from 2015 to 2016.
Itaye’s board leadership experience as the chairman of several high-profile boards, including Old Mutual Life Assurance Co. (Malawi), Marsh (Fiji), and the Millennium Challenge Account Malawi is another asset to Mutharika’s cabinet.
Furthermore, Itaye also boasts as one of 12 local entrepreneurs who co-founded Investment Alliance Ltd in 1998.
In terms of his political affiliation, Itaye is closely associated with the Democratic Progressive Party (DPP) under President Peter Mutharika.
His appointment is viewed as part of Mutharika’s strategy to bring seasoned technocrats and loyalists into the administration to stabilise the economy following his return to power in October 2025.
Interestingly, Itaye is credited with leading Nampak Malawi to become a dominant force in the country’s manufacturing sector.
In fact, Itaye has been a vocal proponent of investment culture among Malawian youth, frequently conducting seminars on building wealth through investment groups.
For instance, Itaye’s role as Chairman of the Millennium Challenge Account Malawi involved overseeing significant energy infrastructure projects aimed at improving the country’s power grid.
Truth be told, while Simon Itaye himself has a generally clean professional record, his surname was briefly linked to controversy through a 2021 Ombudsman report involving his relative, Godfrey Itaye (former Director General of MACRA).
The report alleged nepotism and cronyism within the Malawi Communications Regulatory Authority, though no personal wrongdoing was attributed to Simon Itaye.
It is also important to note that President Mutharika once described Itaye as a “private sector veteran,” signaling that his appointment is intended to bridge the gap between government policy and the business community.
Therefore,Itaye’s background in FCCA and MBA provides the financial literacy necessary to manage the trade and industrialisation portfolios.
It is therefore speculated that having run one of the country’s largest manufacturing firms, Itaye is considered uniquely positioned to address the forex shortages and export bans currently hampering Malawian trade.
In conclusion, Itaye faces a daunting challenge of convincing the youth in Malawi that experienced veterans can improve the struggling economy for the benefit of everyone.
