My reflections on the GCBQ programme

Pempherani Namacha, Insurance Supervisor at the Reserve Bank of Malawi, reflects on why she chose the MSc in Global Central Banking programme, the support of the Commonwealth Scholarship, and its impact on her professional development so far, alongside her experience of balancing study with full-time work and family life.

Why did you decide to join the MSc in Global Central Banking and Financial Regulation programme at Warwick Business School? 

The MSc in Global Central Banking and Financial Regulation at Warwick Business School appealed to me because it offered an opportunity to build on and deepen the knowledge and skills I have gained through several years of experience in the financial services sector, particularly in my current role as an Insurance Supervisor at the Reserve Bank of Malawi. Over the years, I have developed expertise in risk assessment, financial reporting, financial systems, and regulatory frameworks. However, I recognised that to make a meaningful and lasting contribution to regulation and policy, I needed to strengthen my academic understanding to complement my practical experience.

My work at the Reserve Bank of Malawi involves conducting assessments, contributing to Financial Stability Reports, and analysing compliance among life insurance companies. While these responsibilities have given me valuable practical exposure, joining the programme was motivated by a desire to explore global best practices in financial regulation and understand how they can be applied effectively in other markets. I also believed that the programme would broaden my professional opportunities within the global financial services industry, beyond the context of a developing country such as Malawi. Most importantly, the programme’s strong focus on real-world application resonated deeply with me. 

Why did you decide to apply for the Commonwealth Scholarship, and how has it influenced your study journey?

The Commonwealth Scholarship has been incredibly important to my academic and professional journey, as it covers 100% of my tuition fees , this would have been extremely difficult for me to fund independently. I applied for the scholarship because it is one of the most prestigious and globally recognised scholarship programmes.

Beyond financial support, it offers access to a strong international network of scholars, professionals, and leaders who are committed to development and creating positive change in their communities

How have you found balancing work and study, and what has studying online added to your experience?

Balancing online studies with a full-time job and family responsibilities has certainly been challenging. It requires strong time management, discipline, and careful planning to meet the demands of each area effectively.

One of the greatest advantages of studying online is the flexibility the programme provides. The programme allows me to organise my study schedule around my professional and personal commitments, making it possible to continue progressing academically while maintaining my career and family life. Another key benefit is that the structure of online learning gives reasonable time to engage with course materials thoroughly and prepare well for module assessments. 

Have you enjoyed the module content and have you been able to put your new learnings into practice in your current job?

I started September 2025, so far, I have completed the Comparative Central Banking module, which I thoroughly enjoyed. The module explores the mandates, structures, and operations of central banks across emerging market economies, developing countries, and advanced economies. It provided valuable insight into how central banks operate in different economic and institutional contexts.

I found the content particularly engaging because it offered a broader global perspective while also helping me reflect on the role of central banks in countries such as Malawi. Although I have not yet had the opportunity to directly implement all of the concepts in practice, the module has already enhanced the way I think about my current work.

How do you feel the programme will support your overall career journey and future plans?

I believe this programme will significantly support my career growth, particularly as I aspire to work in financial services centres such as those in Europe. The knowledge, global perspective, and specialist skills gained through the MSc will strengthen my ability to contribute in complex and highly regulated environments.

I also hope to share the experience I have gained from working in both the private and public sectors, where I have seen the importance of collaboration in building stable financial systems and improving lives in Malawi and across Africa.

Beyond the degree, I plan to maintain the relationships and networks built through the programme. Engaging with professionals from different backgrounds will be valuable in creating meaningful and lasting impact.