NBS Bank Plc Chief Wholesale Banking Officer, Alfred Nhlema, has been appointed Board Chairperson of the Electricity Supply Corporation of Malawi (ESCOM) Limited.
Mr. Nhlema is a seasoned banker with extensive experience in structured corporate banking, balance sheet optimisation, risk management, and institutional transformation.
He is a 2024 graduate of the prestigious Harvard Business School Advanced Management Program, holds a Master of Arts in Economics from the University of Malawi, and completed an Executive Development Program at Stellenbosch Business School in 2016.
With a strong background in corporate governance, financial restructuring, and strategic leadership, Mr. Nhlema brings a wealth of experience to ESCOM at a critical time for Malawi’s energy sector.
The appointment of the new Board of Directors marks an exciting and transformative chapter for ESCOM, reinforcing its commitment to delivering stable, efficient, and innovative electricity services that support national development.
Speaking on his appointment, Mr. Nhlema said he looks forward to contributing to the leadership of a critical national institution entrusted with electricity transmission, distribution, and supply for sustainable development.
STRATEGIC PRIORITIES TO REVIVE AND STRENGTHEN ESCOM OPERATIONS
Drawing from Mr. Nhlema’s banking and corporate leadership expertise, the following strategies can significantly improve ESCOM’s performance:
- Financial Sustainability & Revenue Protection
- Strengthen revenue collection systems through prepaid metering expansion
- Reduce commercial losses, power theft, and billing leakages
- Restructure ESCOM’s balance sheet to improve liquidity and debt management
- Introduce cost-reflective tariffs while protecting vulnerable consumers
- Operational Efficiency & Loss Reduction
- Invest in grid modernisation and network rehabilitation
- Reduce technical losses through upgraded transformers and transmission lines
- Implement data-driven maintenance planning and outage management
- Strong Corporate Governance
- Enforce clear performance contracts for executive management
- Strengthen internal controls, procurement transparency, and audit systems
- Align Board oversight with international utility governance standards
- Power Supply Stability & Expansion
- Support integration of independent power producers (IPPs)
- Accelerate diversification into solar, hydro, and other renewables
- Improve transmission readiness to absorb new generation capacity
- Digital Transformation
- Adopt smart metering, real-time monitoring, and digital billing platforms
- Use analytics to predict demand, faults, and system stress points
- Enhance customer service through digital self-service platforms
- Stakeholder & Investor Confidence
- Improve engagement with government, regulators, donors, and investors
- Develop bankable infrastructure projects to attract long-term financing
- Strengthen public communication to rebuild trust and accountability
- Human Capital & Performance Culture
- Introduce skills upgrading and leadership development programs
- Align staff incentives with performance, reliability, and customer satisfaction
- Foster a culture of accountability, innovation, and service excellence
A NEW ERA FOR ESCOM
Under Mr. Nhlema’s Board leadership, ESCOM is well-positioned to transition from operational challenges toward financial stability, reliable power supply, and long-term sustainability, enabling Malawi’s economic growth and industrialisation.
Cables wish him well as he serves Malawians .
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